Key Questions for Your Real Estate Advisor when Selling a Luxury Home

When putting a luxury property on the market, an experienced real estate advisor is an indispensable resource. Here are essential questions to ask your advisor during the selling process:

Assessing Your Real Estate Advisor’s Expertise

Sellers in the luxury market need an advisor with a proven track record in high-end real estate. An experienced advisor like Paul Benson brings knowledge of complex deals, insights into potential buyers, and local market intelligence that goes beyond the MLS listings.

Key Questions To Ask:

• What is your approach to pricing luxury homes?
• How do you handle negotiations with high-net-worth buyers? Affluent buyers often prioritize specific elements like privacy and investment potential, and your advisor should know how to emphasize your property's unique value to them.
• How do you stay current with market trends?
• How will you position my property in the current market? A skilled advisor will be informed on the state of your local market and know how to leverage your property to be competitive within it.

Significance of Local Market Knowledge

Deep local knowledge - in addition to understanding the broader market forces at play - is crucial for identifying opportunities and managing risks in luxury real estate. Your advisor should understand the specific dynamics of key areas like Park City, Deer Valley, Summit, Sundance, Wasatch, and Promontory.

Key Questions To Ask:

1. How many luxury properties have you handled here?
2. What are the current market trends in the luxury segment of this area? 
3. Are there any emerging developments that could impact future property values? Major projects, such as new infrastructure or luxury communities like Deer Valley’s East Village, can influence home values. A well-connected advisor will be aware of such changes and how they might affect the future desirability of certain areas.

Showcasing Property-Specific Features for Maximum Appeal

A knowledgeable advisor can highlight the aspects that set your luxury property apart in listings and showings. Connecting your home to an elevated lifestyle is especially important in Utah markets, where outdoor living and work-life balance are high priorities for luxury buyers.

• What features of my property will attract buyers the most? These might be location-specific like ski-in ski-out access or lifestyle-enhancing like an indoor pool.
• What staging or upgrades would make my property more competitive?
• What types of showings and events do you recommend for my property? This will help you understand how the advisor plans to create a sense of exclusivity around your listing to attract serious buyers.
• Can you coordinate with luxury brands or services to elevate the viewing experience?

The Financial Aspects of Listing a Luxury Home

Selling a luxury property is more complex than a standard real estate transaction. Your advisor should work with your financial and legal teams to ensure you make a sound decision.

Key Questions To Ask:

• How should I price my home to stay competitive? Your advisor should have a well-planned pricing strategy guided by a Comparative Market Analysis.
• What are the tax implications of selling this property? Consider capital gains, deductions, and potential tax benefits. Your advisor and financial team should work together to clarify your tax obligations and maximize savings.
• Can this property be marketed as a rental opportunity? For buyers seeking investment potential, positioning your property as a short-term rental or vacation home could widen your interest pool.

Establishing Effective Communication for a Smooth Sale

Clear communication between you and your real estate advisor is key for a successful selling process, from listing to closing.

Key Questions To Ask:

• How often can I expect updates? Regular updates on showings, inquiries, and offers mean you’re always informed and can make timely decisions.
• What level of support can I expect during negotiations? Your advisor’s role doesn’t end with the listing. They should provide active guidance through each stage, from initial offers to contract details, to guarantee you’re positioned for the best outcome.
• What is your preferred communication method?

In Conclusion

Selling a luxury home is an exciting and significant decision. By asking the right questions, you’ll equip yourself with an advisor that will maximize your home’s potential in the market. With over 3,000 transactions and $2.8 billion in closed sales, Paul Benson’s track record speaks for itself. If you’re selling in Park City, Deer Valley, Sundance, Summit County, Wasatch County, or Promontory, he is the expert to consult.

Paul Benson, co-founder, and CEO of Engel & Völkers Gestalt Group, operates 55 offices across Utah, California, Nevada, Arizona, Colorado, Washington, and Idaho. He represents the most exclusive real estate and works with some of the most well-known clients in the world. With his extensive reach in global marketing and local market expertise, he has built the ultimate cross-marketing platform to showcase exceptional homes to the clients that will appreciate them the most.

Paul has been regularly ranked the #1 agent in Utah for sales volume. Within the past 6 years, he has been regularly ranked the #1 agent worldwide among the entire Engel & Völkers Network. Through these accomplishments, Paul has built relationships with hundreds of top agents around the world, which has created an invaluable network for his clients.