What Truly does Create a Successful Luxury Realtor?
Realtors who specialize more in the luxury market likely have a few unique personal and professional traits that bode well for them. The stars in this niche might not match our picture of them however. They could actually possess negative traits.
What separates elite realtors from the rest? It may a belief in themselves, that they can do anything and are quite happy to do whatever it takes to improve their business. After they eliminate all the stuff that they’ve discovered doesn’t work, they focus more on what will.
And they have that joyful optimism that says “I can do this.”
Success in real estate does take time, however top realtors know they must take what does work and accelerate it. Sure, human relationships are organic and it takes time for everyone in the community to get to know your reputation. So anything that accelerates your reach, credibility and familiarity is worth doing.
In luxury real estate, poise, trust, and presence in the upscale communities are important. Are millionaires more exposed to fraud or bad transactions than the less wealthy? Not really. Rich homeowners want a realtor that “belongs or looks like they belong in their circle”, whom they can trust and will take all the pain away. They consider their circle a prestigious club.
If a Vancouver millionaire wants to sell their $2 to $10 million home, they’re likely going to contact one of the top realtors such as Merrily Hackett (over $15 billion in sales volume and 22,000 real estate ends in 2015!) and Jason Soprovich. They’re the most visible and reputed millionaire realtors in Vancouver.
Jason has been involved in over One Billion Dollars of Residential Sales and was ranked West Vancouver’s #1 Realtor for 2011 based on a record setting $265,000,000 Dollar Volume of Sales for a single calendar year. Jason has earned a wealth of professional expertise, knowledge, sophisticated resources and unique skills along with an understanding of the Marketing and Promotion of Luxury Real Estate down to every last detail.
“I believe there is no substitute for aggressive promotion, networking, and a deep comprehension of market conditions and honed negotiating skills. Success is not measured solely by sales, but by relationships built, continually communicating with clients and by responding to their individual needs; as well as, appreciating the special qualities of their property.” Read interview in the Vancouver Sun with Jason.
Top 8 attributes of a great Luxury Real Estate Agent:
- Actively prospects 3 hours per day. Countless studies show successful Realtors are ardent prospectors and salespeople. Merilly Hackett is quoted as saying her priority is prospecting and sales. And smart realtors don’t doddle with social media and content marketing either. Instead, finding someone really good means saving their precious time.
- Focuses on more Listings. This entails finding homeowners who want to sell, thus they’re putting more time into networking and meeting people to create more touchpoints with people in communities. Word does get around and they’re actively invested in the communities, businesses, and upscale residents where million dollar listings are prevalent. They also create a presence on the lifestyle and real estate websites homeowners frequent. Online and off, they focus on reaching people with homes to sell.
- Uses Sales Scripts. Using their tested best selling conversation means finding a conversational and inquiry process which they’ve found works for them. This improves engagement with prospects and leads to higher closing rates. This conversation with prospects continues online and off. If the first contact goes well, it puts the relationship on sound footing and that tends to continue, ultimately leading to sales transaction and a long term professional friendship.
- Hires a Digital Marketer and an Assistant. Though some agents hire an realtor assistant who may free up considerable time, that person is not an excellent digital marketer. Online reach and impact are very important now to help support the realtor’s real world networking and communications. And using SEO, Social Media, email, content marketing, and even paid advertising are all part of what’s now called omnichannel marketing, is necessary because it maximizes the collective promotional value. Combining roles creates double mediocrity.
- Networks with other Successful Realtors. Other realtors may often be your best clients and it never hurts to know the best in the business. Realtors from other areas of the city, country or world might send clients your way if they know about you, or find you online. This means making an effort to create conversations with other realtors — they refer to who they know, trust and might benefit from. This is business. Here’s where digital marketing, SEO and content marketing pay dividends. It makes you visible online and creates touchpoints with other realtors — the touchpoints that mean something to them. They are an important customer prospect.
- Builds a strong local presence. Visibility via outdoor advertising, digital advertising, and community activities and perhaps some timely print material gets you known. And yes, getting your lawn sign in a great neighbourhood is always a key goal. This is where active networking and interpersonal time comes in too. Nothing makes an impact better than connecting with people face to face whether at sports events, community events, or other social activities. If your face and name are all over the place, it makes it easier for people to approach you.
- Delivers Wow Factor. Realtors that use drone video, interior video, superb photography, beautiful staging, and an amazing fun experience on their website impresses homesellers. They may bring a large tablet computer to show how they can improve their home and landscaping for even more value add. They can’t help like a realtor who brings out the beauty and full value of their home online. Who wouldn’t be impressed. Being listed on a site such as Dream Homes Magazine or the Robb Report adds even more prestige. And let’s not forget the value of being highlighted in the media.
- Understands the local market exceedingly well. A property is worth whatever buyers think it’s worth. A hovel in Toronto or Vancouver has sold for an obscene price. Luxury realtors such as Jason Soprovich know how to buy and position a high value property for sale. There’s a lot more play in the luxury market thus allowing for more creativity in presentation of value and negotiating a price. Knowing which features are most important to specific buyers allows them to clinch a better price. This impression of competence gives them a lasting reputation as a master of sales.
By following these top sales professional traits, you’ll push yourself into the elite category and focus your time on the activities that truly do bring the best long term results. If it takes time to build a regular real estate career, it takes even more effort, strategy, and resources to become the next Merilly Hackett or Jason Soprovich.
Who do you feel is the most notable luxury real estate agent in your city?