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Tips on Breaking Into the Luxury Market
So, you’ve been doing residential real estate for a while and you’re looking to up your game. A lot of people consider going into the luxury market at that point. Or, maybe you started in the business always intending to specialize in luxury properties and were just learning the ropes before you tackled one of the industry’s most lucrative specialties.
No matter the reason, the luxury market is a whole new ballgame and you don’t want to go into it unprepared. First impressions are everything in this business, especially when you’re dealing with wealthy clients and investors. Here are few things to consider if you’re thinking of going from starter homes to estates.
LEARN HOW THE LUXURY MARKET AND CLIENTELE ARE DIFFERENT
As experienced as you might be in traditional real estate, the luxury market is almost like starting at ground zero. Everything from the buyers, to the sellers, and obviously, the properties themselves, will take a new approach. One of the key ways it is different is that the feeling of exclusivity truly matters. You will be doing more targeted marketing through high-end networking groups as wealthier clients tend to be more comfortable when
you come recommended by people they trust to have the highest standards. There are no mass-marketed open houses. It’s all about private showings. Although professional, one-on-one service is key in this business no matter what the price point, wealthier buyers are accustomed to concierge-style service, and the way to stand out from the rest is to provide service that goes above and beyond what even they expect.
LOOK THE PART
If you’re thinking of going the luxury route, creating high-end branding and marketing yourself properly is of the utmost importance. That includes your own personal look. You and your business will need a total makeover, or at least a major upgrade. It might even be time to buy that new car you’ve always wanted. It is also key that all of your marketing materials are high end. So start gathering a stable of highly-trained professionals,
photographers, and stagers as every aspect of the service network you’ll be providing complements the brand that you’re selling. It’s well worth the time to get all of this nailed down and seamless before you even think of entering the luxury market. Another good investment? You want to have an indepth knowledge of all the latest real estate technologies and innovations. Don’t just look the part, actually be on the cutting edge.
SELL THE LIFESTYLE
Yes, you’re selling a home, but you’re also selling a lifestyle, which in luxury is almost more important. When someone is spending millions of dollars on a home, they want to see the fabulous life they will be living in their new digs. Really highlight amazing party spaces, unique one of kind features,
and amenities. As with anything of value, things that make a property rare, will automatically make it more appealing to people who can afford the best. It also helps people connect more emotionally with a home, giving it even more value than if you just try and sell it as a good investment.
NETWORKING, NETWORKING, NETWORKING
Networking is an important aspect of this business at every level, but it a vital tool in the luxury market. Most of your referrals and targeted marketing will be done through luxury agent exclusive networking groups. In addition to that, it is even more important in this segment of the business to be actively
involved in your community through volunteering and supporting local charitable events. You will not only build a stellar reputation, but you’ll also be giving back to the community you represent, and ultimately, integrity is what it’s all about in this business.
AGENT STRATEGIES TO GROW YOUR SOCIAL MEDIA PRESENCE
In real estate, where connections and maintaining relationships with clients are crucial, having a strong social media presence is essential for any REALTOR®. A wellcrafted agent profile on social platforms can not only showcase your expertise but
also help you connect with a wider audience, build trust, and ultimately grow your business. Here are some comprehensive agent-profile tips to elevate your social media presence and establish a strong online persona:
1CREATE AN ENGAGING AND INFORMATIVE BIO
Your bio should introduce you as a real estate expert and spotlight your specialties, service areas, and what makes you unique. Include relevant keywords so you will rank high in a Google search.
2 HAVE A PROFESSIONAL APPEARANCE IN PROFILE PICTURES
It’s important to have a clear, high-definition photo of yourself. You should look professional, but at the same time approachable. Wear clothes that align with your brand, and keep the background simple.
3 SHOW OFF YOUR ACHIEVEMENTS
Share your professional success, accomplishments, accreditations, and awards. This will enhance your credibility and make you appealing to potential clients. Those who visit your social media site will know you’re an expert.
4 MAINTAIN A PERSONAL CONNECTION THROUGH POSTS
Buying and selling real estate is a highly personal experience. It’s vital that you showcase your personality and relatability. Clients want to work with someone who they feel comfortable with. Incorporate your hobbies, personal anecdotes, and interests in your posts.
5 HIGHLIGHT YOUR COMMUNITY WORK
Whether you’re sponsoring an event, volunteering, or supporting local businesses, it’s beneficial to show your followers that you care for your community. It will help portray a positive brand image, and demonstrate a dedication to the areas you serve as a REALTOR®.
