Selling luxury real estate is not as easy as they make it look on T.V. It's definitely more complex than taking some nice pictures, throwing a fancy broker's open, and sticking a sign in the yard. Choosing the wrong agent can set you back in time, money, and leave you short at the closing table. So, I have created 7 questions for you to ask while interviewing realtors that will help you hire the right agent for the job.
- What kind of creative marketing/advertising will you use on my home? Most, if not all luxury homes are custom built and unique and can appeal to specific kind of buyers. People who buy luxury homes are already in a smaller buying pool so you want to know what their plan will be to find that specific buyer for your home.
- Do you have a database or network of buyers who can afford this price range? Any agent can list a home on MLS and hope for the best. However, agents who work in the luxury market have a larger data base and are already networking with potential buyers that they can call, mail, and share social media and/or other types of listing info.
- Is your database or network only local or out of state as well? A recent article on housingwire.com was able to show that the majority of buyers in local luxury markets come from out of state (with the exception of New York & California). An agent who specializes in luxury homes should be able to get marketing and listing details into other states either through their database/network or through platforms offered by their real estate firm.
- What kind of Social media presence and platform are they on? Numbers don't lie! A recent article by NAR (National Association Realtors) said 77% of realtors use social media to market their listings. It is also no coincidence that your top luxury real estate agents also have a very large and active social media platform. Just because an agent says they have over 30 years experience in real estate doesn't mean that they can be affective in the digital age, unless they are willing to learn.
- How good is your photographer/videographer? Due to the growing use of social media amongst realtors its more important now than ever to have the very best photographer and videographer. There are several companies that only specialize in real estate photography/videography and know how to creatively edit and showcase the images specifically for social media.
- Are you a full time or part time agent? This one is HUGE! My advice is to NEVER hire a part time agent. There is nothing part time about this job. Luxury listings require double the amount of work and it would be extremely difficult for a part time agent to successfully list, market, and sell the property.
- Do you work with a team ? This one is probably the least important. However, a good agent, whether in the luxury market or not, is usually busy and has multiple deals going at once. The "team" doesn't necessarily need to be a team of agents, but a support team could be a transaction coordinator to handle paperwork and contracts, an assistant to handle scheduling, events, and photo shoots, or a junior agent to help with showings and/or open houses. This can help to assure that you will not be forgotten, ignored, or neglected in the process.
Finding an agent that can confidently answer and fulfill these seven questions will give you the best chance of finding the right agent to sell your property for the most amount of money in the shortest amount of time with professionalism and integrity which should be the goal of every good real estate agent.
If you live in the Tulsa Metropolitan area and are in need of a real estate professional feel free to contact me at 918.991.4054 I would love to help!