5 tips for selling luxury apartments

Selling luxury properties is a real art. Be it a house or an apartment, every home has its own particularity and character, and every approach to the client is individual and customized according to his wishes and needs. The deal isn't limited to just handing over the key to the new owner. At Unique Estates, we like to say that we don't sell properties - we sell homes. Because home is where it all begins!

Which apartments are considered "luxury"?

In the high segment, the real estate market is different. Realization of the property goes through several stages, and sometimes the process is longer. Luxury apartments represent a smaller part of the total number of listings offered in a given area. Most of them are located in prestigious neighborhoods, newly built buildings, closed complexes or cooperatives with round-the-clock control and in a keylocation. In addition to the architecture, the facade and the common parts of the building, the luxury home is evident in the design of the interior, the furnishings, the quality of the materials used. The high ceilings, functional layout and panoramic city and mountain views also contribute to the overall feeling of luxury. Last but not least, the space itself and the story behind it are important - the way the realtor conveys it to you and the feelings it awakens in the buyer and how he finds potential benefits in his eventual living in the apartment.

5 tips for selling a luxury apartment

In every form of trading and sales, there are master methods that experts are very well versed with. Proven professionals with many years of experience, however, know some subtleties of the challenges in business, with which they can guarantee the realization of a deal under the best conditions and in the shortest time. Unique Estates consultants present you with five key tips to consider when selling your home.

Know your target groups

The luxurious and demanding apartment implies an equally sophisticated clients. Today's buyers are well-informed about market dynamics, know how to source information and where to look for the best deals. They are aware of their criteria and rarely compromise on quality, price, or lack of something important to them. We recommend that you find out what type of buyer your property is, what his profile is. Is the apartment suitable for a person who will live alone because he likes privacy, silence and space. Is the location of the property convenient for families with children? Whether the home would be enjoyed by young and ambitious people who would feel comfortable in it because it suits their style and lifestyle. Think about the target group and where to find them. When selling your apartment, emphasize why it is the perfect choice for the buyer - what advantages it has over other offers on the market, what benefits it provides, what problems it solves for the future owner. Get to know him, step into his shoes, understand his personal story. When you reach the heart of a person, it is much easier for him to trust you, to accept you as a true professional and to be inclined to complete the deal with a purchase.

Choose an agency that has experience in the niche

The sale of a property can happen with or without an intermediary in the form of a real estate agent. However, we advise you to trust an agency if you want to achieve satisfactory results in the shortest possible time and with the most profit. Do a research on agencies in the market by finding out about a company's history, its awards and achievements, memberships in organizations, participation in international forums, conferences, events and more. This will give you an insight into the positioning of the company, its reputation among others and the transparency of the services it offers. An agency like Unique Estates specializes specifically in luxury real estate and has an established name in Bulgaria for more than 17 years. You can learn about the progress and development of the company from the modern processes it implements, the expansion of the portfolio of properties and services, the growth of the team and the modernization of management methods and technologies. The choice of your personal broker can be judged by the completed courses and trainings in the field, good knowledge of the market, negotiation skills, timely and constant communication, combined with a friendly and professional attitude.

Take professional photos of the property

First impressions and a good presentation are crucial both live and online. Bet on quality and quantity and hire a photographer to take impressive photos of your apartment with professional equipment and lighting. In relation to the exhibition of the property, choose a suitable time range of the day during which the residence is maximally bright and illuminated by the sun, but so that the photos do not "burn". If you want to create a more romantic feel or have a spacious porch that you want to highlight - you may choose to capture sunset or moonlight shots. Take pictures from all angles so that the prospective buyer can get a good idea of what is where. It is mandatory to complete with a sketch with the square footage of the individual rooms, in order to get an even better idea. With the help of new methods and applications, you can make a 3D 360-degree virtual walk around the property, in this way the user can move with the cursor and walk around the entire apartment. Video is also highly recommended, you can put a human figure on it to make it even more effective and touch the viewer. The actor in a frame can open the curtains in the morning, turn on the coffee machine, walk to the sofa or admire the view of the city. The human element creates a connection and is a good approach when presenting.

Find a balance in price selection

Determining the right price is one of the most difficult things in selling. It makes sense to want to take the maximum and gain as much as possible from the deal. If you set a price that is too high, you risk the property remaining unsalable for a long time, thereby stagnating and wearing out on the market. If you underprice the property too much in an effort to sell quickly, there's a chance you'll end up getting a lot less for your property than it's actually worth. That is where the real estate broker comes to the rescue again. He knows the dynamics of the market, the rates of supply and demand, the different types of sellers and buyers, the characteristics of the area and of the home, trends and statistics. The agent can make an objective and realistic assessment to advise you on the value of the apartment. Through commercial approaches, he can maneuver the price, lowering it at a certain point to make it attractive, as well as offer to the right people with budget and how much they can negotiate.

Use social media

In the 21st century, we are witnessing inexhaustible sources of information, innovations in technology and applications, and thousands of advertising opportunities. Studies show that more people choose their new homes spontaneously while surfing because they literally fall in love with them at first sight than from purposefully searching for a property for hours. In addition to traditional real estate portals and publishing the ad on the real estate agency's website, choose several social networks with which you will reach an even wider audience. Think about the type of content and the tone of the communication – whether you will follow a strict corporate voice or go for a humorous or inspirational approach. What will your presentation be - a short video to arouse interest so that they call you or a long video providing in detail the necessary information; whether you will only hint with a few detail photos of the furniture, or tell the whole story of the home - the choice is yours! Social media is a powerful marketing tool worth investing in to sell your luxury apartment.