Luxury real estate from individual to individual: How to succeed in your sale or purchase?
Luxury real estate attracts buyers and sellers eager to complete exceptional transactions. Selling or buying a prestigious property privately saves time, reduces agency fees, and allows for complete control over the transaction. However, this type of approach presents specific challenges that must be understood to ensure success.
This comprehensive guide will accompany you step by step, whether you are a seller or a buyer, to maximize your chances of success and secure your high-end transaction.
The advantages of luxury real estate from individual to individual 🏠
1. Avoid agency fees 💸
Agency commissions for luxury properties typically range from 5% to 7%. For a villa worth €2 million, this represents up to €140,000 in fees. By dealing directly with a private seller, you retain the entire sale price, which is a significant financial advantage.
2. More flexibility 🔑
Without intermediaries, you can manage viewings, negotiations, and sales conditions yourself. You can schedule viewings according to buyers' availability and prioritize negotiation points.
3. Confidentiality 🔒
Discretion is paramount in luxury real estate. Dealing directly with clients ensures that only qualified individuals have access to sensitive information, which is particularly important for public figures or exceptional properties.
Luxury real estate challenges from individual to individual ⚠️
1. Estimate of the sale price 🏷️
Valuing a luxury property is complex: location, architecture, amenities, materials, history, and authenticity must all be taken into account. For example, a 250 m² penthouse with a terrace in Paris can vary between 2 and 4 million euros depending on the precise location and the view.
2. Prepare the property for the sale 🏡
The property must be immaculate to appeal to discerning buyers. Minor renovations, fresh paint, tasteful landscaping, and exterior maintenance significantly increase its perceived value.
3. Manage visits and negotiations 🗣️
Luxury buyers are often very particular. Be prepared to answer questions about the home's history, the materials used, renovations, and amenities such as a swimming pool, spa, or home automation system. Thorough preparation is essential to avoid losing a sale.
How to sell a luxury property between individuals? 🔑
1. Estimate the value of your property 📊
An accurate valuation allows you to sell quickly and at the best price. Consider the local market, recent sales, and unique features. For example, a villa in Provence with four bedrooms, a swimming pool, and panoramic views can sell for between €1.2 million and €2.5 million, depending on the location and finishes.
2. Highlight the property 💎
- Professional photographs to showcase angles and light.
- Elegant and refined staging.
- Exterior repairs and maintenance to enhance appeal.
3. Write an attractive ad ✍️
A complete and accurate listing attracts buyers and justifies the asking price. Include details such as location, high-end amenities, size, and history. Example: “Exceptional 450 sq m property with heated pool and 2 hectares of landscaped grounds, located near Cannes.”
4. Organize Visits and Negotiations 🏡
Adapt to the buyers' availability and prepare your counter-offers in advance. Transparency and flexibility are essential to closing the sale.
How to buy a luxury house from individual to individual? 🏠
1. Define Your Criteria 🎯
List your essential criteria: location, size, bedrooms, amenities, and budget. Example: “300 m² villa with pool and gym, close to the beach, budget up to €3 million.”
2. Call in an Expert 🧑🏫
A real estate expert validates the true value of the property in relation to the market and its unique characteristics.
3. Check the condition of the property 🏚️
Inspect the structure, electrical installations, plumbing, insulation and comfort equipment to avoid unpleasant surprises.
4. Legal formalities 📜
Draft a preliminary sales agreement, carry out the mandatory property surveys, and finalize the sale before a notary. Understanding the tax implications and legal obligations is essential to securing the purchase.
Conclusion 🎯
Selling luxury real estate privately can be very advantageous but requires preparation and meticulous attention to detail. Accurate valuation, highlighting the property's value, managing viewings, and handling legal formalities are essential for success.
By following these practical tips and carefully preparing each step, you maximize your chances of closing an optimal, confidential, and personalized transaction, while saving on agency fees. Investing time and thought guarantees a result that meets your expectations and reflects the prestige of your property.
Read also: Publish Your Luxury Property Listing – Criteria and Procedure for Owners
