How to get started in the business of selling luxury real estate?
Earning people’s trust and sourcing great properties.
1/ Earning people’s trust. This is always important when doing business but even more crucial in real estate for two reasons : properties can be really expensive and there are a lot of not so reputable developers.
Without trust, customers will think twice before dropping this kind of money. Actually, they won’t even drop a cent.
When looking for luxury real estate, we often hear what is a golden rule : “buy the seller”. It is therefore extremely important to earn a good reputation. This can be achieved by putting in some work! You can do it too, it’s a matter of months.
Be visible, share your knowledge, put your name on the map.
There are tons of places where you can share your real estate expertise and earn trust in return. Answer questions on Quora. Start a blog. Engage on Reddit, real estate forums, Facebook groups, LinkedIn groups. Make a YouTube channel. Start a podcast. The list never ends!
You should try them all and see which channel works best for you.
The key is to create outstanding content and share it effectively to your core audience. Get to know influencers in the luxury real estate industry, they can help you with that.
If you’re not passionate, don’t even start. You won’t be able to put in the required amount of work for crafting great content and you won’t understand your target audience which is exclusively constituted of passionate people. Who needs exclusive property if not a passionate real estate geek? :)
2/ Sourcing properties. This can be really tough. You need to find great properties, at a good price for you to make a commission. You must know the market enough so that you will be able to sell them quickly.
The worst thing would be to constitute an inventory of luxury properties that don’t attract any buyers. Luckily, if you have the expertise for creating great content, you probably know the luxury real estate market as well and know which areas are hot and what is their market price.
There are many places where you can find exclusive properties. Your network of real estate agents (start building one right now if you don’t have it already) but also Internet (there are literally thousands of website where properties are sold, both by professionals and individuals).
Finally, earning a reputation and sourcing luxury properties can be linked: the more you earn people’s trust as a real estate agent , the more likely they will offer you referrals for more sale as they know that you’re the man for that.
Funnily those are advices that I used myself without even realizing. I was sourcing a lot of exclusive properties either for me or people reaching out to me to help them finding their new home
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