Now that we’ve covered the basics in the first two posts on marketing luxury homes, let’s look at specifics.

We know that the single most important tool today is the internet. When a property is listed in the Multiple Listing Service, it automatically appears on http://www.realtor.ca which is one of the most heavily visited websites in Canada. Listings will also usually appear on the Brokerage website and agents personal website  if they have one. In most cases, all of these three places will have the same information but, it’s just not enough for a luxury home.

One of the very best tools I have used this year is to build a website specifically for the home. It allows me to really tell the story and all of the wonderful things a potential buyer should know. In this example,  I’ve been able to add hundreds of pictures, music, floor plans, a survey, neighbourhood information, the history of the development, details about the builder, a virtual tour and of course, property details such as room sizes, taxes, land size and more. The sky is the limit on what can be included.

Does it work? Well, in the first 60 days, we’ve had over 17,000 hits on the site and 3,500 views. Hundreds of people have forwarded the information, have printed off details and have watched the entire slide show. That data is available through back-end statistics that are useful for both the sellers and myself to know. We can also tell how people came to the site.

Having a single property website allows me to advertise the property in unique ways. For example, I syndicate all of my online listings to popular sites such as Craigslist, Livedeal, Kiijiji and so on. They all link back to the website as do any ads I run in newsprint. The unique website links to the listing data on my own site.

For this same property, I had a professional sign designed and built that sets the home apart with a distinguished visual and on the sign, there is a large rider with the website address. Over 500 of our views have been direct requests to the website suggesting that most came from the For Sale Sign.

I also had a brilliant graphic artist and advertising person design and print a glossy full colour brochure which has great visuals, a bit of information and, you guessed it, the website address for the property. It helps to LOVE the house because this is the time to be poetic, heartfelt and sincere about how a home lives and how it feels. People reading the copy tend to “get it.”

So, will I advertise your home in the Globe and Mail? No. But I’ll spend a great deal more directing the marketing to agents and to the public with marketing that actually draws attention to your home. In such a narrow market, this is what counts.

Related Posts:

Selling a Luxury Home In Collingwood ~ Blue Mountain
Marketing A Luxury Home In Collingwood ~ Blue Mountain; Part 1
Marketing A Luxury Home In Collingwood ~“ Blue Mountain; Part 2

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who is ready whenever you are!

After you have established the right asking price, have prepared and staged your luxury home, it’s time to begin marketing the home for sale.

Remember the question most sellers ask is “Will you advertise my home in the Globe & Mail?”  Let’s think about that.  What we want to find is a suitable buyer.  Less than 5% of buyers can afford an upper-tier home and even fewer (less than 1%) of buyers in South Georgian Bay buy a property valued at over 1 million dollars.  Where are those buyers and how do we find them?

I can hardly imagine someone sitting down to read ads of out-of-town properties for sale unless they have some interest in the topic.  Secondly, if they do, I doubt they suddenly discover South Georgian Bay for the first time and I doubt even more that any ad, usually 30 words or less, will cause them to make a new life plan.  No, in reality, the buyer likely already has an attachment to the area be it in past vacations, friends who have invested or moved here or maybe they already own property in the area. 

This buyer is affluent and educated.  If they are in the market for a luxury home, the probability is extremely high that they will search on the internet for available listings to see what’s out there.  They will visit the area and will likely solicit the recommendations of family or friends to find a good area.  They’ll drive around, right down some addresses and head back online for details.  They’ll eventually hire a local REALTOR® if they are serious.  In other words, they are not looking for a two line ad in a paper that cost some agent hundreds of dollars to run with no results.  Trust me on this, I know.  I know, oh how I know!  They are using the internet, signage and salespeople as well as family and friends.

So, a good start for a new listing in this category is for the listing agent to host an Agent Open House inviting other REALTORS® to view and learn about the home.  If you can’t sell the agents, chances are you’ll have a tough time selling anyone else.

Secondly, make sure the house is easy to show and that the owners are absent during the showing.  Most clients ask that the listing agent be present in the background and therefore available to answer specific questions that might arise.  Make sure the keys work, the alarm system is addressed with the agent, that the house is in top notch showing condition and that pets are removed from the home.

Now that the house has been priced, prepared, staged, shown to other agents and is easy and ready to show, the real marketing begins. Naturally, that involves signage, placing the listing on the MLS® Multiple Listing Service and preparing feature sheets. But there’s more.  Much more.

