Welcome to the world of luxury home sales—turns out, it’s tougher to find a buyer for your high end home than you might’ve expected.
In Santa Barbara and the Santa Ynez Valley, luxury homes are listed at higher price points, naturally—and as a result, they attract a smaller audience with the budget to buy them. The bottom line? It’s not easy to sell a luxury home on a limited timeline, but there are a few strategies you can implement to ensure your home catches the eye of a well qualified buyer.
Throughout the selling process, it’s important that you team up with a real estate professional who is well-versed in the language of Santa Barbara and Santa Ynez luxury homes.
There are some unique considerations that come with the territory of exclusive, high-end homes. Partnering with a pro who’s been there before is all but required. Their unique insight and expertise will come in handy.
Be sure to kick off the process with well-managed expectations. Even in the hottest market, there’s a chance your home won’t sell as quickly as you think it will. Be prepared to be patient–the perfect buyer will come! Increase your chances with these five tips and tricks to sell your luxury home in the Santa Ynez Valley or Santa Barbara:
1. Market to sell
It’s time to put on your marketer’s cap–let’s sell this home! There are more options than ever before to make a splash with your listing so you can catch the eye of the buyer you’ve been dreaming about. Whatever marketing you invest in, ensure that it’ll attract a luxury buyer. Think glossy collateral with high quality photography and smart graphics, high end video content, and fashion-forward staging. Put yourself in your buyer’s shoes and think about what’s on the wishlist for their next home–lead your listing with those features.
Highlight how awesome their life will be once your buyer has those things as part of their everyday life. Here’s a great place to start: When you’re in tune with the aesthetic your dream buyer will love, create editorial content for your listing to match. I’m talking high end photographs, luxury video, and refined collateral. Help them envision themselves in the home and all the milestones they’ll celebrate (and the main character moments they’ll enjoy). Make it about their dreams and you’ll sell this home in no time!
2. Keep the open houses limited (and exclusive)
Now that your home matches the luxury aesthetic that your price point indicates, it’s time to make the buying experience feel that way, too. Rather than hosting a traditional open house, invite showings of the home by appointment only. Not only does this create a feeling of exclusivity, but it encourages visits from buyers who are truly interested to make an offer on your home. As the only buyer touring the home, you can cultivate an upscale, high-end energy showing by catering to their needs–and their needs only.
3. Manage your expectations
Here’s the bottom line: There’s a chance that your home may be on the market longer than you anticipated. Don’t get discouraged! It’s typical for a luxury home to stay on the market longer than most, especially if it’s priced over three million.
You can sell your home faster when you take this approach: Be specific about what makes this home incredible. What are the selling points that your dream buyer has on their wish list? How can you highlight the features that you know your dream buyer is looking for? When it comes to luxury homes, it’s likely your buyer knows what they want. Now’s your chance to lean into that.
4. Team up with real estate professional with luxury in their resume
It’s imperative that you join forces with a real estate agent who will guide you in the right direction, especially when it comes to navigating the luxury market in Santa Barbara and beyond. Like many industries, your real estate agent may have a niche they’re particularly well-versed in. Be sure the agent you hire is one who has expertise and a proven track record of selling luxury homes in Santa Barbara and the Santa Ynez Valley.
Do your due diligence to research the agent, find their reviews and testimonials, and don’t hesitate to reach out to previous clients with questions. A great agent will craft a thorough marketing plan to get the house sold, maintain their fiduciary responsibilities throughout the process (loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting), and have a solid, positive rapport with other agents in the area. These are the kind of agents that get listings sold!
5. Design and details matter
Think about the last time you viewed a real estate listing. Did you start by browsing the images or by reading the details? Buyers are more visual now than ever before, and when it comes to the luxury market, aesthetics count. Consider working with an interior design and home staging expert to set the scene for your dream buyer. Then, hire a photographer to capture it all! The white stucco buildings, crafted in the Spanish Style… The Cape Cod inspired homes on the coastline with acreage… High end, editorial photography that’s captured with intention can do worlds for a luxury listing. A smart set of images can cultivate a feeling and capture a dream–one that’ll attract the high ticket buyers you might’ve missed without it. You’d be surprised at how quickly (and handsomely) this can pay off!
In summary, selling a luxury home in Santa Barbara and the Santa Ynez Valley is no easy feat, but it doesn’t have to be difficult. Remember these five tricks to sell your luxury home so you can continue your journey in home ownership:
- Lean into strategic, smart marketing that speaks directly to your dream buyer. Ensure that your agent is ready to craft a marketing plan that’ll get your home sold.
- Limit open houses to create a feeling of exclusivity.
- Manage your expectations–your home may not sell as quickly as you think it will. And that’s okay! The right buyer will come along.
- Partner with a real estate agent with a proven track record in the Santa Barbara luxury market.
- Work with a professional to stage your home to attract a luxury buyer–and have a high end professional photographer capture it all for your listing. High ticket buyers want to be able to picture themselves in your home, in their aesthetic. Be sure you’re in tune with what they dream about so you can craft high end, quality content to match.