Let’s face it…times have changed and so have buyer and seller preferences! Today’s highly affluent consumers are putting more thought into the value and quality of homes; and are doing more in-depth research on their own. Internet research has made finding information consumers need as easy as a finger flick on a smartphone. Therefore, real estate agents are looking to continue their education of the luxury marketplaces and being able to spread that knowledge just as quickly. Consumers are in need of instant gratification from their real estate agents. They want the best for their money (amenities that are suited for their families) …which is a given for anyone making such an expensive luxury purchase. So exactly what are consumers looking for in an agent these days?
Recently, Luxury Portfolio International has conducted a study with Harrison Group that talks specifically about what today’s luxury consumers need. First and foremost, they want an agent that will have knowledge of global reach. Other criteria include reputation with colleagues, length of time for past sales, the number of homes currently listed and level of trust with the agent. You want to make sure that you are choosing the right person with your home. Trust also includes knowing that your agent won’t let you down and will continue to keep you informed throughout the selling process.
Comprehensive marketing will always help the real estate agent get a listing. According to Luxury Portfolio, when consumers were asked about the qualities of an organization that they would like their own agent to be affiliated with, 82% responded with,“is part of a strong network.” And because William Raveis Real Estate is affiliated with Luxury Portfolio International, our agents are getting the best global representation for our high-end real estate consumers. Consumers also want to see that the agent is promoting homes online-via websites, social media, digital magazines, etc. In the survey, about one-quarter of affluent and wealthy consumers say that it is desirable for their agent’s company to have their own dedicated real estate magazine. (Something that our Exceptional Properties Division does offer! Take a look at our most recent magazine: http://www.raveis.com/zmag.asp?id=f845f17d&type=D).
Good web tracking tools are also a key component in attracting the high-end consumers. The right tracking tools will allow the consumers to see how many people are looking at their property and from where they are getting the most views-whether by country, language or currency. This would help the agent with knowing where to focus property advertising and what sources receive the most traffic for online home searching.
Needless to say, today’s highly affluent consumers are in the know when it comes to picking the right agent. So ask the right questions, know the consumers interests and passions; and you’ll be guaranteed a new partnership!
Posted by Leah Portale, Global Marketing Coordinator, William Raveis Exceptional Properties+ in Exceptional Properties, housing affordability, Market Trends, Selling Your Home, Social Media, Technology
Tags: how to choose a real estate agent, luxury homes, luxury properties, luxury real estate, Raveis, real estate in ct, real estate technology, William Raveis
September 22nd, 2011 at 10:09 pm
I couldn’t agree more Leah! Selecting the right agent and brokerage in today’s economy is vital regardless of the price range, but even more so in the luxury space. We see this quite regularly in corporate mobility. The c-suite is moving, but under a much more powerful microscope. There are few (if any) blank checks being written to help executives move from one location to another. This places the pressure of home disposition squarely on the backs of the real estate professional. And we require our agents to be knowledgeable and use the comprehensive marketing tools you suggest.
Of course in the interest of full disclosure, yes, you are my daughter. However, I would have provided this commentary regardless. So well done!