Start Selling Luxury - Article in “Seattle Real Producers” Magazine
My Top Four Ways To Start Selling Luxury – Even If You’re Just Starting Out
Even though my inspiration for becoming a Realtor started with aspirations of owning a glorious waterfront compound of my own, I spent 12 years selling median-price point homes. Why waste all of that time? If your business goals are to sell luxury real estate, don’t wait! Here are my top 4 ways to start selling luxury:
Truth be told, I was always intimidated by the luxury market. Growing up in Renton and then living in West Seattle, I had very little exposure to luxury products, services or homes and aligning myself with people buying and selling at the higher price points wasn’t a focus of mine. It wasn’t until I was in the business for about a decade when I took a look at my bank account vs. the number of hours I was working and decided to do the work to change my mindset. I decided that I am smart enough and professional enough to work with high net worth individuals. When you boil it down, we are all human beings with wants, needs and aspirations. Have the confidence and be curious about the wants and needs of each individual luxury client and you’ll go far!
2. Know the Inventory
What is the difference between a $3M and a $4M property? What is valued more, a westerly view home on Clyde Hill or a golf course estate in Medina? Before being able to confidently make the statement that I was a “luxury” broker, I spent a year touring luxury inventory so I knew the neighborhoods, the streetby- street nuances and the top local builders. In fact, I personally still tour weekly. Know your market, know the stats, know the comparables. Luxury clients have typically bought and sold many homes over the course of their lives, so you need to be at least as competent at your craft as anyone else they have ever worked with (or ever will.)
3. Physically be where the luxury clients are
I moved from West Seattle to the Eastside which enabled me to naturally move up my price points, however, moving is not the only option. There were plenty of luxury listings all over the greater Seattle area, and some in West Seattle, but I was choosing to spend my time in the $400K-$700K space. It doesn’t take a fancy address to become a luxury broker but it does take being physically in the same room with luxury clients to win their business.
Host luxury opens! If you make that commitment to go after the luxury segment, you have to put in the time, have the right mindset, and physically be in the flow of your target market.
4. Operate with the highest level of integrity
Of course, this means not only with your clients but with other brokers as well. This might go without saying, but I do believe my reputation for integrity has been one of the keys to my success. Brokers and clients alike would rather do business with people they know, like and trust, so be trustworthy, be humble and be grateful. You will only go as far as your reputation and it’s a small world. Be impeccable with your words and your behavior and you will go where you want to go!