How to succeed in luxury real estate.

By
Real Estate Agent with United Realty Group

It always helps to have a connections in high places and a bit of luck when it comes to luxury real estate especially when you are starting out, but there is also a lot of work involved trying to serve high end customers and to sell luxury homes. When farming in a luxury market make a financial commitment. Buyers and sellers expect to see high-quality marketing materials and that means a four color brochure with a floor plan, an ad placement in magazines distributed internationally and strong presence in the internet. Creating a separate website for each property is a great idea. The key is to look at what sets the home apart and what makes it desirable. One picture worth a thousand words and when it comes to luxury real estate pictures of the property are exetremely important. The rule of thumb is to spend close to 1% of the sales price on professional photography hiring three different area photographers. You can see many great examples of creative photography of the properties on my website www.olympievfloridahomes.com

Buyers of multimillion-dollar homes have been through buying process before and expect not just an ordinary showing but a luxury experience. Know your product and do your homework by learning as much about the community as possible - ammenitites, residents and their hobbies for example. Build rapport with your buyers and sellers. Build relationships, because most of your business in the future will come from referrals.

Florida luxury real estate market is going strong, there are a lot of wealthy people in U.S. so there is a lot of opportunity out there. We spend a lot of time marketing and selling our listings, why not go an extra mile and do it on a luxury level and deliver 10+ customer service? My name is Dmitri Olympiev and I work with great company Keller Williams Realty. Good luck to all. First we"ll be best then we"ll be first.

 

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Anonymous
Anonymous
Thanks for the good advice!  Many agents are itimidated by the luxury market, but, like anything else, a good plan is a good place to start!
Aug 24, 2007 01:28 PM #1
Rainer
99,564
Ashley Drake Gephart
Drake Intel Group - Albuquerque, NM
I'm a little confused. You are saying on a $10,000,000 to spend $100,000 on photography? That seems a bit high.  
Aug 24, 2007 01:35 PM #2
Ambassador
891,230
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy
Good tips.  I enjoy the luxury market.  One great thing is dealing with buyers and sellers that know what type of experience they want, and usually aren't afraid to ask for it.
Aug 24, 2007 01:45 PM #3
Rainmaker
1,180,833
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City
The nice thing about luxury real estate is that there is very little down side to this market.
Aug 24, 2007 03:08 PM #4
Rainer
2,371
Dmitri Olympiev
United Realty Group - Cooper City, FL
David, Lane and everyone else - thanks for the great comments, Ashley it really depends on the property and I am not suggesting you should throw money away but I know some people who spent some money to get aerial photography done of the properties and it really worked and impressed buyers.
Aug 25, 2007 01:48 PM #5
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