Becoming successful in the real estate market is not an easy task and of course, the level of difficulty increases when you are involved with the high-end ones, as blogged by Rochester Real Estate. So in order to gain positive results, you need to at least have a clue on what you are dealing with. So here are the six steps to become successful in the Luxury Real Estate Market, as taught by the Househuntnetwork.
Step 1: Map Your Market
First, create benchmarks for what you want to achieve. After setting your goals, you need to establish in your market by creating a resume, a good reputation, and an image that anyone can go to for advice. You can advertise by creating promotional materials and distributing newsletters. Complete a two year sales history and connect with local business owners, architects, and builders. Lastly, get in touch with high net worth individuals (HNWIs).
Step 2: Be Unique
How? Identify first the current leader in your area's luxury real estate market and then try to assess his strengths and weaknesses. Through this information, turn things around for yourself by building a unique approach for your luxury clients.
Step 3: Make your Gatekeepers into Allies
Remember: Affluent people will have gatekeepers or the people you have to go through first before you get to the most important ones. To do that, first identify the gatekeepers and find where they are. Start bringing value to them and they will bring their high-end clients to you. Usually, gatekeepers are CPAs, trust officers, attorneys, and investment advisors. Share your market expertise to gatekeepers and they will start to trust and value you.
Step 4: Create your Luxury Process
Another important note: wealthy clients want dependable and consistent results so you need to convey value in your process. For your Pre-Listing process - have your resume, bio, market data, endorsement, company materials, and stats ready. Always practice for your presentation. For Listing Process, do something new and keep in mind to be unique and be better than the current leader in the luxury real estate market in your area.
Step 5: Let your Client Know that Theirs is the Only Listing You Will Take Under Contract
When your client believes that you will be working exclusively for them, they will think that you will be giving your 100% effort to their transaction. Reassure them that you plan to "make your mark" in the luxury real estate market by closing a deal efficiently. After proving to be effective, they will give you more luxury referrals.
Step 6: Deliver Knockout Presentations on your Luxury Listing
Remember to never show all your cards during the first appointment and just provide them more detailed information in the second. Highlight your unique selling propositions which will make you stand out from the rest.
Now, once you have done all of the steps above, let the world know and do the steps all over again!
