To make a name for ourselves in the high end luxury space, we have to go above and beyond all expectations. How should we be staging our houses for the ultra luxury market? How can partnering with other agents help us build credibility, and how do we approach commission splits when we’ve partnered up?
On this episode, partner at Berman and Pollinger and dynamic global ultra-luxury real estate expert, Jennifer Berman, shares how to make a name in the ultra luxury market.
If you’re new to the space, find a luxury agent in your market, ask them to go with you to a listing and offer to split 50/50 with them. -Jennifer Berman
Takeaways + Tactics
- With ultra-luxury open houses, staging is vital. Even if the property has been professionally decorated by the current owner, stage it so the buyer feels at home.
- When we’re new to the ultra luxury space, we have to make a name for ourselves to boost credibility. The best way to do this is by partnering with a more experienced agent.
- Be willing to split commission 50/50 with an experienced agent when new to the space. A commission of 50% is a much better deal than 100% of nothing.
At the start of this episode, we spoke about why it’s never a good idea to list a property at a higher price than its value. We also discussed how to approach clients who try to cut agent commission, and shared how lower commissions can have a negative impact on clients themselves.
We also shared insights on:
- Why an online presence is non-negotiable
- Why ultra-luxury clients are hesitant to buy and sell during an election year
- How a seller’s attitude can impact how long a sale takes
Jennifer Berman is one of the partners at Berman & Pollinger. Jennifer is a sought-after expert in ultra-luxury real estate, thanks to her dynamic personality and extensive experience. In addition to managing teams of over 200 agents, increasing sales to $1 Billion within a year for a top luxury real estate firm and facilitating foreign entities, Jennifer is also a TV personality who has been featured on several media outlets. You can catch Jennifer on CNBC’s new real estate show, ‘Listing Impossible’.
For more information about Jennifer, visit https://bermanandpollinger.com/about/about-berman/?gclid=CjwKCAiAis3vBRBdEiwAHXB29KVhkFAxYiHcxjojpYBsAcB7-K1rfkv9_ZFXSGrfRa5xSSPJ1bQLghoCzUoQAvD_BwE