I recently read an article written by a Certified Luxury Home Marketing Specialist (CLHMS designation offered by NAR), and I wanted to share some tips with you on how to break into the luxury home market.
In addition, consider studying the lifestyles and habits of the rich. A great book to read is The Millionaire Next Door, which debunks the theory that the truly rich are not who you think they are.
Get familiar with the luxury lifestyle.
- Visit luxury homes and get familiar with the types of upgrades included—especially kitchens, baths, and landscaping.
- Check out the garages – usually 5 to 10 stalls; finished walls and tile floors. A bathroom. Maybe even a high-end toolshed.
- Learn the luxury brands of cars/antique cars and know what they cost to acquire.
- Visit showrooms where high-end home finishes and décor can be found. Learn the prices and what sets them apart from standard finishes.
- Attend high-end antique auctions. The rich look for unique items that nobody else has.
- Attend the theatre. Join a country club. Join a boat club. Go to high-end restaurants.
Learn the luxury buyer profile.
- Read magazines. Yachting. Car & Driver. Luxury Home Magazines. Jet Set Magazine. (Find them in your library.)
- Read books about wealth or famous people.
- Learn about how they acquired their wealth.
Develop excellent manners.
- Take a course on social manners.
- Learn table manners. How a table should be set. What silverware to use.
- Know what food courses are in a 7-course meal.
The rich are different. Read. Listen. Learn how they think. Why they make the choices that they do. Why some like to display their wealth while others don’t.
You don’t have to be wealthy to work with rich clients as long as you can “talk their language”.
What else would you add to this list?