Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
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Trying to get in with the high-end clients in your market? It might not be as hard as you think…
As part of the latest RISMedia ACE Webinar Series, attendees learned some top tips for taking one’s business to the next level in the webinar titled, “Listing Mastery: 7 Secrets to Working with High-Net Worth Clients,” sponsored by The Entrust Group. Unsurprisingly, panelists said that to court high-end clientele, one must use tools already in their arsenal: expert knowledge of market numbers and a high-level confidence.
According to the webinar’s panelists, Anthony Marguleas, broker/owner of Amalfi Estates in Los Angeles and Julie Toon Timms, broker in charge of Hilton Head Island Real Estate Brokers, Inc., those seven secrets are:
- Care about what they care about.
- Be consistent and keep in touch.
- Know the market.
- Remember that they’re regular people, too.
- Have the right tools for the job.
- Advocate for them.
- Know that it’s not about the gimmicks, but the investment of time.
In order to set his team up for success, Marguleas made the distinction of calling his team members “sales partners” as opposed to any other industry title. “The credibility and respect is a lot higher. ‘Buyers agents’ are great, and are doing the same role, but we’ve found ‘sales partner’ has been very effective from a branding perspective.”
His company is choosey with who they select for their team, as sales partners need to align with the company’s core values, and be okay with 10 percent charitable giving. In addition, to appeal to the higher-end market, Marguleas said you have to up your game all around, especially in the marketing department.
“You have to step it up on the advertising side and do something unique and different,” he said. His company sends direct mail to every home in the community, showing photos of the luxury homes that sold and educating potential clients about what the market’s doing, which could possibly throw a potential buyer or seller off the fence and into action.
Your apparel may make or break you as well. “Dress how your clients are going go dress. In Malibu, wear a shirt and tie. If you’re working with people in the entertainment industry, you can be a little casual. But it really depends on who they are,” said Marguleas. (CliffsNotes: If the client is wearing a $1,000 suit, you need to wear a $1,000 suit!)
“It really comes down to confidence. They’re not an expert in real estate. When you bring confidence to the table, they really respect it. The reality is they still know significantly less about real estate than you do. Once you can sit down and educate them, they’ll treat you as one of their trusted advisors, and that is key.”
Timms added that wealthier clients get up …read more
From:: Real Estate News