What to Look for in a Luxury Real Estate Agent

You may be familiar with the advice to find an expert in the area where you want to buy a home. There's nothing that can replace the value provided by hyper-local knowledge. The real estate agent who lives and breathes real estate in a given area will be able to present properties that hit everything on your checklist. And they may be able to tap into the hidden market of properties that haven't hit the MLS yet, because of their personal connections. However, a real estate agent who sells homes in the suburbs is often a poor fit for those house-hunting in the luxury real estate market. They don't know the sellers or understand the buyers in that category, nor do they have the same grasp of the particulars of the luxury market. Consider it another form of hyper-local knowledge. This is why you can't use the conventional advice on finding a realtor to find a good luxury real estate agent. Here are a few tips on finding the right real estate agent when shopping for Calabasas luxury homes.

Experience

Anyone can be a real estate agent, assuming they've passed the necessary licensing exams. When you're shopping for a luxury home, you want a real estate agent experienced in the luxury home market. You don't want to have a real estate agent awed by features that are standard in that class of homes. You don't need a real estate agent who is unfamiliar with the common terms and conditions in these contract negotiations or taken aback by the amount of money involved. You should only work with a real estate agent who has experience in this space, because that's the only way they'll understand the nuances of the market. For example, etiquette matters more in the high end of the market. Discretion, flexibility and availability are far more important than negotiating ability.

Marketing Expertise

If you're selling a luxury home, the cookie cutter marketing plan doesn't work. Or, rather, it won't work unless you're willing to cut the price or let the house sit for a long time. Luxury real estate requires more extensive, focused marketing at the narrow market that can and will buy it. Conversely, those buying luxury homes should work with luxury real estate agents to find these same properties. Again, many of these won't be on the MLS. However, they may be shown in ads in local lifestyle magazines. These ads can actually direct you toward a real estate agent that works exclusively with the luxury market in your area.

A Compatible Personality

While you want a real estate agent who understands the properties they're offering and the value of each, they are working with you. They need to understand you and present properties that reflect your desires as well as your needs. If their personality clashes with yours, it is hard to build the trust required to sell a home with discretion or find a home that reflects everything you truly want. Conversely, you can't deal with an inauthentic person. Given the amount of money involved, you can't afford to make a mistake buying a home that requires extensive repairs, unplanned renovations or comes with problematic neighbors.