What’s just as important as marketing luxury homes?
Knowing how to work with luxury clients.
Money, power, and fame can be intimidating, which is why there’s less competition in the upper-tier real estate market and why getting in the minds of a rich buyer or rich seller is key to breaking into luxury real estate and finding real success.
That’s why after more than a decade, we have re-released an updated version of our book, Rich Buyer, Rich Seller.
Institute founder Laurie Moore-Moore wrote this book for two reasons:
Marketing luxury homes has timeless principles any agent can follow.
Marketing luxury homes is always in a state of evolution.
If you can find the balance between the two, you’re bound for success.
More than 15,000 copies of the original Rich Buyer, Rich Seller: The Real Estate Agents’ Guide to Marketing Luxury Homes have found their way into the hands of real estate professionals since this book was introduced in 2002.
In fact, Rich Buyer, Rich Seller was voted one of the top three real estate books by readers of the National Association of REALTORS® blog.
Since then, the luxury home market has grown by leaps and bounds—as has the number of real estate agents and brokers pursuing this lucrative segment. Competition is fierce. Now, more than ever, you need information and ideas to help you position yourself as a luxury home expert.
If your goal is to understand and meet the needs of affluent homebuyers and sellers, this newly revised and expanded book is for you.
Inside, you’ll find:
1. Why Breaking Into the Upper Tier Market Is Worth It
If the thought of marketing luxury homes and building relationships with affluent circles makes your heart sing, follow those nudges. Working in the upper-tier market, while challenging, has enormous payoffs.
Most agents find that marketing luxury homes takes as much or only a bit more effort than marketing traditional real estate, but the commissions are higher and clients are more savvy. The personal satisfaction of succeeding in luxury real estate is one of the most exhilarating experiences once you’ve found yourself deep in this business and thriving.
2. The Challenges of Luxury Real Estate
While the upper-tier market offers bigger payoffs than traditional real estate can, it also offers bigger challenges.
For instance, affluent clients are known to be some of the most demanding. They require you to be more flexible with your time, more discreet, more knowledgeable. Earning their trust can be difficult, as these clients are typically surrounded by individuals vying for their time and resources.
In addition to understanding a more challenging clientele, entering this market also requires sharper marketing skills and an understanding that just because a home is expensive, does not mean it will sell.
In fact, many luxury homes sit on the market for longer periods of time and more money goes into their marketing. However, if you can navigate the listing process with patience and expertise, you’ll find yourself more successful than your peers.
3. How to Target Rich Buyers and Rich Sellers to Work With
Do you know the difference between those with old money and new money? What about High Net Worth Individuals and Ultra High Net Worth Individuals? The wealthy are not simply one demographic and knowing how to approach each group accordingly helps you earn their trust and deliver a referral-worthy experience every time.
For more new luxury real estate professionals, finding affluent clients to work with is the biggest challenge they face when breaking into the upper-tier market. It can be especially difficult for those who haven’t spent any significant time in affluent circles.
However, better understanding the nuances of the language they use, the marketing they respond to, and their core desires and goals, makes for an easier transition and rise to success.
Where to Find Rich Buyer, Rich Seller
Our Members can enjoy complimentary access to our new release through our Member Portal. If you’re not yet an Institute Member with access to our done-for-you marketing tools and program materials, you will find Rich Buyer, Rich Seller available in eBook format on Amazon.
Learn With Us
During this time, we’re more committed than ever to your growth as a luxury real estate professional. We’ve moved our world-class Luxury Live trainings to our Luxury Livestream platform where you can get the training you need right now, without having to wait for a Live class to come to you. Stand out in the luxury real estate market and earn your Certified Luxury Home Marketing Specialist designation today. View the Luxury Livestream schedule and sign up for the next training.