4 Tips for Selling Luxury Real Estate Property in the Okanagan

Marketing local attractions such as nearby wineries is an important sales tool for Kelowna realtors in the luxury real estate market.
Photo by Brian Sprout, TourismKelowna.com

 

Listing luxury real estate on MLS is an important decision. Whether you’re semi-serious about selling and just want to test the market, or you’ve found a new job in Winnipeg and need to move right away, there are many variables that need to be considered.

Understanding the current market conditions will give you a realistic starting point for listing a luxury home in the Okanagan. Beyond that, your Kelowna realtor will have a number of tips to help you attract buyers and receive a fair offer.

selling luxury1. Pricing Your Home Correctly

Finding the right price point is critical when selling any home, whether it’s a mobile home or a $1 million property. Overvaluing luxury real estate can turn into a lengthy process because the longer a home sits on the market, the less interest it’ll receive.

To get a realistic idea of what your home could sell for, Kelowna realtors like Quincy Vrecko & Associates conduct free market evaluations. These assessments take into consideration your home’s:

  • Location
  • Size
  • Age
  • Amenities

The evaluation will also compare your home to similar properties that are currently on the market or have recently sold.

By starting with a competitive asking price, you’re more likely to attract buyers quickly, without undervaluing your property.

For more information on market evaluations, read: What Is a Market Evaluation?

selling luxury2. Following a Modern Marketing Strategy

By choosing an accurate listing price, you’ve already done a fair bit of niche marketing because you’re advertising to potential buyers in that particular price bracket. However, Okanagan realtors these days are embracing the Internet era, and are using it as a tool to promote listings even more.

With more homebuyers going online to research and buy homes, it’s changed the industry completely. That’s why it’s important to work with a realtor that combines the traditional approach to customer service with new-age technology. In other words, you want a realtor who can do it all:

  • Post your listing on their website
  • Provide high-quality photos and video of your listing
  • Market properties on Facebook and other social media platforms
  • Use mobile-friendly technology (many homebuyers search with smartphones and tablets)
  • Stage homes tastefully
  • Is readily available for showings

selling luxury3. Finding the Right Time to Sell?

Timing plays an important role when selling high-end homes in the Okanagan. For instance, if you’re marketing a premium waterfront home, you’re more likely to receive interest in the summer than in the middle of winter.

 

 

selling luxury

4. Selling the Lifestyle

When people buy a luxury home in the Okanagan, they’re also buying a particular lifestyle. They’re not only looking at the designer kitchens, floor-to-ceiling windows, and super-relaxing soaker tubs, but they’re also looking at the surrounding lakes, vineyards, orchards and endless outdoor activities that come with living in the valley.

Showcasing these geographical amenities is another tool your Kelowna realtor will certainly use to promote your listing.

 

Is it time to sell your luxury real estate? Quincy Vrecko & Associates can help you market your property effectively to attract buyers quickly. We also provide free market evaluations to give you a realistic idea of what your home is worth.