What It Takes to Be Successful in the Luxury Real Estate Market

Everyone wants to get into the luxury market but often times you don’t realize what it takes to really be successful in the luxury space.

Are you willing to go where the lux market is?
What I mean is this market requires attending charity events, galas, country clubs, etc. It’s not cheap to participate in these functions.

“There’s no champagne vacations on a beer budget in the luxury market.”

What I think you’re actually asking is how do you up your average sales price. And here’s what I would do if I wanted to increase my average sales price.

Create Relationships with Business People

Business people know other business people. And business people know other people who have money. And if they have money, they have a higher sales price.

I would put my money in a business bank and talk to people at the business banks. It’s a fantastic way to network because business banks’ customer base is other businesses!

You have to join the country clubs. You have to rub elbows with the big wigs.

Your 24-Month Plan

Continue doing what you are doing with your normal clientele. Don’t neglect that business. However, make a 24-month plan to diversify your normal business and try to get into the luxury market. You plan should include the steps you need to take to build a really good vendor network and joining a business bank.

You have to be where the business owners are. That’s where you are going to find luxury buyers and sellers. At the very least, you are going to find people who have a higher sales price… which will ultimately lead you to the luxury market.