Listing Courtesy of VICKIE YORK AT THE BEACH REALTY
If you own a luxury home in Bethany Beach, this will be good to know: according to researchers at DataQuick, the number of homes sold at more than $1 million rose nationally by 37% in the first half of 2013. Recently, the Wall St. Journal headed its Mansion section with “the recovery in high-end real estate,” and Bloomberg reports that luxury home prices in the biggest four cities that had fallen nearly 46% during the downturn have now more than doubled.
If the formerly-missing luxury home buyers have been buoyed by record-breaking Wall St. returns, it’s not surprising that they’re now ready to come out of hiding. For some owners of luxury homes in Bethany Beach, that’s what they’ve been waiting for.
Of course, marketing a luxury home in Bethany Beach takes a deft hand. Selling any product in the luxury category requires some familiar skills: since the price tags are top-tier, the buyers require service and goods to match. The ‘customer’ is a successful person; someone whose time is important; who is likely well-schooled in discerning quality that goes beneath the surface and who won’t hesitate when it comes to making important decisions.
To appeal to discriminating prospects, you need first class marketing. Briefly, here are some of the technical points I advise my clients to keep in mind when I list their luxury homes:
We will be targeting a very narrow segment of the population. Our advertisements need to be placed on websites and in luxury publications that those buyers frequent. It’s important to realize that placement in elite publications will enhance a property’s perceived value by association.
When people purchase a luxury property in Bethany Beach, they aren’t just buying a house; they are reinforcing a preferred way of life. That means the community should be a prime selling point. You have insider knowledge of your community—knowledge that I as your agent can use in marketing. When potential buyers have a sense of being in the know, it allows them to more confidently picture life in their new community.
Successful people usually regard themselves as standouts because, well…they are! It’s hard to find the luxury home buyer who wouldn’t choose a distinctive property over one that, even though luxurious, isn’t special in some way. That’s why we carefully identify the points that make a luxury home in Bethany Beach unique—then tell that story!
If you are preparing to sell your Delaware luxury property, it’s also important to team with a Realtor® with the contacts and networks that keyed to that segment. For a completely confidential property evaluation, contact me today to see what your luxury home might be worth in today’s market!
Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
They don’t teach this in high school, but maybe they should. The difference between a Bethany Beach buyer’s agent and a Bethany Beach seller’s agent can be pivotal, yet first-time home buyers have to figure that out on their own. You can read quotes on the web that say things like, "I looked for a buyer’s agent instead of a real estate agent" (true story!) that illustrate how little knowledge is out there. It wouldn’t take much classroom time to explain that buyer’s and seller’s agents are both real estate agents, after all. And while the subject is being explained to the class, I’d put in these five very good reasons for using a buyer’s agent in Bethany Beach home purchases:
1. There for You
A buyer’s agent is by definition obligated to promote the interests of you, the buyer. When you are being shown a home by a personable real estate agent, it’s tempting to simply go with that agent, who may be quite a nice person. After all, he or she knows the house and knows the seller. But the problem is that the agent is duty-bound to act on behalf of the seller—and in any business negotiation, you want somebody who is unequivocally in your corner. Especially since-
2. It’s Free!
A buyer’s agent is compensated through a commission. In this case, it is paid out of the proceeds from the sale price of the house. You’re reading that right: since it issues from the sellers’ proceeds, you get the service for free! Of course, the size of commission the buyer’s agent receives can impact negotiations if the seller thinks the rate is unreasonable. Remember that you can negotiate most things, including agent compensation.
If you rely on the listing agent, he or she can only answer certain questions that don’t transgress their duty to the seller. Issues like price, tactics, and timing can be crucial in striking a good deal—but it is precisely on those kinds of issues that a listing agent is likely to be unable to advise you. Especially if you like the agent, you might be tempted to assume silence on a point means endorsement; and that could be a costly misunderstanding. Again, a buyer’s agent in Bethany Beach knows the area market from the buyer’s perspective, and can provide a wealth of information that point you in the right direction.
4. Your Personal Traffic Cop
In a typical real estate transaction, you will encounter an array of players, including lawyers, the seller or sellers, the seller’s agent, the financial institution, the home inspection team, and on and on. Buyer’s agents keep things running smoothly. They help organize the process so it makes financial and emotional sense to choose your buyer’s agent carefully.
5. It’s Free!
If ever there were something worth repeating…
The point worth remembering is that buying a house or a condominium is such a major event, securing a professional to watch out for your interests is good common sense. It’s why giving me a call even before beginning any house-hunting venture is a very good idea!