Real estate is an industry that one can advance quickly and can climb very high in if they are dedicated and apply their knowledge. Becoming a luxury real estate agent is a dream for many beginning agents as well as those that have been in the field for some time. The real question however is, what does it take to become a luxury agent?

What is A Luxury Real Estate Agent?

Before you start dreaming of the day that you will be a luxury agent, it is helpful to first understand what a luxury real estate agent is. A luxury agent is someone that does not deal in typical homes, instead, they deal mainly in the luxury market. That is to say, homes and properties that average in the millions of dollars in value. These agents may also deal in vacation homes overseas or in exotic locations, and specialty properties that average agents do not have access to. These agents are going to be high power, high drive, and very busy. Agents that are classified as luxury agents are going to make far more on commission on one sale than an average agent might make all year.

How to Become A Luxury Agent

So becoming a luxury agent is as easy as taking multi-million dollar listing and going with it right? Wrong. Becoming a luxury agent has nuances and tips that will help you break into the market and gain the trust of your sellers and potential buyers. The first step is to learn the game. You need to be well versed in the market, well versed in what being a luxury agent entails, and well versed in how to make the most of your sales. If you have no experience in real estate you need to start there in order to avoid potential lawsuits and other issues.

The next step is to take the time to look like a luxury agent. You can have the best listing in the world but if you look like you just rolled out of bed, odds are buyers and sellers alike are not going to have much faith in you. You need to do a few things. First, pay for luxury branding, this means expensive looking business cards, top of the line advertising and a website that lets everyone know you know what you are doing. You should also take the time to dress the part with luxury clothes that make you look like a success.

You should also be able to use the latest technology in the business. Using things like apps, websites, electronic signature software, and showing feedback software can all make you look like you are at the top of your game which will help drive buyers and sellers alike to you. Interactive yard signs are also a great addition to your arsenal as well as cloud document storage and the latest gadgets can all let your buyers and sellers know that you are a success and that you are evolving with the times.

Still another thing to consider is your listing presentation. Your listing is going to show others that you are not just another person that sells houses. Pay for the extra luxurious branding and listing packages, take the time to memorize your presentation and encourage others to join in on your presentation so that you can make your potential buyers feel welcome and important.

Lastly, you need to take the time to make sure that your follow up game is on point. Make sure you are taking the time to send out emails, take phone calls, and stay in touch with both potential buyers and sellers so that you can assure them you are doing all you can to get their sale off the ground. Your customers are your biggest asset and can help send you from a one luxury property agent to a multi property agent that has the experience and the gusto that it takes to be a real luxury agent.

Why Bother Becoming a Luxury Agent?

Aside from higher commissions, being a luxury agent comes with a certain something that really makes your reputation. Having luxury listings can help you get tons of points when it comes to your reputation and your brand prestige as well. Having luxury listings and being a luxury agent are two different things. If you really want to be the luxury agent of your dreams, you have to be willing to play the part and truly work for what you want.

With hard work and dedication anyone, even starting agents, can become luxury listing agents and can really break into the industry and become something more. Luxury agents have the prestige to snag celebrity clients, are often invited to luxe industry events, and are even part of a special circle that reflects your hard work and dedication making for an end result that is well worth the work and well worth the struggle.

  • Fambai

    Well explained, I want to be one of the recognized Luxury RE agents.

    • Shahla Jalali

      The rewards of becoming a Luxury agent, especially one of the top Luxury agents, can be amazing. It does take strategy to get to only get to that point, to stay one of the top agents in the luxury market. Branding, marketing, and networking all play important roles. If you’re aspiring to become a luxury agent, you can aim to try to keep working with higher (or double, if possible) priced homes until you break into the luxury market. Keep in mind that GREL has it’s own formula when determining what a luxury home price is. The common perception is homes that are valued at $1 million or more are considered luxury. However, the formula we use in our online training consists of a more accurate way to classify what is a luxury home is to take an average price of a home in a particular market and triple it. This formula can be used in any market. There’s a lot of resources GREL provided for free to help that you can take advantage of. If you need help to locate some specific material, feel free to reach out to us.