7 Things Luxury Clients Don’t Like
In order to really succeed in Luxury Real Estate, you need to be in the mindset of the Luxury client. What does that mean exactly?
In this video, I talk about seven things that totally turn off Luxury Home Buyers and Sellers. I know it might sound negative, but it’s important to recognize these expectations so we can always keep them in mind. Watch here:
Seven Things Luxury Clients Don’t Like
- Poor Service. In most cases, wealthy people became so by giving great service in their own businesses and professions. As a result, they have high expectations, and they want them met. They find poor service annoying and have little tolerance for it.
- Low Passion, Low Energy. I hope you care about your profession as a luxury real estate expert. It needs to be a vocation and not an avocation. Repeat the thoughts and ideas of your luxury clients so that you can be sure they know you understand and that you’re on the same page and have passion for what you do.
- Inconvenience. Wealthy people are busy; their time is valuable. We need to respect that and be easy to do business with. They hate to hear, “Oh, that’s not company policy. We can’t do that.” I’m not suggesting anything illegal, immoral or unethical. At the same time, find a way to get it done. Be a problem solver, not a problem creator.
- Manipulation. Your wealthy clients tend to be smart people. Many times it’s how they became wealthy. Some of their success can be attributed to finely tuned B.S. detectors. Be 100% above board, straightforward, and honest in all your dealings with the affluent, (and everyone else for that matter).
- Not Being Heard. It’s one thing to hear, it’s another to listen. Your affluent clients don’t want to repeat what they’ve said to you. They want to know that you get it. They don’t have time to spell things out, so make sure you’re listening and tuned in.
- Unnecessary Complexity. Some agents get nervous when they’re dealing with people on the high end. They feel the need to impress with their knowledge, expertise and technical ability. Some agents will use jargon or words that don’t have a lot of use and commonality. Don’t try to over-impress. Be secure in who you are. Don’t compensate for insecurity by talking down to wealthy people. They can’t stand it.
- Cold Fish. Some advise that in business you should not “take it personal” or that “it’s just business”. Not true in the high end. Everything is personal to the luxury client and it had better be for you. Be careful of what you delegate. When you delegate, make sure you’re visible and on the front lines so that the wealthy person can see that you’re fully engaged. Think about the maître d’ at a restaurant or an orchestra conductor. They may not be doing the actual work, but they’re on top of and watching everything. Nothing falls through the cracks.
In the end, you need to understand that people of means have high expectations. To be successful, meeting them is not enough, we must exceed them.
Until next time, make it a great week.
