In this blog, we’ll tell you how to show your clients you are not just a real estate agent, but an expert market analyst. You understand real estate cycles and economics, you know where is everything moving to. You can take care of your client’s financial well-being. In the luxury real estate market you need all of that, you need to show some skills. This guide is your key to achieve better real estate clients.
5 basic steps to become a starship luxury real estate agent
- Don’t be stuck and get out there. Exchange by attending to 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 money enough to pay an assistant, get one anyway, on a commission basis. Warning! Don’t you ever run open houses. In the luxury market this is not considered as classy.
- Time managing is a fundamental thing. First, you cannot leave emails unread. Then check how’s every listing performing. After that, focus only on the tasks that you can consider as monetizable. The rest of them, leave them to your assistant. Delegate the operative and repetitive stuff. Make the most of your best skills. Never remain all day behind your computer.
- Get your own website. It will be an essential part of your business. Your possible clients can access frequently asked questions there, verify your knowledge and experience, and get to see referrals 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 can’t call someone without having at least a minimum knowledge about them or about their needs. Nowadays everyone is receiving tons of phone calls and messages, so try to make it memorable. Build trust for a lasting relationship, get personal with your clients.
- Be collaborative with other realtors. Competition is a thing from the last century. Work in teams, gaining assets and knowledge about the market. Co-listing or co-marketing is better than never selling anything.
After checking all the previous basic steps, 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 right and exact way they are expecting. Read below.
3 keys to achieving your goals in the luxury market
- Price the property correctly. Never use a price per square foot. Look out at comparable sold properties to avoid pricing wrongly.
- Get a psychological profile of the target buyer. It will be a high-end clientele, so your work will not be the same as other previous times.
- Do your marketing with luxury media. Photography and video should be upclass, providing video tours and attractive pictures of the property. In this case a professional photo shooter is a must.
Working with lenders
Networking with private lenders will allow you the opportunity to access different markets you couldn’t just by yourself. For instance, a foreign buyer that is not capable of access a regular bank mortgage, could buy your luxury property if you offer them a private lender solution. Also, private lenders could also better know your possible clients and help you marketing your luxury properties working side by side.
Don’t forget in the end, the final key to getting volume in the luxury real estate market, is offering value to your clients. If you do a great targeting, you get to know who your clients are and what it will possibly provide them value. Luxury realtors spend a lot of time living as their clients do. Work on your image reading what they read, attending the events your clients attend, getting in the right circles, learning the specific language of your possible buyers, educating yourself. That will be your main advantage when you go out in the luxury market.