Out-of-Market Luxury Purchases Part Two: The Importance of Local Real Estate Referrals with Tami Simms

Being Authentic is the Best Approach When It Comes to Working with the Upper Tier:

Authenticity builds trust in luxury real estate. In order to start building a strong foundation of trust amongst clients, you have to ensure that they recognize it is your intention to help them every step of the way. Helping them is your top priority, and that doesn’t necessarily mean making a sale in order to do so.

While building relationships is important, maintaining trust is key for a healthy referral pipeline. If your clients trust you, chances are high that they’ll come back to you for future luxury real estate needs. If your clients trust you, chances are good that they’ll refer you to their own contacts for the same type of high-quality service you provided them with. When it comes to working in the upper tier, authenticity is the most important aspect of the relationship, and it’s critical that you never lose sight of it.

Making the Most Out of Opportunities in Luxury Real Estate:

You miss 100% of the shots you don’t take. While there may be some debate over where the quote originated, the idea behind it is 100% spot on. Every opportunity to go above and beyond on behalf of your client is important. If you have an opportunity to help someone, even if you don’t directly benefit from doing so, the best strategy is to assist them in whatever way possible — within reason, of course.

Also important is remaining positive throughout the relationship. This idea might seem fairly obvious, but it’s imperative that it be stressed over and over again. Regardless of market conditions, you have to remember that your client is counting on you to effectively guide them along their path to purchase or sale. Presenting information in a less-than-promising manner won’t help you in the long run, but it may hurt you and the relationship you have with the client. Remember to package less positive news in such a way that your client remains at ease, doesn’t question whether or not you’re going to effectively be able to assist them, and maintains confidence in you that you’re the right luxury real estate professional to have partnered with in the first place.

Topics and Questions You’ll Uncover During this Episode:

• How has consumer behavior recently shifted in luxury real estate?
• Why building your referral network has never been more important than in today’s luxury real estate market
• How expanding your sphere of influence can help weather any market conditions
• Some do’s and don’ts clients should keep in mind when purchasing a new home
• The importance of luxury real estate professionals transitioning into trusted real estate advisors

Resources Mentioned within Episode:

• Official Website - The Simms Team
• Connect with Tami Simms on LinkedIn
• The Institute for Luxury Home Marketing