6 CREATE CONTENT THAT CAPTIVATES
Produce varied and interesting content, balancing listings with insights into the market, news, and tips for buyers or sellers. This will keep your followers engaged and help solidify your status as a top expert in the field.
7 ENGAGE FOLLOWERS
When people comment or message you, it’s important to respond. It’s also great to get conversations going on your social media pages by posing questions with your posts, running polls, or asking for opinions.
8 KEEP TO A SCHEDULE
Post regularly on social media, at times when your audience is most active. This will ensure your posts are being seen by the largest audience possible. And when your followers know when to expect your posts, they will remember to check it out.
9
POST BEHIND THE SCENES INSIGHTS
Offer a look into your everyday life in the real estate world, including preparing for open houses, client meetings, or your office setup. Maintaining an authentic presence will help you connect to your followers.
10 DON’T FORGET ABOUT STORIES AND REELS
Take advantage of Instagram and Facebook’s Stories and Reels. This is where you can post more spontaneous and creative content. Some of the highest engagement on social media happens on these platforms.
11STRATEGIC HASHTAG USE
Use hashtags that are relevant to what you’re posting. You can even create your own hashtag that reflects your brand. When you use a mix of the two, you’ll reach a larger audience.
12 COLLABORATE WITH PEERS
Don’t be afraid to partner up with local businesses, industry influencers, and other professionals. You can cross-promote content and create content together. This will introduce you and your brand to new audiences.
13 CREATE EDUCATIONAL CONTENT
Establish yourself as an expert by sharing knowledge about the real estate market,
process, or regulatory changes. Educating your audience not only demonstrates your expertise but also provides them with valuable information.
14 POST CLIENT FEEDBACK
Feature positive feedback from satisfied clients. Testimonials build trust and provide social proof of your skills and commitment to client satisfaction. Consider creating visually appealing graphics or dedicated posts to showcase these testimonials.
15 QUALITY VISUALS ARE KEY
Invest in high-quality visuals for your posts. Clear and appealing images are crucial in the real estate industry, whether you’re showcasing a property, sharing a personal story, or promoting your services. Professional visuals make a significant impact on social media platforms.
Remember, building a strong social media presence is an ongoing process that requires a blend of creativity, consistency, and genuine engagement. Regularly assess your analytics to understand what resonates with your audience, and adjust your strategy accordingly. By incorporating these agent-profile tips, you can effectively grow your social media presence, establish a meaningful connection with your current and potential clients, and differentiate yourself in the competitive real estate landscape.
ARTUR ISRAYELYAN
“I focus on perfecting the simple things in my business, which include, honesty, hard work and availability for my clients. People can sense when you are genuine and will seek you out if they know you are in their corner.”
Artur Israyelyan of Los Angeles, CA combines his entrepreneurial spirit with an unwavering work ethic, which ultimately drives his thriving real estate business. “I focus on perfecting the simple things in my business, which include, honesty, hard work and availability for
my clients. People can sense when you are genuine and will seek you out if they know you are in their corner.”
Artur has launched several successful business ventures in his career, including in the areas of logistics, automotive
accessories, dental supply, parking management and transportation. “As a business owner, I am fortunate to have been exposed to people from so many different walks of life”, he recalls. “It has taught me to provide everyone
I meet with the same level of quality, expertise and professionalism which are the foundations of my business.”
After selling his other business interests, Artur leveraged his strong communication
As an agent with Beverly and Company, Artur serves the greater Los Angeles market including some of its most prominent and affluent neighborhoods, including Beverly Hills, Bel Air and Malibu.
skills, elite business acumen and natural sales ability into the real estate industry. As an agent with Beverly and Company, Artur serves the greater Los Angeles market including some of its most prominent and affluent neighborhoods, including Beverly Hills, Bel Air and Malibu. “I have experienced challenges and hardship in my life, which have taught me to persevere and succeed where others have failed”. Artur combines an extensive digital marketing program along with the triedand-true methods of direct mail and door knocking. Utilizing this multi-faceted approach allows him to reach a wide and diverse audience of prospects, including buyers, sellers and investors. His business model more closely resembles a family doctor who makes house
calls for his patients rather than that of a traveling salesman.
When he has free time, Artur enjoys horseback riding, race car driving and spending quality time with his family and friends. He is also deeply involved
and committed to his local community, working diligently to enhance educational and recreational opportunities for those in his neighborhood.
