Most real estate agents operate at the lower end of the market. But unlike many industries, the sky truly is your limit, and if you are able to crack the high-end real estate market, you can earn a fortune in commission.
You are in control of who you work with and how you achieve your sales. Once you understand the market and how best to attract high-end clients, the world is your oyster. So, if you have a burning desire to sell a swanky condo to an A-Lister and or Silicon Valley tech CEO, here are a few tips to jump-start your high-end real estate career.
Look and Act the Part
High-end clients won’t be interested in working with you if you don’t look the part. Upgrade your style and wear designer apparel. Talk and dress like your clients, so they feel comfortable in your presence. Be confident at all times; self-confidence will open a lot of doors.
Do Your Research
Research pays dividends in all areas of real estate. It’s pointless hoping for high-end clients if you target a low-rent area. You need to operate where the big earners live and work. Hang out with your target clients. Join the country clubs and work on your golf handicap. Do volunteer work and become a well-known name on the local charity fundraising circuit – this is where rich people often devote a lot of their spare time. Network and build relationships. You want your name on their mind when they have a property transaction on the cards.
Build Lasting Relationships
People’s lives ebb and flow. The young couple today shopping for a small family home could be tomorrow’s upwardly mobile power couple looking for a beachfront condo in an ultra-rich neighborhood. Keep in touch with all your clients and prioritize good customer service. That way, when they are upgrading to high-end real estate, you’ll be the one they call.
Professional referral partners are also worth cultivating too. Network with CPAs and attorneys. They will be more inclined to pass on your contact details to their wealthy clients if they know and trust you.
Market to the Right People
Targeted marketing is crucial if you want to build a high-end client case. All of your marketing materials must be high-quality. From business cards to brochures, pay extra attention to the details. Invest in the best printing and photography. Have a professional headshot taken for your promotional materials. It’s very important that you look professional, personable, and approachable.
Use People Finder Websites to Target Potential Clients
Marketing is always more effective when you personalize your marketing materials. Generic maildrops and emails are, more often than not, ignored. But if you cold call or leaflet drop using a person’s name and address, they are more likely to be receptive.
People finder websites are a mine of information. Research possible areas and use addresses to search for potential clients. If you gain a high-end client, find out who lives nearby and target them with a marketing campaign. People are more likely to use a realtor that their neighbors trusted with a sale or purchase.
Finally, be focussed on your career goals. It can take time to build up a high-end real estate business, but with the right mindset, anyone can do it. If you feel confident in your abilities and have a strong professional network, success will be yours.