For real estate professionals looking to break into the luxury market, one of the most commonly asked questions is “How do you really win your first luxury real estate listing?” When you have the chance to represent an affluent client, of course you want to get it right and leave a positive first impression. This, in turn, can lead to many more sales and referrals down the road.
It’s a lot of pressure, isn’t it? The good news is that there are plenty of practical tips and best practices that new luxury real estate professionals can follow while making that leap into the competitive and dynamic luxury real estate market.
Build Your Personal Real Estate Brand
Perhaps the biggest thing to remember is that your success ultimately boils down to your personal brand and the reputation that you build. Even if you’re working with a brokerage, it’s important to establish an individual reputation, build valuable relationships with your clients, and create a brand image that you’re truly proud of. Your core values may very well align with that of your brokerage, but differentiating your personal brand and finding ways to stand out will make all the difference in your success as a luxury real estate professional.
This is why it’s so important to be your authentic self in all aspects of your career. Authenticity can help guide your efforts and make it easier for you to deliver a personalized, positive experience to your clients — and potentially secure more luxury real estate listings as a result.
Grow Your Personal Sphere of Influence
In a recent episode of our Estate of Mind podcast, “Marketing Blueprint Series: Building Your Luxury Real Estate Brand (Part 2) with Ricardo Rodriguez,” we sat down with Ricardo Rodriguez, a leader in the New England luxury real estate market. He explains the importance of not only creating a strong personal brand, but building a sphere of influence within the industry as well. He explains that as you build your sphere, you’re also growing your brand while creating more opportunities for yourself to succeed (and secure more luxury real estate listings).
With this in mind, it’s important to understand that in many cases, your first luxury real estate listing will likely come from an existing relationship. This could be a professional relationship with somebody who you have already worked with in a different career or context. Or, it may be a family friend or friend’s referral who believes in you as a person and a real estate professional. It could even be an existing client who is looking to buy in the luxury market for the first time.
Prioritize Communication and Adaptability
Another tip to keep in mind when it comes to winning your first luxury real estate listing is that communication is key, especially when working with affluent clientele. These clients often have busy schedules with very little room for flexibility. Make sure that it’s as easy as possible for clients to contact you — and make it a point to be in regular contact with your clients so that they’re always up-to-speed.
Meanwhile, understand that finding success as a luxury real estate professional often means being flexible with last-minute changes. A busy client may reschedule a showing that you worked hard to arrange; as frustrating as it can be, this is the nature of working with affluent clientele. Be ready to adapt so that you can stay in the game.
Never Stop Learning as a Real Estate Professional
You’ll learn quickly in the luxury real estate market that there’s no such thing as complacency. If you reach a point of feeling as though you have nothing new to learn or nothing new to offer your clients, you’re probably not going to be successful for very long.
The most successful luxury real estate professionals are constantly looking for ways to differentiate themselves and offer more than their competition can. This often means going above and beyond to stay on top of market trends and even earning special designations and certifications to stand out from other luxury real estate professionals.
The Institute for Luxury Home Marketing, for example, offers a Certified Luxury Home Marketing Specialist™ (CLHMS™) designation that can help luxury real estate professionals grow their personal brands, earn more, and enjoy a serious advantage over the competition.
Ready to Break Into Luxury Real Estate?
Getting started with your first luxury real estate listing is a huge opportunity for any real estate professional. And of course, it’s not something that you have multiple chances to “get right.” Fortunately, with these tips in mind, you can focus on winning your first luxury real estate listing and setting yourself up for a successful career in the upper tier.
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