What Goes Into a Multi-Million Dollar Home Sale?

What goes on behind the scenes of a multi-million dollar home sale? According to a report in The Huffington Post, more homes than ever are being sold today at astronomical prices. Luxury home sales come with a specific list of challenges. While agents must solidify standard information, such as price and move-in dates, there are usually many more requirements and unique inspections that must be done. Here’s an inside look at what it’s like to sell luxury real estate in and around Santa Barbara.
1) Real Estate Agents Accommodate Clients’ Busy Lifestyles, No Matter What
For today’s affluent buyers, luxury real estate is all about lifestyle. Baby boomers especially seek culture and convenience for their empty-nester stage of life. People want to be close to stores, restaurants and activities. It’s even more important that cultural events surround them. Symphonies, art galleries and concert venues all add to the allure of living the luxury life.
2) Buyers have requirements too
It’s also no surprise that buyers have requirements of their own, and have many more constraints on their time. The more a home costs, the more likely the buyer works extended hours, travels frequently and has multiple responsibilities that can make sitting down for a close difficult – which can mean that sales are much more similar to business-to-business interactions than business-to-consumer. Clients asking for non-disclosure agreements, and needing to measure garages to ensure their luxury vehicles are safe from both damage and theft are not out of the ordinary.
3) Smart Home Features a must
If you are listing your luxury home, don’t forget to include smart home features. They have become increasingly commonplace and important to buyers.
4) Size does matter
When you picture a multi-million-dollar home, you likely imagine a very large and expansive piece of real estate. Although luxury comes in many sizes, for some multi-million-dollar homes, their sheer size can make them a challenge. There are definitely a few homes I’ve sold where showings seemed more like a workout than a real estate sale. That means luxury real estate agents like me must stay hydrated.
5) Highlight exotic finishes
It’s very common for high-rolling buyers to have very specific details in mind for their perfect property, which means luxury real estate agents must be well educated on finishes and materials, and make sure they stay up-to-date with every current trend.
These are just some of the things agents must keep in mind when selling a multi-million dollar home. I’ve been a luxury real estate agent for more than 25 years now, focusing on prestigious areas of Santa Barbara such as Montecito. If you are looking to buy or sell in any of the surrounding upscale neighborhoods, please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com. Let me put my secrets to work for you!