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TALLAHASSEE, Fla. – To serve the luxury real estate market, brokers, teams and agents must first understand local market trends, demographics and economic factors, as well as preferred architectural styles, amenities and other preferences of affluent buyers.
Agents also need to understand the strengths and weaknesses of their competitors to better position their services to potential clients.
One aspect of luxury market sales that agents need to know is that strong relationships are worth everything because they can provide leads and partnerships. Agents should join clubs, professional organizations and exclusive groups to begin networking with potential clients and partners.
Branding for the firm should espouse luxury through high-quality marketing materials, professional photography and a polished online presence, including the leveraging of digital market to its fullest potential through active social media profiles and digital advertising.
Other aspects agents should understand include local laws, zoning regulations, tax implications of high-end real estate transactions; high-quality client service which include being discreet and responsive; and continuously learning about the market, technologies, high-end must-have amenities and more.
Entering the luxury real-estate market also requires persistence and patience.
Source: Inman (07/19/24) Pollinger, Chris
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