Selling luxury real estate isn’t for the faint of heart. High-end, multi-million dollar listings take longer to sell, so you need a lot of patience as the listing agent.
Luxury real estate agents are goal-oriented planners with incredible perseverance. The long game isn’t for every real estate professional, but closing on a million-dollar listing pays off—big time.
If you’re interested in selling luxury real estate, take a look at these eight tips on how to sell luxury real estate below:
1. Adapt a luxurious brand image
Luxury real estate agents look the part. While staying true to yourself, you want to consider your business image. This includes your real estate website and branding materials, how you dress when meeting clients, extra amenities and perks you offer, and your listing marketing strategy.
Spend time researching other top luxury real estate agents in your market and beyond. You can begin adopting their aesthetic while creating your own unique luxury image.
2. Audit your brand
Whether you have built your real estate website and marketing materials or hired professional help, spend time conducting a full brand audit. If high-end clients are new territory, look for ways to bring the luxury lifestyle into your brand.
Make sure every page of your website is functional, provides essential information, and displays stunning real estate images of your previous listings. From there, analyze your logo and personal brand to ensure it appeals to high-end sellers.
Finally, start sharing on social media about local happenings such as golf tournaments, tennis matches, charity events, and special dining and shopping experiences.
3. Join the club
Immerse yourself in the world of your potential clients by joining in on their day-to-day activities. Is there a country club, a tennis club, or perhaps a luxury car enthusiast club?
Find what you genuinely have in common with your target audience and market, and be a part of it. The best relationships come from shared experiences and common interests.
4. Work and co-list with other luxury agents
When breaking into a new part of your industry, it’s important to learn from those who have gone before you. Take time to meet with luxury listing agents. Offer to take them out to lunch, and most importantly, offer to help with their workload.
This may look like co-listing for a fraction of the commission. Remember, you have to start somewhere and are guaranteed to learn a lot in the process.
5. Look for expired listings
Expired listings are more common in luxury real estate. The cost of the home is much higher, and the buyer pool is much smaller than average listings. However, this can benefit you as an up-and-coming agent. If an expired listing catches your eye, make a plan to sell it.
This is your time to pitch your expert services and selling strategies to the homeowner. They may be more receptive to trying something new after not selling during the first listing.
6. Hire a professional estate photographer
When selling luxury real estate, details are even more critical. Avoid the temptation of snapping a few pictures of a listing with your cell phone. It’s worth investing in professional real estate photography. Professional real estate photographers understand angles, composition, and light to showcase a home’s best features.
Again, there are upfront investments in selling luxury, but the payoff will be well worth it.
7. Work under a top luxury brokerage
You probably spent time selecting the right real estate brokerage to work under as an active real estate agent. However, now is the time to move up to a luxury brokerage.
A great brokerage will offer you several benefits for being on their team. These benefits include commission splits, a successful business model, and a great brand image. These benefits will help you tremendously if you get in with the right luxury group, carry their name, and learn from the best.
8. Think outside the box
What you’ve always done before won’t work in the luxury realm. Push yourself creatively when it comes to open houses, marketing, and pursuing leads. Your perseverance and new ideas will help you reach the clients you desire.
How Virtuance can help your luxury real estate listings
Luxury is all about quality. Let Virtuance help take your listings to the next level with our HDReal® images and marketing enhancements.
An excellent luxury listing should include high-definition photos, aerial photos, and 3D virtual tours. Our experienced photographers can help you offer your clients the most there is to see and capture luxury.
