ReferralExchange CEO, Scott Olsen, spoke at Inman News’ Luxury Connect event in October on the “Putting Networks and Technology to Work in the Luxury Market” panel. He and fellow panelists emphasized that luxury clients use technology just as much as standard clients do – perhaps even more. The key to success is to provide technology that also offers a high level of service and support.
ReferralExchange CEO, Scott Olsen, spoke at Inman News’ Luxury Connect event in October on the “Putting Networks and Technology to Work in the Luxury Market” panel. He, and fellow panelists Greg Schwarts, Chief Revenue Officer with Zillow; Russ Cofano, SVP – Industry Relations with move.com; and moderator Jennifer Berman Holt, General Manager with Hilton and Hyland, emphasized that luxury clients use technology just as much as standard clients do – perhaps even more. The key to success is to provide technology that also offers a high level of service and support.
Given below are some additional takeaways from the event that you can use to help grow your luxury client business:
Foreign clients constitute a sizable share of luxury property seekers which makes an expanded online presence essential. Often by necessity, these foreign and other luxury buyers will purchase a property, or at least significantly narrow their search, sight unseen. By providing an enhanced and comprehensive online experience that includes an expansive photo portfolio to truly showcase each property, you’ll increase interest in your listings.
High-end clients are smart, business savvy and have plenty of options. Position yourself as an all-inclusive agent who can provide useful resources beyond their real estate needs:
- Referrals to attorneys, tax consultants and other agencies versed in U.S. reporting regulations, tax requirements and security laws, especially those applicable to foreign buyers
- Referrals to education consultants, doctors, decorators and designers, painters, staffing support, etc.
- Additional information on the property and surrounding location, including neighborhood photos, statistics, entertainment, restaurants, transportation, shopping, even current trends!
Leverage your Network
Luxury home buyers are often in the market for more than one property. For example, your client searching for a high-rise in Manhattan may also find themselves in the market for a Miami beach house. Part of providing an enhanced, full service experience should include being able to provide reputable agents in your clients’ other regions of interest. Finding them a quality agent in another market who will provide equally excellent service, via a service like ReferralExchange, can help increase your value to clients.
Luxury home buyers and sellers have most of the world at their fingertips. Bringing extra effort to the table to create a holistic, integrated experience gives you a competitive edge, especially with foreign and out-of-area buyers who have limited reach into your market.
Do you have more ideas how to provide your high-end clients with a full service buying experience? Let us know in the Comments Section.