Luxury real estate is intimidating. What are the factors that make it different from the normal market, and how can agents display the expertise and mindset needed to break into it? On this episode, real estate expert, coach and speaker Patrick Lilly shares insights on tapping into the luxury market and dominating it.
You have a moral obligation to steer your clients towards what’s best for them. -Doren Aldana
- Luxury sellers want to list with people who have sold the same kind of properties.
- Affirmation, visualization and education help you overcome limiting beliefs, but it has to be embedded in your daily routine.
- Chasing leads is expensive in terms of dollars and time spent, building relationships to get referrals costs less.
At the start of the show, Patrick shared his career path and how he worked his way to luxury sales. He also talked about characteristics of luxury clients, and what they seek in agents, “their expectations on service are different from a first-time buyer.” We went on to share insights on developing relationships as a method of getting referral business. Towards the end of the show, we talked about the limiting beliefs that make it hard for agents to increase their ticket price and scale up.
Patrick also gave his perspectives on:
- Borrowed credibility and leveraging a collaborator’s skills and clout
- Spending less money on lead generation by seeking more referrals
- The difference between being a trusted advisor and someone who wants to win a lead
- Why following the news negatively influences your perception of the world
- Looking inward and how that helps you discover your own limiting beliefs
The wealthy and famous may expect different things, but ultimately they are same as all of us. They are driven to get a person who can serve as a trusted advisor, not just another agent gunning for a listing. They want you to show a track record, so engineer your business to exceed expectations. When you hold that client’s interest at heart and not your own, you go far in earning the trust factor and being a conduit of their joy.
Patrick is a Real Estate Broker, Life Coach, Speaker, and a World Traveler. He has been a successful residential real estate broker in Manhattan and Brooklyn for the past 30 years. Having sold over a billion dollars of real estate and more than 1,000 homes, Patrick's team is consistently ranked as one of the Wall Street Journal's top 250 teams in the nation. For more information go to www.PatrickLilly.com, or PatrickLillyTeam.com