Becoming a luxury real estate agent seems impossible without spending on expensive restaurants and hotels, right? But what if we told you that doesn’t have to be the case? Luxury real estate agents require three things—money, a license, and knowledge. But if you’re tight on budget, can you still make it with only a license and knowledge?
In fact, you don’t need that much money. Relax, we’re not breaking the bank here.
Below are the top seven ways that top-notch luxury agents use which you can also incorporate in your practice.
1. Build a luxury portfolio
To become a luxury real estate agent, you need a luxurious portfolio. How can you build it? The fastest and most effective way is to create a website.
Create a luxurious and sophisticated portfolio out of your website where you can showcase your work and expertise. Creating such an elegant portfolio can be really daunting, however it pays off in the long run.
2. Find your target luxury sellers and buyers
After having a luxury portfolio, it’s time to set out and find the targets. Browse the internet and identify your local high-net-worth sellers and buyers. Find where they usually hang out and be there. Strike a conversation and show them your luxurious portfolio. Offer them your hand and befriend them. Just remember, act like them, and be sure you don’t look desperate.
3. Aim for expired luxury listings
Since luxury homes take longer to sell than regular ones, many of them expire, and their prices fall. You can take advantage of this. In fact, this is what other luxury agents do.
Since luxury sellers and owners don’t have the time and effort to market their luxury properties, you can approach them and offer to do the task instead.
4. Learn what your luxury clients want and need
“What do they want and need?” Ask yourself this question, and put yourself into the “rich” shoes. Do they want big mansions with large pools?
Pro tip: Your luxury clients usually spend a fortune on their wants. So, when you market, you market with something tailored to their desires.
5. Adopt a “luxury life”
Having a luxurious life doesn’t mean spending $2,000 on a golden tomahawk steak exclusively prepared by Salt Bae. You can temporarily settle for less if you’re on a tight budget; even faking it will do.
You can upload your rented BMW car, borrowed Rolex watch, and fake gold chains online. You can also edit your way to a luxurious outing and travel using stock photos.
6. Leverage your luxuries
If you don’t want to fake and edit your luxurious life, creating one will suffice. If you’re living in a city, you can take stunning pictures of sophisticated infrastructure, luxury hotels, and well-designed houses.
Of course, you should include yourself in your pictures. Wear a tuxedo or something luxurious, pose like a model, and upload those pictures online. Just fake it but make sure you know the consequences.
7. Network yourself with other luxury agents
Who can help a luxury agent? Yes, a luxury agent also. Suppose you’re looking into becoming a luxury real estate agent, in that case, networking with already established luxury agents is necessary. High-end buyers will not take you seriously if you don’t have the network to prove your professionalism and capabilities.