Are there Realtors who specialize in a target price range (luxury) as opposed to a geographical area?

Asked by Ruthless, 60558 Mon Aug 27, 2007

The key to this question is AS OPPOSED TO A GEOGRAPHICAL AREA?
The Chicagoland area is so large that most agents stay in their own neck of the woods and most areas have reasonably homogeneous price ranges. But if only a small percentage of the population can afford a luxury home, are there agents that target the entire greater Chicagoland area instead of being a designated luxury agent working in one of the luxury priced towns?

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ian cockburn, Agent, New Orleans, LA
Thu Aug 30, 2007
BEST ANSWER
Yes. What is advantageous in using such agents in theluxury market is the network that a group of such agents have on a global level. In our office, we work with clients that specifically call about historic luxury homes in the Louisiana and Mississippi markets. However, sometimes we can get refferals from other cities.

A good example is although I am based in New Orleans, I have contacts in the Chicagoland area at the Sotheby's offices who can direct my clients from down here to opportunities in the Lincoln Park areas seeking a condominium. The same is true with clients we have that are looking at the Miami or even Panama luxury condominium markets.

Luxury clientele do not have the same objectives or needs as the average person..many have options to pay cash, often own more than one home, or may simply want to own their piece of the American Pie in a certain location. As such, one has to understand their lifestyle and priorities in a different manner than when one has a first time homebuyer you helping find a mortgage for.
Web Reference:  http://iansellsnola.com
1 vote
Pete Edwards, Agent, Gainesville, GA
Thu Aug 30, 2007
I am a Realtor that has branded myself as a luxury properties agent. For me there are many benefits including the fact that luxury buyers seek me out. In addition I have also established myself an expert in the greater Lake Lanier area (5 counties) by publishing an annual Real Estate Report. The two together make a powerful competitive weapon.
Web Reference:  http://www.LakeLanier.bz
1 vote
Deborah Madey, Agent, Brick, NJ
Thu Aug 30, 2007
Respectfully, I take a slightly different approach to this than Paul's. I don't assume that mega producing equals best representation. Therefore I wouldn't narrow my search to only top producing mega agents.

Unfortunately, I know of too many high volume producers who are not working hard for their clients. Hiring someone solely on this basis without discussing expectations, marekting plans and service standards is an invitiation to be a little fish in a big pond.

Certainly, I am not saying that all mega agents ignore their clients. There are definitely mega agents who would make my most recommended list. But, a rookie agent with a great mentor might make for a better representative than a veteran who is coasting on yesterdays success. (I don't recommend a rookie agent without a goiod support system, coach, or broker involvement!)

Hiring an agent is like hiring a consultant or temp sales exec at a company. Screen for experience, knowledge, a good fit, and a willingness to work hard. The fact that someone has 20 listings is not assurance that you will secure the highest and best price for your property.
0 votes
Ruthless, , 60558
Thu Aug 30, 2007
Paul:
Thank you for being the lone answer; which is an excellent answer. Because I hadn't received a response, I asked another question:
http://www.trulia.com/voices/Market_Conditions/Any_Chicagola…
I would appreciate your input on that one as well.
Ruth
0 votes
Paul Renton &…, , Atlanta, GA
Thu Aug 30, 2007
Definately, any Top Producing agent has a 20% niche market that they get 80% rsults from, so they try to be the dominant prsence in this market. Let me know if you have specific ned and I wll find you a Mega Agent to help you.
Web Reference:  http://www.teamrenton.com
0 votes
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