Breaking into the luxury market is rarely easy. First, it’s extremely competitive – and second, buyers and sellers in the high-end market are demanding. They deal with big budgets with little room for error, and they want to work with advisors they trust.

So, how do you become a trusted advisor? Here are seven tips from the pros:

1. Have patience – Gain practical experience and refine your client skills. Practice white-glove service. Build a record of satisfied customers, and put the best reviews on your website.
2. Educate yourself – Do a deep dive into the neighborhoods you want to work in. Become an expert in the stylistic features, the average price per square foot, what makes a property most desirable.
3. Know the trends – Market research can provide invaluable insights into target demographic behavior, including the types of real estate that high net-worth individuals are currently interested in and the preferences of your ideal clients
4. Find a mentor – Credibility counts. Shadow a willing luxury agent. Offer your help with open houses or special events to see and learn how the agent works and become associated with high-end clients.
5. Invest in your image – People tend to judge you by how you look. You don’t need to wear Prada or drive a luxury car, but dress as smartly and professionally as possible.
6. Do some high-end networking – Put yourself where the money is. It’s the best way to make connections. Attend charitable events and fundraising galas. Join professional organizations. Build relationships with interior designers, financial experts, and luxury car dealerships. They have the clients you want to reach.
7. Invest in your CLHMS™ designation– A recent study by one of the world's largest real estate brands found that among their agents, those who earned and maintained the Certified Luxury Home Marketing Specialist™ designation averaged more commission income than agents with any other designation.

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This material is not intended to be relied upon as a statement of the law, and is not to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice. The material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. Intended for distribution to only one per individual for marketing purposes only on behalf of our company. Not for reproduction.

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