Luxury Prospecting - My Cab Corner

Mindset & Networking

To be a long term luxury agent, you must be a part of that community, you must be a part of those social gatherings, and you must know your stuff.

The luxury market is a tight knit community and wants you involved in the community, swimming with the same people, involved in the same activities, friends with the same people, etc.

Throw away the stigma associated with selling a luxury priced home! If you can sell a $200,000 house, you can sell a $2M house!

Create that trust factor! Talking the talk and walking the walk involves a long-term approach. It may take a couple years before those relationships and access really starts bearing fruit.

The single most important factor is getting out and doing it. Just jump in head first and then learn how to swim. You’re going to fail, you’re going to screw up, that’s how you get better. You miss 100% of the shots you don’t take. So, do it. Go after the luxury market!

KNOW YOUR STUFF! Know your market, who lives there, what has sold, what has sat on the market, etc. because the details and property information is exaggerated.

networking preview image

Networking In The Luxury Niche

The luxury market is a tight knit community. The luxury community wants you involved in the community, swimming with the same people, involved in the same activities, friends with the same people, etc. Once that trust factor is there, you’re in the inner circle. The best way I can relate it is being a part of a club. Talking the talk and walking the walk involves a long-term approach.

In order to really cement yourself amongst the luxury niche, one must think long-term. The luxury market and its clientele is not short term. It may take a couple years before those relationships and access really starts bearing fruit. There is a large stigma associated with selling a luxury priced home, throw that away. The process is not all that much different. Fear of entering the market isn’t going to get you anywhere. If you can sell a $200,000 house, you can sell a $2M house. The biggest divider on providing value in a luxury home scenario is really knowing your stuff. Know your market, know who lives there, know what has sold, what has sat on the market, etc. Which view orientation on a waterfront home brings the highest price? Why does one street in a luxury neighborhood go for more money? Truly understanding the client’s needs in luxury is essential. Reason being is that in the luxury market, the details and property information is exaggerated.

Odds are, there is a reason your client or potential client has made it to the luxury price point. I’d say the single most important factor is getting out and doing it. Just jump in head first and then learn how to swim. You’re going to fail, you’re going to screw up, that’s how you get better. Be sure to be a constant sponge and learn from the best. Learning every day is essential. To be a long term luxury agent, you must be a part of that community, you must be a part of those social gatherings, and you must know your stuff. Like I said, it’s long term. You miss 100% of the shots you don’t take. So, do it. Go after the luxury market!

So how do I get started?

In order to really break into the luxury market, you must be where the luxury clientele is. Go to charity events, go to community events, or volunteer in the community (even if you don’t live in it)! If you can afford to do so, get a country club or yacht club membership. The bottom line is that you’re not going to break into luxury until you start meeting and having conversations with luxury folks.

Get Creative:

Ideas on how to meet and network with the affluent luxury consumer

You’re going to need to get creative with how you might meet a luxury client.

WHERE DO THEY GO?

Go to their coffee shops, restaurants, etc. You can even ask current luxury agents in your office if you can host an open house for them.

WHAT ARE YOUR HOBBIES?

If you love sports, then you can go coach a youth soccer team in the luxury community. If you enjoy golf, join the country club. If you’re into fitness, join a gym with luxury clientele. The ideas are endless!

KNOW THE COMMUNITY!

Go to the town hall meetings and find out what is going on in that community. The more you know about the community and the more people you get to know, the faster it all comes together.

WHY?

Developing the relationship is by far the most important factor. It is exaggerated in the luxury market, the luxury clientele only does work with people they know and trust and who are in their inner circle.