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Miami Beach Realtors: So you want to enter the Luxury Home Market
Entering this high end luxury of the real estate business Miami Beach Realtors need to concentrate on two items: Service and Competence followed by a sophisticated marketing plan. To woo these affluent buyers and sellers agents need to know a few things about doing business with them.
Affluent clients care about price: value equation than about the price alone. This means these types of affluent clients do not mind paying a premium for products and services you have to offer. With this in mind, Realtors who are seeking such clients need to really differentiate themselves and be really unique compared to their fellow Realtors are also targeting the business of the wealthy. Once you have proven yourself and the services you can offer that others cannot, then you negotiating your professional fee will not be an issue.
The wealthy client has grasped the idea of the internet and what it can do for them. Using the internet is becoming a lead generation and Marketing tool for Real Estate agents to reach such clients. One needs to have a system in place to capture these leads and managing the leads along a strategy for marketing and promoting your listings.
Remember that wealthy clients are smart and will study the market and also do their homework. They will even interview other realtors who will be vying for their business and to become their Realtor. So be prepared and do your homework. The affluent client expects you to be a wealth of resource for them for market statistics and information about the real estate industry.
Remember, you are helping the affluent client with a luxurious life style choice. You are assisting them with this pleasurable experience of dining, driving and more. The home they choose is a life style and you have to be aware of this life style. Also, your marketing efforts should influence you and how you market the properties. Having a party to sell the house is an effective marketing tool because your are pointing out the life style of the home you are marketing. These types of intimate gatherings are being used more and more in much pricier properties and create a buzz in the market area you are working in and targeting.
The Affluent are striving to be a connoisseur of sorts. How can you tell a good wine, a great steak and recognize a handmade suit. They want to be able to identify and appreciate quality. Here is where we the Realtor need to know product knowledge and how it is important. We need to know the top of the line appliances and fixtures, top notch finishes and what adds value to a luxury home. To be luxury home specialist you need to know fine homes and how to market these luxuries properties to be credible in their eyes.
Finally, one needs to understand the motivation of affluent buyers and sellers including their attitudes and how to meet their expectations and needs. We are selling a dream of living a life style worth living. Many spend to be in this prestigious affluent group which define this segment of life style. Spending to some means and signifies power and to others it's a self worth and a reward for all the hard work to get into their current position and status within their affluent group. Even some say wealth signifies an achievement and prowess. But as Realtors, we are there to help to assist wealthy in gaining their dream and lifestyle living.