5 Lessons from Multimillion Real Estate Agents

Every real estate agent wants to score the deal of his life, and that involves a seven- to eight-digit contract. It’s not easy to penetrate the luxury market, more so earn hundreds of thousands in commission from a single deal alone. However, there are realtors who have proven that it’s not impossible to be a million-dollar agent.

We collected some of their lessons to help you learn more about this industry. Of course, these will be particularly useful if you wish to one day join the ranks of our most trusted partners.

1. Experience is the best teacher – Josh Altman

There is no shortcut to it, and that is what Josh Altman learned throughout his career. Mastering negotiation for him is different from mastering the industry, which is the key when dealing with very meticulous millionaire clients. Trust him when he says that you need to explore the industry in as many aspects as you can. He knows what he is saying, and it shows in his hit reality show the Million Dollar Listing in Bravo TV.

real estateAltman started in flipping houses, which he practiced for 10 years. He shifted to finance until he ended up where he is now—selling multimillion mansions. He knows how the industry works, to and from the stage where properties are constructed, financed, marketed, and sold.

You should learn that way too. You shouldn’t limit yourself to just selling if you want to achieve the greatest heights of being an agent.

His biggest deal: a $16.5 million Beverly Park mansion.

2. Industry trends and market preferences are constantly changing – Emily Beare

In fact, Beare thinks that it has already shifted.

Clients used to prefer “Wall Street” type properties—very formal, straightforward, and business-centered. Nowadays though, clients are becoming more artistic, preferring properties that don’t only have commercial value but artistic value as well.

On her experience, some clients are willing to wait for years just to find the right house that they can truly feel they belong to. There is this connection that some people want to feel before considering outright factors in choosing real estate.

Her biggest deal: a $13 million New York apartment.

3. Introduce the property to your clients – Raymond Bolduc

Bolduc is a treasure chest of lessons that new and experienced agents would want to learn. Trust him because his experience in the industry is long enough to see industry bubble blow up and pop. His clientele spans multiple continents as a matter of fact.

When selling a multimillion house, he doesn’t tour the clients to see it; he throws a gala to fit what luxury partying means. He organizes events, showcases luxury items, and allows clients to conduct networking with one another. The food and drinks are far from mediocre as well.

There was even a time when his party by the bay where the house was located happened with the clients aboard different yachts. This is how a multimillion agent pampers millionaire clients.

We think that it’s a little extravagant at first, but hey, if you have an eight-digit property listed, would it really matter to spend a few tens of grand for marketing? Besides, doesn’t building rapport with clients lead to long-term business relationship, more or less?

He really ensures that the clients enjoy the property so much that they would want to have it before they leave the party. Go to the level of your clients and entertain them in a way they mostly prefer. The clients need to feel that the property matches the luxury that they are.

His biggest deal: a $20 million eight-bedroom house on North Bay Road.

4. Approach potential buyers before listing a property – Nancy Callahan

The first thing most real estate agents do is list a property to jump-start the marketing strategy. Doing this may get you dozens of potential clients ringing your business line, but are those potential clients really what you need?

Callahan believes that millionaire clients are too precious to make the call. An agent should be calling them. That’s the way they wanted to be treated.

Before listing a luxury property, Callahan approaches a potential buyer first, someone who fits the high profile and high selling price of the property. She contacts them directly, a tactic that actually works if you have the right offer.

When this tactic fails, she resorts to advertisement before finally going to property listing. It is the “where” that makes an advertisement of a high-end property successful. What’s her personal favorite? It’s a full-page ad in private jet magazines. Her tactic is so straight-to-the-point that she rarely misses her target.

Her biggest deal: a $27 million mansion in Hawaii, the biggest deal for a home in Maui.

5. A client without a face is as good as nothing – Phil Collins

No, he’s not the Grammy-award winning recording artist that you are thinking right now. They have a similarity though. Collins sells multimillion mansions while his singer-counterpart sells millions of albums.

Collins is a believer of advertisement through his own website. However, in his years of dealing with faceless inquirers, he has learned that a client with no face is as good as nothing. You really have to know who your client is to cater to his needs and to make him realize what he really wants.

His biggest deal: a $13.7 million Naples mansion.

Author Bio:
We are your first and one stop shop for Long island real estate. Whether its residential, commercial, buy, rent or sell we can assist with the best MLS long Island listing. We will pair you with the best agency and broker to help you meet your goals. Please visit URL for more details.

Trading Time with Trading Baseball Pins

There are times when a person will look into doing something to get him to get away from stressful work. Picking up a hobby is one way to relieve stress. Some would start collecting items such as rare coins and stamps for their hobby. Others would start collecting different kinds of baseball pins.

baseballpinsWhen you get into custom pin collecting, buying, selling and trading them with other collectors can be expected. Some would follow a certain theme, like collecting pins that are sold and can be acquired in amusement parks like Disneyland. Disneyland would even hold an annual Pin Trading Event for enthusiasts that collect only Disney pins. Sporting events can be another source of custom pins and there are pins that are made every year. These pins can either show off the name and logo of the event, or will have a different theme for certain teams that will be participating.

Trading pins is another way to acquire the pieces that you would want for your collection. When trading with a fellow collector, an agreement must be met first before the trading can take place. If the collectors are away from each other, emails and online forums can be one means of setting a trade. Pin trading events will be another where collectors can meet in person and start trading. Baseball games can become an event for pin enthusiasts as well and rare pins can suddenly become available in that event.

As with any hobby involving items to collect, limited edition pins can be seen and can be available for trade. These kinds of pins are the ones that are made with only a limited number of prints or had become available during a special event. Other kinds of rare pins would be those that were made by major sponsors for a certain event and are not printed again afterwards. These are the kinds of pins that veteran collectors would stop for nothing in order to get them.

The common place to get some custom pins would be from sports teams or sporting clubs. Those are the kinds of pins that can be available the whole year and are printed each year, and each year they will have a different design, so collectors can appraise them at a higher value.

Baseball pins are made from metal and copper is the most common choice. The copper metal bases are moulded and then cut, and then they are plated afterwards once the pin is done. These pins would vary in sizes, from as small as 1.5 inches and may go to somewhere as big as 2.5 inches. The common method for them to be attached would be with the use of a butterfly clasp that is pushed onto a prong at the back of the pin.

When you meet other custom pin collectors, you may get surprised at how diverse each collector can be. There are kids that may already have a huge collection, or those that grew up collecting custom pins and have some of the rare pieces that they can easily show off. There are also some that just want to complete a certain theme for their pins and there are some that will go to any length just to get the baseball pin that they want. Most of these collectors are serious with pin collecting and they can be present at an event where pin trading can be possible.

Starting out with baseball pins trading may be hard at first, but once you get into the details and roots of it, it becomes as easy as riding a bicycle. There are other hobbyists that are willing to give a helping hand to those that had just joined in on the fun. They can then give some tips when starting a trade.

When a pin collector prepares for a trade, usually he would wear some of his pins on his clothes. The common places to wear them are on vests or caps. These baseball pins can then be seen by other collectors, and they can be pointed out to say they want to have a trade with one of their own. Once negotiations are done, they can then shake hands and a simple “Thank you!” can close the trade.