Luxury real estate agents can be recognized by their peers and profession, but the most important critic will always be their client. As far as the general public is concerned, a luxury real estate agent is as good as the review from the last transaction.
Therefore, it is essential to do the best for every client. That starts with knowing what buyers and sellers expect from this professional relationship. Here are 10 things you should know about luxury real estate clients to be successful.
What clients want from their luxury real estate agent
- They need expert knowledge of high-end real estate and insight about this specific market.
- Upscale clients want agents to understand their luxurious lifestyle and show a sincere interest in helping them achieve their dream.
- Privacy is a big deal to high-end buyers and sellers. They seek it out in their homes. In addition, they expect luxury real estate agents to respect their privacy.
- Upscale clients believe that their time matters, and they hope that their real estate agents will also take that into consideration.
- Just like in their other business dealings, luxury clients will initiate a “due diligence” approach to hiring luxury real estate agents. If not respected in their community or by a professional organization, then they will not succeed in the business of luxury real estate.
- As well, the better an agent’s affiliates, the greater chance of been accepted by upscale clients.
- Also, the wider an agent’s network, the more impressed a luxury client will be with their professional profile. Modern clients expect luxury real estate agents to have a global network at their fingertips.
- Luxury clients take the business of buying and selling upscale property seriously, but they do not want a stressful experience. Expert luxury real estate agents provide a stress-free transaction for clients. Of course, challenges will arise, but an efficient agent knows how to handle situations and minimize the effect on the consumer.
- High-end clients know that buying or selling a home requires a team effort. They value the services of their luxury real estate agent. According to the Luxury Portfolio report, The Emerging Class of Global Affluent, 68 percent of affluent homebuyers believe that an agent’s services are worth the price.
- Leading luxury real estate agents prove to be worthy of that trust — and much more. They go above and beyond and give 100 percent of their professional skills to help upscale clients.
How to keep the lead in a world of luxury
It will take monumental effort, however, to stay at the top of the luxury real estate sector. Contemporary agents aren’t just warding off competition from other professionals. They also have to persuade clients not to go it on their own. The reality is that many modern consumers follow this route.
Of course, that is the worst option for a buyer or seller. Yet with people traveling more and using the internet for expanded purposes, consumers are making connections and contacts around the world. As well, they check out global internet portals. In other words, today’s agents have to deal with consumers without borders.
A top luxury real estate agent knows how to attract and keep upscale clients. It’s simply a matter of showing them that you’re worth it.
Kevin M. Leonard is the founder of Luxury Agent and Valore Group. You can follow him on Twitter or LinkedIn.
