Is the Market Different When Selling High End Homes?
Listing your home for sale is a major decision comprised of a multitude of smaller decisions. Before you decide to sell, you also need to decide whether you’ll hire a realtor, when you want to list, and how much you want to list your home for. All of these choices are important considerations, especially if you are selling a high end home. Whether you are buying or selling a luxury home, you might be wondering: Is the market different for high end real estate? A house is a house, and the principles of real estate apply whether it’s a condo in suburbia or a high rise in New York. Consider these factors to better understand what to expect when you’re selling high end homes.
Competition Can Be Steep
No matter what the status of the general market is, there will always be steep competition for a desirable home. Buyers and sellers in La Cresta should be prepared for bidding wars — especially on hot properties that are priced to sell. Buyers can beat the competition using the following strategies:
- If possible, make an all-cash offer as soon as you can.
- Write a letter to the seller expressing your appreciation of the home.
- Consider waiving or modifying contingencies to expedite the process.
These strategies are relevant for homes in any price range, and when it comes to competition, both high end homes and mid-range homes can pit buyers against each other. High end buyers are more likely to have greater resources, though, so the stakes may be higher.
Location Is Everything
There is one major difference between high end and mid-range real estate: location. Location is the biggest factor determining the listing price of a home, and it can also determine whether an investment pays off or depreciates in value. Buyers and sellers must both consider location when navigating the market. Buyers should focus on attractive areas such as La Cresta, and sellers in this area should emphasize the home’s presence in a desirable area.
A Realtor Can Be Your Navigator
When you are selling a high end home, one of the biggest keys to success is networking. High end buyers may not necessarily be looking at online listings — they could be asking friends for leads instead. This makes connections an especially important part of selling for high end homeowners, and the key to connections is a realtor. A real estate agent can garner a bigger audience for your listing and help elicit interest from highly qualified buyers. A real estate agent is just as important for buyers seeking high end homes, too — realtors often have knowledge of listings before they are made public, and they have connections to sellers, too.
Find a Real Estate Agent Today
Finding a real estate agent might seem like a stressful process, but the right agent will act as your advocate and advisor. This is important for home buyers and sellers in all price brackets, but if you are in the high end real estate market, it can be especially beneficial. Find your La Cresta real estate agent by reaching out online or calling (951) 837-1650