Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
Breaking into the luxury real estate market can seem daunting, especially when you are just starting and your bank account isn’t quite where you’d like it to be. However, presenting yourself as a knowledgeable, polished and professional luxury agent does not require a vast budget. It’s about leveraging what you know, how you present yourself and the exceptional service you offer.
TAKE THE INMAN INTEL INDEX SURVEY FOR AUGUST
Here are some essential tips that cost little to nothing but can significantly elevate your positioning against the competition, even if you’re new to the game.
Knowledge and preparation
To exude confidence and competence, become an expert in all things luxury.
- Know the luxury elements: Understand what high-end features go into luxury homes, such as high-end paint brands, premium kitchen appliances, custom furniture and bespoke window coverings.
- Local expertise: Familiarize yourself with local builders, construction companies, architects and ongoing developments. This knowledge will set you apart and position you as an expert in the luxury market.
- Confidence through knowledge: The more you know, the more confident you will be. This confidence will naturally shine through and be recognized by your clients.
Professional appearance
Luxury clients expect professionalism, not necessarily luxury labels.
- Dressed for success: Look put together and professional without trying too hard. Wealthy clients don’t expect you to match their income level but do expect you to present yourself well.
- Smart shopping: Find influencers with styles that resonate with you and look for budget-friendly versions of their looks. Great places to shop include Target, Walmart and Amazon.
- Details matter: Accessories can make a significant difference. A stylish watch, for example, can convey that you value time, a crucial aspect of the luxury world.
Exceptional service
Luxury is not just about products; it’s about the experience.
Anticipate needs: Show clients that you care by anticipating their needs. This demonstrates that exceptional service is a core belief of yours.
- Parking preferences: Before you meet with a client, ask about preferred parking locations to avoid inconveniences.
- Be prepared: Have your presentations downloaded and ready to go, avoiding the need to ask for Wi-Fi passwords. Have a hotspot ready if needed.
Luxury marketing: Have vetted photographers, videographers and other assets ready to showcase your properties.
- Simple and elegant: Luxury marketing should be simple, elevated and elegant.
- Know the competition: Understand what your competitors offer, and be prepared to deliver more or something unique and personalized.
- Value proposition: Know your value, and lean into it confidently.
Authenticity
Faking it till you make it doesn’t work in luxury real estate.
- Honesty: If you don’t know something, don’t make it up. Be honest but not self-critical. Clients will appreciate your authenticity and responsibility.
- Ownership: Own any issues that arise. This will be the expectation, and handling it professionally will reinforce your luxury vibe.
Entering the luxury real estate market doesn’t require a luxury budget, just a strategic approach. By becoming knowledgeable, presenting yourself professionally, offering exceptional service, and being authentic, you can give off that luxe vibe and set yourself apart from the competition.
Remember, luxury is as much about the experience and service you provide as it is about the products themselves.
