Working with luxury clientele can provide some of the most rewarding experiences a real estate agent can ask for. One topic that frequently comes up when we interview top-performing, Certified Luxury Home Marketing Specialist agents for our monthly Member Spotlight is that building and sustaining trust with these clients is imperative for both the client and agent’s real estate success.
Unfortunately, real estate agents are often associated with the stigma of being “salespeople,” which implies that an agent will say anything to “win” a listing. Even in luxury real estate, it’s important to recognize this stigma and empathize with new clients who may have had unsatisfactory experiences with other agents in the past.
Whether you’re a new or seasoned agent, nurturing client relationships takes time, effort and consistency. Learning new ways to ensure successful client relationships is a key component of creating referral-worthy experiences that grow your practice.
That’s why when it comes to helping a luxury client sell their home, setting the tone for total transparency up front can prevent roadblocks, or losing the listing to another agent.
Here are a few ways to build and sustain the kind of trust with sellers that can lead to lasting relationships and real estate success (even if you’ve been selling luxury homes for years).
1. Keep Them in the Loop
Because luxury clientele have busy lives, it’s easy to assume that they don’t want to be “bothered” with the details of their sale. While that may be true for some, it’s important to establish first how you’ll communicate and deliver updates about their listing.
We have spoken to some successful agents that send a short video clip via text or email every day with updates, and some that make a point of telling their clients in their initial meeting that they will deliver both good and bad news as it comes up.
Most clients want to know if you’re encountering any struggles with their listing. No matter how small the detail, communicating always wins and will leave them feeling confident that they are in the right hands.
No matter how you and your client decide to communicate, it’s important that you do so regularly if that is their expectation.
2. Don’t Overpromise
In a competitive and sometimes slow-moving market, getting listings can be difficult for both new and seasoned agents, making it tempting for some to tell prospects that they can get them an offer quickly, or lead them to think that their home is worth more than it is.
However, when an agent makes a promise they can’t keep, they will only hold a seller’s trust until those promises go undelivered. Being honest about what you can and can’t deliver can help you earn a client’s respect and trust, and lead to repeat business and referrals that ultimately add up to long-term real estate success.
3. Be a Resource
One of the best things you can do for any client, especially your sellers, is to invest in your education. Most luxury real estate clientele are already market-savvy and tend to know more about real estate than traditional real estate clients. Staying on top of trends and knowing your feeder cities and your local market inside and out are what will ultimately build trust with your sellers.
Your Certified Luxury Home Marketing Specialist certification tells them that working with you ensures that you possess all of that knowledge and experience, but continuing your education with our Leaders In Luxury events, Luxury Live Conferences and reading our monthly reports are other ways to keep your knowledge and skillset fresh .
If you’re ready to take your career to the next level, view our training options and why becoming a CLHMS agent can give your real estate practice the boost it needs.
Diane Hartley is the president of the Institute for Luxury Home Marketing, a premier independent authority in training and designation for real estate agents working in the upper-tier residential market. Hartley brings her passion for luxury marketing and more than 20 years of experience growing and leading businesses to her role as president of the Institute.