The path to becoming a luxury real estate agent isn’t always easy. Traditionally, most luxury home listings come from referrals and word of mouth over any other type of advertising. Unless you come from money or already move in the same circles as those with money, the luxury market can be challenging to break into.
Even if you don’t have connections that link you to the money crowd, it’s certainly not impossible to take the quantum leap into listing and selling high-end properties. The key is to understand the market before taking the leap.
Here are some quick tips to fast track your career to becoming a luxury real estate professional:
- Gain Some Experience
Taking on a luxury property listing is a lot different to presenting a small apartment at the low end of the market. It’s important to gain some experience with the selling process before trying to jump into the luxury listing market.
Spend a few months showing local listings to get a solid grasp of the contractual process and the legal obligations. When you’ve learned the ropes and understand the sales process a little better, you’ll have far more confidence to work with at the higher end of the market.
- Find a Mentor
Spend some time shadowing a successful real estate agent and learn all you can about the entire process. Ask your mentor plenty of questions and take note of the responses you get. Contact Andrew Reeves Countrywide and ask if they are willing to impart some of their extensive knowledge about the local area.
- Market Your Services to the Right Crowd
Finding a way to meet the right crowd of people on a professional level can be daunting, especially if you’re not already involved with that scene. This is where the vast majority of newer real estate agents make the mistake of trying to hang with the luxury crowd in a social setting instead.
Remember, your clients already have enough friends. They want a professional agent who is entirely focused on getting them what they want. If you want to get a foot in the door to your target market, think about marketing your services to accountants, attorneys, or financial planners. Don’t ask them directly for their referrals, but make it clear you’re happy to return recommendations and referrals when the opportunity arises.
- Look the Part
A real estate agent working exclusively in the luxury market needs to look the part to gain the business. Always ensure that your attire is professional and be well-groomed at all times. Your manners need to be impeccable and it’s a good idea to avoid talking about yourself unless you’re asked directly.
If you can afford to, consider buying or leasing a nice car. You don’t have to be extravagant, but turning up to a luxury appointment in a beat up old bomb won’t win you much business. Likewise, if you’re driving luxury buyers around to look at homes, your style needs to represent the high-end industry in the right way.
- Brand Your Services Properly
Your marketing material needs to reflect your involvement in the high-end of the market. Your business cards, signs, listings and any other advertising should be professionally printed and look prestigious.
Your online presence also plays a big part in representing your brand these days, so keep it professional at all times. Pay for luxury branding and designing to ensure your entire brand appeals to high-end clients and achieves the results you want.
- Make the Luxury Market Your Prime Focus
When a luxury prospect asks you about recent listings and sales, the last thing you need is a track record of low-end deals on the wrong side of the city. If you happen to receive engagements that fall outside of the luxury market, consider offering them to another agent for a referral fee.
- Invest in the Latest Real Estate Technology
High-end buyers and sellers want to see that you treat each listing as a truly prestigious property. There are some amazing new real estate tools and technology available that lets you showcase prime listings in unique ways.
For example, you can have professional photographic shots taken of the property and have them turned into an exclusive video walk-through that you can present to prospective buyers on your tablet PC or smartphone.
Developing a lead funnel for the high-end real estate market can take time. Yet, once the referrals start rolling in and the sales start adding up you’ll be thankful for the effort you put in to get there.
Finley Bradshaw is now at a point in his career when he gets the chance to sell some high-end luxury listings. He enjoys the thrill and challenge of finding buyers of luxury properties and likes to share his experiences with an online audience. Finely is a frequent contributor for a variety of property and lifestyle websites.
Categories: Real Estate