Selling luxury Lake Tahoe homes for sale is a little different than listing a moderately priced home. It is a completely different market with a whole different set of rules, and buyers. Not everyone has millions of dollars sitting around that they can use to purchase luxury homes for sale in South Lake Tahoe, which creates a need for a certain level of expertise that is required in order to have a successful experience. There are a lot of South Lake Tahoe realtors that don’t have a clue when it comes to selling luxury Lake Tahoe homes for sale. Whether it is being unaware of the marketing needs that are required or the appropriate pricing, the goal is always to get a home sold in a timely fashion at a good price that everyone is happy with. Which means you will need to seek out a luxury Lake Tahoe realtor who is experienced and can provide valuable insight. If you are looking for immediate information on the basics, be sure to check out these steps for getting started!
Price your home correctly from the start. This is universal regardless of if you are selling a vacant lot or luxury homes for sale in South Lake Tahoe. If a property is priced too high, it will sit and grow stale. With South Lake Tahoe luxury homes for sale already sitting longer than most homes (once again-not everyone has millions of dollars laying around to spend freely), you want to make sure you price competitively to try and grab attention. Don’t sell for less than it’s worth, but don’t over price because you figure someone will come in with a lower offer and you can negotiate. If your home is worth $2.5 Million and you want $2.5 Million, but you list at $3 Million in the hopes of getting it’s worth, you can lose out on qualified buyers simply because your property will not show up in the search parameters. While most South Lake Tahoe realtors will go above the budget to make sure buyers are seeing all the homes that match their needs and are close to that max number, they likely aren’t going an extra $500,000 above that number. So you need to work with someone who is strategic and pricing according to the comps. Something to note, it is even more complicated to pull comparable sales as luxury real estate in South Lake Tahoe is rarely identical, in the same neighborhood and matching every luxury amenity. This part alone takes real expertise.
Effective Marketing Is crucial
If your luxury real estate in South Lake Tahoe is priced appropriately, that in itself is a great marketing tool. However, there are certain publications and magazines dedicated specifically to luxury properties that are necessary to have your South Lake Tahoe luxury real estate featured in. Additionally, postcards, advertising in local newspapers and social media are very important. Also understanding where your demographic resides is huge. Luxury Lake Tahoe real estate has buyers from all over, but making properties present in the Bay Area publications is huge. We have a lot of visitors and buyers in that area. An online presences is absolutely a must and having a luxury South Lake Tahoe realtor who knows how to utilize it, and where, is so important.
High Quality Photos and Videos are necessary
The above marketing couldn’t happen without making sure the home is appropriately captured by a professional. Over 90% of buyers are starting their search for luxury real estate in Lake Tahoe on the internet. The photos and videos are their first real impression. There is high end equipment, specific angles and a level of professionalism that is required in order to capture a luxury property appropriately. After all, luxury real estate is about a lifestyle, so the location & lifestyle must be portrayed perfectly and accurately.
How to manage open houses
While open houses are necessary to move homes for sale in South Lake Tahoe quickly, holding a luxury home is a whole different animal. These homes are usually filled with expensive, hard to replace items. You can’t just let anyone off the street walk through. In most of the scenarios, the owners and the South Lake Tahoe realtors require that buyers be pre-approved before even entering through the front door. So while a public open house many not work, a brokers open may be your best bet. This allows other agents to preview the property for their clients.
Selling luxury real estate takes a much different approach than selling a $530,000 home in Al Tahoe. The above tips are just a few ways to sell, but they are not all. In order to come up with the perfect plan, you need to work closely with your realtor. If you have questions about selling in this market, feel free to reach out. I would be happy to help.