Agent Tips for Selling Luxury Listings 

Do you want in on the luxury property and home gig? Does it seem like the same few agents always have the luxury listings? Well, we don’t blame you one bit. Not only do they yield higher price points and commissions, but they can be enjoyable to sell too. Here are some of our favorite tips for selling luxury listings and gaining the market share you deserve.

What is Considered a Luxury Listing? 

A luxury listing is any property that is above the rest in the location you are selling. These listings typically have high-end finishes, architectural design, and an overall feeling of elegance. Not to mention, they also make up a smaller portion of the listings for the area. 

Who Are the Clients for Luxury Listings? 

These are the folks who are influencing the rest of the world in one way or another. They are busy and desire efficiency. Also, they are looking for a lifestyle. It is your job to locate the lifestyle they desire. And when selling to a luxury client, you will be focusing on their wants instead of their needs. 

Therefore, knowing what your client does with their time is a bonus. Whether they wake up for yoga every morning or need land for a private plane airstrip, the agent’s job is to provide those details. 

Tips for Selling Those Luxury Listings. 

If you feel you are out of your league for the luxury listing market, you are not alone. Most luxury agents do not start with the wealth that allows them to play in this market. But we say, “fake it until you make it.” Furthermore, the most critical tip for placing your real estate knowledge and efforts in the luxury listing arena is to position yourself. And here are practical tips on how to do just that. 

1. Up Your Marketing Game: To attract the wealthy, one must look wealthy. Dressing the parts and using well-designed marketing products will help you get into their realm. You will want to promote luxury in all you do, from what you place on social media to your personal brand. Make luxury a part of all you know in the real estate and leisure markets. 
2. Focus on Your Photos, Videos, and Virtual Tours: Remember, the wealthy are very busy and want a quick and detailed look before they even begin to read about the property. When you get a luxury listing, you will want to showcase it in the best light possible. In this case, hiring a professional photographer/videographer is a must. 
3. Get Familiar with the Lingo: Most high-end customers have a different set of real estate concerns than the average buyer. Rather than appealing to terms like “saving money,” “school district proximity,” and the like, try other words. For instance, the wealthy are usually talking about legacy planning, asset privacy, and tax consequences. Research these terms and more in the high-end real estate market and know your stuff. 
4. Find the Local Influencers: The Caribbean Islands are known for their celebrity traffic. It is not hard to find out approximately where they live and play. Identify these areas and research the market there. Really get to know these communities and focus on selling a few smaller properties there. Then, as you get your name out there, you can casually strike up a conversation with the celebs and influencers when you know large luxury pieces are being listed. 
5. Get Involved with What the Wealthy Deem Important: If a specific group of celebs sees you event after event volunteering your time in a charity they care about, bonus! Now you have created an opportunity for conversation and helped out with a charity. 
6. When You Can’t Beat Them, Join Them: What are the local wealthy into? Do they all leave the islands to go skiing in winter? Perhaps the islands with the best golf are where they all congregate. From pets to art and sports, get to know about the hobbies of the rich and famous. Then you may even want to take up one of these hobbies in your area, hoping to bump into the influencer you want to make your next client. 
7. Find the Homes That Have Timed-Out in the Real Estate Market: If a home has expired on the market, go after that one and see if you can present a new slant on the house. Find out what worked and what did not. Change it up, then pitch your innovative ideas to the current owner. 

Finally, it would help if you remembered that a luxury listing takes more time and patience than a less expensive home. Keep at it and always continue to learn more about the area, listing, and luxury listing market. 

CITED: forbes.com, theclose.com, moving.com