In this blog, we will tell you how to show your clients that you are not just a real estate agent, but an expert market analyst. You understand real estate cycles and the economy, you know where everything is moving. You can take care of the financial well-being of your client. In the luxury real estate market you need all of that, you need to show some skills. This guide is your key to getting better real estate clients.
How and why do foreigners invest in Miami?
- Don’t get stuck and get out there. Exchange by attending different events related to your target. Study the market, taking good care of trends and patterns. If you don’t have time to do everything, hire an assistant. If you don’t have enough money to pay an assistant, get one anyway, on commission. Caveat! Never conduct open houses. In the luxury market this is not considered elegant.
- Time management is essential. First of all, you can’t leave emails unread. Then check how each listing is performing. After that, focus only on tasks that you can consider monetizable. The rest, leave them to your assistant. Delegate operational and repetitive things. Make the most of your best skills. Never stay behind your computer all day.
- Get your own website. It will be an essential part of your business. Your potential customers can access frequently asked questions there, check your knowledge and experience, and get references from other buyers/sellers. It will be a good tool when it’s time to build your reputation in the field.
- Get on the phone with information. You cannot call someone without having at least minimal knowledge about him or his needs. Everyone gets tons of phone calls and messages these days, so try to make it memorable. Build trust for a lasting relationship, get personal with your customers.
- Being a collaborator with other real estate agents. Competition is a thing of the last century. Work as a team, gaining assets and knowledge about the market. Co-listing or co-marketing is better than never selling anything.
After checking all the basic steps above, go further. If you are focused on the luxury real estate market, then we are talking about substantial investments, homes or commercial real estate worth millions of dollars. In this case, sellers want things to be done in the correct and exact way that they expect. Read below.
3 keys to achieve your goals in the luxury market
- Appraise the property correctly. Never use a price per square foot. Look at comparable sold properties to avoid mispricing.
- Get a psychological profile of the target buyer. It will be a high-end clientele, so their work will not be the same as previous times.
- Do your marketing with fancy media. Photography and video should be top notch, providing compelling video tours and images of the property. In this case, a professional photographer is a must.
Work with lenders
Networking with private lenders will give you the opportunity to access different markets that you couldn’t on your own. For example, a foreign buyer who cannot access a regular bank mortgage could buy your luxury property if you offer him a private lender solution. In addition, private lenders could also get to know your potential clients better and help you market your luxury properties by working side by side.
Do not forget that, in the end, the final key to achieving volume in the luxury real estate market is to offer value to your clients. By doing great targeting, you can learn who your customers are and what is likely to provide value to them. Luxury real estate agents spend a lot of time living like their clients. Work on your image by reading what they read, attending the events your customers attend, getting into the right circles, learning the specific language of your potential buyers, educating yourself. That will be your main advantage when you go out into the luxury market.