The Burlington real estate landscape is varied and diverse, consisting of some truly exceptional homes! From the quietly luxurious residences sprinkled throughout the Aldershot, Brant Hills or Elizabeth Gardens neighbourhoods to the opulent enclaves of Roseland or Shoreacres, discerning buyers have a world of options. 

Is the process of selling one of these upscale homes in Burlington really different than any other property? Though many of the steps are the same, going above and beyond can help your listing stand out, especially in the eyes of an affluent buyer. In this post, we’ll talk about the small details that can have a big impact on the value of your sale.

Inside the Mindset of an Affluent Buyer

Perhaps the biggest difference in selling a luxury home is in the mind of your buyer. Unlike first-time buyers, someone looking for an upscale property isn’t just looking to break into the market in any way they can. 

They are also not likely buying for their needs, but for their wants. 

This small distinction makes all the difference in the world. A high-end homebuyer is usually experienced, discerning and in no hurry whatsoever. They are more than happy to take their time until they find exactly what they are looking for, and rarely will they ever settle for anything less. Knowing your potential buyer’s state of mind will help you prepare, position and market your listing for the maximum chance of success.

Knowledge is essential, especially when selling a luxury property. The posts below will help you become an educated seller:

• What’s Your House Really Worth?
• A Back to Basics Guide to Maximizing Your Sale
• Worth It or Not? What Renovations Really Help When Selling Your Home

Luxury Real Estate Is Different

The standard real estate market can fluctuate and change almost on a daily basis. It’s more affected by supply and demand, changing interest rates and the state of the economy. The luxury market, on the other hand, is far more insulated from these outside factors. 

Typically, there are fewer homes for sale and fewer people looking to buy them. And since those buying them tend not to be in a hurry, the average transaction can take longer from start to finish. Patience is one of the most critical elements for the successful sale of a luxury home!

Begin With a Detailed Home Evaluation

Before listing your home on the market, you want to have an accurate idea of what it is worth. Its value will depend on several factors, including square footage, location, condition and comparable properties in the area. 

The right price is essential in any real estate transaction, but especially when selling a high-value property. This is one piece of the puzzle you do not want to leave to chance. A local real estate team with experience in the high-end market can perform a detailed CMA (Comparative Market Analysis) to ensure you hit the market at a price that will reflect the value of your home and generate maximum interest from qualified buyers. 

Meticulous Attention to Detail Pays Off

We’ve already established that high-end buyers often take their time. They also tend to be much more educated and savvy about the market than those searching for their first home. As a result, you will need to be meticulous when preparing your listing for the market. 

A quick tidy-up and a simple coat of fresh paint may not suffice for the scrutinizing buyer. To earn top dollar, you’ll need to ensure every aspect of your home makes an outstanding impression.

• It begins with curb appeal to catch your buyer’s eye before they even see inside your home. Beautiful landscaping, colourful gardens and high-end outdoor furniture and fixtures set the stage perfectly.
• Don’t just clean your house; scour it top to bottom to ensure every piece of clutter is out of sight and every room sparkles.
• Upgrade lighting fixtures and hardware to provide a polished effect throughout your home.
• Staging with high-end furnishings and accessories can captivate a buyer’s imagination and increase their desire to place an offer on your home.
• Invest in professional photography, videography and floorplans. Many buyers will find your listing online first. High-quality marketing materials will help to entice them to visit your home in person.

Targeted Marketing Is Even More Critical

Many people might love the idea of living in a sprawling home on an expansive rolling lot in the heart of the wealthiest neighbourhood. However, only a small number of individuals have the ability to make it happen. Unlike a standard listing, you do not want your marketing to reach anyone and everyone. Instead, you want your campaign to be highly targeted and strategic. Here is an overview of what your marketing plan might look like:

• Beautiful print marketing and feature sheets since many luxury buyers are in an older demographic. They like information pieces they can see and touch in addition to online information.
• Email and physical mail to qualified buyers with demonstrated interest and the means to buy an expensive property. Many will have purchased luxury real estate before.
• Newspaper and magazine advertisements with a significant readership of high-worth individuals.
• Networking through other real estate agents and brokerages to match luxury properties with interested buyers.

As you can see, the process of marketing an upscale home is much more involved than a regular listing. It’s not about reaching the most people. Often, it’s about reaching the most qualified. 

Do you want more insights on successfully selling a home in today’s challenging market? The resources below will help:

• Our Full-Service Real Estate Team’s Guide to Marketing Your Home
• The Power of Staging When Selling Your Home
• Minor Upgrades, Maximum Results

Selling Your Home, Respecting Your Privacy

Everyone loves looking at beautiful fancy houses, as evidenced by the popularity of magazines like Home and Garden and Elle Decor. Then there are the cars that slow down so the drivers can gaze at the jaw-dropping estates along Lakeshore Road. 

That’s why it’s critical to work with a real estate team that knows how to present, price and market high-end listings who will also respect your privacy. Otherwise, you may have people wandering through your home out of curiosity but with no intention or ability to buy.  Surrounding yourself with professionals is the best way to sell your luxury listing for top dollar while maintaining discretion and peace of mind throughout the process.

Do you have questions about selling an upscale home in Burlington? We are here to help you plan and strategize. Contact us today or call (905) 332-9223 for more information.