With the ever-changing landscape of the real estate industry, Artur is always sure
“Constantly surrounding myself with positive and knowledgeable people assists me greatly in pursuing my goal of becoming the #1 agent in my market as well as in the entire state of California.”
Reconsider Referral-Only When Planning for the Future
A 100% referral rate is a testament of client happiness. But even a 30% referral rate is proof of client satisfaction. It’s all relative, say some agents. One number pays tribute to past success, which is certainly a story worth telling. But the other might better predict the future. Many agents plan for the idea that
working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector.
Unless you are clairvoyant enough to flawlessly predict every market change or every
Many agents plan for the idea that working only on referral may not be sufficient during slower times of the year, in a down market, or when an agent needs to expanding into a new sector.
life change that your clients and referral partners may experience, it’s wise to maintain an active marketing presence. The reasons vary, however, depending on the goals and trajectory of each individual’s business.
If long-term success, a growing team, a legacy or expansion into new areas are not priorities, then working a sphere of influence may be enough for some agents, especially those who may be in the industry mostly for the love of the business. But for a majority of agents, no matter how much they love their work, their real estate and mortgage businesses are careers, first and foremost.
Let’s start with the team-builders and mentors. Agents and brokers who are building teams are wise to invest in business marketing, advertising and community outreach. Ty Hutchins, who owns and operates Ty & Company Real Estate in Colorado’s Front Range, says that, while she could personally live off referrals alone, her goal is to build up her agents. “I do the marketing piece for my team, so I can help them succeed,” she says. That marketing includes running commercials on TV and in movies theatres, as well as lead generation that identifies potential buyers, sellers and
investors between the Colorado Springs and Denver markets. Her team’s goal, she adds, is to promote their reputation of being honest, hardworking professionals with the reach of a major brand but the personalized approach of a boutique.
Then there are the growers. Khrista Jarvis and Nicole Jung of The Khrista Jarvis Team in the San Francisco Bay Area, are on a considerable growth track. “We’re the #1 team in our area and the top team in Compass Real Estate nationally,” explains Khrista. While high marks for service on behalf of their clients have led them to these heights, they know that they must continue to evolve and market their brand. “We do a good deal of social media marketing for our listings and for our business,” she says. Their names, therefore, are frequently linked to sentiments of trust, dependability and market knowledge, both in their marketing and in their reviews.
Next, there are those who weathered the worst of times. Susan Roche entered real estate sales in 2003, following several years of property management in North Carolina. The key to her sustained triumphs through major market swings lies in her long-range planning. “If the market starts to dip or fall,
I have safety nets in place,” says Susan Roche, team leader of Simply Real Estate, based in Charlotte. “When it’s a seller’s market, I still plan for a buyer’s market and when it’s a buyer’s market I plan for a seller’s market..” In other words, no matter how comfortable her existing work may feel, she networks consistently. She also employs a full-time marketing director who leads several projects including ongoing research, events and social media exposure in addition to listings marketing. By staying ahead of market changes, Susan knows she can unfailingly represent her clients’ best interests while still maintaining a safety net for her business.
Even professionals with more than three decades’ experience and deep referral networks know the importance of business
marketing. Cathy Richards, co-owner with Nancy Dalaska of Epic-Wasatch Homes in Park City, UT, entered real estate in 1987 and still draws at least a fifth of her business from lead generation, social media marketing and community outreach. Her business partner, Nancy, adds that real estate is about much more than their own business. “We love collaborating and brainstorming with other agents to help them prosper,” says Nancy. “We believe the healthier the market, the better we all are.”
Regardless of market conditions, even the best reputation can’t guarantee long-term success. To sustain and grow, it’s wise to feed your business by increasing exposure, remaining flexible and maintaining systems for customer service, networking, research, marketing and lead-generation.
Laughs!
5 BUSINESS LESSONS I LEARNED FROM MY DOG
Applying these key lessons to your business can lead to an increase in productivity, creativity, and resilience.
Our furry friends bring immense joy to our lives. Their ability to project love and happiness into the world helps us feel calm. They seem to live entirely in the moment, which is something we
can learn from as humans. We can take it a step further and analyze how their behavior could be emulated in our own lives, particularly when it comes to business.
