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With home prices going through the roof over the last year or two, some of the homes we used to think of as mid-range are suddenly priced in the luxury category. What does that mean for agents who may suddenly find themselves working with buyers and sellers on homes that are pricier than any they’ve ever handled?
This week, we asked you: What instantly differentiates a luxury agent? Is it the car they drive? The ZIP code they serve? Is it the quality of their marketing or the look of their logo? Is it price point or just a certain ineffable je ne sais quoi? Here are your answers.
- Their knowledge of the market and the homes they serve
- The manner in which one conducts business. The ability to be totally professional in all aspects of the transaction
- Results and marketing
- I think it is the circles they run in. Wealth tends to pass agents from one to the other.
- Reputation and trust
- In NYC, our wealth is not readily apparent, because we don’t drive cars and most of us live in a high rise behind a doorman, so do I own a PH or a studio. When I work with a high-net-worth client, I admit, I am on my best behavior, although I try to give every client the same level of service. I will make sure that I am up on the financial news of the day if they work in finance. If they are in the arts, I will make sure that I can converse with them and let them know that I am aware of what they do, ask questions and let them talk about themselves without being noisy or invasive. If they are in the medical profession, I will share a positive experience and let them know how I appreciate what they do. With high net worth clients, it important to know the comps, be extremely knowledgeable about the neighborhood, restaurant tips, etc. What I learned very early on, don’t ask the owner of a hedge fund if he wants to take the subway downtown, hire a car and driver. Be on time, be casual, be respectful, but above all, just be yourself.
Join the conversation in the comments below.