A pool is a key feature of luxury properties (Photo: Unsplash/@fensterschmidinger)
Cover A pool is a key feature of luxury properties (Photo: Unsplash/@fensterschmidinger)

Expert tips on how to sell your luxury home quickly and profitably

No matter how the property market is doing, selling your home swiftly and at an attractive price is always the goal. Selling a luxury property can be more daunting due to the higher financial stakes and a limited buyer pool. Not to mention unique features, higher expectations and complex legal and economic aspects.

Effective marketing, a strong network, and expert guidance are often essential for a successful luxury property sale, and Reeve Thang, deputy managing director of Knight Frank Property Hub, has some advice. 

“Whether you’re moving, downsizing, or seeking a change, the real estate market can be both competitive and complex. However, with the right strategies and careful preparation, you can significantly improve your chances of a successful and lucrative home sale,” says Thang.

“Creating high interest in your property is paramount, especially when aiming for a quick sale. The more potential buyers you attract, the better your chances of achieving a fast sale at a favourable price.”

Here are Thang's essential tips for a speedy and profitable sale of your luxury home.

Read more: For crazy rich Asians in search of exclusive experiences, are branded residences the answer?

1. Collaborate with a knowledgeable real estate agent

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Work with an experienced professional (Photo: Unsplash/@Scott Graham)
Above Work with an experienced professional (Photo: Unsplash/@Scott Graham)

The journey begins with selecting an experienced real estate agent specialising in the luxury market. Their insights, market expertise, and negotiation skills tailored to high-end properties are invaluable.

Tap into their extensive network to connect with potential buyers and benefit from comprehensive support throughout the selling process, from scheduling viewings to negotiating the best deal.

See also: 10 tranquil modern resort-style homes around Malaysia

2. Present your home impeccably

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Ensure your home is well turned out (Photo: Unsplash/ @R Architecture)
Above Ensure your home is well turned out (Photo: Unsplash/ @R Architecture)

First impressions matter significantly in the luxury market. Enlist the services of a professional stager to create an inviting and opulent ambience that highlights your property’s potential.

Emphasise unique features such as spas, pools, home theatres, wine cellars, or smart home technology. Declutter and depersonalise the space to help buyers envision themselves living there. Address any necessary repairs and maintenance to present a well-maintained home.

Don't miss: Home tour: A tropical modernist Miami home with stunning art deco influences

3. Price your home competitively

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Consider pricing when sell your home (Photo: Unsplash/ @R Architecture)
Above Consider pricing when sell your home (Photo: Unsplash/ @R Architecture)

Partner with an experienced luxury real estate agent to obtain an accurate appraisal and a detailed Comparative Market Analysis (CMA) for an informed pricing strategy.

Initiate your luxury home sale with a competitive price, as overpricing can deter potential buyers. Flexibility in pricing may be necessary, with your agent making adjustments to attract more attention if initial interest is lacking.

Read more: Home Tour: A stylish London house inspired by Danish hygge and Japanese wabi-sabi

4. Implement an exclusive marketing campaign

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Choose the media you wish to advertise your home on wisely (Photo: Unsplash/ @Priscilla Du Preez)
Above Choose the media you wish to advertise your home on wisely (Photo: Unsplash/ @Priscilla Du Preez)

Marketing your luxury property requires a distinct approach. Invest in top-notch professional photography and videography to showcase your property’s grandeur. Advertise in exclusive luxury real estate publications, websites, and consider targeted social media campaigns aimed at high-net-worth individuals.

Organise private viewings to create an exclusive and personalised experience for serious buyers, and consider professional virtual tours to facilitate viewing for overseas or out-of-town buyers. Engage potential buyers and generate interest through open house events.

See also: Ask a designer: 5 ways to create a luxurious hotel-inspired living room in your home

5. Enhance curb appeal

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Invest in a fresh coat of paint to improve curb appeal (Photo: Unsplash/ @Zac Cain)
Above Invest in a fresh coat of paint to improve curb appeal (Photo: Unsplash/ @Zac Cain)

Elevate your home’s curb appeal with landscaping improvements, a fresh coat of paint, and minor exterior enhancements.  First impressions count and an attractive exterior sets the stage for a positive viewing experience.

Don't miss: Home tour: An award-winning bungalow renovation for a young couple in Kuala Lumpur

6. Offer flexible showings

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Showings are an important aspect of selling a luxury home (Photo: Unsplash/@Jason Leung)
Above Showings are an important aspect of selling a luxury home (Photo: Unsplash/@Jason Leung)

To cater to the schedules of different buyers, be open to scheduling showings at various times. Accommodating potential buyers’ preferences can significantly increase your chances of a quick sale.

Read more: Home tour: An eco-conscious home in Las Vegas with breathtaking desert views

7. Prioritise security and privacy

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Security and privacy are paramount for high profile homes (Photo: Unsplash/@Tom Nora)
Above Security and privacy are paramount for high profile homes (Photo: Unsplash/@Tom Nora)

Respect the seller’s and potential buyers’ privacy throughout the sales process. Implement security measures during showings and open houses to safeguard valuable assets and maintain confidentiality.

See also: 8 Scandinavian design trends for a home update

8. Highlight the luxury lifestyle:

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A luxury home is usually accompanied with a luxury lifestyle (Photo: Unsplash/@David Hieb)
Above A luxury home is usually accompanied with a luxury lifestyle (Photo: Unsplash/@David Hieb)

Don’t just focus on the property; also emphasise the luxury lifestyle associated with it. Highlight proximity to exclusive clubs, golf courses, upscale dining, and any other unique amenities that come with the property.

Don't miss: Home tour: A designer couple’s meditative home in Selangor, Malaysia

9. Be flexible in negotiations

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Be open to negotiation (Photo: Unsplash/@Charles Forerunner)
Above Be open to negotiation (Photo: Unsplash/@Charles Forerunner)

Demonstrate flexibility in negotiations. Be prepared to negotiate on price and terms to attract serious buyers and handle counteroffers professionally with an open mindset.

Read more: 5 Japandi-style hotels to get cosy in

10. Consider a pre-inspection:

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Having a pre-inspections is an advantage (Photo: Unsplash/@ Ярослав Алексеенко)
Above Having a pre-inspections is an advantage (Photo: Unsplash/@ Ярослав Алексеенко)

Consider a pre-inspection to identify and address potential issues before they become deal-breakers. A proactive approach can instil confidence in potential buyers.

See also: The Tatler guide to renting a black-and-white house in Singapore

11. Address legal and administrative aspects:

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Organised paperwork helps in negoatioations (Photo: Unsplash/@ Derek Thomson)
Above Organised paperwork helps in negoatioations (Photo: Unsplash/@ Derek Thomson)

Familiarise yourself with local real estate laws and regulations and ensure you have the required paperwork for the sale.

Be prepared for the closing process and provide comprehensive documentation on the property’s history, maintenance records, and recent upgrades. Conduct thorough inspections and address potential issues proactively to streamline the closing process.

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