While there are certain dog characteristics we don’t want to replicate as humans (you can probably name quite a few), there are several that could lead to an increase in productivity. In this article, we’ve gathered five of the best lessons to be learned from dogs. Each one has its strengths, and applying these lessons to your work will undoubtedly lead to an improved way of doing business.
As we look into the specific lessons dogs teach us, keep in mind how their instinctual behaviors can make us not only better colleagues but also more adaptive and resilient professionals.
Here are the five valuable lessons dogs have taught us about business:
1CLEAR AND FREQUENT COMMUNICATION
Dogs are always communicating. Though their communication may not be as clear to us if we aren’t familiar with their behavior, their messages come in bright as day to the dogs around them. If you’ve ever taken a dog to a dog park, you will see what we’re saying. A bow towards the ground with a tail wag means, “I’m ready to play!” while a tucked tail, cowering stance and whimpering means, “I’m scared!” The dogs who send these messages are hoping for a response in the dog they’re communicating with, whether it’s to engage in play or leave them alone. The dogs who observe these behaviors instinctively know what they mean. Though they might not always respect what the
other dog is saying, the message rarely gets misconstrued.
We can take this lesson into our business lives by remembering the importance of clear and frequent communication. We have a lot more to say than dogs, so it’s even more vital that we are upfront with what we’re thinking and feeling. We can’t expect a person to respond if we don’t engage. And just like dogs do, we should be prioritizing open communication through both verbal and nonverbal cues to maintain coherence and clarity.
2
EMBRACE REGULAR OUTDOOR TIME
If you’ve ever tried to work alongside your dog, you know they can be quite demanding when it comes to breaks. Dogs want to spend as much time as possible being outside, and they’ll let you know if it’s been too long since they’ve felt fresh air. Animals crave being outdoors. Let’s not forget that humans are animals, too. It’s quite unnatural for us to sit behind a computer for 8+ hours a day, so we have to remember to take breaks throughout the day.
Set a timer on your phone to remind yourself to get up and stretch. When you have a longer break, take a moment to step
outside, even if the weather is bad. A deep breath or two in the outdoors will help you reset. Once you return to work, you’ll feel refreshed and ready to be productive.
3 FIND THE REWARDS IN LEARNING
Most dogs want to learn because it makes us happy. Some need to be bribed with treats or play time. No matter the dog’s age, though, they are generally receptive to learning new things. Training a dog to do tricks or have manners provides them with enrichment and rewards. Dogs tend to learn quickly, and they never seem to forget the things they’re taught.
As humans, we can apply this to our own lives by always seeking out learning opportunities. While we might not be rewarded with treats, we will be rewarded with knowledge, and we can use that to improve our business, make more money, and work more efficiently.
4 PRIORITIZE MAKING A GOOD FIRST IMPRESSION
Most dogs love humans and other animals. When they first come across someone they’ve never met before, you’ll see them exhibit quite a variety of positive behaviors in an effort to bond with their new friend. They might wag their tail and bring them one of their toys, offer a paw to hold, roll over, or give them a thorough, kind sniff. All of these actions seem to say, “I’m a good dog, you can trust me.”
People should attempt to say the same thing when they first meet someone, especially when it comes to business. Gaining trust is a key aspect of becoming successful as an entrepreneur, so showing others your open, happy, and accepting side will make a lasting impression. A smile, handshake, and light, positive conversation goes a long way.
5 REMAIN ALERT AND ADAPTIVE
Though dogs do love socializing and meeting new creatures, they also have a protective nature, meant to keep them and their pack safe. You can see this behavior play out when the doorbell rings or a stranger walks by your house. They will bark loudly, alerting you that something is happening. If you inspect the danger and tell them nothing is wrong, they eventually adapt their behavior, going back to what they were doing prior. When everything seems peaceful, they are always keeping their nose, ears, and eyes on high alert, waiting for anything out of the ordinary to happen.
We can implement this lesson by continually looking out for inconsistencies, and staying in touch with our instincts. If something in your work seems wrong, look into why that is, and adapt accordingly. In business, it’s important to stay in tune to what is happening, so we can keep up with changes and refine our strategies. Change is inevitable, and being open to that will help us reach new levels of growth.
The wisdom imparted by our canine friends supplies us with endless inspiration for our professional lives. The lessons they teach us, such as clear communication, the importance of breaks, continuous learning, making positive first impressions, and remaining adaptive, are essential for success in today’s business environment. By utilizing these principles, we not only enhance our productivity and creativity but also foster an atmosphere of resilience and mutual respect in the workplace.
