How to Become a Successful Luxury Real Estate Agent

Real estate agents who are working in the luxury houses category are more adept at selling properties than other “regular” agents. This is because they are protecting the interest of very expensive assets and they are dealing with ultra-rich clients. If you want to be a successful luxury real estate agent, follow these guidelines: 

  1. Pay attention to details

Many Las Vegas luxury homes are usually large so it will be easy to miss important details about its construction and finishes. It will be hard for you to explain clearly to your clients the particulars of the structural components and other interesting features. To make sure you got all important details covered, write them down and study how you are going to present them to the clients. When the clients sensed that you know what you are saying, they will start trusting you and be more confident about their decision to buy what you offer them. 

  1. Be an expert

Since you are dealing with super-rich people, they are expecting more from you. They want you to speak intelligently and to make them understand the whole buying and selling process in a way that is easy to comprehend. They also want you be the “resource speaker” about the community. You need to know important details about the neighbourhood where the house is located at such as the recreational activities, restaurants, schools, hospitals, and so forth.  

  1. Build your network

If you want to market your listing and get leads, you need to “tie-up” with other professionals such as bookkeepers, bankers, businessmen, and other who’s who in your circuit. Don’t forget the help that your family, friends, classmates and other social contacts can do for you. They can provide not just moral support but with leads as well. 

  1. Marketing

Las Vegas luxury homes needs specialized marketing and top-notch strategies to appeal to the right target. In general, you will need professional photography and videography, floor plan, home details, and the history of the property. Make your property appear both online and print advertising. Organizing an open house can help but not necessary. 

  1. Be prepared for anything that can happen

The sad news is no matter how you well you present yourself to the clients they will still reject you for many reasons. If it happens, it’s okay. Move on to your other prospects. As long as you do your best every time, there is no need for rejection to pull you down. At the end of the day, it’s just work and you are still alive to prepare for tomorrow. 

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Las Vegas Luxury Neighborhood

True to its “world-class” reputation, Las Vegas houses the best hotels, casinos, and resorts. Within the city, you can find some of the most beautiful residences ranging from penthouses, single family homes, to big mansions. If money is never your problem, you can purchase a property or two at MacDonald Highlands or in other luxury neighborhoods. Houses in these areas are very minimal, ensuring privacy, security and lavish lifestyle.  

Here are some of Las Vegas’ luxury neighborhoods: 

MacDonald Highlands Real Estate 

This is the standard of luxury living. Located in Henderson, this 1200 acres of land is another gem of the city. The view in MacDonald Highlands is simply breath-taking. It is strategically located in the foothills where the residents can enjoy the views of the mountains, golf course, and the city, especially the bustling Strip.  The real estate is surrounded by the manicured lawn of the Dragon Ridge Golf Club which makes is look like an oasis surrounded with greeneries.  

The prices of the houses in MacDonald Highlands can start $600,000 and can go as high as hundred million, depending on the location, the size of the lot and the design of the residence. It is equipped with modern facilities, almost everything that can make your stay as comfortable, enjoyable and as peaceful as possible. 

Anthem Country Club Real Estate 

Anthem Country Club is a resort-like community built at the base of the Black Mountain in Henderson. The neighborhood provides great views of the city and mountains. One unique facility of this real estate is its outdoor amphitheater where the residents gather for community shows. It also has an 18 hole golf course, a fitness gym, and a tennis court.  The median price for a house in this community is $869,000. 

Queensridge 

A visit to Queensridge will make you feel as if you arrived in Europe after a 20-minute drive from the Strip. That’s because wherever you turn you sight in this neighborhood, you can always find European-inspired architecture and design. The richest residents can be found at the Peccole Ranch. Queesnridge only spans 800 acres, but its great amenities and stylish houses make it one of the most preferred neighborhoods in Las Vegas. Queensridge comes with state-of-the-art facilities which include a golf course, fitness center, a spa, swimming pools, a clubhouse, and tennis courts. 

Depending on the size of the lot and the design of the house that you will get, the price can be as low as $400,000 and can reach as much as $10,000,000. Because of the financial status of its residents, the neighborhood is gated and guarded 24-7. 

