So, you want to work with beautiful homes, high-net-worth clients, and learn how to become a luxury real estate agent—but you don’t know how to break into the world of luxury real estate? Maybe you’ve tried to farm luxury homes but you didn’t get any responses. You probably feel like you are invisible to this clientele. That’s because you are invisible to them.
For the past 10-plus years, I’ve coached agents, teaching them how to differentiate themselves so they can attract high-end clients. In this article, I will uncover how to become a luxury real estate agent using 10 of my tried-and-tested methods.
1. Adopt a Fancy Hobby
The best way to meet high-net-worth clients is by doing something you already enjoy. This can be as easy as joining your local antique car group, attending a few fine art shows or wine tastings, or finding a local polo club.
While buying a horse or an expensive car might not be feasible for you, you can always find other ways to be an enthusiast. For example, you may not be able to afford a Ferrari, but you can certainly educate yourself on the company’s history and attend meetups and car shows to show off your knowledge.
Then, if you are attending a vintage car race, you can bring a list of luxury properties in your area that feature large garages or outbuildings that would be perfect for a vintage car collector.
Before you jump in: I cannot stress this enough, nobody likes a poser—so start with a hobby you actually enjoy, or at least find interesting.
2. Make Luxury Part of Your Personal Brand
A key step to breaking into the luxury market is to make sure all your marketing materials, including your business cards, website, advertising, and social media look both cohesive and sophisticated.
Attract the attention of high-end homebuyers by showing them the best of the luxury lifestyle in your farm area. Marketing the luxury lifestyle is easier than ever before with social media as the perfect place to “fake it until you make it.” It won’t cost you a lot of money to feature and discuss high-end restaurants, gallery openings, or golf tournaments on your social media accounts.
If you want to take your luxury marketing and branding to the next level, we recommend Luxury Presence. An all-in-one platform, it’s used by at least 20 of the top 100 WSJ agents. Luxury Presence offers agent websites, lead generation, and even video production—all with a razor-sharp focus on the luxury real estate market.
3. Get Involved With Charities & Causes
Generally speaking, high-income people enjoy supporting causes, attending charity events and auctions, volunteering, and fundraising. Start with a cause that means something to you. Your relationships and opportunities will develop naturally when your dedication to the cause shines through. From there, you can build a network that will lead to new opportunities.
Again, this is a strategy that really requires authenticity and sincerity. Don’t fake a love of rescue dogs if you don’t like animals—people will see right through you.
4. Sweat the Small Stuff
Every detail in a property worth millions of dollars is important. When you’re showing a luxury property, you need to be ready to point out the luxury finishes, from the big obvious indoor basketball court to the tiniest cutting-edge audio speaker.
If, for example, you work in a market with lots of expensive historic homes, you need to have the proper vocabulary: know a cornice from a corbel and the difference between balusters and the balustrade. And be familiar with easements and zoning boards that get a say in renovations and restorations.
On the water? Know your boat lifts and dock permits. In the mountains of Colorado, what are the fire risks, the best ski lodges, and stocked trout streams? If someone is going to pay a premium for luxury property features, you need to become the luxury agent who knows what they are and why (or if) they’re worth it.
Again, social media is key to showing off your expertise. If you can’t afford a marketing manager, do what 4,000 other teams do: get curated local content automatically posted to your social media accounts using Artur’In. For a fraction of the cost of a marketing manager, Artur’In will curate, create, and post content to your social media feeds to engage any audience you want. They also do automated Facebook and Google pay-per-click (PPC) campaigns if you just want leads.
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5. Solve a Problem Specific to the Wealthy
Remember, you’re not just a real estate agent, you are a luxury real estate agent, and you offer more profound knowledge and broader expertise. Here is a list of common concerns for high-net-worth individuals, which often dovetail perfectly with your real estate services.
- Real estate investing
- Legal tax avoidance and tax consequences
- Asset appraisal, privacy, protection, and preservation
- Zoning and land use
- Banking and lending
- Common property and prenuptials
Think of one (and only one) problem that a luxury client may have that you can solve. You can then position yourself as the one person in your market who solves this problem for affluent clients. Reflect on your career and experiences and ask yourself the following questions:
- What experiences, skills, and knowledge are valuable to a luxury client?
