Conventional wisdom states that a hot seller's market—the combination of remarkably high demand and historically low inventory—equals an unparalleled negotiating position for those listing their homes. While it's true in some respects, especially for luxury properties in sought-after neighborhoods, there's still plenty of work to be done if you want to ensure your home commands top dollar. Let's explore the basics of prepping and listing your home for Tucson's competitive luxury market.
Partner with a Savvy Listing Agent
Selling luxury may seem like a simple proposition. After all, Tucson communities such as Pima Canyon
tend to sell themselves with stunning views, in an ideal Foothills location. But they also appeal to a specific type of buyer. If your listing doesn't connect, it can translate into a too-long amount of time on the market.
That's where a seasoned listing agent comes in. Top real estate professionals remove a lot of guesswork from the listing process. They guide you through the listing process—how to present and market your home and make sense of the numbers when the offers start rolling in.
Seek out agents who've had consistent, sustained success in selling homes in your specific community (even better if it's your immediate neighborhood). Agents with a strong network of contacts are also a plus.
The most seasoned agents will have an extensive list of respected professionals—appraisers, inspectors, landscapers, photographers, repair services, stagers, and web developers—to ensure your listing commands the attention it deserves.
Prepare Your Home to Sell
Of course, even with a great listing agent, selling a home is very much a hands-on process for the seller. The most critical steps are the ones you take well before the home ever hits the market—decluttering, depersonalizing, and cleaning.
It may also be worth the time and investment to freshen up spaces that show wear and tear. Even if your residence is relatively new construction, fresh paint and minor repairs or upgrades (new fixtures or updated lighting, for example) will positively impact a buyer's first impression.
For an older home, it may be worth it to contract your own pre-sale inspection. The information it provides is invaluable as you'll identify any problem areas that could affect the value of offers or slow negotiations.
With an old or new home, take stock of your home's curb appeal as well. There's no need to make extensive repairs or improvements, but you'll want a fresh appearance and welcome presentation.
To be sure, preparing your house isn't necessarily a complicated process, although it can prove tedious. The payoff, however, is massive. More than most other housing segments, luxury real estate depends on the first impression. Buyers determine their like or dislike of a home almost immediately upon their initial visit. Whether that visit is in person or online, you need to make it count.
Set the Right Price
Homes priced accurately are homes that sell fast. In a competitive market, they also garner multiple offers. Uncovering the optimal price point for your home requires due diligence.
Comparables, or "comps," will serve as the primary reference point for your home's potential value. Research recent transactions of homes that mirror yours—similar square footage, age, location, amenities (pool, home theater, golf course or mountain views, etc.)—to understand what buyers are paying and where the market is trending.
Zero in on the value of your home even further, and hire an appraiser. Similar to the home inspection, an appraisal crystallizes what your property may be worth and allows you to set a price that draws interest, and more importantly, offers. Your assessment also guards against any surprises when the buyer's lender conducts their own home valuation.
Rely on your listing agent to employ a pricing strategy that promotes the multiple bids common in a seller's market. Their experience from past transactions and understanding of the conditions dictating current values prove invaluable in setting an accurate and attractive list price.
Raise Your Home's Profile
When striving to sell your luxury Tucson residence for its full value, details matter. Yes, cleaning and decluttering and making necessary repairs make a difference, but consider going even further.
Employing the expertise of a professional stager gives your home an edge in how it shows. It also presents the home as a blank slate, ready for a new homeowner to make the house their own.
Marketing offers another opportunity to wow potential buyers. Online listings are standard but don't stop there. Professional photos and video, well-written listing descriptions, and multiple listing channels will entice buyers at every engagement point.
Particularly if your property is at the upper end of luxury, take your marketing even further with a stand-alone website or features on your real estate agent's website. Both options provide you space to tell your home's story and appeal to the right buyer.
Ready to learn more about the Tucson luxury real estate market? Whether you're seeking out a new home in Stone Canyon
or selling a winter residence in Ventana Country Club
, allow Gray St. Onge to be your guide
to the best of Tucson, Arizona.