Once referred to as an “artsy Shangri-La” by the New York Times, St. Petersburg is a stunning blend of Old Florida’s wild beauty and a sophisticated new urbanity rivaling Miami for glamor and drama. World-class museums and art galleries enhance the sense of culture while glistening waterways set the stage for an elegant, nautical way of life. This stylish flair makes St. Petersburg an ideal setting for luxe architecture and sumptuous design, and the market reflects a serious commitment to luxury. Waterfront estates here can make you feel like the candy-colored sky paints itself in pinks and purples just for you, while elegant penthouse apartments offer a slice of tropical heaven, towering above the sparkling city.
Selling these luxury homes is a specialized endeavor. The luxury real estate market functions differently than the average property sale and requires a nuanced knowledge of the market and buyer climate. Professional luxury agents can navigate this elite world with ease and confidence, which will make your selling process simple and significantly more lucrative than if you attempted the sale on your own. There are countless benefits of working with a real estate agent, especially in the luxury market. Read on for the top six reasons you should make it a priority.
1. Market expertise
The real estate market is made up of infinite bits of information, all swirling and rearranging themselves depending on the desired picture. Investment properties require a certain checklist of attributes, while house flipping demands another set of rules, and the luxury market stands alone as a specialized industry of its own. Zoning laws change, property taxes fluctuate, and financing is as much an art as a numbers game. In this amoeba-like realm of knowledge, the real estate agent holds the compass and can navigate the complexities with ease.
A St. Petersburg realtor will know every detail of the St. Petersburg market, offering their client unprecedented insight and guidance. Your agent understands the luxury climate, can compile a comparative market analysis report to determine your best listing price, can strategize how to get multiple bids, and knows exactly how to approach each sale, no matter how unique the property is. This kind of expertise is invaluable and can turn your selling process into an effortless adventure, sans the stress.
2. Access and connections
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Selling a home, especially a luxury property, requires access to a unique pool of potential buyers. Luxury homes, of course, command a higher price point, but a savvy agent knows that the right buyer brings more to the table than a stacked bank account. Luxury homes typically sport lavish custom amenities and are made for a life of style and affluence, and, as such, these properties can spend more time on the market. These houses are far beyond the average three-bedroom colonial, and their upscale nature elevates them to a more select group of buyers.
Your agent will have access to the MLS, the real estate industry’s multiple listing service, but will also have connections within the industry. They’ll know other agents and industry professionals and may have an existing base of luxury clients in the market for a new property. They also are likely familiar with a team of professionals and service providers who can enhance the experience — depending on your property, you may need access to reputable contractors, staging companies, painting and repair services, and home inspectors.
3. Client-first guidance
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Real estate agents may be experts in market trends and negotiation, but they wear many more hats. Because they work with so many different clients and various real estate professionals, agents tend to possess excellent communication skills. They often play the role of unofficial therapists, offering clients warmth, compassion, and a listening ear. As unofficial masters of psychology, agents understand how to bring clarity to the communication process and how to help clients identify goals and non-negotiables, which makes for an almost effortless selling process.
Agents also strictly adhere to the code of fiduciary duty, meaning they are bound by law to put their client’s needs first, disclose any and all pertinent information, and commit to doing their best work for the client’s best interest. A reputable agent knows everything, from how to strategize a list price to get you the most lucrative deal to how to identify the perfect time to sell your home.
4. Up-to-date knowledge
Agents study the market every day of their careers. Whether they are researching St. Petersburg real estate market trends and local neighborhoods or reviewing changes in property taxes or interest rates, real estate agents make a point of staying up-to-date with industry developments. While online listing platforms and “how-to” lists may make it seem like anyone can dive into the real estate world successfully, there is an incredible and unparalleled base of knowledge reputable agents have gained over their careers. A few days of concentrated study simply cannot compare to this kind of career-long immersion in the industry.
5. Streamlined strategies
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From an outside perspective, the luxury market can seem like a vast black sky, full of glittering stars, full of so much beauty and possibility – and so many steps. How is one to know which stars to pluck from that sky or which diamonds of wisdom to collect into the velvet bag of strategy? This may be where your luxury agent shines brightest.
From staging trends and listing prices to photo shoots and open houses, your agent will know exactly how to navigate every angle of your home-selling process. They will ensure you avoid the common mistakes associated with novice sellers and set you up for maximum success. For example, because of their spacious layouts and luxe amenities, like vaulted ceilings and expansive square footage, luxury homes often need specialized staging techniques. With large, open floor plans, it can be challenging for a buyer to visualize the potential of each room, but expert staging can define each nook to perfection, giving a clear picture of the home as a whole. Real estate agents bring this level of detail and strategic thinking to every step of the process.
6. Sharp negotiation skills
Agents spend their careers reviewing contracts and negotiating deals. They benefit from years of seeing what works, what doesn’t work, and when they can try something new, which means you don’t have to stumble through the process. Negotiation is an art, and watching savvy agents work their magic is a sight to behold – and something you’ll be able to take all the way to the bank.
Are you interested in exploring St. Petersburg real estate? Contact Andrew Salamone of The Salamone Group today to learn about moving to St. Petersburg and navigating the St. Petersburg real estate market.
*Header photo courtesy of Shutterstock