Top: Liz Hogan, Michael Raffid, Lietzl Baker, Michael Altnew
Working with high-net-worth buyers requires unique skills and knowledge, as well as a commitment to doing everything in your power to ensure your high-net-worth clients get the personal, hands-on experience they are looking for. With the luxury housing sector expected to continue to grow in 2024 and beyond, we asked a few RISMedia real estate newsmakers the following question:
“What is unique about luxury real estate transactions, and how can agents operating in this niche sector stay ahead of the competition?”
Here are their comments:
Achievers
Liz Hogan
VP Luxury Sales
compass
“Dealing with luxury clients demands a higher degree of personalization, attention to detail, and exceptional service than other transactions. Luxury clients typically expect exclusivity, discretion, and a customized experience, while also wanting all information to be kept strictly confidential. Luxury transactions typically require extensive market knowledge, incredible attention to detail, strong negotiation skills, and strong contacts to meet the sophisticated demands of these clients. Luxury agents like me compete with each other by establishing a strong personal brand, leveraging our network, and showcasing our expertise in the luxury market. Additionally, they offer unparalleled customer service, have a deep understanding of market trends, and foster relationships with affluent clients and industry influencers, giving them an edge.”
Crusades
Michael Altnew
vice president
Coldwell Banker Global Luxury
“I am a firm believer that every client and transaction should be treated with the same level of detail, knowledge and expertise, regardless of price range. While a property may be considered luxury at a certain price range, it is the level of understanding and first-hand experience that allows an agent to serve their client well. At the root of what we do is the individual who drives the transaction and distinguishes one agent from another. The most successful luxury agents are those who stay in touch with their sphere of influence, are deeply rooted in the atmosphere of the areas they serve, and provide an intrinsic value and level of detail and understanding that no one else can.”
Crusades
Michael Raffid
Owner
Fast Real Estate Brokered by eXp Realty
“In my experience, the most important quality the wealthy look for is trust. An agent’s network and marketing plan are just as important. First and foremost, it’s not enough to do a good job for high-end clients; you need to wow them during the transaction – with great customer service, VIP support, and some unexpected and genuine surprises along the way.”
Influencer
Liesel Baker
Co-Founder/REALTOR®
Luxury Lake Oconee Real Estate Group
“Luxury residential clients expect only the best. They are accustomed to premium service in all aspects of their lives and they expect the same in real estate – to be provided with a high standard of service, around the clock availability and meticulous attention to detail. Luxury residential clients are often well versed in market trends and expect their real estate agents to have a deep understanding of the market in order to make informed decisions. Having worked as a luxury residential real estate agent for 24 years, I believe one of the most important elements of success is deep market knowledge. Not only must you demonstrate an innovative approach, but you must also have a deep understanding of your area.”
For more information about this year’s RISMedia Real Estate Newsmakers, visit https://www.rismedia.com/2024-newsmakers.
