Remember the three p’s of selling: positioning, process, and price.
As a luxury specialist, I’ve learned a lot about what it takes to successfully sell a difficult or unique property for top dollar in the shortest amount of time. To achieve that for your clients, it’s been my experience that you need to adhere to the three p’s: positioning, process, and price. Today I’ll talk about how each of these is critical to successfully selling these type of homes. For example, there’s more to positioning than simply taking high quality photos for your listings. To learn more, watch my latest video above or read on.
When it comes to selling a property, we like to remember the three p’s: positioning, process, and price. Today I’ll talk about each of these in more detail:
As an agent, you need to position a home effectively when you represent a seller. That doesn’t just mean taking photos but also making sure that the photos highlight the home’s best attributes and downplay the less favorable features. There’s no rule that says you have to take photos of every room in a home. In fact, I’d say that many agents show too much of a home or highlight things that shouldn’t be spotlighted.
When I talk about the process, I’m referring to your systems and marketing—the things you’re doing to market the home both online and offline. That can include digital, print, video, and word-of-mouth marketing. Many franchises and small businesses fail because they don’t have the marketing process needed to bring the most exposure to their listings.
Are you going to list a client’s home at their price or your price? I recently spoke with a seller about a house that was listed five or six years ago for $3.3 million; he wanted to relist it at $4.1 million. Granted, our market is better today, but he hadn’t done any improvements to the property. He simply thought that would be a good price.
The price needs to be based on facts and data—you could have the best product and marketing in the world, but if you’re overpriced, it won’t matter. Today’s consumers have so much data at their fingertips that they’ll know if a home is priced inappropriately.
If you have questions or comments about today’s topic or anything to do with selling luxury real estate, don’t hesitate to reach out to me. I’d love to be your resource.
Founder & CEO | Luxury Listing Specialist Designation (LUXE)