Most agents will tell you the high-end market is impossible to get into unless you’re at a certain level. This is a huge misconception. What else do we get wrong about the luxury market, and how do you overcome these limiting beliefs? On this episode we share 5 key misconceptions of luxury listings, and how to prime yourself for opportunities.
This business is all about likability, trust, and how you position yourself. -Mike LaFido
Takeaways + Tactics
- Higher end homes are double the average price in any given market, and luxury homes are 3 times the average price.
- A lot of people think you personally have to be hyper-local to sell in the luxury market, but your mindset should be “have car, will travel.”
- You don’t have to drive a fancy, expensive car to appeal to luxury clients. You just have to drive something presentable.
At the start of the show, we jumped right into the limiting beliefs agents have about the luxury market. We talked about thinking you have to be a top producer or wealthy to get into the market. We also discussed the misconception that you also have to live in a luxury home to appeal to clients. Towards the end of the show we discussed the Chicago market.
We also shared insights on:
- How the business is more about trust than it is about years of experience
- Why you don’t have to be with a well-known luxury brand to sell high-end
- The misconception of thinking luxury homes don’t sell
- 3 ways to double your real estate income
- How to differentiate yourself in the actual listing appointment
If you want to double your income, you have three options. Sell more homes or increase your charges. Thirdly, you can raise the average price of what you sell, and that can be achieved by taking on some high-end or luxury listings. What holds agents back from this isn’t a fancy home, a Ferrari, a big brand or experience. They are held back by limiting beliefs based on misconceptions. Overcoming them comes down to changing mindset, and seeing opportunities where others see no-go areas.
Become a Certified Luxury Listing Specialist and learn how to break in and dominate high end homes in your market. Learn more about the LUXE Luxury Listing Specialist Certification at luxurylistingspecialist.com.