Selling Luxury in Texas: Proven Strategies

Selling Luxury in Texas: Proven Strategies

Houston's East End community is made up of a patchwork of residential neighborhoods filled with culture and historical relevance. From vibrant downtown entertainment venues and shops to cultural institutions and the murals that decorate many spaces, the district is filled with countless hidden gems.

Alongside these treasures, the real estate market in the East End is thriving. The area offers single-family homes, townhouses, and condos in all shapes and sizes. Many housing options in the area are recognized for affordability and proximity to job centers. However, the luxury home market in Houston’s East End definitely active. If you're planning to sell a luxury home in the East End, it's imperative to plan ahead to sell to the right audience. Check out our tips on selling luxury in Houston.

Know Your Competition

You're not alone in your efforts to sell a luxury home in Texas. The number of Texas homes that sold for $1M or more from November 2021 to October 2022 increased by 17% over the year before. That being said, these homes spent an average of 47 days on the market, which is longer than other homes on the market. To grab the attention of buyers seeking a luxury home, you need to determine how your property stands out from the competition and highlight those qualities.

Luxury home buyers are not average Joes – these are people experienced in real estate purchases. They have a firm understanding of the components they want from a property and often aren’t willing to negotiate those items. Some buyers are interested in the value of the location, while others seek a wealth of space and luxury features and upgrades. By examining comparable homes in the area and determining what makes yours attractive to your target buyer, you can craft a listing that will get noticed and mitigate those days on market.

Develop a Concise Market Plan

A luxury home requires a very unique level of marketing. Prospective buyers may be coming from another community or state, and may be looking for a needle in a haystack. To gain the attention of the buyers best suited to your property, your marketing plan will need a wide reach and a professional touch. The online marketplace makes it easy for home sellers to gain a nationwide and global audience, but it takes more than that.

You need to be able to focus your efforts in the right direction and apply the polish that luxury home buyers will expect. In most cases, this level of marketing will require partnering with a local realtor with ample experience selling luxury properties and the resources to produce a professional marketing campaign.

An Experienced Agent is Everything

Real estate agents have the education, experience, and resources to help property owners sell their homes. However, the luxury home market is distinctive in the high level of expectations and the selling process. As such, working with an agent with a wealth of experience in the luxury market is essential.

By partnering with a luxury realtor with a network of resources for selling these properties, you can get your property in front of your target audience no matter where they are. Agents with experience in luxury homes often have an in-depth understanding of the local market, but they also have something many agents don’t have – connections. This can be in the form of qualified buyers or connections to agents in other markets, where your buyer may generate.

A good agent who is well-versed in luxury properties can showcase their testimonials of satisfied clients as well as a portfolio of their prior transactions. Beyond that though, working with an agent who understands your needs and is someone you like being around will be invaluable. At Eastwood Realty, our clients become friends for a reason.

Expand your Focus

A luxury property is more than a home. It's a lifestyle that pampers the occupants and promotes total satisfaction. Your marketing efforts should reflect everything that owning your property brings with it. Do you own waterfront property? Did you add green-home upgrades? The lifestyle that comes with the home should be at the forefront of your marketing strategy.

The special features of your home will also serve to attract buyers. The unique high-value features of your home will be its main selling point. For instance, if you have a wine cellar, a remarkable outdoor kitchen, or an ideal location, put that front and center. Photographs, videos, and listing descriptions should prominently showcase stand-out elements that imply exorbitance to potential buyers.

Utilize the Value of Imagery

A picture is worth a thousand words, but inferior photos can diminish buyer interest. Subpar photos don't cut it in the standard real estate market, and the sentiment is doubled when selling luxury homes. To attract potential buyers, you'll need to focus on both quality and quantity when it comes to photos. A multitude of still photographs, videos, and a virtual tour will be essential to develop a high-quality listing. Drone shots can boost your listing and serve to showcase your location. Investing in professional photography is well worth the ROI, and we can recommend photographers with experience in luxury homes.

Professional Staging

Staging a property is a crucial step that can help buyers envision themselves living there. To prepare your home for the examination of prospective buyers, de-personalize, declutter, and optimize your space. Extra furnishings should be removed to showcase the size of each room, and eliminating clutter will highlight clean lines and high-end smooth surfaces. Tastefully applied accessories will provide the finishing touches and draw attention to your home's opulence.

Staging any home requires experience. However, staging a luxury home is an art that requires in-depth market knowledge. While a top luxury realtor can provide inspiration based on what buyers expect to see, a professional stager makes the process successful by highlighting your home's most exclusive features.

Partnering with Eastwood Realty to sell your East End luxury home

The housing market in Houston’s East End is flourishing, but it can be challenging to navigate. If you're selling a luxury property, you need a partner who knows the ins and outs of the process and has a wealth of local experience. Contact us at Eastwood Realty and let’s chat all things luxury!

*Header photo courtesy of Eastwood Realty

Work With Us

Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact us today.

Follow Us on Instagram