The luxury real estate market is a unique niche that demands quality, professionalism and excellent networking skills from its agents. Those looking to buy or sell high-end real estate require agents with a long-standing reputation and an intimate understanding of this particular market. Here’s what to look for.
Knowledge and insight. What is classified as luxury can be confusing for someone new to this world—does it only qualify if it’s an elaborate mansion? Are multimillion-dollar homes the only ones with any prestige? The right agent will be well aware of the market and can help you navigate your way through everything it has to offer.
Professional qualifications. Many real estate agents are experienced, but agents who specialize in luxury typically earn higher commissions due to more extensive training in luxury marketing. Certain designations exist for agents who work with high-class clientele. The right agent should have a history of securing some of the best high-end properties available and an impressive list of clients and contacts.
Sleek, elegant branding. Typically, luxury agents will go out of their way to market themselves in a way that appeals to their clientele. Just as a little black dress and pearl earrings are suggestive of wealth, nothing says sophistication like a well-executed website and curated Instagram feed. While you should start your search with word of mouth recommendations from friends who have already bought and sold in this market, once you have a list of contacts, go through their online presence to see which agents are truly up to snuff.
Good networking skills. Although a comprehensive understanding of the market is key, it is also valuable for high-end agents to be well-connected in a variety of industries. A network of marketers, private lenders, bankers and professional photographers helps to solidify an agent’s reputation among their upscale clientele. When you first meet with an agent to see if they’re the right fit, inquire about their list of contacts and most recent clients to see if they truly hold up.