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Real estate is inherently rewarding. Giving people the opportunity to take the next step on their homeowner journey is deeply meaningful in any market, at any cost.

But working in luxury real estate enhances all aspects of the industry. The quality and caliber of the homes has been raised. The demands and expectations are raised. Buyers and sellers are often at the top of their trades. For agents who want to lift their careers, luxury real estate has a huge promise. So how can you break into it?

As Tracey Koorbusch, Senior Global Real Estate Advisor at Sotheby’s International Realty – Greenwich Brokerage notes, you do not necessarily have to start in real estate. “I was a salesman in the television business in New York City for 10 years,” she recalls. “It turned out to be a wonderful training ground to learn to accommodate a lot of different personalities, manage multiple accounts and responsibilities, and create and close appointments – all at a very fast pace.”

Jason Friedman, Real Estate Associate at Daniel Gale Sotheby’s International Realty, also started his career outside the industry. “I was a trader in The Commodity Exchange and then a proprietary stock trader,” he explains. His reason for switching to real estate? “I was looking for something that did not involve sitting at a desk and staring at a screen all day.”

After first establishing themselves in the real estate business, Koorbusch and Friedman mastered their craft and made the transition to the luxury space. To help other agents hoping to follow in their footsteps, they gave their three best pieces of advice.

Tip #1: Start by building wide-ranging expertise

Tracey Koorbusch & Amy Rabenhorst – Sotheby’s International Realty – Greenwich Brokerage

It is important to cultivate your knowledge. But so is promoting a network of contacts who can help you support your clients – from artisans to financial advisors. “Expand your book with resources to make your customers’ experience as seamless as possible,” says Koorbusch.

“Also keep in mind that luxury customers are generally very well informed about local, national and global events, so be prepared to engage in conversations beyond real estate,” she adds.

Friedman’s former financial expertise served him well with a luxury audience. “While industry knowledge is certainly beneficial, it really comes down to the fact that potential buyers and sellers have sufficient confidence in your ability to manage trading, which is often their most valuable asset,” he says.

Koorbusch agrees. “New agents should expect to be patient, professional, humble and hungry to learn as much as possible about everything to do with real estate. Knowledge is truly power.”

Tip #2: Find supporters who will cheer you on

Jason Friedman and Rudi Friedman – Daniel Gale Sotheby’s International Realty

A robust contact list includes a network of professional peers who can help you take your career to the next level. “Successful people in any industry usually do not succeed because of luck,” says Koorbusch. “They do the work, even when it’s hard, and ask for help if they need it.”

She advises agents looking for an experienced mentor who is willing to share their experiences and provide coaching through luxury real estate processes – whether it’s an open house in an ultra-high-end property, or navigating the intricacies of the listing papers.

Friedman agrees that it is important to surround yourself with the right people. “The best way to break into this segment of the industry would be to join a team that is successful in the market you are targeting,” he says. “This allows a new agent to gain instant access to the desired market segment while learning from – and leaning on – a team leader with a track record of success.”

Tip #3: Elevate every aspect of your service

Jason Friedman and Rudi Friedman – Daniel Gale Sotheby’s International Realty

Anyone hoping to start in the luxury market must show the diligence and drive that will win the trust of customers and the respect of colleagues. “The difference between a more traditional realtor and a luxury real estate agent generally comes down to the dedication to the craft and the willingness to turn when things don’t work out,” says Koorbusch. “Building a luxury real estate business requires the same kind of disciplined person as other markets, but perhaps even more – someone who is willing to be available when their clients are available, which is often before or after work and on weekends.”

It also requires resources, as Friedman points out. “It takes an investment of both time and money to properly expose the property,” he says. This means that first-time luxury agents may need to spend more than they are used to when preparing a sale. But quality leads to credibility – and like any good investment, it will be worth it in the end.

This dedication is what enables agents to not just enter the luxury industry, but thrive in it.

How do I find seller leads?

Top 9 Ways to Generate Leads for Real Estate Sellers in 2021

  • Request Referrals From Past Customers & amp; Your network. …
  • Show your value on your site. …
  • Be active on social media. …
  • Invest in Lead Generation Software. …
  • Target a yard area with Direct Mail. …
  • Offer a comparative market analysis (CMA)

How do I find lead buyers? To find lead buyers, you can go the free or paid marketing route. For paid marketing, use Google AdWords or LinkedIn. Insert ads in AdWords based on search terms such as mortgage leads, business loan topics, etc. On LinkedIn, you can target specific types of companies and titles.

How do I get seller leads on Facebook?

Simply navigate to facbook.com/adsmanager OR go to “Ads Manager” from your Facebook Business Manager (or Business Suite). Make sure you are on the “Campaigns” tab, then press the green “Create” button to get started. Select the “Lead Generation” option and press “Continue”.

Who inherited Edith Flagg’s estate?

Edith Flagg died in 2014 with a net worth estimated at $ 100 million. Josh Flagg’s father, Michael, was an only child, so he probably inherited her entire fortune, giving Flagg’s parents a net worth of about the same.

Why do Realtors make so much money?

They charge a lot because it takes work and money to market, it is difficult to get a license and become a real estate agent, they have to pay dues and insurance, and real estate agents usually have to share their commissions with their realtor. The biggest reason realtors make so much money is that they’re worth it!

What percentage do most realtors charge? Real estate commissions can be negotiated, but they typically run around 5 percent to 6 percent of a home’s selling price. The exact terms of an agent’s commission vary from sale to sale and may depend on the region and the company they work for.

Do attractive Realtors make more money?

Summary: A recent study of physical attractiveness, and how it affects real estate agents’ wages and productivity, shows that the more attractive the real estate agent is, the higher the price of the home for sale.

Can a Realtor be rich?

Real estate agents specializing in luxury real estate often deal with ultra-high net worth individuals (UHNWIs). These are people who have assets of $ 30 million or more. They are among the richest individuals in the world – a group that is quite small but a group that continues to grow.

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