Selling: Your blueprint for winning multi-million dollar listings

Let’s get right into it. The trick to winning multi-million dollar listings is simple. You have to:

  1. Have a seamless and intuitive presentation.
  2. Have unparalleled knowledge of your market.
  3. Develop a strong and resilient network.

Don’t get me wrong, this is a simple list, but the work and process of building this is not easy. If it were, everyone would be a real estate agent and everyone would be making millions.

Let’s set the stage

The luxury real estate market is not limitless, but the opportunity is still there and vast. The inventory of luxury single-family homes in North America is approximately 40,000, many of which may be concentrated in luxury markets.

Who is buying?

North America has more than 240,575 high net worth individuals (individuals with more than $30 million in investments), and 27% of them bought new homes in 2020, and another 29% plan to buy in 2021, according to data compiled by Statista.

How much?

In the year Luxury homes stayed on the market for an average of 11 days in 2022, down from 38 days a year earlier in 2021 for all of North America. That’s more than a 100% difference, 110,204% to be exact.

Ultra-high net worth individuals are less affected by economic changes such as recessions, so there doesn’t seem to be any slowdown in sight.

How to get into luxury (this is what you’ve been waiting for)

Show your worth

It all ends and begins with your Unique Selling Proposition (USP). It’s a way to differentiate yourself in any market.

Start simple and build from there.

Define your long and short term goals, the ideal buyer/seller and honestly evaluate what your real estate business has to offer.

What do you bring to the table that other real estate agents don’t? A deep understanding of the market, decades of experience, a highly motivated network or an attractive personality?

From here you can put it in words. Keep it short and sweet. You should be able to explain what your USP is to anyone in 2-3 sentences. Do it internally and make it the focal point of your brand.

Create a seamless and intuitive presentation

Customers eat with their eyes first.

This culinary adage applies to many different sectors, especially real estate. 82% of sellers give a listing to the first agent they meet and 73% of buyers interview just one agent before deciding to buy a home with them. So, as a seller or buyer’s agent for a multi-million dollar property, you need to create print time. Like hatching a duck and developing a bond with the first thing it sees, agents need to position themselves and their digital brand to drive home that “print time.”

3 preparation rooms

1 – visual

Your website and digital presence come first. 95% of buyers have used online tools during their home search process, according to the National Association of Realtors.

You need to stop potential customers in their tracks because if they leave your site without publishing it in their memory, they are already gone.

To win, your online branding (website, social media and listings) must be consistent, concise and attractive. The look should communicate your expertise and savvy in your market and set you apart from your peers (in a good way).

Use a professional, confident color palette, fonts and a smooth, expertly designed logo based on the USP you want to communicate.

Tip: Creating professional, design-forward presentations and unique property websites can go a long way in solidifying yourself with sellers and buyers..

2 – Oral

Develop a writing style. Make it known. Use it across all your communication channels to create a lasting impression.

You can enter trigger words to help define your voice. Repeating a word or phrase and sprinkling it creatively throughout your marketing and branding can create an association that brings customers to you.

Maximize the impact of your words by using unexpected language, strong words, and emotions.

Most importantly, always write to your customers. This isn’t a vanity project, it’s a tool to help people find and claim your service offering.

Be careful about maintaining standards for these elements because they all communicate your value to customers in one way or another.

3- Emotional

People buy [into] Emotions.

Identify the emotional cues you want your USP, visual identity and voice to evoke in your audience.

These are the emotions that drive people to make purchasing decisions and the same emotions that bring you new customers:

Greed – “If I do X, I will receive Y.”
Fear – “If I don’t do X now, I’ll miss Y.”
Envy – “If I don’t get X now, you will get X.”
Pride – “I’m smart for getting X when I do.”
Shame – “I’d be a fool if I didn’t get X now.”

These apply to any transaction.

Know your market inside and out

Not much more to this. It really is as simple as it seems. Collect and retain as much information on your market as possible.

You need to be able to read information about your listing(s) down to the smallest detail, not just the highlight reel that you think will appeal to buyers.

Take a step forward by learning the history of your listing, market and general area. Putting the property in historical context helps fill the picture for buyers with a deeper understanding of color.

Here are a few tips to beat the information game

  • Explore the area. Get the lay of the land from the locals and make connections.
  • Visit a local historical society.
  • Map out landmarks in the neighborhood and read online reviews (with a grain of salt).
  • Read about the region in the local library.
  • Put together a comparative market analysis (CMA).

Be creative and go where other agents won’t within reason.

Build a network: It’s about who you know.

Meet people.

“I’ve always believed that communication is one of the most important things and life – one of the skill sets you learn. Why? Because, obviously, people do business with people they know and like.”

– Keith Ferrazzi, author of Don’t Eat Alone and former CMO of Deloitte

A straightforward approach to business is straightforward and it works. Build and manage your relationships effectively and it will pay dividends or in this case commission.

82% of real estate transactions can be made through referrals, which is an absolutely amazing figure. Especially when 65% of agents know they don’t make business from open houses.

It’s as simple as:

  • Use a customer relationship management (CRM) tool to track your contacts and relationships.
  • Record important dates like birthdays, major events, and anniversaries to use Moments to reach out to your network.
  • Block out time on your calendar for coffee or lunch with agents or buyers you want to connect with.
  • Reach out on social media without the pretense of selling or buying. Communication first, marketing second.

I’ve given you the tools to invest in millions of dollars in assets, but it’s up to you to put them to work. It’s easy to hit my point, but it won’t be easy. Getting to this level of real estate takes time, experience and effort.

If you have what it takes, Luxury Presence can help you get there. Click here to schedule a meeting with one of our experts to learn how.

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