If you are trying to market a luxury property, it is likely that you have already realized that the traditional open house, a weekend drop in with light refreshments, just won’t cut it. While it is true that the real estate market is rebounding and many cities are hot buyers’ markets, it is important to remember that not all properties are snatched up immediately, even in the hottest markets around. And high-end luxury properties with a matching price tag are often the listings that can sit on the market the longest.
As a real estate professional or home seller, this leaves you in the challenging position of figuring out unique and exciting ways to market your luxury property. And there is no better opportunity for this than the open house. Open houses allow you to flex your creative muscle and there are literally limitless ideas for marketing your property listing, allowing you to show off your event planning and creativity skills, putting together an open house that will not only generate buzz in the market, but will keep potential home buyers talking long enough to land you a sale.
But how do you get started? Again, the traditional open house that will work for most homes simply will not be enough for your luxury listing. Rather, this event will need to be well thought out and designed, in order to attract the right prospective buyers and leave a positive impression and impact.
Here are 3 tips to help sell your luxury listing with a lavish, over the top open house:
As any real estate professional will tell you, attracting the right buyers is critical in selling your listing. And nowhere is this more true than in the luxury real estate market. So why should you go all out when planning an open house for your luxury home? The answer is simple. There is so much strategy and planning that goes into deciding how to market your home in an open house. While quantity is the name of the game when it comes to marketing most open houses, when it comes to luxury properties, you want to focus on the quality of the potential home buyers you are attracting, rather than the quantity.
After all, you want to be marketing to just the right people -- in other words, the potential buyers who are able to afford the property. And, as the saying goes, “luxury attracts luxury.” Having a luxurious, extravagant event will help you attract the right buyers, increasing the odds of a successful event and subsequent sale.
In keeping with the theme of attracting the right buyers, you want to give your open house event an air of exclusivity and luxury. For this reason, consider hosting an open house that is by invitation only. Art shows tend to be widely used in luxury open houses fort this purpose. Believe it or not, this strategy can often bring in potential buyers who are primarily interested in attending for the art, but who may end up falling in love with the home in the process.
In these cases, you want the open house to be a private, luxurious affair -- this gives the listing a homey feel that simply can’t be reproduced, which increases your chances of a successful sale.
When it comes to marketing a luxury home, incorporating an exciting and engaging theme can make all of the difference. While you may have a large budget set aside to market your listings through traditional channels, these budgets don’t necessarily translate to your events or open houses. This is where a little creativity can go a long way. Think outside of the box when it comes to listing your luxury property. Your added efforts in this area can help you create an open house that is hard to forget, generating tremendous buzz around your listing and leading to the ultimate goal -- the sale of your listing.
So now you have an idea of how to get started with planning your open house. Perhaps you even have an idea or two of themes that you would like to incorporate. But how do you go about finding the right buyers to invite to your open house? This is where we come in.
At OpenHouseDay.com, we have created a revolutionary process for connecting home buyers and sellers. Through our platform, prospective home buyers can get an accurate and up to date view of open houses for available properties that meet their exacting search criteria, and save the listings that they are most interested in. Conversely, home sellers and real estate professionals can get the most out of their marketing efforts, by making sure that engaged and qualified home buyers discover their listings and help fill their open houses.