- Which luxury clients would benefit from my skills and experience?
Then, write a positioning statement to use on all your marketing. For example:
“I help high-income individuals create, acquire, and manage a diverse property portfolio.”
6. Teach a Relevant Course
Once you know which specific problem you are uniquely qualified to solve, get out there and start educating your prospective clients. High-net-worth individuals may desire a deeper knowledge of real estate investing, 1031 exchanges, recent zoning changes, second home purchases, or development opportunities—and you can be the one to teach them.
Position yourself as the real estate educator and local authority by creating a 30- to 45-minute presentation or workshop. Ideally, you want to share all the ways that they can solve the problem without telling them exactly how to do it. End with that simple call-to-action: If they would like more, they will need to schedule a meeting with you.
Focus on educating without getting anything in return. Even if you don’t set any meetings at first, you will eventually become a trusted authority on your chosen subject, leading to opportunities in the future.
📌 Pro Tip
Don’t forget to bring snacks! Offering cookies, coffee, or even wine and cheese can go a long way toward breaking the ice.
7. Level Up With Designations
If you choose to become a respected luxury real estate agent, you need proof that you have the knowledge, skills, and experience to handle such an expensive asset. There are several designations and certifications explicitly designed for agents in the luxury real estate market, including:
- Luxury Homes Certification (LHC)
- Certified Luxury Home Marketing Specialist (CLHMS)
- Accredited Luxury Home Specialist (ALHS)
8 Real Estate Designations That Will Actually Make You Money
8. Hitch Your Wagon to a Star
You can gain serious skills and connections by helping other luxury agents with their marketing, events, and open houses. When you can show your well-to-do peers that you are hungry, they will be more likely to take a chance on you.
Don’t be too proud to co-list, either. If someone is too busy to take on a luxury listing, offer to jump in, co-list, and do the grunt work. Half of a commission of a luxury listing is well worth it. Becoming a luxury real estate agent is all about the hustle.
27 Open House Ideas That Will Actually Get You Leads
9. Mine Expired Luxury Listings & FSBOs
Luxury homes can take two to three times longer to sell than the average home because fewer people can afford them. Plus, many are custom-designed and have unique features, making them more difficult to price correctly the first time.
Some luxury listings can sit on the market for years and change listing agents two to three times before they sell. You don’t necessarily need to close your first listing to get started—you just need to get it, and more will follow.
Luxury FSBO (For Sale By Owner) sellers can also find it difficult to attract “real” homebuyers for their premium-priced homes. This means that there is opportunity for savvy agents to prospect for both luxury expireds and FSBOs.
I have coached several agents on how to get listings by prospecting expired luxury listings and FBSOs. Because you are approaching them unsolicited, present yourself as an ambitious (yet professional) luxury real estate agent who offers the ultimate solution to their problem of wasted time, since their property’s “days on market” are likely to be higher.
How to Get Listings: 21 Luxury Listing Agents Spill Their Secrets
10. Claim New Construction as Your Own
Hustling to become the representative for a new residential construction project is one of the fastest ways to establish yourself in the luxury market. If a developer has one project and likes the work you’ve done to sell it, chances are they’ll have another one…and then another one.
The hard work it takes to get the listing and to do well with it will pay off in spades. It’s a mutually beneficial relationship that can grow and develop over time.
Bonus Tip: How to Do Luxury Marketing on a Budget
If you can’t quite afford a luxury marketing team yet, try Lab Coat Agents Marketing Center. It’s the first design platform created just for real estate agents. They offer beautiful, easy-to-edit templates for email newsletters, just-sold flyers, door hangers, social media posts, business cards, and much more.
Connect with your passion. Be genuine in your pursuit of relationships and networks. Create a plan to connect with affluent people who share the same excitement for luxury real estate properties that you have. Brand yourself appropriately, work hard, and provide a professional, unparalleled client experience. Take these steps and you’re already on your way to becoming a luxury real estate agent.
Remember that in today’s world, luxury is not about price—it’s about the uniqueness of an experience and elite level of service. Keep track of your progress with our luxury agent checklist.
Over to You
Confident you now know how to become a luxury real estate agent? Do you have a way to break into luxury that we didn’t mention here? Let us know in the comments, and if you’re an active agent, join our Facebook Mastermind Group for more advice from pros.