If you're an agent who wants to specialize in luxury property, or if you are interested in luxury home auctions, then you should know these tricks to sell homes for top dollar. First, ensure your branding and marketing materials have a sophisticated aesthetic. Be expert-level knowledgeable about the areas in which you want to handle sales, and offer a concierge level of service. Finally, know how to market sales to the most affluent of clients, and make sure to be familiar with luxury real estate auctions.
Your Branding Aesthetic
Having a sophisticated aesthetic is vital for luxury real estate and luxury home auctions. This means that your branding materials – your website, your logo, your business cards, and so on – should be high-end and elegant. This will help create an image of exclusivity and sophistication, which many luxury home buyers are seeking. For assistance with designing sophisticated branding materials, consider a service like Luxury Presence, an all-in-one platform for agent and property websites, blog publishing, listing management, SEO plans, ad creation, and more.
Know Your Area, Know Your Ideal Client
If you want to successfully sell luxury homes, including through luxury real estate auctions, you need to be an expert in the field. This means having in-depth knowledge of the areas where you're handling sales. You should know everything there is to know about the local market, including trends, prices, and desirable neighborhoods. You should also be familiar with other agents with whom you can partner to move expensive property. A solid way to partner and expand your marketing reach is to use luxury home auctions.
You should also be familiar with the type of person who is most likely to buy a luxury home in the area. What are their demographics? What are their interests? What other types of properties do they own? Are they local clients or international buyers seeking vacation homes? How are they most likely to search for homes? What types of clients know about luxury home auctions, and how can you draw even more attention to luxury real estate auctions? Researching this information will help you market your listings more effectively and find buyers who are genuinely interested in what you have to offer.
Offer a Concierge Level of Service
It is important to remember that both your buyers and sellers want the process to be as easy and smooth as possible when selling luxury properties. Therefore, real estate agents can find it lucrative to offer a concierge level of service to ensure a smooth transaction, which can look like this:
- Offering the option of you and your agency paying for home repairs and upgrades upfront and allowing the client to repay you upon successful sale closure or after a pre-agreed upon date (12 months for repayment is common) or other agreed upon contingencies have been met.
- Handling all appointment scheduling for inspections, contractors for repairs and upgrades, staging, etc., or at least having a solid roster of services and contractors you can recommend.
- Being available by phone call or text at hours most convenient to your client can look like "round the clock" availability if your clients are in a different state or country. You also make sure to check in regularly.
- Investigating other luxury real estate agents with a successful history of major sales so you can partner with them on individual sales, especially if you are still trying to establish yourself in the luxury market.
- Treating your client with care and understanding by going beyond the initial set of requirements to consider other upcoming life events they may have mentioned in passing (such as having children or planning to retire). Depending on the client’s lifestyle and the lifestyle they hope to enjoy soon, you should be able to do extra research to find the best neighborhoods and properties to meet each client's needs.
How to Find and Market to Clients
Given the luxury market often has a limited customer base compared to non-luxury sales, it is important to know how to generate leads. Some ways you can do this include:
- Identify a problem you can solve for affluent clients, such as providing expert information on tax considerations, zoning, real estate investment, prenuptial considerations, common property, etc. Ask yourself what skills and knowledge you already have, or can easily obtain, that are of use to affluent clients.
- Search for expired luxury listings and listings for sale by owner. By contacting these individuals, you can inquire about their previous agent experiences and whether they would be interested in working with you in the future.
- Use your hobbies to get in touch with potential clients who may not be actively searching for a luxury home but could still be interested in purchasing one. Consider hobbies like golf, attending luxury beach resorts, horseback riding, and vintage cars. Start with a hobby you already enjoy or one in which you have an adjacent interest. Authentic and enthusiastic interest in networking with fellow hobbyists can more easily generate potential leads.
- Get involved with charities and high-end events. This can be a great way to market your luxury services while also giving back to the community.
Luxury Home Auctions
Earlier, we discussed partnering with other agents to expand the market for your listing and how to establish a history of luxury sales for your real estate brand. One of the easiest ways to do this is by listing with luxury real estate auctions. Luxury home auctions are usually handled through a listing service that partners with agents who have clients wanting to sell their properties for top dollar. It is not uncommon to see shared auction listings with major luxury players like Sotheby's - yes, that Sotheby's of major art auction fame. Your listings can reach local and international buyers interested in finding a new dream property for income, vacation, or permanent living through luxury real estate auctions.
To summarize the tips to be a successful luxury real estate agent, a sophisticated aesthetic is key with luxury branded marketing materials. In addition, a concierge level of service is essential when working with affluent clients. Furthermore, make sure to be an expert in the region you service.
Lastly, learn how luxury real estate auctions. To discuss luxury home auctions, reach out to trusted expert Chad Roffers.