A lot goes into selling an upscale property. Since luxury properties are marketed to a specific pool of VIP tenants, you can expect the preparations to exceed what you’d typically have to do with an “ordinary” property. In this article, we’ve put together a couple of tips to help you prepare your property to appeal to the distinct tastes of VIP clients.
Stage Your Property
When it comes to putting an upscale property for sale, presentation is essential, especially when showing it to wealthy clients. That’s why you should consider staging your single-family home for showings. Staging is the process of preparing the property so that it appeals to a number of buyers. It involves making the home look more “move-in ready”. In another way, staging also helps to take advantage of turning a luxury property into a rental.
When staging an upscale property, it’s important to focus on the features that stand out. For instance, by placing a patio set, your potential buyers can imagine themselves winding down there. If your property has a grand dining room, it would be a good idea to add a table that’s fit for fine dining. That way, they can envision what their dinners will look like.
You can try to stage your property on your own, however, professional stagers and property management agents can offer a more hands-off approach. In most cases, it would be best to partner with the pros because they have the expertise in interior decor.
Improve the Curb Appeal
Million-dollar buyers won’t be bothered to see inside of the property if its curb appeal is poor. For instance, if your luxury property has an unmowed lawn, you can’t expect people to want to come in. They’ll be under the impression that the interior will be as bad as the exterior. If the property owner failed to maintain the exterior, then they probably failed to maintain the interior, too.
No one would want to buy a property that’s been neglected. That’s why it’s important to work with a property management company that can tidy up the outdoor area. They have connections with various contractors who can provide luxury maintenance services, such as pressure-washing your driveway, painting your patio, mowing your lawn, and more. They’ll ensure that your luxury property is as pristine as the rest of the luxury properties in the area.
Your goal is to get your potential buyers to want to see the rest of the property the moment they pull up the driveway. Remember, curb appeal acts as their first impression of your property, so be sure to spruce it up.
Depersonalize Your Property
Get rid of everything that you own, such as portraits on the wall, personal collections, and so on. You will want to provide potential buyers with a clutter-free space in which they can envision their own art pieces, pictures, furniture, etc. By depersonalizing your property, you’ll be able to help potential buyers imagine how the property might appear with their own belongings.
This is because your current decor can be a distraction to your potential buyers. They can even deter people from buying your property, particularly if your decor isn’t tasteful. A buyer, for instance, would struggle to see how their contemporary art pieces would work if your walls are covered in tropical wallpaper.
Turn the Bathroom Into a Spa
One aspect that separates a standard bathroom from an upscale one is the ambiance. Upscale properties tend to come with bathrooms that look more like spas than places to do your number twos. From the dim lighting to the smell of essential oils, these properties provide a spa-like feel that wealthy clients adore.
To sell an upscale property, your bathroom shouldn’t simply be clean – it should be immaculate. It should be the type of bathroom that you’d typically see at five-star resorts. The tile on the wall should sparkle, the shower curtains should be brand-new, and the counters should be decorated with white towels and toiletries. You can also use essential oils – such as citrus, eucalyptus, and lemon – to create a sense of calm.
Your bathroom shouldn’t be a bathroom, but a sanctuary where your potential buyers can imagine themselves unwinding after a long day.
Perform Minor Repairs
In some markets, it’s perfectly fine to sell a property that still needs some repairs. But if you’re marketing it to wealthy clients, bear in mind that repairs can break your sale.
No VIP client wants to purchase a property with cracked counter tiles, broken windows, etc. So, before you put up your property for sale, be sure to conduct minor repairs such as repainting the walls (especially if the current paint has faded), replacing cracked floor tiles, recaulking, and so on. As a rule of thumb, your potential buyers shouldn’t see your property’s problems, but instead, its potential.
A South Florida property management firm can identify what specific parts of your property need repairs. As a bonus, they also have a wide network of vetted vendors that can conduct the repairs for a reasonable rate.
Open Up the Space
Space sells. The more space your property has, the more people will want to buy it (particularly in areas where land is scarce). To do this, put away all of the clutter that you own. Open the curtains (if your property boasts a spectacular view, this is also your chance to flaunt it) and replace them with airy ones that allow the sunlight to pass through. If any lightbulbs need to be replaced, be sure to do so before showing the property to potential buyers.
You can also repaint the walls in a lighter color to create the illusion of a larger space. In general, buyers don’t like homes with bright walls and wallpaper, so stick to neutral tones such as white and off-white.
Upscale properties appeal to a narrower pool of clients, which is why they tend to stay on the market for an extended period of time. Fortunately, your property doesn’t need to suffer from the same fate. With the tips above, and with the help of a property management firm, you can sell your upscale property in no time.
Luxury Property Care provides expert property management services to South Florida real estate investors and property owners. When you partner with us, you’ll have a team who’ll prepare your luxury property for you, so you can sell it at your desired price ASAP.