Any real estate agent who’s thinking of breaking into the luxury real estate market should be aware that dealing with high-end clients is quite a different kettle of fish from traditional buyers.
A recent blog post in Better Homes and Gardens Real Estate provides some advice on how to deal with an altogether more sophisticated type of client, and the nuances involved.
For example, real estate agents in the luxury sector would do well to pay attention to the details, as luxury clients “tend to be heavily detail-oriented,” the blog says. As such, agents should pay close attention to their clients specific goals and come up with innovative strategies that can achieve them. Agents can even go further and generate reports or analyses for their clients to share with their partners, accountants, attorneys and advisers.
Another trick to to try and avoid taking a one-size-fits-all approach. Luxury clients won’t appreciate automated responses or generic marketing campaigns. Instead, what’s needed is a customized marketing plan based on the client’s unique goals.
It’s also a good idea to highlight the features of the properties you show them around. For example, shine a spotlight on the spacious living areas, heated pool or sauna. Go into extensive details on the unique features of the property, and try to tell a story about it that can pique some more interest, the Clean Slate blog reads. You could also try hosting an exclusive party for richer clients rather than an open house, as a way of showing off the property.
Finally, it’s absolutely vital to network in order to find enough high-end clients. This means mixing with people in luxury social circles, such as accountants, lawyers, architects, engineers and any other professionals. You can also hook up with other luxury real estate professionals.
“If difficulties arise, consider splitting the deal with another successful realtor who can help close it,” the blog noted.