The Luxury Home Tour LLC is a REALTOR® organized home tour that first started in 1982. They primarily focus on luxury homes in Arcadia and Paradise Valley, Arizona. The member-only organization has marketing tours twice a month with a committee of volunteers that work behind the scenes to make sure these tours are executed well. I’m going to share why I believe our membership is valuable for our clients.
Luxury Market Share
First of all, if you look at the market share breakdown over the last 60 homes that sold for over $1,000,000 you can see it is a very competitive market segment. There is no individual agent that controls this market. Of the last 57 homes that sold in the local MLS (Arizona Regional Multiple Listing Service) for over $1,000,000, they were represented by 52 different luxury real estate agents. The most any one agent had was 2.
Previewing Luxury Homes
Luxury homes can be a little more difficult to access than homes under a million. Luxury sellers tend to be slightly more private, and luxury agents are sometimes required to be present for showings. One of the main reasons we joined the tour is because it allows us to preview more luxury homes for our clients. The more homes we see means the more educated we are. The more educated we are means the more valuable our services to our clients. It ties into how much we know to offer, whether homes are priced well or not, and if we need to act fast to take advantage of a particular opportunity.
Networking with Luxury Real Estate Agents
The other thing the luxury home tour allows us to do is network with the other luxury real estate agents in our market. Pocket listings, homes for sale that are not listed in the MLS, are a common thing in this price range. Discrete sellers that are not in a hurry to sell may not want pictures online or a sign in front of their home. An effective way agents market these luxury properties is at the Luxury Home Tour.
Let us know if you are in the market to buy or sell a home over a million dollars. We’re happy to share our knowledge with you. Sibbach Team Direct Line: 480-215-7365