How to Fast Track and Become an Authority and Expert in Luxury Home Sales
August 11, 2021
Have you considered breaking into the luxury home sales market or expanding your reach as an existing luxury home agent? Here is a list of 3 key steps that are critical to fast tracking yourself to a successful and established expert in the luxury home market.
- Have Absolute Confidence in the Product Knowledge.
Luxury home buyers expect that agents know their stuff. No faking it till you make it! Well established luxury agents accumulate massive amounts of information about the luxury communities they serve. They know the details of the homes, the designs and layouts, the amenities, the communities, the builders, associations and the neighborhoods. They are experts on the schools, businesses, restaurants, golf courses and entertainment in the areas as well
Rather than working years developing the product knowledge that luxury home buyers and sellers command from you, you will need to be focused, disciplined and intentional about learning the market. This will be your fulltime job.
Choose several geographic areas or communities that you wish to focus your efforts and get laser focused. You will learn and establish yourself much faster. Participate in the luxury home tours and preview every home possible. Create specific search criteria on ARMLS and get to know the inventory to the point that you can speak on the subject with great confidence.
Finally, sit open houses, and learn from other agents and the consumer. Utilize this opportunity to create a list of people who are potential luxury home buyers and sellers. Capitalize on your brokerages reputation, brand and expertise and connect with other luxury agents in your office with a large presence in the community. Understand the Lingo of Luxury Market
There is a defined language in the luxury industry. The attributes, features and amenities are unique to luxury homes. Luxury boast finishes that are unique to these types of homes. It is vitally important that you are familiar with the brands and style differences in order to speak with certainty to your buyer and sellers.
What is a luxury consumer looking for? Understanding this is essential to your success. Did you know that according to recent surveys, the number one amenity luxury homes buyers are looking for is ‘all things high tech’? The number two choice is ‘home theaters’.
Email me if you’d like to challenge your knowledge with a quiz on home amenities and top luxury homes brands. I’ll also provide you a list of the top brands and amenities that luxury homeowners are passionate about.
- Immerse Yourself into the Community
Enthusiastically engage and take a deep and intentional dive to immerse yourself as an authority in the market and community. Get comfortable with the clientele by being where they are. Visit area restaurants, attend charity and social events and be a part of the community. Oh…and one more thing, ideally, you will want reside in the area you will be working in. This gives your customer’s confidence that you understand the homes, the community and are the true area expert.
- Become an Authority Figure
Now it’s time to position yourself as an authority figure. Much of this will happen as you meet people in the community while you are out and about. A couple quick tips include, writing a blog or creating a community Facebook page with regular posts on the home buying and selling market, community outreach and special events. Further, if you are bold and adventurous, hire a public relations firm to promote you as an area expert. You might be surprised how often the media will call on you for your opinion or expert advice.
In the real estate industry, there is an adage that states, “If you don’t choose your market, your market will choose you.” This simply means that if you are not intentional about the community you wish to serve, the homes you ideally wish to sell, the type of consumers or niche you wish to focus on, a market will come to you by default.