If you love shows like Selling Sunset and Million Dollar Listing, you may be wondering what it takes to get into the glamorous life of luxury real estate. While it may look like sipping champagne at an ultra-exclusive showing, there is a lot of work that goes into buying and selling high-end real estate.
Buying & Selling High-End Real Estate – The Facts
Getting Luxury Homes Ready to Sell
With high price tags comes high expectations. To appeal to buyers, luxury real estate agents often stage the entire home with furniture, artwork, and other décor that shows off its best features. This means moving the homeowner’s items out of the home entirely in some cases. Professional staging companies can help with the design and setup but cost quite a bit. In luxury real estate, agents and their firms often absorb this cost, knowing that their commission will more than cover what it takes to get the home looking great.
Available for Showings and Marketing
Not every buyer is in the market for a multi-million dollar house. That’s why luxury real estate agents need to be available whenever a potential buyer does express interest. In order to get the sale, luxury agents must market and leverage all their connections to get the home in front of potential buyers.
Inspections & Due Diligence
No one is about to spend millions of dollars without conducting a thorough inspection. Luxury real estate agents are experts when it comes to making sure that all inspections are ordered and plenty of time is allotted. Many have a vast network of trade professionals on hand, to assist with any concern or issue that may arise.
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Compliance and disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage broker and is not a direct lender, depository institution, financial advisor, or tax professional. Content in this article is general market analysis and educational information — not financial, legal, or tax advice for any specific situation. Lendmire does not guarantee loan approval; every transaction is subject to underwriting by the funding lender. Mortgage pricing and loan program guidelines are subject to change at any time without notice and vary by borrower characteristics, property type, and state regulations. Lendmire complies with Equal Housing Opportunity. Licensure verification: NMLS Consumer Access.
