Who Else Wants To List Luxury Homes For Sale?

By
Services for Real Estate Pros with Get It Done For Me Virtual Services DRE# SL641317
Listing Luxury Homes- Do You Have What It Takes?


I received this email last week from one of the agents I coach in SEO for her blogs and websites:  
luxury listings coaching

" I know you sell luxury homes. To me, that would mean in the million dollar range. I am a far cry from that. My most expensive home was almost $500K but not quite.
What does it take to sell million dollar properties? Do I need to live in one of them? Hang with those people all day, playing golf and sipping wine?
Do I have to 'talk'  like them and go on vacations like them?
If I don't do any of that does that mean my life will never 'mesh' with them?
It's not that I don't believe in selling luxury homes, but I'm not sure how much of the lifestyle and personality  I need in order to sell it?
I wonder if you could put your answer into a post. " 


The first things that you have to learn when you want to list and sell in the luxury market are:
 

  • People who own million dollar + homes put on their pants the same way you do, one leg at a time.
  • People who live in million dollar + homes are mostly just like you. They are people too.
  • People who live in million dollar homes come in two types: those that are truly wealthy and those that are wannabees.
  • Truly wealthy people own a lot of books. All leaders are readers. Readers make more money than non readers.
  • People who live in million dollar+ homes are mostly entrepreneurs, own their own businesses or are in the executive sectors of companies.
  • People who live in million dollar + homes tend to be articulate in language, have a world knowledge, understand history and geography.
  • People who live in million dollar + homes are the most down to earth people we have ever been acquainted with.
  • People who are truly wealthy are NOT snobs. They are personable, interesting and caring.
  • People who live in million dollar + homes give a lot to charity and work in charity events often.


What we discovered after we broke into the million dollar + market is that in looking for a real estate agent this clientele is very appreciate of our work, respect our time and our days off, rarely ask us how much commission we charge and become our friends for life.

We do not live in a million dollar McMansion or a Mansion.  We don't drink wine. We don't go hang out in country clubs or at golf courses in order to find our luxury home clients.

Most of whether you are successful in listing and selling in the luxury market niche depends on how you feel about yourself and your relationship with money.

If you were told growing up that:

  • rich people are evil,
  • that money is the root of all evil,
  • that you have to work hard for your money,
  • rich people are selfish

than you will need to work on your relationship with money and falsehoods regarding luxury home owners or else you will be intimidated and sabotage your own efforts.

Our experience has been very refreshing working with luxury home owners. Yours will be also. It is all about your attitude. Your attitude determines your altitude.

How do we get luxury home sellers and buyers? Every one of our luxury listings has come from our expired letter, from referrals, from our website and our Active Rain blog.

Measuring the highest and best use of my time is the most important priority in my working life.

We all have 24 hours in a day. We all may choose in which ways we will spend those 24 hours. And we all will never ever be able to make more than 24 hours nor get any moments we spend back again.

So with those choices;
I can choose to sell more units at lower dollar volume or less units at a higher rate of return and higher profit margins.

Let's break that down:

I can sell ten homes at $100,000 each and make $30,000 or I can sell one home at $1 million and make $30,000. ( as examples)
The time that it takes to sell the ten homes is ten times more effort, work, paperwork and liability than selling one home making the same amount of money but with less aggravation, less time, less stress, less work, less paperwork and less liability.

Since we run our real estate business like a real business we are always looking at how much profit the company is making and how we can improve that number.

Selling luxury homes increases our profits, gives us more time with our family, gives us more like bankers' hours, gives us our weekends off and more time to work on income producing activities.

Stay tuned for a post on how we persevered and got our very first million dollar + listing.

 

        

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 Copyright © 2009 By Katerina Gasset, Listing Luxury Homes, Do You Have What It Takes?  All Rights Reserved.
 

 

 
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Rainmaker
438,949
Bo Kociuba
McGraw Realtors - Mustang, OK
Realtor - Mustang, Yukon & OKC Metro 405-812-1572

Katerina - simple! LOL...however, how true. Anything is possible - how hard one tries and how relentless one is in his goals...

