SkillSET Blog
Advice For Pros · March 05, 2019 · AUTHOR: Udi Dorner

How to break into the luxury real estate market

The beauty of the luxury lifestyle is alluring. If you are a real estate agent and have decided to take your services to the next level, then entering into a luxury market can make your way. However, you can’t just luxuriate your way into this tough market! To excel in selling high-end properties, you must not forget that such markets demand a unique value and custom-made experience. Remember that the strategy you choose for a newlywed couple and for a billionaire would never be the same. At its core, selling luxury real estate relies on the same fundamentals as all real estate sales: understanding the value you offer for your service.

Spend money to make money

This is not just a saying, it’s a fact! You can’t reach the clientele you’re after by traditional methods of rolling out emails or booking ad space online. You must start with spending time in a circle of high-end clients. You can offer them lunch and dinners at their favorite places. Even if you have to spend thousands of dollars to position yourself as a luxury real estate broker, then you must do that.

Create a wow experience

The high-end market is all about that “wow” experience. Make it your goal to establish an extraordinary experience. You need to have such flair that you can make your clients feel pampered, which will translate to positive feelings about the home you are selling. Gifts can be an add-on and can create a wow experience.

Be an expert

Do whatever it takes to be an expert in this luxury real estate market. Explore, read, network, do competitor research and build a strong profile of your business and your success. You must be aware of the listings, sales, and the trends of your target market. If you don’t have this vast catalog of knowledge about the needs of your clients and their value for money, you won’t be able to build or maintain credibility. Be ready to answer all the questions from clients, whether they are about property value, listings, and tax assessment. It’s difficult but not impossible to break into the luxury market. With some dedication, confidence, and an investment of time and money, you can be showing multimillion-dollar properties and collecting the commission checks in no time!

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