Breaking into the Luxury Scene

Getting a foothold in such a market may seem daunting, particularly to younger agents or people new to the field. Jennifer Ames, the president of the Jennifer Ames Chicago team at Coldwell Banker Residential Brokerage, came into luxury marketing from an investment banking background, which she credits with teaching her how to carry herself as a professional. Her mother sold luxury real estate for 30 years, and Ames absorbed many of her business practices. She entered real estate before consumers had access to tools like Internet research and online listings, and invested her time in learning the market firsthand.

“We had to go to broker tours every Tuesday to see the properties in order to really understand them,” Ames said. “I would go to see 10 to 15 properties every week. I was very strategic about it, and I would run from place to place. When I started having my first million-dollar buyers, I knew what had sold. I had seen it, and I felt confident in being able to effectively evaluate pricing and my understanding of market conditions.”

While connections and career carryover can be significant benefits to propelling one’s rise to selling luxury real estate, some agents choose a brokerage with the brand recognition and resources to help attract luxury clients.

Dana Slager, a Winnetka-based broker associate with CONLON/Christie’s, said her choice of brokerage made all the difference in pursuing her luxury career. “I have been selling real estate for 10 years, and my decision to join CONLON put me in the right path to tap into this market. We have an elite status and a global position in the real estate market.” CONLON/Christie’s projects a luxury image, and luxury marketing is all about image. Agents who attract luxury clients have impeccable images themselves and understand that every aspect of their marketing  – their online reputation, events, showings, open houses, print materials and the listings themselves – must together reinforce that image. That all starts with a thorough knowledge of their local luxury market.

Ames’ team brings on less-experienced agents and mentors them until they have the confidence and real knowledge to gain full acceptance by her luxury clientele.

“Luxury agents on the Ames team need to dress professionally, you have to keep your car clean,” Ames said. “You have to present a total image that is consistent with the fact that you are qualified to sell high-end property. Those little details together will either give a buyer confidence in you or not. At any price point, you should be prepared. At the high end, you have exceptionally savvy buyers and sellers. If an agent tries to wing it, their potential for success is diminished.”

Next: Learning Local Luxury