Realtors who watch the show, who see me on TV, are always asking me how they can break into the luxury market.
There are a lot of ways that this can happen.
First, you need to be able to provide something of value and be well-educated about the luxury market in your area.
I go into a lot more depth in my online course, which is a ten-week Masterclass on how to get your first Million Dollar Listing.
One of the greatest ways that you can leverage your knowledge and persuade luxury clients to work with you is by providing them industry leading information.
Anytime you can help someone and give them something of value, it makes it easier to do what you want to do, by being able to leverage your skills and existing knowledge base.
Creating a Luxury Newsletter is one of my favorite recommendations for people who don’t have a lot of experience, connections, or prior history working in luxury. By putting out great information, you can essentially turn yourself into an authority who is able to answer questions and give fantastic advice.
This is a great way to accomplish two essential goals.
First, it will help you to establish a readership and get targeted leads from your website every week!
Each time someone visits your website, there’s a potential that they won’t want to buy a house right away. By enticing them to sign up for your email list and giving away something of great value, you can keep in contact with them on a monthly basis so that they don’t forget about you, and remember to come back to you when they are ready to buy or sell.
Here’s how you can set up your own luxury newsletter…
Step 1: Have A Luxury Website That Can Capture Leads
When I first got into real estate, websites were just starting to become a thing. Business cards and solid contacts were the main way that you marketed yourself. However, with the rise in social media, Google technologies, and other helpful ways to stay connected your website is your client’s first impression.
Every time you get a luxury lead, you can bet that they have already researched you prior to reaching out. The more that you are able to provide them with an ideal snapshot of your specialties, past success stories, and current listings–the better chance you have of snagging them as a client.
When you have a great looking website, people trust you. If your website is ten years old, people may think that you are lazy, or struggling so much that you can’t afford an upgrade. Both of these connotations are instant deal breakers.
So what should you do?
Hire a professional to make you a beautiful website.
I wouldn’t be a good salesperson if I didn’t shamelessly promote my new service offering, where our company does exactly that: create quality luxury websites at a price that won’t make your eyebrows fall off.
When you want to start a newsletter you have to have a lead capturing tool. Our software has an automatic pop-up that asks for this information in an email capture. This is the first step in the process because after you have the website, you can begin sending them your newsletter.
Only a great website is going to provoke them to want to leave their contact info. It doesn’t matter how strong your content is, if you don’t have the website to back up your luxury status, you are missing out on leads every single day!
With Flaggship Agent we give you access to a database of prewritten content that we help you personalize for you and your market.
We also give you a very powerful tool that can help you in your search for new prospects: prewritten email campaigns that help nurture your leads so they can grow into potential clients.
By giving great luxury content that fits your market you are positioning yourself as the local lifestyle expert in your market.
Step 2: Stay Up to Date on Luxury Home Trends
Have you ever talked to a mechanic who didn’t know what he was talking about? Maybe you have a new model, and he was insistent that they perform repairs based on outdated technology.
When this sort of thing happens, you run for the hills.
I can assure you that if you don’t know the market, luxury buyers will run away as fast as they can as well. Knowing your market is a valuable skill set, because it’s what gets people interested in wanting to work with you.
So how do you do this effectively?
Know architects in your local area who are artists at their craft. Being able to recommend, chat, and compare local service professionals who specialize in luxury real estate is infinitely valuable to your health as a high-end agent.
Be familiar with the latest and greatest in technology.
Read up on all of the new updates on security systems. Find out how to fix common bugs with smart home devices, so that you can show off some of your knowledge. Remember, a single comment can make or break a deal.
Step 3: Research the luxury market (as a whole) persistently
The luxury market is a huge industry–and it pertains to more than just real estate. Learning the ins and outs of this obscure market makes your clients feel at home when they speak to you.
It also is the first step to getting them to ask you for advice, which is something that will help you to become a trusted advisor.
In order to do this effectively, you need to read constantly.
Buy books on the issues surrounding luxury clients and ultra high networth individuals. Find magazines which discuss current trends, and follow content on social media that promotes interesting articles on similar topics.
You don’t need to know everything, but being able to hold a conversation on any given subject surrounding a luxury home, or it’s buyer is crucial to your success.
Also, don’t forget to ditch the purely local mindset that a lot of agents have. Know your stuff locally and globally. Remember, people have homes in more than one locale–so just being a locally minded realtor isn’t going to get you very far with luxury buyers. They have the means and the mentality to seek out only the best, no matter where they go.
Step 4: Become a Curator
Naturally, you will have to learn how to create topics on your own to share during your newsletter. But that doesn’t mean that you can’t cite and quote other interesting findings from other sources. Being seen on the cutting edge is important. And you can’t realistically tackle every issue in luxury each week.
One strategy that may work well is to share a lot of research and other articles from sites around the web. Then, take your favorites to write your own reactions, responses, and thoughts about. When you can make an informed piece of content for each of the subjects important to you, it will not only take less time, but have more of an impact on your readers.
This is a great way to share industry insights and provide great value without having to figure it out all on your own.
Also, don’t forget to share this information on social media, your personal blog site, or try to get guest posts. Getting featured with knowledgeable insight is one of the fastest ways to get your phone ringing off the hook.
Make sure to discuss your business and what’s going on in your work life. Recent wins and success stories can be incorporated into your newsletter.
But remember: make it about the clients and readers.
If you make it all about you, especially in the beginning–other people will be repulsed and probably unsubscribe. If you notice that your open rates and unsubscribe rates begin to drop off (which is normal as your list grows larger) you may want to check that you aren’t being one-sided.
Being a luxury agent means acting like a connector. Your brand image should be developed over time, but should always come back to providing impeccable service and information to your audience.
It’s also a great idea to interview local experts and offer to feature people who reach out to you. Asking for help and future connections to provide more value to your list can lead you to new sales, more connections, and better quality content.
By focusing on both experts from your local community and from out of state, you can be sure that you will grow your network around the country, and possibly the globe.
When you are working with high-end listings, it never hurts to have friends in high places!
Remember, it will take several months to a few years to get authority level engagement from your mailing list. Don’t worry about the size of your following, especially early on. Commit yourself to creating quality content and the rest will fall into place.