Coming Soon:  Marketing A Luxury Home in Collingwood ~ Blue Mountain;  Part 3

Related Posts:

Selling a Luxury Home in Collingwood – Blue Mountain
Marketing a Luxury Home In Collingwood - Blue Mountain; Part 1

Do you like what you’re reading?  Click here to subscribe and we’ll send new blog posts directly to your email inbox.  P.S. Bloggers like comments!

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who is ready whenever you are!

“Will you advertise my home in the Globe & Mail?”
That is probably the most common question sellers of upper-tier homes ask when we discuss a marketing plan for selling their home.  Is it the right question?

As mentioned in a previous post, there has been a dramatic increase in the number of luxury homes built in the Collingwood ~ Blue Mountain area over the last several years. Generally, the top 5% of our market would be homes with values over $550,000.  That would represent about 80 to 90 homes sold each year in our South Georgian Bay marketplace and of these, less than 1% exceed the million dollar mark.

As time goes by, more of these homes are being offered for sale in the resale market and that means REALTORS® are having to learn new marketing skills.  Since less than 5% or maybe even less than 1% of potential buyers are looking for an upper-tier luxury home, the market is very, very narrow.  Spread this out over our large geographical area and the odds are even slimmer.  So how do you make sure your luxury home attracts the attention of those buyers?

First of all, people like to associate with other like people. Selling a luxury home that is surrounded by lower valued homes is like trying to push water upstream. If a home has a special location such as a high-end waterfront community, the odds improve dramatically.  So, a good place to start is by knowing and appreciating the location.  Marketing it means building the story of the area; the history, the neighbours, the amenities and the value.

Secondly and very importantly, setting the right price is critical and yes, difficult.  Potential sellers should see the competition and know the other homes that are for sale or have sold in their area.  In luxury homes, size matters but more importantly, the quality and finishing plays a large role.  I was recently in a large home listed for sale for over one million dollars and located in a high-end neighbourhood. The quality, or should I say lack of quality was astounding. Low-end stock cabinetry, laminate flooring, gold metal hardware, laminate countertops, builders grade light fixtures and 30 ounce broadloom simply don’t reflect the asking price! People are not stupid and they know what they are looking at.

Next up is preparing the home for sale.  Everything from de-cluttering to a detailed cleaning of every ledge, corner, picture frame and cupboard is essential.  The house should show to perfection and be comparable in style and taste to a professionally designed model home.  A consultation with a designer is often advisable and may include bringing in alternate furnishings, lights or art work.  The outside cannot be over-looked either.  A fresh coat of paint on the garage, trimmed lawns and healthy gardens reflect good care in a home.

Coming soon¦Marketing a Luxury Home; Part 2

Related Posts:
Selling A Luxury Home in Collingwood – Blue Mountain
Then and Now: Two Decades of Change in Collingwood ~ Blue Mountain
Do You Know The Most Important Factors That Will Get Your Home Sold?

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who is ready whenever you are!

Just a few years ago, it was pretty rare to see a home sold for over a million dollars in South Georgian Bay.  Today, there are 1-2 luxury home sales each month and we’re starting to see homes topping two and three million dollars.  One property in the area is listed for far more.

Luxury homes often take more than a year to sell even in a strong market.  Currently in our area, there are 34 residential properties for sale ranging in price from $1,000,000 to $9,985,000.  In the last six months, there have been 8 sales so, at the current rate, there is better than a two year supply of “inventory” of high-end homes not including the vast number of custom and new homes available as well.

As a REALTOR®, taking a listing for a high-end homes requires careful thought.  Yes, commissions on luxury homes are substantial but so are the costs and demands plus, money invested is never recouped if the house does NOT sell during the listing period.  Imagine listing 5 homes, spending thousands on marketing each one and none sell.

I recently listed a luxury home that is one of the finest crafted homes in the area.  Since this type of offering is growing in our marketplace, I think it could be useful to look at some of the considerations involved in marketing upper-tier properties.

The first step is to work with the Sellers in establishing an asking price.  Comparing size, number of bedrooms and such is not nearly enough since not homes are created equal.  I’ve been in homes over a million dollars where the interior finishes were no better than those found in a $200,000 subdivision home.  Seriously.  Pricing means knowing the intricacies of comparable properties in regard to neighbourhood, design, workmanship and quality of materials in the home.  It’s critical to know the competition, to know the neighbourhoods and to understand the potential buyer profile.

Coming soon:  Marketing Luxury Homes

Related Posts:

Do You Know The Most Important Factors That Will Get Your Home Sold?
What’s Better: A “Beautiful” Home or a “Neat and Clean” Home?

Do you like what you’re reading?  Click here to subscribe and we’ll send new blog posts directly to your email inbox.  P.S.  Bloggers like comments!

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!