Selling a house in a private community involves some unique challenges and special considerations. Given the fact that these are very often upper-end homes, it’s understandable that sellers want to get things right and have all the pieces in place. If you’re selling a house in a private community, the major parts of your task will be understanding your target market and promoting perceived value. To give you a leg up in this, here are 5 tips for selling your house in a private community.
1. Understand Your Buyer
For selling your house in a private community, you absolutely must understand your buyer. And a great way to get a handle on this niche market is to work up a buyer profile. You must know to whom you will be marketing.
Keep in mind that a shotgun approach won’t be very effective here – you are not trying to appeal to a broad audience. Begin, then, by compiling a list of the benefits that flow from your home’s features. Then, start building that buyer profile based on who would most desire those benefits. Be sure to include as much information about targeted potential buyers as you can, for example, age, income level, education level, geographic location, religious/political affiliations, hobbies, and so on.
Your real estate agent can provide valuable assistance in helping you define your home’s distinguishing characteristics and pinpoint the very people who would likely buy it. To find out more about this, just call 866-593-7012.
2. Price Right
It has often been said that pricing right is your number-one marketing tool – and it probably is. So for successfully selling your house in a private community, you have to get the price right at the outset. But this is no small or easy task.
“Pricing any home correctly is challenging. Knowing how to look at a home, measure its strengths and weaknesses, compare it to similar homes, examine the surrounding market and price it to both sell in a timely manner and for a good price – these are skills that [agents] take years to master. [Private-community] homes add another layer of difficulty when it comes to pricing. There are less comparable homes to reference, and each . . . home tends to have unique features that only some buyers will value, . . . unique features that tend to make it harder to price.”
If you price too high, your house will likely languish unsold on the market for months and moths. Buyers will then assume something is wrong with it, and your sales efforts may never recover from this stigma. And pricing too low could have the same outcome with buyers automatically assuming something is wrong with the house because it is priced so low. So make sure you call on your agent’s expertise to ensure you get the price right.
3. Time It Right
Another important ingredient in selling your house in a private community is getting the timing right. Very often, private communities are located by design in areas where there are outstanding local attractions, including everything from museums to mountains and restaurants to lakes. And that means you shouldn’t try to sell when it’s cold and windy and sleeting out.
Your best bet is to list your house in the spring. “In the spring,” real estate pros explain, “buyers can get a complete understanding of the grounds which is often a big selling feature . . . There are going to be things that you can’t appreciate in the winter such as a luxury swimming pool, tennis court, magnificent landscape and possibly many other features that can get obscured by snow.”
4. Use Top-Notch Photos and Video
Now here’s an area where you absolutely cannot take any shortcuts. When it comes to listing photos and videos for selling your house in a private community, you need the best you can get.
The vast majority of home shoppers do most of their searching online today. They will make their purchasing decision based, in large part, on the photographic and digital appeal in the online listings. And this only becomes more important for a house in a private community. But in today’s competitive market, you’ll need more than professional-quality listing photos.
You will also need video. “Video is becoming as important as photos when selling real estate today . . . Buyers may be coming from across the country to view your home. Even if they are coming from next door, a video tour can give them a good idea of what living in the home would be like, and convey what makes your home special. . . . You should not even consider hiring a real estate agent who does not provide a high-end video tour.”
5. Market Effectively
You will never sell your house in a private community if the right buyers don’t know it’s for sale. That’s why aggressive, creative, targeted marketing is so important. And today that kind of marketing means primarily online marketing – which in turn means you need a real estate agent who is a savvy online marketer. Traditional marketing still works and shouldn’t be neglected, but online marketing is really where it’s at today. But don’t worry – we’ve got you covered.