What does an agent need in order to get into the luxury side of real estate? Why is it so crucial as an agent to be able to “own your numbers”? On this episode CEO of Christie’s International Real Estate, Dan Conn, shares the biggest market trends in luxury real estate, and gives insights on why real estate remains a stable investment.
If you own the numbers and you can make a compelling case to the client about your ability to transact at the high end of the market on a listing, you’ve got a much better shot. -Dan Conn
Takeaways + Tactics
- It’s not enough to say a home will be on Zillow or Trulia. You have to be able to find distribution globally, and get global syndication sources.
- Real estate perseveres through an economic downturn in a way that many businesses don’t. Real estate in the US has outperformed the S&P over the last 17 years.
- When breaking into luxury, your firm has to provide the kind of tools you need to be competitive at that end of the market.
At the start of the show, Dan gave some background on Christie’s, their affiliates, and how they’ve done over $5 billion in volume over the last 5 years. Next, we talked about how many people there are in the world who can afford the $100 million dollar properties on the global market. Towards the end of the show, we discussed the importance of leading marketing strategies for making a home stand out.
We also discussed:
- Notable trends in the luxury market
- Advice to agents who want to break into luxury
- The importance of global syndication of your listings
When you’re trying to break into luxury, it’s important to be a part of a network that gets you the kind of distribution and exposure that ensures that people across the world know about the property. It’s also necessary that you own the numbers and prove that your surpass your competition when it comes to making a property stand out. Remember: you are responsible for how that property is positioned online.
Dan is the CEO of Christie's International Real Estate. Prior to that he worked at Brookfield Asset Management, where he managed the company's Hard Rock Hotel & Casino investment, overseeing all property level departments, including finance, strategy, legal, marketing and human resources as well as developing the HRHC franchise business. Go to http://www.christiesrealestate.com/ for more info.