Here's The Difference Between Selling Mansions And Ordinary Homes

Working in the luxury real estate market means high risk, but the potential for huge rewards.

We're reading "Selling Luxury Homes," by Jack Cotton, who founded Cape Cod's Cotton Real Estate (now part of Sotheby’s International Realty). He broke down how being an agent in the high-end market is different than in the regular market.

From his book:

(Photo credit: nancyarora2020)

"If you specialize in high-end versus low-end real estate, your fees are higher but most likely the number of transactions you complete is smaller. Plus if you list and sell dozens of less-priced homes, it's not as painful when one transaction fails.

On the other hand, if a $5 million sale falls apart, may months of hard work can be lost. To make matters worse, you might not have a significant number of other transactions in the pipeline to make up for the shortfall.

... What benefit do most agents expect to gain by selling luxury real estate? Obviously, it's earning higher fees than for non-luxury homes.

I won't mention specific fees, but I assure you that, as a rule, selling fees for high-end homes tend to be larger — much larger — than most. Although many agents make $500,000 a year selling real estate, few have made $500,000 on one transaction. Holding that half-million-dollar commission check is exciting, I can assure you —if for no other reason than the well-earned extreme sense of accomplishment that far exceeds the dollar amount."

Cotton also writes about how it takes much longer to show a luxury home, purely because of its square footage, therefore limiting how many properties you can show in a day.

By Meredith Galante

Taken from: http://www.businessinsider.com/working-in-the-luxury-real-estate-market-2012-11

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Adrienne Francis Earns International Designation for Luxury Home Marketing Expertise

Local NJ Real Estate Professional Recognized for Million-Dollar Successes

(PRWEB) September 24, 2012

Adrienne Francis with Keller Williams Realty in Bernardsville, NJ has earned the prestigious Certified Luxury Home Marketing Specialist designation in recognition of her experience, knowledge and expertise in the luxury home market.

“Adrienne Francis is an example of a real estate professional who has worked to develop market knowledge and the special skills and competencies necessary to provide exceptional service in the fine homes and estates marketplace,” said Institute President Laurie Moore-Moore, upon announcing Francis’ designation. “Affluent buyers and sellers can turn to sales professionals who have this designation and be confident that they have special expertise and experience in the luxury home marketplace.”

(Photo credit: nancyarora2020)

“I’m committed to providing outstanding service to my clients,” said Francis. “The Certified Luxury Home Marketing Specialist designation is evidence of my ability to meet the needs of Central Jersey’s affluent buyers and sellers. My membership in The Institute for Luxury Home Marketing also provides me with marketing tools and networking capabilities that benefit my clients.”

Additionally, Francis was recognized by the prestigious Institute for Luxury Home Marketing for her recent performance in the million-dollar and above luxury home market. Members of the Million Dollar Guild are Certified Luxury Home Marketing Specialists (CLHMS) who have documented their success in assisting affluent buyers and sellers with million-dollar properties. The recognitions are awarded by the Institute for Luxury Home Marketing, which trains real estate agents in the luxury home market and awards international designations to those who meet stringent performance standards.

Francis is an award-winning real estate professional who has gone through special training and met performance standards in the upper tier market. Most recently, Francis was featured in the April 2012 issue of Top Agent Magazine. She has been in real estate since 2004 and specializes in luxury homes throughout Central Jersey, including Morris and Somerset County, as well as parts of Union and Hunterdon County. For current information on the luxury home market, contact Adrienne Francis at Keller Williams Realty at 908-766-0085 or send an e-mail to Adrienne(at)AdrienneFrancis(dot)com.

About The Institute for Luxury Home Marketing
The Institute for Luxury Home Marketing exists to help real estate professionals around the world provide high quality service to buyers and sellers of luxury properties. Institute members have completed special training to build expertise in the marketing of upscale homes and estates and those who meet performance standards may earn the prestigious Certified Luxury Home Marketing Specialist designation. Information and an international membership list can be found at http://www.CLHMS.org. Members are also listed on the Wall Street Journal’s RealEstateJournal.com website.

Taken from: http://www.prweb.com/releases/2012/9/prweb9926755.htm

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