You’d be hard-pressed to find an agent that doesn’t like the concept of working in high-end, luxury real estate. Because such agents are paid on commission, higher net sales result in higher salaries, which is naturally attractive to those working in the industry. That being said, leaping into luxury real estate is easier said than done.
Here are some steps you can take to enter the luxury real estate market:
Give it Your All
If you’re not hustling on every deal you come across, you’re doing something wrong. One can’t possibly know which deals will lead to high commissions and which won’t, or more importantly, which will lead to high-quality relationships. It’s for this reason that agents looking to enter the luxury real estate market need to perform on the highest level in every deal that comes their way.
Pitching to Luxury Firms
They can’t say no if you don’t ask. This simple piece of advice can be applied to a number of professions, and real estate is most definitely one of them. Any budding real estate agent that wants to work for high-end firms will need to ask to do so, regardless of how uncomfortable it may be. Brokerages are always on the hunt for talent, and so long as there’s a need for what you have to offer, you have a shot at getting what you’re looking for.
Shout it From the Rooftops
Everyone is involved in real estate in some way, and you’d be amazed at the types of deals that have resulted from simple small talk. Make sure people are aware that you’re a real estate agent, and ease the topic into conversation by sharing compelling experiences you’ve had on the job.
Understand Foreign Cultures
In an ideal scenario, some of your referral partners will be based outside of the U.S. If you want to keep a pipeline of international buyers flowing, you’ll need to familiarize yourself with foreign cultures and the way they conduct themselves.
Industry Conference Schmoozing
One of the best ways to forge lasting partnerships with agents in the real estate market is to help other agents form their own relationships. By serving as a connector, you’re significantly more likely to help build up your own network, and there’s no better place to do so than in industry conferences.