Over the years I have had the privilege of serving the real estate needs of many influential, wealthy business people and sports figures. My career has provided me with an education about what luxury buyers and sellers want from a real estate professional.
One thing I have learned is that they want the relationship to be easy. By that, I mean that they want to know that you are capable and earnest about their business. They won’t work with you if they think you cannot handle their transaction. They have to know that you have the expertise they require, and to be able to trust you.
This does not mean that you have to have handled a lot of luxury transactions already. It means that you know the steps required to execute a sale or purchase of a home, and that you have integrity in your dealings and your effort. Wealthy people, whether on a business team or sports team, know that they don’t have to have all the answers and know how to do everything, they just have to have a network of people available to them who do. Mark Cuban can’t play professional basketball, but he does have a team of people at his disposal who can. Together they are successful (hopefully!).
When you are talking with prospective clients, which means anyone with whom you are talking about your career, tell them about the network of experts that you have available to you.
Luxury clients do not want to be treated differently. They want respect and professionalism like anyone else. They might require more service, and for longer, for their properties because those transactions over $500,000 do usually take longer than a transaction for $200,000 from the time they sign an agreement with you and close on their property. But don’t feel like you have to buy them expensive meals act outside of your financial integrity to please them.
The same advice that I would give anyone about how to expand their network applies to the luxury sector as well. Go where the people are who share the same passions as you. If you hate golf, don’t go to the golf course. Anyone can sniff out a faker. I happen to love golf, and have gotten a lot of business through golf connections. If you don’t have a hobby that wealthy people are interested in you can find other connections, like church or the Chamber. Look for where the wealthy people go, and go there. You can go to a fancy restaurant, sit at the bar and order club soda with lime, and you never know who you might meet.
It has been said before, but it’s tried-and-true; dress for the job you want. You don’t have to spend a lot of money on clothes, but be presentable. Someone who wants to sell a million-dollar home is not going to hire someone in sweat pants and a stained shirt.
Lastly, luxury buyers require a high level of integrity. They have to know that you aren’t going to blab about their contentious divorce that’s causing them to sell their house, or that they have a bankruptcy on their record, or any of the other personal information you learn through working with them. You must keep their confidence
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