• [Inman Featured] 17 ways successful luxury agents prepare for the global market

  • This high-end world has no borders

  • Key Takeaways

    • Contemporary luxury real estate agents must familiarize themselves with the world's top properties.
    • Real estate companies need to reach a global audience.
    • A successful high-end real estate agent "lives" luxury to achieve ultimate knowledge of the upscale market.
  • Successful real estate companies know that it pays to enrich their international luxury programs.

    Leading real estate companies take specific actions including:

    • Extending their efforts and market offerings around the world
    • Growing their digital and print content with a focus on top listings and luxury lifestyles; top-class marketing materials attract upscale clients (image is important in the high-end sector)
    • Creating an effective luxury website that encourages global participation, collaboration and sharing marketing materials for listings

    Company campaigns are designed to reach the ever-increasing sector of luxury sales, including properties worth $1 million and beyond. The goal is to be a leader in the luxury real estate market.

    Real estate companies must continue to improve their programs. After all, they want to be able to serve the next global generation of luxury buyers. And success in luxury real estate does not come by luck or just talk.

    It is the result of hard work, passion and commitment. Agents’ achievement in upscale real estate depends on their degree of expertise.

  • 17 tips for top achievers

    Here are 17 tips for top luxury real estate agents preparing for the global market:

    1. Prepare if you want to succeed in the high-end real estate market.
    2. Benefit from the first-hand knowledge of experienced and successful luxury real estate agents.
    3. First-class industry resources will also help get you ready to meet — and exceed — the expectations of wealthy clients.
    4. Learn how to operate in this upscale category.
    5. Put your knowledge to work in the real world of luxury real estate.
    6. Be able to collaborate effectively with professional peers in the global network.
    7. New luxury real estate agents require access to learning, networking, marketing resources and mentorship to get the best start on the road to success in the upscale market.
    8. Learn what high-end clients want from real estate. In other words, be familiar with the opulent lifestyle.
    9. You need not have lived it, but educate yourself about luxurious living.
    10. Read material related to the high-end sector. Speak the client’s “language of luxury.”
    11. Spend time in the area where you are most likely to find the affluent and get to know the community.
    12. Do consistent and excellent work. As a result, referrals are bound to come your way.
    13. Do everything you can to give yourself a competitive edge.
    14. Create a unique path in the high-end market.
    15. Set yourself apart from the rest.
    16. Build a relationship of trust with clients.
    17. Keep track of the most sought-after global properties. The U.K.-based property consultants Knight Frank’s The Wealth Report ranks the world’s cities in their Prime International Residential Index (PIRI). This report defines prime property as “the most desirable, and, normally, most expensive property in a defined location.” Usually, this real estate represents the top 5 percent of any given market.

    For more intel on what makes a successful luxury real estate agent, watch the video below.