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Archive for Ideal Clients

The “Superpowers” of Luxury Real Estate Agents

Today, we are featuring a guest post from Jessica Rosato, a Luxury Broker Associate at Nestler Poletto Sotheby’s International Realty!

Superhero powers of luxury agents

In the luxury market, you’re not only selling a home — you’re selling a lifestyle. Finding a property where the buyer’s style and taste unite with the perfect location is priceless.

As a luxury residential specialist, we pride ourselves on artfully uniting extraordinary properties with extraordinary lives. Let’s take a few minutes to look at the strategies we use to serve this niche.

Think Like Your High-End Clients

Listen to what they tell you and interpret their needs. Become their eyes and ears, especially if they’re out-of-town buyers. You can shoot a video or take additional photographs of key things or must-haves you know they’ll want in a property. Today’s technology offers plenty of ways to give them a glimpse of the area before they visit.

Create Relationships That Extend Beyond the Closing Table

These clients look to you for more than just buying a home, and you should treat each and every one of them as if they are your only client. You should go above and beyond to meet your clients’ needs. They should know they can trust you. It’s about putting their needs first.

Know the Local Market and the Inventory Inside-Out

When a buyer comes to you with a certain type of property or price point in mind, you should know exactly where to find it. Affluent buyers are typically looking for second or third homes that will provide a distinctive way of life. Whether it’s waterfront, country club or new construction in the heart of a downtown hotspot, they know what they want… and they are at a phase in their lives where money isn’t the factor driving the purchase. They desire something new and different or even to be closer to their grandchildren.

Go to Broker’s Open Houses and Get to Know the Homes Before You Show Them

It puts you ahead of the game. In your specific area, you might be seeing a lot of new construction and development and people want to know all about it. You should regularly visit these properties ahead of time to know what’s what.

Patience is Definitely a Virtue in This Niche

Luxury transactions don’t happen overnight. Everyone moves at different speeds and these discerning buyers typically take their time. You should learn to become intuitive enough to know when to act and when to step back. But make no mistake about it, if something needs to be said or there’s a deadline that needs to be met, you should take care of business to ensure they aren’t hurt in some way.

There is No Easy Path to Success in Luxury Real Estate

People may say, ‘Oh it’s luck,’ but it’s not. As cliché as it may sound, you should be recognized for your hard work because you work hard. It’s a direct result of your love for the business and your desire to continually educate yourself. As the adage says, “I find the harder I work, the more luck I have.” When you’re working hard and you’re passionate about it, opportunities come to you.

Jessica Rosato is a Luxury Broker Associate for Nestler Poletto Sotheby’s International Realty of Delray Beach. As a concierge realtor, she utilizes her skills to create experiences of a lifetime. Visit her website at www.bocadelrayluxury.com.

Tips for Avoiding Nightmare Real Estate Clients

Frustration

Let’s just be honest – for all the marketing we do, for all the outreach, for all the networking… there are still some real estate clients we really don’t want.

You’ve probably had at least one nightmare client. They:

  • Don’t listen to your advice
  • Don’t want to price properly
  • Refuse to take the time to get financially approved
  • Want to see 10 houses on the same day
  • Call you constantly when nothing has changed
  • And much, much, more…

So how do you avoid getting stuck with a nightmare client? Here are some tips.

Require New Clients to Follow a Process

When you have a consistent process for all new clients, it saves you an enormous amount of time. It also helps to weed out the buyers or sellers who aren’t serious.

Require a customer to fill out a needs questionnaire, obtain financial approval, and take any other steps that make sense in your business. If they won’t take the time, they aren’t worth your time.

It may sound harsh, but it’s essential that you spend time with the clients who are serious about buying and selling. You don’t have to ignore the others, just keep the relationship on “simmer” until their ready to commit to your process.

Carefully Question Expired Listings

We’re a huge fan of working with expired listings. There are an enormous number of reasons that a listing can fail to sell during the contract period, and many times you can have a far better outcome given your expertise.

However, sometimes these listings fail because the seller is completely unreasonable. Maybe they won’t negotiate on price, insist on having their personal clutter on full display, or won’t listen to their Realtor’s® advice on needed repairs and updates.

Don’t rush into an expired listing without a bit of fact-finding. With careful questioning, you can often get a sense of whether this expired listing will be an ideal client for you or if you should let it go.

Know Who’s Pulling the Strings

Whether it’s a nosy parent providing the down payment or small children swaying their parents with a single remark, it’s always frustrating to feel like your client isn’t the real decision maker.

In your initial interview with a buyer, make sure you understand the full situation before you pull out a contract. Ask explicitly, “Who else will be part of this buying decision?” If they mention kids, pets, or roommates, be sure to ask how important it is to them that these parties are happy with the purchase.

If your buyer wonders why you’re asking, just point out that as a professional you want to make sure everyone is happy with the home. It’s vital to know who’s involved.

If it sounds like someone else is pulling the strings, consider carefully if you want to be involved. There can be a lot of drama in those types of situations, and you may not make minimum wage by the time it’s done.

Trust Your Instincts

Even if you don’t have a lot of real estate experience, you’ll have a gut feeling that some people aren’t going to be ideal clients. If you have years of real estate experience you will have an even better instinct about clients.

The key is to listen to that feeling! Don’t be blinded by money or desperation. Nightmare clients aren’t worth the hassle, assuming they ever do get around to closing a deal.

Are you ready to freshen up your marketing materials for spring? Get ready to attract the RIGHT clients with postcards, business cards, door hangers, and more!