3 Ways to Sell Luxury Real Estate, as per The Real Deal’s Top Broker Ido Berniker

Luxury real estate – the moment these words strike our minds, our imagination takes the freedom to run wild. Jacuzzi in every bathroom, breathtaking views, rarest of the rare furniture, gold leaf embossed Italian marble flooring, and most importantly, the space. “You can set your eyes on every possible luxury real estate house but the main challenge is to be able to sell it and let me tell you, it’s not that easy,” says Ido Berniker, the New York-based real estate broker and founder of Mercer Partners.

Berniker further explains, “Without a doubt, there are numerous investors today, but on the path to locking a deal, a lot can go wrong. I was once asked to show a property that was worth 6 million dollars at the time of sunset. The view looked gorgeous while the sun was setting but soon after the sunset, bats in huge numbers emerged out of nowhere and the property deal was taken back. Sometimes, it’s not in our hands what the fate of the property is, but we must make use of what’s in our control, and so, here are the top three ways one can sell the property.”

The very first thing to do while selling a luxury property is to know every nook and corner of space. Get to know the property as if you were investing in it. Simply said, when you are confident only then can you assure the buyer. Get to understand the locality well because that too plays a major role in someone investing or buying a luxury property, suggests Berniker.

In his opinion, the second factor that comes into the picture is the target buyer. They can be anyone owning many cars and houses but most of them are simply ‘window shopping’ and it becomes very important for you to know where you are investing your time and energy.

As an experienced realtor, Berniker firmly believes that the third and most important aspect is to build connections with the richest people. He shares, “most influential people go with the gut. Spending time with them and understanding their needs and requirements is a way to know them entirely. If your vibe is right and matches with them, you can make a golden sale.”

Berniker further adds that expertise and experience enhance the process of selling luxury properties but the focus primarily needs to be on the ability to make the investor feel great. The presence of mind and knowledge play a key role in successfully locking your next big deal.