 

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Real Estate Market Trends You Should Know

Now that the year is about to end and a new one is about to start, it is always advisable for realtors to know the real estate market trends that are expected to happen in the next few months and in the coming year. The year 2017 may not be far from over but every realtor knows that this is not the year everyone in the real estate business wants it to be.  

The market trends in the real estate market will serve as guides for a realtor when making the marketing plan and financial decision. If you are a realtor, here are the trends in the real estate market that you need to keep an eye on: 

  1. The decline of property values

After World War II, property values are trending upwards, luxury homes in Fort Lauderdale are now quite expensive. But since 2006, the property values started to decline. In fact, it dipped down to almost 39% somewhere between the years 2007-2008, though the average decline between those years appears to be lower. 

  1. Buyer agency growth

Before, an agent tends to represent a single party only, either the buyer or the seller. That changed in the 1990s when the concept of buyer agency became widely accepted as both practical and uncomplicated. Buyer agency means that the realtor will work only in the best interest of the buyer. Before the buyer agency became popular, the state law assumes that the realtor is working for the seller. 

  1. Lower commission rates

A study in 2005 presented by the Government Accountability Office, it was found out that a realtor’s commission rate tends to be between 5 % to 7% of the property’s selling price. In 2007, the commission rates tend to go down. However, other alternatives for getting other sources of income for the realtor were put into practice. On top of the sales commission, they can now ask for a flat-fee, hourly rate, and for sale by owner tools. 

  1. Marketing trends

The internet becomes the most powerful marketing tool over the past few years. It will continue to be the main source or real estate property listings and market information in the coming years.  The National Association of Realtors estimates that 87% of the home buyers use the internet during their home buying process. They also said that one-third of the home buyers found their dream house online.  

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Understanding A Good Realtor

Before you start the very complicated and stressful process of buying or selling a home, you should have an idea of what makes a good realtor. Hiring an incompetent realtor will only add to the mountain of things you have to worry about. On the other hand, hiring a great realtor will ease your mind and give you someone you can trust with important decisions regarding your home. A realtor is there to make the process of buying and selling homes easier and more enjoyable. If you can avoid it, do not hire a realtor without a personal reference. Even if you have read reviews online, and checked out the company’s website, you never know who has written the reviews. The company could even be paying people to write good reviews. Talk to someone you love and trust, such as a family member or a colleague at work in order to find a great realtor. However, you should not blindly trust the person who gave the recommendation. Do your background research and make sure the realtor is qualified.

Realty is a business; plain and simple. You do not want someone conducting such an important business as selling or buying a home, with no experience in business. In addition to having some background with business, a background in financial planning as well as communications is a plus. There are many outstanding realtors who do not have college degrees, but all of them must have a license to practice realty within the state or province. If you see the letters GRI or SRES after your realtor’s name or company name, it means they have a realty certificate. The acronym GRI stands for Graduate Realtor’s Institute. The acronym SRES stands for Senior Real Estate Specialist. A realtor with these qualifications is bound to be experienced and knowledgeable. Realty is an art and the more education and experience a realtor has, the more success they experience in the business.

The more well-known and reputable your realtor is, the more clients they will have. This should not lead to you to being neglected as a client. A good realtor will be organized and knows how to allot their time appropriately. You should never have to wait a matter of days in order to get your phone call returned. Move on to a new realtor if you find this happening to you often. You should also not put up with a realtor who cannot keep an appointment. A good realtor is punctual and responsible. Of course, extenuating circumstances arise and appointments need to be rescheduled from time to time, but if it becomes a regular occurrence, take your business elsewhere. Their lack of commitment to you could result in you losing money.

If you ask a realtor for their resume, they should provide you with it. Look on their resume for their professional references and get in contact with them. It is rare for people to actually contact references, so you may find that the references they have listed actually had a bad experience with the realtor. Talking to someone who has worked with them in the past will bring great insight into their professionalism. There are not many things to remember when it comes to what makes a good realtor. A combination of passion, dedication, professionalism, and reliability should do it. When you can tell that someone likes their job and they do it because they genuinely want to help you, then you will surely be satisfied with the service they provide.

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