Any Realtor can list a luxury home but how should a Realtor “market” luxury homes in Barrington? Is there a set plan or is it up to the Realtor? How do sellers make sure they select a Realtor that will do what they think is the best marketing plan for their home?
Lots of questions I hope to answer and some I likely have not mentioned. Here goes.
Marketing Luxury Barrington Homes – The Basics
As I mentioned, any Realtor can list luxury homes, whether in Barrington Illinois or any of the other Chicago high priced suburban areas. Home sellers may look for a broker they know or used before, a big brand name, be referred to a broker, they might use any of the big online search sights to find help, catch a name off a sign they see, and a whole slew of other places to find someone to list their home.
After all, it’s all about getting the home in the MLS right? MAYBE!
Don’t get me wrong, the MLS can play a big part in selling luxury homes and it’s not something you would necessarily reject because it exposes your home to the MRED membership. MRED is our Realtor MLS and with approximately 8,000 offices and 40,000 members we are the largest in the country. With this many members it stands to reason collectively we have a lot of buyers.
A word of caution though. A listing on our MLS provides us with a description length of 420 characters, that’s about 50-60 words on average. Imagine a large luxury home and try to describe it in 60 words. The reality is you’ll get the basics. Description, photos, price. It’s a starting point and any Realtor can provide it.
Classify Luxury Homes in Barrington.
With a median price of around $600,000 a luxury home in the Barrington area is likely to be considerably higher in price. Luxury homes though are not measured by value or marketing price, more so by features that you would not find in those median homes, or at least not all of them. For the sake of today’s post, let’s tag a price of $1.5 million and up.
What do homes of this price have that lower priced homes don’t?
Features. Features. Features — Features have benefits and buyers love benefits.
In addition to the accommodation a house provides, luxury home buyers are looking for more. It goes without saying that chefs kitchens, dream bathrooms, the best location all matter and they matter a lot. Luxury home buyers are also looking for the extras that matter to them.
Here are some luxury home features and the benefits for luxury home buyers.
- Indoor swimming pool. Benefit: year round swimming.
- Indoor theater. Benefit: Sunday afternoon football on a big screen.
- Wine Cellar. Benefit: Connoisseur has a place for a collection.
- Stables. Benefit: Horse lovers, trainers, breeders can move right in.
- Unincorporated location. Benefit: Posibility for home based business.
- Sport Court. Benefit: Keeps kids and friends active year round.
- Multiple car climate controlled garages. Benefit: Place to keep classic car collections or projects.
- Gated community. Benefit: Privacy and Security.
To find luxury homes that have these and other features you’ll likely focus on South Barrington, Barrington Hills, Inverness and Wynstone in North Barrington.
Marketing Luxury Homes in Barrington Beyond The MLS
Your Realtor must go beyond the MLS. As real estate professionals that market luxury houses, we zoom into the features of the homes we market for our clients. To do this outside the MLS requires a strategy, a clearly laid out plan for the property. The plan may vary from property to property. It’s really not that difficult but it requires a tech savvy Realtor, one that utilizes the internet and has access to the tools and knows how to use them. Just saying you’ll add a property to your web site is of zero use if that web site has no visitors, let alone buyers looking for the features we’ve been talking about.
Think about something you are passionate about. If someone asks you about that topic you have no problem talking about it, right? The same is true of luxury homes, your home. Most owners are passionate about their homes and it’s not hard to get them to open up and start talking about the features the house has. As Realtor’s our job is to listen to what our luxury home sellers have to tell us. We need to understand all the features a luxury home has and how each will benefit a buyer. Then we can market and promote your home with features buyers will be looking for. It’s a matchmaking skill, one that we have been fine tuning for a number of years now.
Yes Corinne I Understand but How Do You Do This?
Our job is now to create a masterpiece of information for the property. In my eyes this is not a brochure because a brochure doesn’t get into the hands of buyers until they visit. I want buyers who are researching to find my luxury home listings for the features they desire at the place most start their research. Online. Marketing luxury homes needs a story for each property with an extensive description of features, benefits, and supporting photos. It takes time to put this all together. It may take time to sell your luxury home, the market tells us what you should expect.
It’s also important to note that marketing any home is not a set it and forget it plan. Marketing must be reviewed periodically to establish if the focus is correct to attract the right buyers. If not, time to adjust.
The answer to the initial question about whether it’s up to the Realtor to decide how to market luxury homes is yes. So choose wisely and find out what your Realtor is going to do. The Basics or Some Home Buyer Matchmaking.