To excel in today’s market, what should a luxury agent focus their attention on? Jeannette: You always have to know your product, your numbers, and the inventory. But because the market is shifting, luxury agents need to get really good at forecasting. You have to know where the market is going. Agents can’t control the interest rates or global happenings. But we can control our preparation and knowledge, so we can bring our clients information that will help them. You should be thirsty for data and information from all different sources. I use resources like Wealth-X, Knight Frank’s Wealth Report, and other third-party trend reports. Trusted economists or financial advisors are also great sources. And because real estate is so hyper- local, we must provide grassroots information in addition to global-level information. You have to be able to share insight that they can’t get on Google or elsewhere and be confident in what you’re saying to them. Otherwise, they don’t need you. How has a partnership with PLACE helped you to succeed? Jeannette: I personally feel like there is no other business, even outside of real estate, that has the dedication to the personal and professional growth of every single individual like PLACE does. And that can create a really big business and meaningful freedom for agents and business owners like myself. Having a day-to-day business is over, and with PLACE, you are really creating something that is sustainable.
Tips from PLACE’s Top Luxury Agents
“The success of my luxury business has always been because of intentionality in my relationships and activities. I put myself in the right room with the right people. Whether it be in a boardroom for a charity, on the golf course at the right club, or locking arms with other business leaders in my community, I always want to be adding value to key people in my commu- nity. I always have two things top-of-mind when heading into those rooms: One, expertise in the market and two, knowing what makes me different from my competition, and how it benefits them.” — ADAM DOW, OWNER/OPERATOR, DOW REALTY GROUP “Market your listings to international buyers. We have seen an influx of international buyers bringing money back to New York in the past few weeks. Work your database and be a matchmaker. Bring listings to your past clients who may not even be in the market to buy. Buyers continue to put their money into hard assets, one being luxury real estate. The market is there. Focus on who the buyer will be. Differentiate yourself from other listing agents with the best marketing; your marketing is your brand and will help you get your next luxury listing. Hire the most talented photographer and videographer you can find, and give it your all. Be realistic with your sellers and let them know if you believe the price should be dropped in a shifting market. Stay in front of them weekly.” — NICOLE GARY, OWNER/OPERATOR, NICOLE GARY TEAM “In this market, you need to put 30% more effort into basics, and 30% more effort into lead generation, contacting clients, and building relationships. You have to build your relationships with clients at the right price point; I always reach out to past clients and remind them I am their resource for anything they need for their home. This often leads to referrals.” — CESI PAGANO, OWNER/OPERATOR, CESI PAGANO & ASSOCIATES “Tap into your partnerships to elevate your luxury business. Partnering with PLACE has given me a larger platform and access to the highest producing agents across the country. I received an $8 million referral from another PLACE Partner and I was referred an $11 million client. PLACE also helps with getting visibility to press releases and social media. It is so helpful to tap into a network of the best minds!
— ELIZABETH OLCOTT, OWNER/OPERATOR, ELIZABETH OLCOTT & ASSOCIATES
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