One of the first things new agents do when they get their license is create their brand. They decide the look of marketing items such as their business cards, website, email signatures, signs, sign riders, etc. They have nearly full control over what they choose to call themselves. They can, even in their first week of business, even call themselves a ‘luxury’ real estate agent.
There’s no requirement for the label. There are no extra courses to take or designation tests to pass. You can be a luxury agent just because you say so.
That my friends, is where being a luxury agent begins and for 95% of agents, where it ends.
Harder Than It Looks
It’s true you can call yourself a luxury agent if you want, but the test is out there in the real world where agents live and die. When you call yourself a luxury agent, you better actually be one.
Exclusive clients are elusive. They don’t run around open houses nor are you likely to find them at the local PTA. These clients have clubs with members, and if you want to be in front of them, you better be a member too. That, however, is just the beginning.
Quack Like a Duck
Let’s say, our baby agent got lucky, was a member of some club that landed them in front of a possible luxury client. This fledgling has just stuck his or her neck out in front a very savvy person. Savvy people don’t just practice owning real estate or investing in it. They live for the win.
They don’t make moves without the potential for an ROI. That includes the return on investment of the time they’ve taken to speak to this agent, so the advice this agent gives better be spot-on.
Never Get a Second Chance
There our hero sits, across from their first luxury client and the clock is ticking.
Did they do their research? Do they know this client or the niche this client represents? Are they confident the advice they’re giving is soluble, credible and accurate?
They better be sure. They better be absolutely sure.
When working in the luxury market there is no second chance at a first impression. One bad meeting in the beginning of a career can be a huge detriment to the reputation that our agent is attempting to build.
The Road ‘MORE’ Traveled
A smarter course of action for this agent would be to start as an apprentice with a seasoned luxury professional who’s built a successful agency. Learning the systems and strategies of a reputable agent while building his or her own reputation is a much smarter strategy for success.
It’s a win-win for both the agents and the clients. Successful agents to the ultra-rich focus on the details, become experts on each property and the surrounding communities, learn about each potential client and listen for – and quickly respond to – each client’s questions and concerns.
Handling that level of competency with fineness takes skill, practice, a certain personality type and time.
Success on this level is quite a bit more involved than slapping the words ‘luxury agent’ on a logo and calling it a day. When working in this world, the rest will not just ‘fall into place’.