Above: Liz Hogan, Michael LaFido, Riezl Baker, Michael Altneu
Working with affluent buyers requires a unique set of skills and knowledge—and a commitment to go above and beyond to ensure that high-net worth clients get the personal, hands-on experience they’re looking for. With continued growth expected in the luxury sector through the remainder of 2024 and beyond, we asked some of our 2024 RISMedia Real Estate Newsmakers the following question:
“What makes a luxury real estate transaction unique, and how can agents working in this niche stay ahead of the competition?”
Here’s what they had to say:
Achievers
Liz Hogan
Vice President of Luxury Sales
Compass
“Doing business with a luxury client often involves a higher level of personalization, attention to detail and exceptional service when compared to other transactions. Luxury clients typically expect exclusivity, discretion and tailored experiences, while wanting to keep all information extremely confidential. High-end transactions typically require extensive market knowledge, incredible attention to detail, strong negotiation skills and a robust network of contacts to meet the sophisticated demands of these clients. Luxury agents such as myself compete against one another by establishing a strong personal brand, leveraging their network and showcasing their expertise in high-end markets. Additionally, they provide unparalleled customer service, maintain a deep understanding of market trends and cultivate relationships with affluent clients and industry influencers to stay ahead.”
Crusaders
Michael Altneu
Vice President
Coldwell Banker Global Luxury
“I’m a firm believer that every client and transaction, no matter the price point, should be handled with the same level of detail, knowledge and expertise. While certain price points might define a listing as luxury, it’s the level of understanding and first-hand experience that allow agents to fully service their clients. At the very core of what we do, it’s the individual that powers the transaction and sets agents apart from one another. The most successful luxury agents are the ones who are constantly in touch with their sphere of influence, ingrained in the flavor for the areas they service, providing an intrinsic value and level of detail and understanding that no one else can.”
Crusaders
Michael LaFido
Owner
Fast Real Estate brokered by eXp Realty
“Trust is the most important quality a high-net worth individual looks for in my experience. An agent’s network and their marketing plan are just as crucial…First and foremost, it’s not good enough to do a good job for your luxury clients. You need to wow them during their transaction. Amazing customer service, VIP support and unexpected authentic surprises along the way.”
Influencers
Riezl Baker
Co-Founding Principal/REALTOR®
Luxury Lake Oconee Real Estate Group
“Luxury clients expect nothing but the best. They’re accustomed to premium service in all aspects of their lives, and expect the same in real estate. This means providing a high level of service, being available around the clock and meticulous attention to detail. Luxury clients are often well-versed in market trends, and they expect their REALTOR® to have an in-depth understanding of the market to help them make informed decisions. As a luxury REALTOR® for 24 years, I believe that one of the most crucial elements for success is deep market knowledge. You have to exemplify not only an innovative approach, but have a profound understanding of your area.”
Visit https://www.rismedia.com/2024-newsmakers to learn more about this year’s RISMedia Real Estate Newsmakers.
