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does anyone work in luxury real estate?
Old 12-12-2007, 03:54 AM   #1 (permalink)
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clyde_wrestler_5 is offline
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Default does anyone work in luxury real estate?

I am in college right now and am considering working in the real estate field dealing with luxury homes. I wan wondering if their were any agents who could give me tips on getting started or possibly even answer some question sI have through email or IM. Thank you so much for any help!
 
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Old 12-12-2007, 04:04 AM   #2 (permalink)
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Johnny A is offline
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good luck...hard industry to break into...usually its "know someone"
 
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Old 12-12-2007, 04:10 AM   #3 (permalink)
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venicefloridarealtor is offline
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Luxury, high end real estate is within your reach if you create a business plan, and work that plan.

1. Join nonprofit, community service or charity related organizations - give your time and energy SINCERELY and for free, and make yourself known and respected as a caring individual. Work your way into the ones involving the local arts, music, major fund raising, or political events aiming to get on their boards or positions of major responsibility. This takes time - have patience. You will meet many interesting people - let them all know you are in real estate.

2. Park your license with a superior broker, preferably one specializing in luxury homes. As a newbie, this may be hard to do, but look for brokers that include a luxury home marketing package (for example, my broker, Prudential Florida WCI has a special program for luxury homes). Take the training and learn everything. Become an expert. Again, this will take time, but your clients will expect you to be totally sharp on everything from real estate law, title, insurance, tax law, marketing, investments and wealth building. If your college offers some good classes in these areas - take them, and be ahead of the game.

3. Have some $$$ in the bank. High end homes require high end, glossy and EXPENSIVE advertising that will necessarily come out of your pocket from day one. Be ready for it. Expect to pay anywhere from $5,000 - $50,000, or more, per year, to promote yourself and your luxury properties, depending on how many you have, your local market, and your broker's package for high end homes.

Don't be afraid. If this is your passion, go for it. But nothing comes cheap or easy - whether you are selling champagne or beer. A career in real estate takes time, frequently years, to get solid. And $$$ in the bank to see you through and pay your business expenses.

But you can do it. Good luck and best wishes.
 
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