In the high-end markets like Cherry Hills it is a brutal market with many agents all competing for business and every one of them has something that makes them “better” than the competition. In Reality Selling High End housing is no different that selling other homes. I have found that in the High End market there are lots of Ego’s and false idea’s being passed around that do nothing except cost the consumer money. This is why so many of the clients in Cherry Hills have their own Real Estate licence’s. Why would they pay a Realtor 2.8% to sell their homes when they can do it themselves and keep the 2.8%? It is a logical thought process that does not always work out for the seller. The other issue that comes up in the High End market is lavish spending on marketing. The reality is that 90% of Buyers are looking for their homes online and not finding them in high-priced magazines. So does this mean that you should front a large amount of money on a Website for your listing? I don’t think so, because unless someone is searching for your exact address they are probably only going to find your listing on sites like COhomefinder.com or Realtor.com which your agent should be using for a very low-cost and not sending the cost on to the consumer. All in all the marketing costs for a $2,000,000 home should be the same as a home that is priced at $200,000. Using the internet to its full capacity should be the best way to sell and market a house. Over $2,000,000 can be considered a different animal and then marketing in some national areas might be of use but most likely the Buyers will still find the property online as well. Some things to make sure are included with your listing in Cherry Hills would be,
Minimum of 25 Photos, the MLS in Colorado allows for 25 Photos to be up loaded by the agent. The more photos your listing has the higher it is ranked on sites like www.Relator.com www.Zillow.com and www.Trulia.com (as well as most other sites). Lots of the sites will also allow of additional photos to be uploaded by the agent who has the listing and the more photos the better your web traffic.
Virtual Tour’s, these are a must. Along the same lines as the photos the Virtual Tours bring added Value to your listing online. The more content that your add for the listing has the better it gets. Keep in mind that a Virtual Tour is usually just still photos or a camera that can rotate 360 degrees so that potential buyers can see an entire room and this is different from a Video Tour.
Video Tours are less common and most people are not doing them. Why? Because they are expensive and there are very few people who are doing good quality Video Tours. HGTV does a great job with this and I suggest finding an Agent who does both a Virtual Tour and a Video tour.
This might be where the seller will need to front some of the marketing expense as a large home could cost Thousands for a high quality Virtual Tour, Video Tour and Good Photos. Some of the most common agency’s for this service are listed below but I don’t think it is a good idea to assume the most expensive option is always the best. Also make sure to consider staging the home, although you might have the best taste in the world it is often an image of ones self that looks good and does not attract Buyers.