How to sell a luxury home

What defines a luxury property?

Before selling your luxury home, it’s important to analyze the property and determine what makes it such an exclusive luxury property. Focus on key aspects such as location, views, square footage, and quality finishes, as these factors will help you sell it more easily.

Location

Having a property in places like Barcelona, Valencia, or the Balearic Islands automatically makes it a luxury property due to the high price per square meter or the strong demand from foreign investors.

For example, in Barcelona, the average price of properties sold by Engel & Völkers in 2023 was €4,791/m². In fact, 14% of closed transactions surpassed one million euros.

Views

A home with beachfront views, mountain views, or located in the city center can significantly increase in value. Exclusive views are one of the most prized features in luxury properties.

Square footage

In cities where land for construction is scarce and the price per square meter is high, owning a large home will increase its value, making it a luxury property.

High-quality materials

Luxury homes are known for using superior materials such as natural stone, marble, exotic wood, or precious metals. These materials may be found in staircases, countertops, faucets, and details throughout the home. Without a doubt, they add value and make the luxury property stand out from the rest.

Setting the right price

These factors are key when setting a value and selling a luxury home to potential buyers. The best way to know the value of a property, as well as its most important features, is to have it appraised.

At Engel & Völkers, we offer a free valuation of your luxury home. Our real estate agents can advise and guide you with strategies to increase the value of the property.

Key tips for selling a luxury home

Once the property price is set, it's time to move on to the sale. Here are some tips for selling your luxury home easily:

Staging

Every luxury home tells a story, and it's essential to prepare the home to convey that story. According to Forbes, this is the secret to selling such properties.

If you don't have the expertise, it’s beneficial to hire a professional for this task. A real estate agent from Engel & Völkers, for example, is the perfect person to advise you on home staging. They’ll help tell your home's story through its decor and will arrange professional videos and photos to highlight its best qualities, making it easier to sell.

Know your luxury home

Once your home is ready for sale, evaluate its key strengths that make it unique from other properties. Knowing these details will help you attract the perfect buyer.

For instance, one of your property’s highlights might be exclusive views or its prime location. In that case, emphasize these features when engaging with potential buyers interested in purchasing a home in that area.

Understand the buyer

Not every luxury home is suitable for every buyer. Each potential buyer is unique and has different preferences or needs. By understanding the strengths of your luxury property, you can identify which potential buyer would be the best match.

Perhaps the property’s location makes it ideal for foreign investors, or maybe it’s a perfect fit for a client just starting their real estate investment journey.

Study the market

Another key factor in selling your luxury home is understanding the market. It's not enough to just identify the potential buyer or the property's strengths. It's important to be aware of the most in-demand trends and the current market conditions.

At Engel & Völkers, we produce an Annual Report that provides the most relevant data about the luxury real estate market in Spain. Additionally, working with one of our real estate agents will help you better understand current market trends.

Evaluate the perfect marketing strategy

After conducting thorough research on your home, the potential buyer, and the market, it’s time to craft the perfect marketing strategy. Decide which marketing actions you’d like to take based on your needs and preferences.

At Engel & Völkers, we have professionals specialized in marketing strategies that will discreetly introduce your property to the right audience.

Presenting the property to the luxury real estate market

Whether through real estate portals or a network of contacts, it’s important to showcase the luxury home to potential buyers in order to facilitate the sale.

At Engel & Völkers, we have an extensive network of contacts worldwide, making it much easier to find the perfect buyer for your luxury home.

How to speed up the sale of luxury homes

To ensure the transaction happens quickly, it's crucial to be well-prepared. This means having all necessary documentation ready to streamline the process.

Choosing a real estate agency specializing in luxury homes

Another way to expedite the sale is by working with a reputable real estate agency specializing in luxury properties and buyers. This will lighten the burden for both parties involved in the transaction, as the agency will handle all the management for you.

Engel & Völkers can help you sell your luxury property

At Engel & Völkers, we are experts in selling luxury properties and offer the best experience in the real estate market. We stand out because of our:

Exclusivity

 Each luxury property and client is unique. We provide a personalized, exclusive experience for everyone.

Passion

Real estate is our passion. We are fully committed to each sales process, providing full support to our clients.

Premium brand

With many years in the luxury real estate sector, we hold a leading position that sets us apart from the competition.

Network of contacts

Engel & Völkers operates in more than 36 countries worldwide, giving you access to an extensive network of contacts.

Professionalism

Our real estate agents are specialized professionals who provide expert advice, ensuring a fully transparent and hassle-free process.

As you can see, selling a luxury home is a simple task when you have the right resources and understand the process. However, it's undeniable that the assistance and services of a real estate agency make the job easier.

If you want to benefit from all the advantages Engel & Völkers offers its exclusive clients, simply contact us, and we will be happy to help you sell your luxury home.