Earn The Income You Want. Become a Top Producing Agent. We’ll put you on a plan for success. Join Our Team
“How do I become a luxury real estate agent?” I can’t tell you how many people I’ve talked to who are just starting in real estate and say they want to become a luxury agent. But you can’t just jump into luxury real estate without learning the job first and understanding the basics.
The first thing you need to focus on is trust. Does the consumer trust you? Are you doing your job well? I’ve looked at the numbers in our local association and found out that less than 5% of agents have sold over $10 million. In a market with over 9,000 agents, only 4.8% have reached that milestone. Despite what many people say, not all real estate agents are making millions.
Let’s break it down a bit further. When we look at agents making over $10 million and then break it down to those making over $20 million, the numbers shift significantly.
The top 4.5% of agents, about 1,900 out of 43,000, handle over $10 million in sales. This small group, which totals around 43,850 units, represents 28% of all sales units and 45% of the total sales volume.
To put it simply, less than 5% of agents account for 28% of all sales units and 45% of the total sales volume, which adds up to over $22 billion.
Why is there such a difference? It’s because they close fewer deals but work with higher volumes and price points. These are your luxury agents.
The only way to become a luxury agent is to get out there and become a $10 million-plus agent. And you can’t jump into $10 million deals without first closing one, two, or three smaller deals.
Work on becoming an expert in your market, understand contracts, and master negotiations. You can only achieve this through experience and a high volume of sales. Once you have that down, you can transition into luxury real estate.
If your aim is to be a luxury agent, start by being the top producer in your area. Those 5% of agents handling high-end deals aren’t just giving them away; they’re not stepping back from their business. To succeed, you need to outshine them.
What’s the number one key to becoming a luxury agent? It’s simple: do more deals and do them quickly. For more tips and strategies, reach out to me at (941)404-8676 or success@marcusandcompanyrealty.com. I’d love to help you.
-
Earn The Income You Want. Become a Top Producing Agent. We’ll put you on a plan for success. Join Our Team
-
Free Coaching Call. I’ll educate you on our Zillow Flex program and help you write a personalized business plan for your needs and goals. Book a Time
-
Blueprint for Success. Get access to our free blueprint that will show you how to set elite-level business goals, identify your perfect target market, and Implement profitable marketing strategies. Download Now
