Luxury real estate in Vancouver is hot, hot, hot. And it doesn’t show any signs of slowing down.
Recently, I saw a listing for a luxury home in Vancouver posted on RESAAS that listed for almost $12 million. The 3-storey, 5,719 square-foot home is an architectural masterpiece and definitely fits all the aspects of a luxury home. I was so impressed with it that I reached out to the agent behind this incredible home.
Meet Sue Scott - Luxury Real Estate Expert in Vancouver
I talked to the real estate agent behind this beautiful property, Sue Scott. Scott is an agent with Royal LePage Sussex and is an active RESAAS Premium user. She provided me with her tips and tricks on how to stage and market a luxury home, as well as other pointers to make sure that you have a successful marketing strategy.
Scott has been a REALTOR® for 11 years, working on the Sunshine Coast for the first 3 years while she raised her daughter. After moving back to West Vancouver, where she is licensed, she continued to serve the Sunshine Coast along with other parts of Vancouver, including the East and West sides of Vancouver, the North Shore, UBC, and occasionally parts of Vancouver Island.
Vancouver Luxury Homes: A Definition
The definition of luxury homes varies greatly depending on location. This is what Scott had to say about luxury homes:
“Luxury homes are high end, architecturally designed, quality built, and typically showcase different features that differentiate them from the norm.”
How to Stage and Market Luxury Homes
When it comes to selling luxury homes, Scott shared a phrase that she keeps in mind constantly: curb appeal.
Along with being a real estate agent, Scott is also a landscape designer. She knows first hand the value of curb appeal and how it can attract more buyers for a house and increase the value.
To maximize potential buyers, be sure that the house is looking sharp, both on the outside and on the inside.
During the staging process, one key piece of advice that Scott offered is that the house has to be clean.
“Really take the time to declutter and depersonalize the house,” Scott said. “I’ve had clients who, after viewing the photos of their decluttered home, fall in love with their home all over again.”
Once the house is ready to be staged, it is time to put your marketing hat on. Take the time to think about what the ‘wow features’ are in the house, and really make sure that the photos and video accentuate those features. Showcasing the wow features will show clients how this house stands out from comparable listings.
This is where photos and videos come in. But quick iPhone snaps aren’t going to cut it: Scott suggested working with professional photographers, videographers, and even drone operators to ensure that you are getting amazing photos of your luxury property. If you don’t have high quality photos and video, Scott says that you are “really doing your clients a disservice.”
“Especially in the current digital age, so many people are viewing listings online and on their phones,” Scott said. “It’s one thing to see the house online, but your goal is to get potential buyers in the door.”
Create a buzz around your luxury home
So you have the photos and the video. Now what?
Share it while it's hot! If you wait too long, it could impact the sale.
“You have to create a buzz right off the bat,” Scott shared. “There is typically a 3-week window of interest. That is the time that you need to get as many people to the door. In that time frame, it is more likely that you will get an offer.”
This is also why Scott opts to have a few listings at a time as opposed to many.
“Because of how much time I put into marketing and staging these properties, I prefer to have a few listings and work on them until they are sold. Rather than "post and pray", I prefer to work the listings and maximize their exposure to appropriate, targeted buyers. Once those have sold, then I move onto the next."
The Importance of Social Media
To create that special buzz, Scott turns to social media. And she rocks it.
With over 1,200 followers on Twitter, Scott said that social media is crucial for a successful marketing strategy: “If you’re not on social media regularly, then you are missing out!”
Scott shared her own success with social media and the importance to be relevant online. While a lot of her business has come through word of mouth and connecting with others at events, she mentioned that she recently received some referrals from social media alone.
The other pivotal reason for engaging actively on social media was to connect with millennials.
“Having worked with a few millennials and first time homebuyers, I can tell you first hand that in order to connect with them, you need to be on social media,” Scott said. “They are the ones texting, liking, and sharing. If you want to be relevant among them, then you need to be doing what they’re doing.”
Above all else, Scott stressed again that it is important to show off the wow features of the houses that you are working with. Each luxury home is different and unique, and the wow features will set them apart from other comparable properties.
So, to successfully sell a luxury home in Vancouver:
Stage your home by decluttering, depersonalizing, and increasing curb appeal
Market your home with amazing photos and videos
Create a buzz early and efficiently
Stay relevant on social media, posting often and connecting with clients
Rachel Wong is the Digital Content Co-op student at RESAAS. She loves coffee and beer, writing and talking, and has been the same height for pretty much ever. Check out her RESAAS profile ›