How to Sell a Million Dollar Home

Here’re a few pointers to help you sell your million dollar home or cottage:

-price it right using lots of comparables

-stage it

-improve its curb appeal and garden

-take great photos

-make an awesome video using drone footage

-put it on YouTube

-put it on facebook and other social media

-hire a great agent (I’m available)

-put it on MLS and other websites where it will be found by search engines

-get the right realtors to view the property

-on-site signage is not absolutely necessary but may help

-open houses rarely result in a sale but may
help especially spreading the word

-send out a newsletter to all your contacts
featuring the place, more spreading the word and letting word-of-mouth help

-create great sales brochure/collateral

-make sure you tell a story about the place: after all, selling is telling

-blog about it

If you are still having trouble moving the product, why not adopt a North Korean strategy, ie, talk and fight at the same time.

Why not, for example, put it on airbnb for
short term rental, generate some cash and buzz while you wait for a buyer?

You might also do what I just suggested to one client who is having some difficulty moving their fabulous cottage place, 60 minutes outside the city in a buyer’s market–offer some promotions that are (probably) mostly PR: 

-seller will offer buyer a seller take-back mortgage of up to $500,000 (a stb is a type of mortgage in which the seller offers to lend funds to the buyer to help facilitate the purchase of the property)*

-seller will guarantee to sell the buyer’s house before they take possession of seller’s place or they’ll buy it up to a $500,000 limit*

* subject to certain conditions; eg, a sale price of $950k or more, and an existing home that is “sellable”

I find that even rich dudes these days want properties that make financial sense so I will usually prepare a spreadsheet that shows them how to make money with their homes in the event that they ever decide they need to… 

I want them to be able to get a 6% cap rate or more even on their own high end places.

@ profbruce