The easiest way to grow business? Sell more expensive houses! For the one-hundredth episode of The Real Estate Sales Podcast, Jimmy explains how to sell luxury real estate and how to do it successfully.
1. Choose your farm area.
- You’ll want to focus on and become an expert in a specific area.
- Make sure there’s not already a dominant player (someone who takes at least 20% of the available listings within the past year.)
- Make sure there’s plenty of opportunities. If you take just 10% of the business, make sure that is enough to be financially viable.
2. Understand Your Market
- Know every sale that’s happened in the last three or four years.
- Understand the views, locations, and lot sizes.
- If you aren’t prepared, you’re going to miss out on opportunities.
3. Know Tax Consequences
- Know tax codes and understand how much taxes people can write off.
- If you can communicate and add value to someone, you’re viewed not just as a realtor but a consultant.
4. Be Where the Clients Are
- If you want to sell more luxury property, you have to be around more luxury sellers.
- Become a familiar face in the luxury neighborhood. Attend fundraisers or activities and be an active participant. That way, the people in the community will feel comfortable with you.
5. Step Up Your Marketing
- Do you need professional photos? New videos? Do what you need to to provide the best service.
- Take the things you see people doing well, put your own spin on it, and go for it!
- Attend every single open house and new home preview in the area. Send emails and establish drip campaigns.
- Put effort into your work, and you’ll see people will want to work with you.
Do you have a video or content idea that is perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it as well. You can find The Real Estate Sales Podcast on Apple Podcasts,Google Podcasts, Spotify,Audible, and our website, The Real Estate Sales Podcast.