Luxury markets are complicated things. Buyers tend to be picky about their purchases. Sellers need to understand how to appeal to them if they want to close the deal. That is especially true in the luxury real estate market. The sheer value of even a single luxury property means that sellers need to take the time to get things right. There are a lot of factors to consider, but a few of them stand out because they are so important for making a good deal.
Pick the Right Price
There is an art to pricing a property. If the price is too high, buyers will refuse to pay it. If the price is too low, then the seller will lose money. Sellers need to consider the size of the property, the amenities that it offers, and the details of the area to find a good price. It can be helpful to compare the property to similar ones on the market, but that isn’t conclusive. After all, every property is unique.
The easiest way to price a property is to call in an expert. Some real estate agents focus on the luxury market. Those are generally the best choice because they understand both the state of the market and the things that luxury buyers value. Their expertise is the most reliable tool for finding the right price.
Rely on Great Pictures
Great pictures and clear videos are some of the best marketing tools for sellers. It is vital to remember that quality matters when it comes to photography. A bad picture can make a beautiful home look drab and unappealing, which is often enough to prevent a sale. A great photograph will make a good first impression and draw the attention of potential buyers.
Avoid Open Houses
Hosting an open house is usually a mistake in the luxury market. Most buyers are looking for exclusive properties, and public open houses detract from that. They can also waste a lot of time. There simply aren’t very many buyers in the luxury market. Public open houses aren’t necessary because relatively few people need to view the property. It is generally better to focus on inviting brokers to see the property and setting up individual appointments for potential buyers as necessary.
In the end, sellers simply need to keep their goals in mind. They need to understand their target market and focus on ensuring that their properties appeal to potential buyers. That can be tricky, but it is possible for people who make an effort to do things right.
People love their pets. One study by the National Association of Realtors found that 99% of pet owners view their pets as part of the family. Most of them take their pets into consideration when choosing a place to live and more than half renovated their homes for their pets. Animals simply have a huge impact on the choices that consumers make in the real estate market.
Demand for Pet-Friendly Housing is High
Pets are extremely popular in the modern world, so much so that more households have pets than children. That means that many people who are looking for homes are trying to find places that can accommodate their animals. Houses and apartments that offer pet-friendly amenities, such as big yards or fences, are particularly appealing. Homes that are close to veterinary clinics, parks, or other pet-friendly attractions can use those amenities as a selling point.
Investors also love pet-friendly housing. Apartments that accept pets tend to be more profitable than those that ban animals. Sellers can also raise the value of a property by renovating it to be more appealing to pet owners. Those amenities can also make it much easier to find someone to buy or rent a property. Many landlords are reluctant to accept pets, so those who do accommodate animals face relatively little competition in many markets.
Pet owners and investors alike can benefit from renovation projects. Fencing projects are among the most popular, but far from the only option. Pets tend to be messy, so they benefit from replacing carpets with laminate flooring to simplify maintenance. Smaller changes, such as installing bathroom fixtures that are appropriate for cleaning animals, can also make a big difference.
The Bottom Line for Investors
Modern homes need to meet the needs of both their human inhabitants and a variety of pets. They should be safe and comfortable for as many different species as possible. Investors and builders who make a point of accommodating pet owners are likely to do better than those who ignore the needs of cats, dogs, and other species. Just a little bit of extra effort can lead to higher profits for investors and a lifetime of joy for pet owners.
About Jason Cohen Pittsburgh
Jason Cohen is a real estate investor in Pittsburgh, Pennsylvania. He created Jason Cohen Pittsburgh, a group of real estate enthusiasts committed to helping others invest in real estate, and he has thrived in the area since 2002.
As Jason’s career has grown and flourished, so has Pittsburgh itself — transforming from an industrial “rust belt” city into a major cultural center abundant with high-end multi-family rental properties. Jason has seamlessly handled the dynamic nature of Pittsburgh and of the real estate industry in general. A research-driven professional, he consistently enables smart and profitable investments in the area, helping to transform modest properties into high-end rentals in Pittsburgh’s hottest neighborhoods.
Jason Cohen first entered the world of real estate shortly after his graduation from college. He started out by investing in distressed properties in Pennsylvania. After some experience working full-time for a real estate company, he decided to pave his own path in the industry. He has worked as an independent real estate agent and developed the Jason Cohen Pittsburgh team ever since. The team consists of highly qualified investors, property managers, leasing agents, and contractors.
Over the course of his career Jason has become highly proficient in acquisitions, joint ventures and partnerships, multifamily real estate investments, asset repositioning, real estate management, real estate brokerage, and new construction. He has excelled in high-level investment strategies, but is also no stranger to “ground work” when it comes to the industry. He is well-versed in each step of Jason Cohen Pittsburgh’s unique system: researching local areas and investing in properties, performing renovations to transform these properties from dilapidated eyesores into high-end units, and ultimately repositioning the properties for maximum profit in renting and selling.
Jason Cohen Pittsburgh is the group of choice for anyone who needs advice, analysis and due diligence, and general expertise in matters of investing, whether they are short-term or long-term. Jason Cohen Pittsburgh has dealt with properties in a variety of neighborhoods throughout parts of Pittsburgh, including the South Side, Oakland, Shadyside, Squirrel Hill, Mt. Lebanon, and Regent Square. Each and every one of these locations, paired with Jason’s overall knowledge of real estate investing, has allowed him to play a part in restoring Pittsburgh’s place as one of the most popular cities in the United States.
This blog will share news, updates, and insights regarding Pittsburgh and its real estate market from the perspective of Jason Cohen Pittsburgh. Stay tuned!