Clearance: Your blueprint for winning multi-million dollar listings

Let’s get straight to the point. The method of winning multi-million dollar bids is simple. You need to:

  1. Have a flawless and recognizable presentation.
  2. Possess an unparalleled knowledge of your market.
  3. Build a strong and engaged network.

Don’t get me wrong, this is a simple list, but the work and process of building on it is not easy. If it were, everyone would be a real estate agent and everyone would be making millions from it.

Let’s set the stage

The luxury real estate market is not limitless, but the opportunity is still there and it is huge. The inventory of luxury single-family homes in North America totaled nearly 40,000, many of which are likely concentrated in luxury markets.

Who buys?

North America has over 240,575 Ultra High Net Worth Individuals (individuals with more than $30 million in invested assets), and in 2020, 27% of them bought new homes, while another 29% planned to buy in 2021, according to those of Statista compiled data.

At what price?

In 2022, luxury homes stayed on the market for an average of 11 days, up from 38 days just a year earlier in 2021 across North America. That’s a difference of over 100%, it’s actually 110,204% to be exact.

Ultra-high net worth individuals are less affected by economic changes like a recession, so a slowdown doesn’t appear to be in sight.

How To Break Into Luxury (This Is What You’ve Been Waiting For)

show your worth

Everything ends and begins with your Unique Selling Proposition (USP). This is how you differentiate yourself in every market.

Start simple and build from there.

Define your long and short term goals, your ideal buyer/seller and honestly assess what your real estate business has to offer.

What do you bring that other real estate agents don’t have? Deep understanding of the market, decades of experience, a highly motivated network or a charming personality?

From here you can put it into words. Keep it short and sweet. You should be able to explain to everyone in 2-3 sentences what your USP is. Embrace it and make it the focal point of your brand.

Create a flawless and recognizable presentation

Customers eat with their eyes first.

This culinary adage applies to a variety of disciplines, especially real estate. 82% of sellers make an offer to the first agent they contact, and 73% of buyers only consult a single agent before deciding to buy a home from them. So, as a seller or buyer of a multi-million dollar property, you need to create an imprint moment. Like a duckling hatching and bonding with the first thing it sees, agents must position themselves and their digital brand to bring that “imprint moment” home.

The 3 elements of the presentation

1 – Visual

Your website and digital presence come first. According to a report by the National Association of Realtors, 95% of buyers use online tools when looking for a home.

You need to stop potential customers because if they leave your site without imprinting it on their mind, you’ve already lost.

To win, your online brand (website, social media, and directory listings) must be consistent, concise, and compelling. The look and feel needs to communicate your expertise and competency in your market and differentiate you (in a good way) from your competitors.

Use professional, confident color palettes, fonts, and an elegant, professionally designed logo based on the USP you want to communicate.

Pro Tip: Creating professional, design-led presentations and individual real estate websites can go a long way in establishing yourself with sellers and buyers.

2 – verb

Develop a writing style. Make it recognizable. Use it on all your communication channels to make a lasting impression.

You can include trigger words that help define your voice. Repeating a word or phrase and throwing it creatively into your marketing and branding can create an association that will bring customers back to you.

Make your words impactful by using unexpected language, strong words, and emotional appeals.

Most importantly, always write for your customers. This is not a vanity project, but a tool for people to find and solicit your service offering.

Be meticulous about following the standards for these items as they all convey your value to your customers in one way or another.

3- Emotional

people buy [into] feelings.

Identify the emotional queues you want your USP, visual identity and voice to evoke in your audience.

These are the emotions that drive people to make purchasing decisions and the same emotions that bring you new customers:

Greed – “If I do X, I get Y.”
Fear – “If I don’t do X now, I’ll miss Y.”
Envy – “If I don’t get X now, they’ll get X.”
Pride – “I’m smart for getting X when I did.”
Too bad – “I would be stupid not to get X now.”

These apply to all transactions.

Know your market inside and out

There is not much more to this. It really is as simple as it sounds. Gather and retain as much information about your market as possible.

You should be able to recite information about your listings in minute detail, not just the highlight reel that you think will interest buyers.

Take it a step further by learning the history of your listing, market and general location. Placing a property in historical context can help fill the picture with profound color for buyers.

Here are a few suggestions to win the information game:

  • Check out the neighborhood. Get the location of the country from locals and make connections.
  • Visit a local historical society.
  • Map neighborhood attractions and read online reviews (with a grain of salt).
  • Find out about the region at the local library.
  • Prepare a Comparative Market Analysis (CMA).

Get creative and go where other agents aren’t ready, within reason.

Build a network: It’s about who you know

To get to know people.

“I have come to believe that connecting is one of the most important business and life skills you will ever learn. Why? Because people do business with people they know and like.”

– Keith Ferrazzi, author of Never Eat Alone and former CMO of Deloitte

It’s a simple maxim for a simple approach to business, and it works. Build and manage your relationships expertly and it pays off, or commissions in this case.

82% of real estate transactions come from referrals, an absolutely amazing number. Especially when you learn that 65% of brokers don’t get orders from open houses.

It’s as simple as:

  • Use a CRM (customer relationship management) tool to keep track of your contacts and interactions.
  • Log important dates like birthdays, milestones, and anniversaries to seize moments to reach your network.
  • Block time in your calendar for coffee or lunch with agents or buyers you want to connect with.
  • Reach social media without the pretense of selling or buying. First the relationship, then the transaction.

I’ve given you the tools to land multi-million dollar properties, but it’s up to you to make them work. To get my point across, it’s easy, but it won’t be easy. It takes time, experience and effort to break into this class of real estate.

If you have what it takes, Luxury Presence can help you get there. Click here to schedule a meeting with one of our experts and learn how.

About Cindy Johnson

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