In the latest RISMedia webinar—“Breaking into the Luxury Market: Tips for Agents New to the High-End Market”—panelists included Jack Cotton, an agent and Realtor® with Sotheby’s International Realty; Mor Zucker, team lead of Team Denver Homes of LIV Sotheby’s International Realty; and Anam Hargey, team lead and broker with @properties Christie’s International in the North Shore of Chicago. The event was moderated by Louise Phillips Forbes, a broker with Brown Harris Stevens in New York City.
The panelists emphasized the importance of expertise, mentorship and building genuine relationships. They discussed strategies for pricing, the role of social media and the impact of AI in real estate. The conversation highlighted the significance of understanding market dynamics, maintaining authenticity and the value of hard work and patience in achieving success in luxury real estate.
Additionally, strategies were presented to position yourself as the go-to expert in your target market, from branding and messaging to lead generation and client services. The real estate pros provided actionable tips to grow your presence, increase referrals and create long-term success by serving your luxury niche with confidence and clarity.
Each broker had a distinct ‘why’ that drove them towards success in the luxury market. For Moore, it was the desire to provide a flexible career that would allow her to be present for her children. Cotton’s passion stemmed from a childhood spent building treehouses, which instilled in him a deep appreciation for the sanctity of the home as a refuge. Hargey, with a background in counseling, found joy in the competitive nature of real estate and the immediate gratification it provided.
As the conversation delved deeper, the brokers shared their insights on finding one’s niche, navigating the evolving digital landscape and the art of mentorship. They emphasized the importance of genuine relationships, authenticity and a willingness to go the extra mile, even in the face of challenges.
The panel also discussed the crucial role of pricing in the luxury market, with Cotton outlining his seven-step process that prioritized data-driven analysis and transparent communication with clients. Hargey, on the other hand, described a more flexible approach, working with clients to navigate the emotional realities of the market.
Ultimately, the brokers’ collective wisdom and diverse experiences painted a vibrant picture of the luxury real estate industry, inspiring with their passion, resilience, and commitment to excellence. The discussion served as a roadmap for aspiring luxury agents, highlighting the keys to success in a dynamic and rewarding field.
To end the discussion, Forbes asked for one piece of advice for an agent trying to break into the luxury market today. Here’s what our panelists had to say:
“I would ask myself a question 20 times a day because in my market there are better marketers than me. They’re better salespeople than me. They’re better at everything than me. But there’s one thing no one’s better at than me, and that is doing whatever is in the best interest of my client.” –Jack Cotton, Agent and Realtor®, Sotheby’s International Realty
“I would say hard work always pays off. Hard work, consistency and patience. It takes time, but it will come if you continue doing it.” –Anam Hargey, Team Lead and Broker, @properties Christie’s International
“Don’t be afraid to create events for luxury real estate, even though you haven’t sold a luxury property. That’s how I got my start. I was doing events in luxury homes and only then I sold a luxury house. So I guess fake it till you make it.” –Mor Zucker, Team Lead, Team Denver Homes, LIV Sotheby’s International Realty
For more information on how to specialize in and dominate a target market, check out the full webinar here.
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