How To Attract Those Affluent Buyers And Sellers In Your Luxury Market

Some luxury agents in different locations are going to be doing different things than you and that’s alright.

In Beverly Hills they might have a limo that takes you on showings. They have the opportunity to sell $15 or $20 million homes there. If I was in those markets, I’d probably be renting limos and dressing in Armani suits too. But that’s just not my market.

I drive a Silverado pickup truck with the outside of the truck dirty and muddy floormats. In my market, that’s acceptable.

One thing I’ve learned is the perception a lot of people have about affluent buyers and sellers. They say they aren’t comfortable calling on the wealthy because they think they aren’t one of them. Most of the affluent have earned it themselves. They’re first generation wealth.

There are affluent people who have worked very hard to obtain their wealth. Then there’s the ones that may be jerks or snooty from what was passed down to them. You may not want to work with them.

I’ve also learned affluent peoples’ perception of themselves is Midwestern values. Most people, around 60 to 70% of the affluent, believe that they’re not wealthy. They believe they may know that they’re wealthy, but they still have Midwestern values.

That doesn’t mean if you’re on the East coast or West coast and the person is self-made, that they have core family values or core work ethic values.

Because they have worked so hard, they expect you to do the same for them. So the affluent want you to be very professional. They expect you to show up and for you to know your stuff. Go over prepared. You still may not have all the answers but be a professional.

In your listing presentation, you do need to be a little salesy. You don’t have to be pushy, but you need to be prepared. Ask closing questions and control as best you can. You need to understand the nuances of the questions and the personality types of a couple.

Align yourself with them in the presentation so that you understand what their needs are. You might have a scenario where you say, wow, I’m not your person. They may be very unrealistic relative to their expectations about the market and the price point of their home.

Always look at the numbers and present it to them and say, what do you think? If it’s your personal opinion, that’s not a good thing. You’re generally not going to be favorably thought upon because they’re going to shoot the messenger.

There are many aspects that go along with the affluent buyers and sellers. Use what works in your location. Be a professional and be prepared. There are some you may not want to work with and that’s okay.

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