Luxury real estate may not be the market for everyone, but it attracts agents by the thousands. Competition is steep, but with preparation and dedication (and a bit of luck!), you can make it. If the thought of strategizing and working hard excites you, read on to discover how you can tap into this lucrative market with tips from insiders.
Build your portfolio
Relationships are the heart of the real estate business. Without them, transactions can feel cold. You must form – and keep – connections that are genuine. How can you do this? By being yourself and showing clients that you are the person to trust with their next home. The starting point is a stellar portfolio for building that trust. Sellers want to see you have the qualifications they need. Experience counts here, so highlight five of your greatest real estate accomplishments in your portfolio. As you sell more luxury homes, update your portfolio with every sale. The best time to do this is right after closing, when the excitement is still high, and you can vividly recall the details. Your top performances will become your calling card.
High-end clients want an agent who is an expert in their desired geographic area. If you are not sure which communities are best for you, focus on the ones with high-end listings. Cast a wide net, then narrow down to a niche.. To get started, research trends, listings and pending offers, and stay current with news from your desired market. Prepare to dive deep to discover the wants and needs of your future clients to tailor your marketing strategy to their preferences. Make the first step in connecting by knocking on doors, making phone calls and launching a social media campaign to get their attention.
Join their circles
There are numerous businesses that cater to exclusive clientele. Begin networking with these businesses and create genuine connections to them by co-sponsoring an event or volunteering at the same charities they do. You will need positive word of mouth to garner referrals that will get you recognition.
High-end clients are quite discerning when deciding who they choose to represent their business interests. You should be keenly aware of your presentation and project excellence whenever you are in the public eye. Take the time to look polished and choose your words carefully. It takes months to build a reputation and only moments to destroy it. Your connections to this community should be a priority; treat them as such. Beyond your professional appearance, your marketing materials should be of the highest quality. Hire the best firms or individuals for your videos and photography.
Your marketing message and presentations must be consistent in addition to being high-quality. It does not matter how stellar your track record is if it is not presented well. Your strategy is not about diversification; high-end clients want an expert. Focus only on high-end listings to gain credibility. Make sure your marketing materials remain consistent, from listings to contracts.
Understand the art of real estate
Real estate is both an art and a science. While one can focus on numbers and be successful, the art of meaningful human interaction cannot be discounted. Understand exactly what you clients want and give it to them. Distinctive Collection by Better Homes and Gardens Real Estate® is a comprehensive program with a focus on luxury sellers and high-end buyers. The BHGRE® luxury program has tools, materials and specialized training to help you market via unique, distinctive branding. As an affiliated BHGRE® agent, you will find yourself in a position to expand your business.
You can be a luxury real estate agent by building quality relationships, being professional in public and being consistent with your marketing efforts. The BHGRE team is here to support you along the way as you soar to new heights in your career.