Working with luxury clients can be a whole different ballgame. Sure, people are people. Real estate is real estate. Selling is selling, and so on and so forth. But, not so fast. Serving the niche population of luxury buyers and sellers comes with it's own tricks of the trade. We'll list some here so that you are ready to secure that next luxury listing.
It Can Be A Different Ball Game
High rises, penthouses, mansions, investment properties - you name it. Working with luxury clients can open a lot of doors for the average real estate agent. Agents wanting to get into the niche of luxury or looking to learn more on investment homes, will be thrilled working with luxury clients.
The reality is that all of your best practices for every client are the same for luxury clients. All clients deserve your punctuality, effort, and professionalism. Luxury clients might require more discreet dealings and they might expect you to go above and beyond. As the agent, you get to decide if that's worth it.
When preparing to show homes to your clients, be sure to be as thorough as possible. This is the worst possible time to seem underprepared or not on your A-game. This is the time to ask as many questions as possible and be very clear on expectations. That being said, be strategic and purposeful with your time and conversations. After all, time is money.
We're Not In Kansas Anymore (or are we?)
Big cities are typically synonymous with luxury in real estate. But, population doesn't always mean opulence. More and more areas like Jackson, Wyoming and other rural areas are seeing an influx of luxury buyers.
No longer are more rural or less popular areas seen as less sophisticated or sought after. In fact, midwest states and others that share their same values are in higher demand than ever.
Still, a midwest mansion is a far cry from a starter home under the national housing medium. Buyers and sellers looking to spend astronomical amounts of money on real estate often expect astronomical amounts of work from their agents and lenders. This makes sense as so much money is on the line and many who have these kinds of resources are used to a certain standard of care and living.
As an agent with integrity and class - it shouldn't matter where you're doing business. Luxury buyers or not should be treated with the same care and effort and your business will earn a stellar reputation.
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