How To Break Into The Luxury Real Estate Business

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Services for Real Estate Pros with Napa Consultants
http://activerain.com/droplet/59dK

Torres Del Paine, Patagonia, Chile

If you are considering transitioning into the business of selling top-tier price homes, you need a plan and a strategy. There are always those who “fall into” a new business venture.  But, for most people, it requires preparation. As Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity".

 

Recently, we were chatting with the ambitious young man at our farmers market that sells outstanding raw milk and cheese fresh from his local dairy. He had been on vacation with his wife and kids in Chile where he discovered a significant underserved market for his products. He and his family fell in love with the area and started dreaming about one day moving to Chile to start a large-scale dairy business.

 

He shared with us how he is going about preparing to make this business and lifestyle transition. He made a list of the skills he would need to acquire to meet the challenge. For example, he needed to learn to speak Spanish which he already has begun doing. He also needed to learn how to operate some heavy equipment.  And, he realized that he needed to develop an alternative income source to take care of the family as the new venture was getting up and running. So, he has started learning computer coding so he can get “gigs” in Chile remotely with just an Internet connection.

 

The same type of methodical planning, strategizing and preparation is what it takes to break into the luxury real estate business. It all starts by recognizing the right opportunity: the underserved or uncontested market niche that you can dominate. With enough preparation you are sure to get lucky!

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Written by Ron & Alexandra Seigel-

 

CAN YOU STATE HOW YOU ARE DIFFERENT AND BETTER THAN YOUR COMPETITION IN UNDER 30 SECONDS?

 

ABOUT:  Luxury Real Estate is a high stakes game. Commissions are substantial! We help luxury real estate professionals get to the listing table more often and win listings more frequently.  If you want to be the market leader, the personal or company brand that your target market thinks of first and refers most often, you need an Elevator Statement to accelerate the process.  We can get you there!

Your Elevator Statement is a succinct and persuasive summary of your extraordinary promise of value, your unique selling proposition.  In a time-starved world the attention span of your target market is shrinking.  To instantly convey what sets you apart from the crowd you need to be able to answer EACH ONE of these 3 questions in less than 30 seconds.: 1) What Do You Do?; 2)  How Do You Do It?, and;  3) How Are You Different?.  Can you state how you are different and better than your competition in under 30 seconds?

Watch the video above to see and hear how we do it. 

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Rainmaker
3,353,965
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Ron and Alexandra Seigel ,

So glad to see this post featured..great advice. I believe preparation is the key to success but first you have to recognize the opportunity!

Jan 08, 2018 03:20 PM #29
Rainmaker
3,633,361
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debb Janes EcoBroker and Bernie Stea JD yes, and no guacamole...I am hoping our avocado man is OK, have not seen him lately..A

Jan 08, 2018 03:56 PM #30
Ambassador
2,656,812
Anna Banana Kruchten CRB, CRS, Broker
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Hi Ron and Alexandra Seigel this is such a great post! It is key to prepare, strategize and plan for opening up into a new market no matter what the business or market.

Jan 08, 2018 04:30 PM #31
Rainmaker
144,555
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Planning, planning, planning. I hear this repeated over and over and over again. It is so true. Every person needs to hear this in their TEENS, if not earlier. Every single thing in this life requires planning. Thank you for sharing. This is a vital subject. 

Jan 08, 2018 04:41 PM #32
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

All goals worth pursuing need a strategy and plan. I think many readers will consider a luxury market as their goal.

Jan 08, 2018 05:35 PM #33
Rainmaker
2,418,073
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Another great post Ron and Alexandra Seigel and right on point.  Nothing just happens...planning, preparation and perseverance are some of  the necessities to succeed

Jan 08, 2018 08:11 PM #34
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Ron and Alexandra

Pretty sound advice for getting into the lixiry market, or any aspect of the business. Your example helps to make your points so well!

Jeff

Jan 08, 2018 08:49 PM #35
Rainer
40,741
Peter Lake
Harborside Sothebys International Realty - Marblehead, MA
Associate Broker

This is totally lacking in useful advice.

Why would Active Rain even publish it?
Worthless.

Jan 08, 2018 09:37 PM #36
Rainmaker
39,795
David Wright
Benchmark Realty, LLC - Brentwood, TN
Real Estate Refined

 I think this is a great story that reinforces the importance of not only having a good plan and goals, but the strategies needed for a person to succeed at anything they truly and deeply want to accomplish.  People dream and wish all the time, but only after careful preparation and defined strategies can they really pursue their goals.

Jan 08, 2018 10:01 PM #37
Rainmaker
1,142,578
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Having a plan and steps to get there is the way to reach a big goal. And it often takes time and patience as well.

That guy will be successful because he has all that and motivation.

Jan 09, 2018 04:12 AM #38
Ambassador
1,897,857
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I'm a big believer in preparation. Sometimes, it seems like getting off to a slow start but it makes th overall process smoother and faster.

Jan 09, 2018 04:56 AM #39
Rainmaker
324,602
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

This is a great post with very wise advice that would apply to all areas of real estate.

Your example we great as it showed the reality of what was coming and the preparation for the ramp up time.

Thanks

Jan 09, 2018 09:01 AM #40
Rainmaker
2,302,850
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Ron and Alexandra Seigel great report on break into luxury real estate business.

Jan 09, 2018 03:02 PM #41
Rainer
397,930
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Ron & Alexandra,

Definitely ambitious plan.

Jan 09, 2018 07:25 PM #42
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

I love the dreams and goals and steps this man is taking! How very exciting. And methodical. One of my alltime favorite quotes:

Henry David Thoreau:

If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them. Henry David Thoreau

Jan 09, 2018 07:47 PM #43
Ambassador
1,285,512
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

I love the dreams and goals and steps this man is taking! How very exciting. And methodical. One of my alltime favorite quotes:

Henry David Thoreau:

If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them. Henry David Thoreau

Jan 09, 2018 07:48 PM #44
Ambassador
2,420,018
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

"the underserved or uncontested".  That's exactly what led us to our patio home niche.  One buyer client with a need, the realization that our MLS didn't identify the homes separately from all others and the opportunity was there.  Much work later, we get found.  It's not ever going to make us the biggest team in Ohio, but that was never our goal.  Bill

Jan 11, 2018 07:32 PM #45
Ambassador
2,430,933
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Preparation, strategizing and planning is what it takes to expand in any market, Alexandra! Great advice and absolutely stunning photo!

Jan 11, 2018 09:20 PM #46
Rainmaker
149,083
Zurple Marketing Team
Zurple - San Diego, CA
Zurple, Client Generation Software for Agents

Great advice and analogy!

Jan 12, 2018 01:46 PM #47
Rainmaker
685,897
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Ron and Alexandra Seigel - Having a plan, rather than let chance take the reins, makes the most sense.

Jan 12, 2018 11:56 PM #48
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