How often do you network with other professionals who serve an affluent clientele?
Luxury real estate has a reputation for exclusivity, but the truth is, success comes from building a network of people who can help connect you with new, qualified prospects and support you in better serving your existing clients—and vice versa.
The good news?
There are plenty of other luxury professionals whose affluent clientele overlap with that of a luxury real estate professional, and many are aware of the reciprocating benefits. In fact, given that discerning clients often rely on a number of specialists (venetian plasterers or wine storage installation experts, for example) there are enough luxury professionals to network with to keep you busy for the rest of your career.
If you’re just starting out, however, there are three types of upper-tier professionals you’ll want in your sphere of influence if your network doesn’t already include them.
So if you want to expand your reach and better serve your clients, here’s who to bump elbows with in the beginning of your career:
1. Wealth Managers and Affluent Clientele
Understandably, wealth managers can provide great connections to affluent clientele because they tend to only work with clients above a certain income level.
These professionals help their high net-worth clients with financial planning, generating and maintaining wealth, and navigating investments. And, as one would expect, the majority of these affluent clientele have a fair amount of real estate in their wealth portfolios, which means there’s a need for luxury real estate expertise.
Plus, having a trusted wealth manager or two in your sphere of influence can also help you better understand how your clientele make their financial decisions.
A unique way to connect with these professionals? Offer them your monthly Luxury Market Report. They’ll appreciate the resource, and it starts your relationship on a mutually-beneficial note.
2. Custom Home Builders and Affluent Clientele
Although some feel the relationship between a builder and a luxury real estate professional is a competitive one, the reality is that both can benefit from the partnership.
Since both are looking to serve affluent clientele who are looking to purchase a home, there are plenty of opportunities to swap business back and forth.
For instance, a home builder may refer a client who isn’t represented by an agent, and an agent may refer a buyer who can’t find their perfect home on the market and would rather opt to have one built.
Another big benefit?
Continuing the relationship with a builder after the sale can help secure a reliable warranty for your client, which creates a referral-worthy experience for them and helps encourage repeat business for you.
3. Business Attorneys and Affluent Clientele