When it comes to putting a luxury-living home on the market, there are some key issues that sellers need to keep in mind. Thanks to the help of Grace Frank and partners Kim Bass and Debbie Radford, now known as The Luxury Living Group, Chattanoogans ready to list such a property have the advantage.
"The most important element is attention to detail," said Frank. "Successful people are focused on the art of living, which includes beautiful landscaping, clean and organized rooms and closets, beautiful art and a lack of clutter."
Bass added that, quite often, less is more in regards to such properties for sale. "Declutter, depersonalize and ensure the kitchen and bathrooms are outstanding," she explained. "Maintenance and repair projects should be completed before listing a home. And clean, clean, clean." The group also noted that weeding and laying down fresh mulch in the landscaping of the home is key, as the buyer's first impression of the home's curb appeal is crucial.
"'Luxury Living' buyers are individuals and families, whether local or relocating to the area. This may ... be their second home or future retirement home. They are successful people that know what they want and will not settle for less," Radford said in regards to potential buyers. Such buyers can be reached through high-end print media and Internet sites that cater to luxury living, she added.
By focusing on a customized marketing plan to reach the sellers' identified target market, the group ensures more key steps for a successful sale, said Frank. The trio
stressed that attention to every detail of a luxury home and allowing it to become a masterpiece to a broad group of buyers is the goal they strive to meet.
"Most luxury homes are custom built and therefore they have unique features and
floor plans," the group said. "When owners decide to sell, the key is to create a broad appeal to many buyers versus keeping them designed for a very niche buyer. This can be accomplished through simple redesigning of features and finishes."
According to the National Association of Realtors, in July 2013, sales of luxury homes costing more than $1 million were up 46 percent from the previous year, proving that buyers are out there and looking for action.
As far as listing at the right time, Frank said that for downtown urban properties there is no right or wrong season, only presentation that sets the properties apart.
"Location is key," she noted. "Individuals are always looking. Remote areas seem to have more attention from buyers in the late spring to fall, while waterfront sells better when the water activity is high." Frank added that when it comes to families, they often search for a home in the spring, yet prefer to move during summer break, both times that are the least disruptive to school.
Regardless of the concern or question sellers of luxury properties may have, Frank and her group are ready to help and offer a variety of assistance. They review the home with their clients and create a list of preparation actions. If professional services are needed, the trio has qualified service providers they work with who offer discounts and special promotions to their sellers.
To further aid potential sellers of luxury homes, the group is hosting an event called Spring Greening March 29 at 10 a.m. at the Barn Nursery downtown. The workshop portion of the event features a master gardener who will discuss effective ways to enhance a home's landscaping.
For more information about Spring Greening or to set up a consultation about listing a luxury home, contact The Luxury Living Group at 423-200-3006.