Marketing, Realtor Advice

How to Break into the Luxury Home Market

A View from the Beach

I recently read an article written by a Certified Luxury Home Marketing Specialist (CLHMS designation offered by NAR), and I wanted to share some tips with you on how to break into the luxury home market.

In addition, consider studying the lifestyles and habits of the rich. A great book to read is The Millionaire Next Door, which debunks the theory that the truly rich are not who you think they are.

Get familiar with the luxury lifestyle.

  • Visit luxury homes and get familiar with the types of upgrades included—especially kitchens, baths, and landscaping.
  • Check out the garages – usually 5 to 10 stalls; finished walls and tile floors. A bathroom. Maybe even a high-end toolshed.
  • Learn the luxury brands of cars/antique cars and know what they cost to acquire.
  • Visit showrooms where high-end home finishes and décor can be found. Learn the prices and what sets them apart from standard finishes.
  • Attend high-end antique auctions. The rich look for unique items that nobody else has.
  • Attend the theatre. Join a country club. Join a boat club. Go to high-end restaurants.

Learn the luxury buyer profile.

  • Read magazines. Yachting. Car & Driver. Luxury Home Magazines. Jet Set Magazine. (Find them in your library.)
  • Read books about wealth or famous people.
  • Learn about how they acquired their wealth.

Develop excellent manners.

  • Take a course on social manners.
  • Learn table manners. How a table should be set. What silverware to use.
  • Know what food courses are in a 7-course meal.

The rich are different. Read. Listen. Learn how they think. Why they make the choices that they do. Why some like to display their wealth while others don’t.

You don’t have to be wealthy to work with rich clients as long as you can “talk their language”.

What else would you add to this list?

Marketing, Realtor Advice

Networking for People to Who Hate to Network

A View from the Beach
A View from the Beach

Let’s face it—a vast majority of people view networking as a chore! If you are shy, it’s especially painful. But, as a real estate agent, it’s one of the pillars of your business that is critical to your long-term success. Jodi Glickman Brown, President of Great On the Job, shares tips on how to network — and maybe even enjoy the process!

Working the Room

Scope Out the Room: A room full of strangers can be intimidating. Try to find out who’s going to be there ahead of time or ask to check the registration when you arrive. Start your networking by finding someone you already know and ask, “Is there anyone here that you think I should meet?”

Bring a Wingman: If you can, bring along a friend who is more outgoing than you and ask them to help you meet new people. You might also ask them to “talk you up” a little bit when being introduced — “My friend Jolene sells real estate and specializes in luxury homes…”

Arrive Early: Let’s face it…it’s easier to walk into a room with 10 people instead of 50!

Networking One-on-One

Listen More Than You Talk: Ask questions to get the person to talk about them self (who doesn’t like to do that?). Ask questions like, What was your first job? Or, what is your favorite website or blog? Asking about a favorite book is also a good conversation starter.

Schedule a Lunch: If you feel that you have something in common or find that you are bonding with the person you just met, ask if you might contact them in a couple of weeks for lunch! Aim for one lunch per week with someone new.

Rely On Friends: You are only about 4 people away from ANYONE you want to meet. Ask a mutual friend to make an introduction—either at the event or via email.

Get Permission to Email Updates: Especially if you regularly provide useful information about the current real estate market, home improvement tips or how to increase your credit score. Ask for permission to include them in your email notices. Most people (face-to-face) will say yes and they can always opt out if they don’t want to receive any more emails from you!

Don’t think of networking as “asking for something”. Think of it as “giving something”. It’s all about meeting new people, contacts and resources that you can tap into later!