We get asked from time to time who are the best real estate agents for luxury homes. And honestly, it’s not an exact science. There’s all sorts of designations, friends of friends, great marketers and the like, but that isn’t the main issue in finding the best real estate agents for luxury homes.
The best real estate agent for luxury homes really depends on what it is you are looking for out of your agent. Some agents for luxury homes only take a few listings per year, others take many and delegate to team members. It’s important to know how that will work for your particular situation.
Now that we know what we need when we’re looking for the best real estate agents for luxury homes, let’s look at some of the things you might consider when working with your agent.
Who are you actually going to be working with? As with many things, branding is very important in the luxury real estate market. And that branding can cause issues when it’s time for your luxury home to go to the market for sale. When you meet with real estate agents, ask them who you will be working with? Is the first time you meet the agent on the sign the last time you’ll see them? That’s probably not a great sign if you are looking for a more personalized approach.
What is the luxury real estate agent’s business philosophy? Good agents know what they are doing, and they aren’t afraid to tell you about their business. For example, I started Deerwood Realty to cut through what I see in the real estate industry as way too much time spent on getting listings and not enough time servicing the clients after they’ve signed. I didn’t choose this philosophy as a sales gimmick. It’s the foundation of what we believe and how we look at the real estate market in general.
What is the luxury real estate agent’s plan for marketing your home? As the sale price of the home goes up, there is a smaller pool of buyers available for your home. The days of sticking a sign in the yard just aren’t going to cut it. At a minimum, your agent should be able to tell you what they will do, who the likely buyers will be, and how they will position your home. If they refer you to a slick marketing piece, they probably aren’t the best fit for your listing. You need someone who can communicate, not someone who can point to pretty pictures.
Luxury Real Estate Brands
The best real estate agents for luxury homes may have a luxury brand affiliation or they may not. Oddly enough, even the most luxurious of brands tend to take any listing that comes their way. Try to avoid worrying about the top luxury real estate brands and focus more about the real estate agent you will be working with. The process to list and sell a luxury home may take many months, and if you don’t have that all important ability to communicate freely with your real estate agent, there isn’t a brand in the world that will make that issue disappear.
The best real estate agent in St. Louis might be from a real estate brand completely different than one in say New York, Los Angeles, or Chicago. Relying on a luxury real estate brand over the real estate agent you choose to buy or list your home with is a certain opportunity for disaster with your transaction.
Additionally, watch out for real estate agents and brands that promise you some piece of exclusivity, like a so called “pocket listing”. These schemes are usually not put together with your best interests in mind. If a seller is truly interested in the sale of their home for the best possible price, they are far better off when all agents can tell their buyers about the home. When you have pocket listings, you never really get a good value because you are limiting your available offers.
Luxury Real Estate Buyers
Luxury Real Estate buyers also have many considerations to make when selecting the right luxury agent to represent them in a home purchase. Below is one of the more important questions to ask your potential luxury real estate agent
What is your experience with luxury home purchases? There are hundreds, if not thousands of real estate agents offering their services to you in a variety of different ways. Therefore, the person who advertises at your local grocery store might not be the best real estate agent to guide you in a luxury home purchase. Look for an agent that actually wants to help you buy a home. If you meet with an agent and the first things they talk about is a bunch of rules when they will show property and when they won’t, move on. The best real estate agents for luxury homes show houses when their clients want to see them. The agent works for the client, not the other way around.
The Best Real Estate Agent For Luxury Homes Salary
The real estate sales industry is based on commission, and only a few real estate brokerages have every really had any long record of success with agents on salary. That being said, when you are looking for the best real estate agents for luxury homes, you are going to want a real estate agent who is not too desperate for your sale. Many successful real estate agents for luxury homes have commissions in the millions year after year.
A Final Word On The Best Real Estate Agents For Luxury Homes
The most important thing you can do is work with an agent who is available and able to communicate with you. There are going to be issues that arise, and it’s important to have a foundation of trust built with your luxury real estate agent that allow you to move forward together when issues arise. Without this foundation, brands, credentials, salaries, aren’t going to matter.