There is a golden opportunity for Realtors to break into the luxury home market. Lots of unsold homes. Disgruntled sellers. Unhappiness with existing luxury agents who aren’t getting the job done.
Established big name agents are vulnerable like never before. Sellers read about the roaring housing market, yet their homes sit unsold. Except for a few high-end markets sprinkled around the U.S., luxury homes sales are soft everywhere, with an average 200+ days on the market (DOM).
LUXURY HOME STATS
Check out these stats on Realtor.com. San Francisco ranked as the #1 hottest luxury home market in the U.S. with an average DOM of 48 days for homes priced in the top 10% tier.
Los Angeles, the 3rd hottest U.S. luxury home market, has an average DOM of 68 days.
Drop to the #15 hottest market, Santa Barbara, and the average DOM skyrockets to 225 days for the 10% priciest homes.
PAIN IN MOST LUXURY MARKETS
If it takes an average of 225 days to sell a luxury home in the nation’s 15th best market, imagine how many high-dollar home sellers are suffering in the other markets across the country?
This represents an opportunity for new agents to break into those luxury markets. How? By offering sellers an alternative, a different approach, a non-traditional home sale formula luxury home sellers can logically see will increase the probability their home will sell at top dollar in less than three months.
43% MARKET SHARE IN 24 MONTHS
When I decided to move up from a successful mid-price agent to a luxury agent I was unknown in our area’s luxury community. Several agents had huge, recognizable names and had dominated the list/sale action for 15+ years.
Yet after just 24 months I was taking a 43% share of the listings in this 5000 home luxury community. It happened for one reason. Just like today, the established luxury agents were asleep, doing same-ole, same-ole. Sellers were hungry for an alternative. I offered it. KaBoom, my business soared!
EVEN A BRAND NEW AGENT CAN DO THIS
My son, Casey, is only a few months in the business. He’s already listed and sold several $1M properties generating $100K+ in commissions. How? By offering luxury home sellers an alternative, a 75-Day Private Home Marketing Plan, a well planned home selling formula that makes established luxury agents look lazy and old school.
WHY ESTABLISHED LUXURY AGENTS ARE VULNERABLE
The Achilles’ heel of most established luxury agents is they succeed mostly because of their name. They don’t have or even try to develop a better home selling process. They’re fat and happy with their profitable status quo.
In fact, most big name luxury agents rarely even show homes. They just show up at listing appointments, impress the sellers, list the homes, and delegate the work to assistants.
DELEGATION ISN’T THE PROBLEM
The delegation part wouldn’t be bad if the agents who were delegated the day-to-day work had been taught a better luxury home selling process by their boss. But they’re not. Their big name boss just lists homes. The assistants order up a yard sign, put the homes in MLS, order photography and maybe compose a print ad (print ads rarely sell luxury homes, but are effective at impressing future sellers on listing appointments).
THE BOTTOM LINE?
Established luxury agents are vulnerable right now. You don’t need a big name. You don’t need experience. You don’t even need to know wealthy folks.
You need two things to start taking listings from them. An irresistible marketing message that makes luxury home sellers call. A listing presentation that compels them to give you a try. That’s what I will teach you.
WATCH MY WEBINAR ON HOW TO LIST LUXURY HOMES
The webinar below is loaded with how-to-list luxury homes takeaways. It’s well worth your time if you aspire to list big-buck homes.
And check out my affordable luxury home course at www.luxuryhomecourse.com. Not only will I hand-hold you to success, I will give you copies of my most effective marketing materials to make luxury home sellers call… all branded with your name and contact info. Full money back if you don’t love it.