If you are looking to buy or sell a luxury home, there are many things you need to consider. The best luxury agents like Maxwell Waitt have extensive knowledge about high-end homes’ various features and selling points and have all the pertinent information in a bound brochure book. Ideally, the luxury agent will also have the home’s narrative and supporting documents prepared in bulleted list form. In addition, you should be able to request PDF files of the listing details.
Real estate agents with a sphere of influence
Real estate agents need to cultivate their sphere of influence to gain referral business. Referrals and repeat business are the lifeblood of the real estate business. As such, agents must nurture their relationships within their sphere of influence to generate referrals and leads. For example, a recent study showed that 39% of home sellers found their real estate agents through a referral or by using an agent who had worked with them previously.
In addition to networking with existing clients, real estate agents can tap into their sphere of influence via social media. Facebook, for example, attracts a lot of attention and has tremendous business potential. Real estate agents can leverage their relationships to attract new customers and increase their business volume by using this network of contacts. Almost 65 percent of their business comes from referrals, so tapping into your sphere of influence is an excellent way to make a great impression on people.
Accredited luxury home specialists
There are many things to look for in a trusted realtor for luxury homes, including credentials such as being an Accredited Luxury Home Specialist (ALHS). Having this designation is an essential distinction in the real estate industry. It can reassure affluent buyers and sellers that they are working with a professional with advanced training and knowledge in this field. In addition, an ALHS has completed an education program and has joined the Luxury Home Council. As a member of this organization, your realtor has extensive knowledge of the luxury home market and how to communicate with them effectively.
Ensure that your agent is accredited. Luxury homes are challenging to sell, but you need an authentic agent. Clients won’t accept fakery. Agents specializing in luxury homes also need to know how to talk about these properties appropriately. Accredited luxury home specialists should understand the jargon associated with them – for example, balusters and balustrades are two terms for the same thing. And a luxury home specialist should know the differences between zoning boards and easements.
Co-listing with other agents
When hiring a trusted realtor for luxury homes, co-listing with other real estate professionals can help you establish relationships and gain new business. In addition, a successful partner will raise your standing in the community, thereby facilitating more sales. However, it’s essential to treat co-listing like any other potential sales opportunity. Be sure that your partner takes the opportunity seriously and maintains the same high standards of professionalism.
Whether hiring a new or experienced realtor, co-listing with other agents is an excellent strategy to generate additional leads for your luxury home listing. However, if you’re considering co-listing with another luxury realtor, do your due diligence and speak to a few agents before finalizing. If you have the time and the motivation, you should look for agents willing to co-list. In addition, you’ll be sharing a portion of the commission you’d receive if you were selling the luxury home.
Developing relationships with high-end homeowners
Luxury homeowners are an extraordinarily affluent and exclusive market, and they’re well worth your time. While many luxury homeowners initially opt to rent their property as a placeholder, most eventually become frustrated and sell before signing their lease. However, building a relationship with these clients can prove a unique tool because they’re often immune to competition.