Top 5 Qualities You Want in a Luxury Real Estate Agent – You’re looking to buy or sell your luxury home. Chances are you’re going to need a real estate agent. It’s no bed of roses trying to maneuver the real estate world without the help of an experienced agent. But you have a different home than most people. It’s higher end, considered luxury, not the average home on the block. You need a special agent; one that is well-versed in the luxury real estate market. So, what’s the difference and how do you go about finding the best luxury real estate agent for your needs, whether you are buying or selling?
Luxury real estate agent defined
What is a luxury real estate agent? A licensed agent or broker is a professional that handles just about any type of real estate transactions and can legally buy or sell property on behalf of a client. Most luxury real estate agents focus on the niche of luxury properties, typically valued over $2 million, especially in the Beverly Hills, Hollywood Hills, and LA County area.
Most of these luxury homes are made of premium materials and finishes providing the homeowners with the best amenities around, so it only begs the question of why you wouldn’t choose a luxury real estate agent.
Very few real estate agents are qualified to handle transactions with individuals who qualify as “ultra high net worth individuals” or UHNWI. These individuals will prioritize premium quality, location, pristine architecture, and high-end amenities. Most of these amenities include open floor plans, outdoor swimming pools, kitchens, spas, and smart home automation. You can quickly see how just your average Joe agent may not be equipped to handle these higher-end properties.
When choosing an agent or brokerage to sell your luxury home, here are the top five qualities to look for in a professional.
#1. An impressive network.
Specifically, if you are selling, but even if you are buying luxury real estate, having an impressive network of other real estate agents, potential buyers and sellers, connections to escrow, title companies, luxury home inspectors and appraisers all come in handy to offer the most top-notch service around.
While having direct client connections is favorable, it’s important that your agent works well with other luxury real estate agents, especially buyers agents. A smart listing agent has a network of connections to both sides of the industry allowing folks to get in touch with those that might be a good fit for the other side of the deal.
#2. Industry knowledge.
You certainly don’t want a green luxury real estate agent right out of the gate. They simply don’t have the industry knowledge, experience, or network to back up the type of service you need. The luxury real estate market is a beast all of its own and you want to verify that your hiring someone that not only knows the industry but will take the time to get to know your property as well. Homes can easily sell themselves if the brokers and agents have the best information from the seller.
Industry knowledge means the agent needs to do the homework to get to know the property, the market, the neighborhood, and potential target demographics.
#3. Understanding the etiquette.
In every niche market, there is an understanding of etiquette that goes along with dealing with all parties involved. Marketing techniques, communication, or even luxury homes sold off the market, needs to be handled with the utmost care. When selling a property, and invite only event for top buyers agents in the area may be the etiquette that your property needs. Pocket listings, exclusive selling options, and private showings all enhance the epitome of a luxury home sale. It’s crucial that your agent understand the etiquette and communication when marketing or even helping you negotiate the purchase of a luxury home.
#4. Excellent marketing.
Clearly, this is primarily for homeowners and sellers but luxury real estate agents must be strong marketers. 90% of today’s buyers find prospective homes online so your agent either needs a plethora of high-end buyers at their disposal or can market specifically to the online target demographic. Creating videos, excellent photos, and high and customize websites for property listings can all add to the sophistication and luxury marketing of a property.
Even beyond industry knowledge, experience is probably one of the top qualities to look for in a real estate agent. Nothing beats experience. Ask your potential real estate agent about how many homes they sell the year and at what price point. Do they have the time to take on another client? How long have they been in the business? How long of a specialized in luxury real estate? All of these answers can offer a more informed decision on whether or not the agent is appropriate to help buy or sell your property.
As a luxury real estate agent in Los Angeles County, I specialize in high and listings with the experience and industry knowledge that sets me apart. For expert buying or selling representation throughout LA County, contact my office at any time. I’d love to help you find the perfect home for your needs or get your home sold quickly for top dollar.
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