Selling a Luxury Home - Part 2 - A State of Mind
In Selling a Luxury Home - Part 1 - Defined I went over some of the things that defined a Luxury Home. One of the biggest issues with Luxury Homes is State of Mind. People that are shopping for a Luxury Home are looking for Status, Maybe Uniqueness, and well Luxury. A big part of Selling a Luxury Home, or Elevating a Home to Luxury Status is Presentation or Having a Luxury State of Mind.
I want to use some examples from our celebrity culture. Even if we do not like to admit it we put a premium on appearance in our culture; especially in the Entertainment Culture:
Oprah is one person that comes to my mind, she has struggled with her weight publicly in a culture that demands thin, especially from women. But she always carries herself well and presents herself well both physically and as an entertainer and interviewer. She is also a savvy business women. I believe her success started with her State of Mind. I am sure you can think of men and women in pop culture or that we just know who on the surface do not have those qualities that we think of as positive, but are very successful and considered popular. This is a result of the State of Mind they have about themselves and how they carry themselves.
One other example from Pop Culture that is important to look at is Ashton Krusher. This guy was mildly amusing in "That 70's Show", made some movies that were all so so at best, and has a cable show taking off from Candid Camera. Now forgive me if you are a fan and I have over looked something; I just do not follow pop culture that close. However, this guy is a mega star - A List celebrity; everyone knows who he is and he is always in front of the pop culture. Ashton Krusher is very smart and very good at putting himself in the right places to be seen and create buzz, he knows how to create buzz and keep himself in front of the public. This all creates value for him.
So how does this relate to Selling a Luxury Home? Presentation and Buzz Create Value; even when the property has flaws or there are other Luxury Homes around Presentation and Buzz can make a home the most appealing home on the market. This is true of all homes to one extent or another but is especially true of Luxury Home Sales as the buyers are looking for Status, Uniqueness, and Luxury. You need to show people what you have and why it is worth paying a premium price for it.
Next time we will start with Steps to Preparing Your Luxury Home for Sale.
So many things in life are the result of one's State of Mind. I've met many a teacher making just $24,000 a year who are so happy that they are teaching and influencing the lives of the younger generation. I do think our teachers are grossly underpaid.