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Break into the High-End Real Estate Market

Jan 22, 2019 8:39:24 PM

What’s the appeal of working in the high-end market, you ask?

The answer is pretty simple. The higher the purchase price, the higher your commission. You can list fewer houses and make more money doing it.

But breaking into the high-end market can be a challenge — unless you have a secret weapon in your arsenal.

“My book is setting me apart as an ‘excellent’ Realtor with the high-end clients. They add that element of credibility. One client said she would have gladly paid for the book. She couldn’t believe I was giving it away for free.”

One of our members, Liza, has found tremendous success targeting high-end leads with her books.

“My sense is that the higher-end client is impressed by the book because they're used to excellence, so in their own career, or whatever. I think a book for those people is setting me apart as excellent. That's where the relatable factor is. The book has gotten me more high-priced, higher-priced homes, than lower-priced for sure.”

So what is it about the books that’s so impressive to high-end clients? And how can you use the books to break into the high-end market?

Why do the books work with high-end clients?

We’ve said it time and time again. The books make you look like an expert. Whenever you hand leads your book, you immediately set yourself apart from the dozens (or in some cases, hundreds) of other agents in your market.

The books make you look like the best of the best — and that’s exactly who high-end clients want to work with.

High-end clients have a lot of money at stake. They stand to lose — or gain — far more than your average real estate client. That’s why they won’t trust just anyone to list their homes.

Sure, they’ll look at your close rates and consider referrals from other people who have sold high-end properties. But chances are, in a sea of seemingly great choices, you’ll be the only one handing them a book. That’s the advantage you have to work.

Presentation is key.

How you deliver your books to high-end clients can be just as important as handing them out in the first place.

Here are some tips to capitalize on your author power.

Dress to impress.

When you’re trying to impress high-end clients, appearances are crucial.

If you’re dropping off your books at people’s doors or bringing them on listing presentations, you need to make sure your appearance makes a positive statement.

This isn’t the time for a wrinkled dress shirt or scuffed shoes. If you want to impress high-end clients, you have to dress like someone you think they’d respect.

Have your best suits dry-cleaned, invest in a new pair of professional-looking heels, or have your makeup professionally done.

Also pay attention to your color choices.

Shades of blue are soothing and can help you establish trust. Shades of red portray confidence and power. Decide the impression you want to make, and choose your outfits based on that.

Perfect your book package.

Whether you’re mailing out your book or leaving it on someone’s doorstep, you need to make sure it actually gets into the hands of potential clients.

We have two book packages you can send to sellers.

  • Simple & Easy Book Package.

  • Advanced Book Package.

There are two different ways you can get the package in the seller’s hands:

  • Drop-Off Package.

  • Mailed Package.

Let’s start with all of the different options for getting your package into sellers’ hands.

The Mailed Package. Insert your book and package contents inside a bubble mailer. Once you’ve got your books packed up, go to the post office, buy stamps and mail them to your leads.

Here’s an example of the book being put into a Bubble Mailer.

Here’s an example of the book being mailed in a Bubble Mailer.

It costs about $2.85 in postage to mail the book in this bubble package.

Where to buy the Bubble Mailers:

The Drop-Off Package:

If you want to drop your book off on the seller’s door, put it in into a Ziploc Bag and lean it up against the front door.

Here’s an example of the book inside a Ziploc bag left at the door:

Now that I’ve shown you how to get the package into the seller’s hands, let’s look at the different package options.

The Simple & Easy Book Package:

I’m not a big believer in complicated things — even with high-end clients. So, here’s what I do for my book package. I just print out a cover letter that explains why I’m sending the owner my book. Then, I insert it inside the book — almost like a bookmark. Then, I send that out. It’s worked very well.

This simple package landed me 29 listings in 120 days:

Here are some pre-written cover letters you can use:

The Advanced Book Package:

If you want to ramp up your presentation, you can add additional marketing materials to your book packages. Some agents like to add their Marketing Plan, Testimonials, a Marketing Comparison Chart, Reference Letters, etc. They start with the Cover Letters in the simple package, then add materials.

Remember, adding these materials is completely optional. But, if you want to do it, links to all of the additional marketing materials are below.

Here’s an example of the Advanced Book Package:

Optional Marketing Material For Your Book Package:

You can modify these documents to match the leads you’re reaching out to and the way you do business. You can insert the documents in your book package — before or after your book.

Agent Comparison Chart

Use this chart to compare what you do versus what the average agent will do to market a home. You can modify this chart in Word.

Marketing Plan

Use this sample marketing plan to illustrate what you offer and how you market the homes you list. Feel free to modify this document to match what you will do to market your client’s home.

Reference Letters

Add testimonials and references from customers and colleagues to this document.

Photo Brochure

Our agents use this photo brochure when they mail or drop off a book package to leads. They print it on a hard stock 11×17 piece of paper and fold it in half.

Hand your books out at high-end open houses.

To work this strategy, you need to either land your first high-end listing or volunteer to host an open house for a veteran agent working the high-end market in your area.

You can also offer to cold-call or post to social media on their behalf. Just let them know your intention isn’t to poach their clients. You just want to get acquainted with the market so you can establish your own career and build your own client base.

Likewise, forming a business relationship with someone already succeeding in a nearby market can open the door to your success. Not only can you learn from their triumphs and failures, but you can also learn insider secrets to succeeding in your area’s high-end market.

Finding an agent in a similar — but not the same — market reduces the threat of you encroaching on his or her territory.

More success stories

Liza isn’t the only Smart Agents member killing it with high-end clients.

With the help of his MyBooks, Greg landed a $2.2 million listing, which went under contract in less than 30 days. Then, those sellers bought a new $1 million property within a week of closing. Previously, Greg’s highest listing had been in the mid-$500s.

This seller appreciated that the book was something different than what other agents were sending. He looked through the book, which introduced him to Greg even before he followed up.

Greg also landed a $1.275 million listing and a $399,000 listing directly linked to the books.

Now that he’s sold higher-priced properties, Greg has proof to give other potential clients.

Smart Agents member Steve is a full-time managing broker who specializes in high-end expired and withdrawn listings.

Since he doesn’t have a lot of spare time, he doesn’t actively pursue listings unless they are high-priced and conveniently located.

Without a lot of effort, Steve has managed to get half-a-dozen listings all over $500,000 in only 10 months.

He has a creative way of meeting potential (and interested!) clients face-to-face so he can do a more personalized and effective sales pitch.

#1: He makes a photocopy of the book cover and sends it with a note saying homeowners should contact him if they’d like a free copy of his book — a $19.95 value.

#2: When interested sellers reply, Steve sets up an in-person meeting if they’re local and mails the book if they’re not. When they talk, he gives his customized sales pitch on how to sell the person's home based on research he’s already done.

#3: An interesting note: Sometimes, he doesn’t even give away the books — people are so impressed by the fact that he has a book that they list with him based on that fact alone.

Get your own.

If you're trying to break into the high-end market and haven't yet invested in our business-changing tool, you might want to think again! 

A Smart Agents MyBooks membership includes:

  • License to use 14 real estate books as your own.

  • Author website that can rank for your name in Google.

  • Your own blog with 100+ pre-written articles.

  • Social media marketing templates.

  • Home value website for capturing leads.

  • Training strategies on how to use your books to get business.

Get a free sample of our most popular book below! 

 

avatar_joeJoe Nickelson is a real estate professional dedicated to helping home buyers and sellers achieve their dreams of owning property, and helping real estate agents stop using the sometimes-vicious tactics that weigh on their consciences. He believes that the Smart Agents books will, quite literally, change people’s lives for the better. Check out his full bio here

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