What should a broker do for an agent who wants to list and sell higher-priced homes?
- Agents ought to pursue bigger and better “next level” listings with confidence and zeal.
- At the same time, they should make sure to market and sell their “current-level” listings with better attention and focus.
- Brokers must support this ambition and offer personal attention to help secure better listings.
In this monthly column, Anthony Askowitz will explore a hypothetical Miami real estate situation from both sides of the broker/agent dynamic. A successful agent has a solid track record selling mid-market homes but feels ready to tackle luxury-level properties.Source: inman.com
Agent perspectiveLike most people making their start in real estate, I began my career selling lower-priced homes. Over time, I learned valuable lessons and successfully listed and sold better homes in higher and higher price ranges. Now, I feel ready to take that next step and try my hand at selling some multi-million-dollar luxury homes. I know the agents who regularly sell these big-ticket listings, and while I respect and admire them, I know I can do just as well — if not better! My broker has always encouraged my career ambitions, but this is a major step up, and I hope he will be able to see me in a new light and provide the support I need to be successful. What should I expect from him and my company to help me break into the big leagues?
Broker perspectiveA real estate license allows agents to list any property under its scope. Support — or lack thereof — from a broker should be a non-factor in any agent’s decision to list a home she feels ready and able to sell. With respect to an agent’s confidence level about moving up to higher-priced homes, I have a personal story that may be useful. In 1989, when I was 22 and already a licensed agent, I made a mistake that I regret to this day. I shied away from the big-ticket listings (at that time, homes in the $500,000 range, equivalent to $4 million dollars today), choosing instead to target the $100,000 range as an area specialist and “farmer.” If I could go back in time (and don’t we all wish we could sometimes?), I would tell that 22-year-old that it takes the same time, energy and money to work a $100,000 home as it does a $500,000 one. Many agents fantasize about selling million-dollar-plus homes, but few understand that it requires a major change in mindset and focus. So when I have one who wants to go after the bigger fish, I highly encourage them and offer the following pieces of advice:
- Go where the money is! In other words, don’t go to the boat show — go to the yacht show.
- Get involved with a charity in which you believe; it’s an excellent way to connect with higher net-worth individuals.
- Join a good BNI or chamber of commerce group to meet more people who can recommend you.
- Produce very high-quality listing and self-promotional materials.
- Get to be known in the neighborhood you are targeting. Back in the early ’90s, when inline skating was all the rage, I had a friend who would skate the area she wanted to sell, and she made dozens of great contacts that way. If your skates are collecting dust, simply walk the neighborhood — and don’t be afraid to knock on a few doors.