With smiles,

Bo in Yukon

Jun 30, 2009 01:07 PM #13
Ambassador
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Troy- Blog with educated commentary and transparency. Be real in your blogging. Use a high quality brochure and letterhead for your expired mailing program. Follow up even if you don't get the listing.

We did not get a 18 Million dollar listing and the day the seller signed with the other company he called us to tell us he was already sorry he did not go with us. We said, no problem, call us in a year when her listing expires. We will be at the right place at the right time next time around. We stay in touch. That is the key. Katerina

Jun 30, 2009 01:59 PM #14
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Coleen- I suppose that would mean that a million dollar home where you live is quite awesome. Here it is good but not great. I would not trade my awesome floor plan except for maybe a 7 M on the intracoastal or across from the ocean here. :)

Jun 30, 2009 02:00 PM #15
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Bo- All about your goals and then implementing your plan of action:)

Jun 30, 2009 02:01 PM #16
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552,297
Julie Dumaine-Russell
RE/MAX Alliance - Branford, CT

Katerina - Having the right attitude is definitely half the battle for anyone looking to get into the luxury market.  Here along the CT shoreline, the waterfront market is where those million dollar listings are.  While our prices are no where near yours, it can be a very lucrative market and one that thanks to you I'm still pursuing. 

Jun 30, 2009 03:37 PM #17
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Donna- Good for you:) I know that this niche will bring you much success and freedom.

Jun 30, 2009 04:14 PM #18
Rainer
62,574
Bob Dunn
Sutton Group West Coast Realty - Abbotsford, BC

There is a lot of mature wisdom in this posting.

I was raised in a household where "money is evil" and get this ... "the rich people got their money from stealing it from the poor people".

Took me a long time to learn that "rich people" are subject to the same heart breaks and hard brakes as the rest of us.

Jun 30, 2009 04:43 PM #19
Rainmaker
1,074,259
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Katerina the question just gave me a good chuckle. It is easy to see why the agent has not been able to break into the market. It seems the perception is that someone that has money is a jerk, harder todeal with, snobby?? Some of the nicest people have money.

Jul 01, 2009 12:28 AM #20
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3,694,579
Patricia Kennedy
Redfin - Washington, DC
Home in the Capital

Katerina, I think it is important to keep my practice balanced in terms of price ranges.  I work the high end market, but also love to help out kids buying their first places for a lot less money.  And as far as listings go, I think a lot of luxury home wanna be agents put very high prices on homes that don't justify them.  It's more important that the price be right than that it be in the high end without the justification.

Jul 01, 2009 01:00 AM #21
Rainmaker
300,475
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Great advice. I do think that people regardless of wealth tend to align themselves with people of like minds and tastes. My uncle who is on Forbes list every year you would never know he had money, unless you looked at his shoes :)

Jul 01, 2009 01:04 AM #22
Ambassador
1,377,578
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

Katerina - It took me over a day to read and ponder on this post before I could comment. I am pleasantly surprised with your answer. It is not something I expected - not because I expected people in luxury homes to be different (have 3 heads and 4 arms) but it was a simple yet good answer. I think I would just have to confidently do my own thing and someday, my efforts will pay off.

However, there is one segment of the post that I dont necessarily agree with (or I agree with - I'm confused which is which):

I think listing luxury homes have nothing to do with perception of money. In my opinion, money is amoral. It has no "positive" or "negative". It does what it does. I know of very rich people who are money hoarders and I also know of very rich people who freely give them away. I know of some very poor people who are stingy and I know of some very poor people who would give everything away.

So, this is where I am confused about your post. Where does the perception of money come into play with listing luxury homes?

I believe if your avenues of business comes from blogging and other Internet marketing efforts, then yes - you don't have to necessarily "drink wine" and be on the golf course. But if you work directly with your Sphere of Influence (friends and family and referrals from them) need to be in the circle. And again, I'm not sure if the perception of money has anything to do with listing luxury homes or how business comes from.

