The average real estate agent earns $45,737 per year, according to Payscale.com.
In luxury real estate, you can earn that in just one deal. Who doesn’t want bigger commissions, name recognition, publicity, and business opportunities?
Here are 21 tips from top producing Realtors on how to break into the luxury real estate market.
2. Create an Experience
Joyce Rey, Beverly Hills Broker, JoyceRey.com
“The marketing plan for each home will be unique,” Joyce Rey of Coldwell Banker Previews International says, “but the experience should be extraordinary.” Arthur Sharif adds: “You need to have the panache so that what you do makes people feel like everything about the home is special … it’s like you can’t sell a $4,000 suit at Kmart. Everything has to be just perfect because people will judge the presentation as much as the product.” Often that means inviting clients to pre-market showings or including gifts with each showing. But ultimately, you have to stick with what works for you, said Jade Mills, an agent from Coldwell Banker Previews International.
Zillow Premier Agent is Zillow’s advertising platform for real estate agents. It allows you to promote your listings and connect with new clients, both buyers and sellers. You are able to search across all zip codes to see details about costs and competition. Using that information, you can then find luxury zip codes and get your name on high-value listings. As a Zillow Premier Agent, you’ll have the added benefit of being the exclusive agent promoted on your own listings.
20. Keep in Mind Your Costs for Staging, Marketing & More Will be Higher
Dylan Diersen, Wisconsin Realtor, First Weber Inc
“The first step to moving into the high-end markets is to make the decision to do so. You have to be willing to spend money. A lower or mid-range property is easy to sell in most markets with simply pricing it right. However, when you move to the higher end you have to stage and be prepared to drop money on catering and a lot of marketing. Networking is the other thing an agent will spend money on to land these high-end buyers and sellers.”
Over to You
Have a great pearl of wisdom for marketing luxury real estate? Let us know in the comments!