I like the fact you pin point about the highest and best use of your time. I realize that. Hence, it is my goal from here on out to be blogging about more expensive communities in my area since I know blogging has made me 55% of my current income in 2009 alone.

I'll be looking forward to reading how you landed your Million Dollar listing.

Jul 01, 2009 07:18 AM #23
Rainmaker
597,043
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

Luxury homes are a great niche in some large markets.  But in many smaller markets luxury homes are just a tiny portion of the marketplace....and a target of much competition.

Jul 01, 2009 11:30 PM #24
Ambassador
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Loreena- Your perception of money is everything to do with whether you are able to keep the money you get or not. It also has to do with whether you will attract it into your life or push it away subconsciously. I have done a lot of research on this area.

Money is a form of energy. It is neutral. But it is attracted or kept away based on your belief system about money. If you believe money is evil, or that rich people are evil, you will never attract those people into your life and you will lose all the money you have because if you keep it than you would not be in line with your value system that money is evil unless you choose to 'be evil', which most humans won't do.

I will come back and comment more on this in a few hours. I have some resources for you as well.

Look at Mike Tyson, over 600 million dollars and then broke. The reason is his relationship with money. He can not keep it in his life because his belief system says that money is no good and that he is not deserving of it.

On the other hand, Chris Gardner- Pursuit of Happiness- believed even when sleeping in the train station bathroom with his son, homeless, that he could do a lot of good with money. His relationship with money was to attract it and do good with it, no guilt with getting it nor with keeping it, thus became one of the greatest success stories ever.

Jul 02, 2009 02:25 AM #25
Rainmaker
299,253
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Katerina- Just a comment...was curious if you had read the comments on a different post where you were talking about ONLY making 250,000 now versus before.  I also want to thank you for giving me some good material for Posts.

Jul 02, 2009 09:54 AM #26
Rainmaker
131,417
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

Very inspirational.  I believe this to be the case that you can get into this market with the right attitude.  I know I'm trying.  I'm working on my luxury blogging right now.  I previewed 25 million dollar plus home this past week on the Denver Luxury home tour.

Jul 07, 2009 01:19 PM #27
Rainmaker
733,403
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I love this post. I was just commenting on Loreena's blog about million dollar sellers are usually more easier going than my other sellers in my working experience. Million dollar sellers are very much like any other sellers who are looking for hard working agents with good attitude and knowledge from the market place. We are certainly not million dollar home owners ourselves but we do have the trust from the million dollar home owners to represent them in the selling/marketing process of their homes!

Jul 09, 2009 02:53 AM #28
Ambassador
530,353
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

Now featured on the Million Dollar Homes Group.  Thank you!

Jul 11, 2009 05:30 PM #29
Rainer
1,705
Don McClain
Royal Crest custom Homes - Aledo, TX

This is a great post! I work for a luxury builder out here in Ft Worth.  We build from the 700s to over 2 mil.  I have just started this 2 months ago and I can tell you the prospects have been great.  These people have been very down to earth and not as picky as I thought.

Jul 12, 2009 07:26 AM #30
Rainer
191,465
Nellie Lytvinenko
Homes by Nellie-Working with Buyers & Sellers - Raleigh, NC
919-210-9992, Raleigh - Cary NC Real Estate

I am slowly but surely reading through many of your posts. Thank you very much for your insite and sharing of so much information! 

This post in particular has me looking at my beliefs about myself and is so very encouraging - stepping out of my comfort zone these days has become more and more difficult.  I keep repeating "no risk, no reward".

 

Oct 18, 2009 03:54 AM #31
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Nellie- Change those words and find some words that do not have the 'no' in front of them. When you say to your mind, no risk, no reward, you are cancelling out the thought energy. Sounds strange but focus on words that are more empowering for you. Like: I deserve this, I am doing this now, I love my clients and they love me, everyone I meet really likes me right off and I like them. etc. Katerina

Oct 18, 2009 07:00 AM #32
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