Today is week one of the 30-Day Open House Challenge. If you're not in there, you guys need to get on in there. There's still time to join. You can still win prizes for the most open houses booked and the most engaged. So go ahead and get on in there, check it out. The link will be in the description. But in today's episode, we are talking about how to tap into the luxury real estate market. Some of my students have been asking me, how can I get in there if I'm brand
new to real estate? So in today's episode, I cover three tips on how to get into the luxury real estate market. See you there. Music. Are you tired of the same old school real estate lead generation tactics? Then you've come to the right show. Welcome to Open House Open Mind the podcast. I'm your host, Michelle, and this is not your average real estate podcast. I'm here to challenge the industry standards. You won't find pushy salesy bro tactics here.
There's a better way to do business without that icky feeling so that buyers and sellers are coming to you instead of you chasing them. So if you're ready to challenge those traditional standards with me, to fill your database, to learn mindset hacks that challenge your own limiting beliefs, and to take actionable steps to improve your open house experience, then stick around. Let's get you some consistent income in the business you worked so hard to get
licensed in. And let's have some fun while we're at it. Music. Today we're going to talk about how to get into luxury real estate. I've had several people in my courses ask me how to do that when they're brand new, how to break into the luxury real estate market. And today I'm going to give you three tips. So get your notebooks and your pens ready and let's take some notes. So tip number one, how to get into luxury real estate. You guessed it, host open houses in the luxury real estate market.
Now I know you're probably thinking, really like that's it. Yeah, it really doesn't have to be that complicated. I think a lot of you think maybe I need to know somebody or I need to be at a brokerage that is in the luxury real estate market. And that's not the case. There's luxury agents in every brokerage. If you want to to get into the luxury market, then you can do it by just shifting your mindset a little bit and going after that market.
So tip number one, you're going to host open houses by calling the agents in the luxury area that you want to work in. So just like you would in any other area, you're going to go in the MLS or you're going to ask people in your office. But what you're going to do is just pick up the phone and ask them. They want to sell that house just like any other house. It's no different. So what you have to do is just step back and not be afraid to go after that.
If that's what you really want to do, and that's where you want to take your business, then you have to just go for it, right? You have to start somewhere. And like with anything else, the more you do it over and over, you're going to build the confidence, right? And before Before you know it, you're going to be in there and you're going to be teaching other people how to do it. But this is what I want you to do. I want you to go on the MLS, search for the homes.
Call the agents. You're going to call until you get a yes. You're going to book that open house. You're going to be a little nervous, but that's okay. And the first few times I want you to do it, I don't want you to go all out like you see everybody else doing. When you're brand new, you know, we don't have a lot of money when we're starting out. And you might see everyone, everyone else doing these huge open houses at the luxury homes, and you see them doing.
Caviar and champagne and charcuterie boards, and they're having all these huge events. You don't have to start out that way. So what I suggest is that you just focus on getting them booked and start to do them over and over so that you get a feel for it. You get a feel for asking the agent and you get over that fear.
So that's tip number one. One, then tip number two is once you schedule that open house, you have it on the books, what you're going to do is you're going to post as much as you can. You're going to market the heck out of that open house, right? You're going to market the minute you get it booked. You're going to market during the open house. You're going to market after the open house.
You're going to market the heck out of it because what you want to happen is you want You want your sphere of influence to see what you're doing and you want the community to see what you're doing so that people start to get to know you, that you're in the luxury real estate market. And then tip number three, once you have that open house booked and you built that rapport with the agent, what you're going to do is ask her if you, or him, if you can be her go to open house agent.
So this way, you're not always searching for open houses every week to do. If you can build that rapport with the agent, and she'll let you do that open house over and over and over. Do that open house until it sells. You're going to do her a favor, right? And you're going to start to build the confidence. Now once it sells, then you go out there and you look for another one.
And by that time, you should have built, you know, a little bit more more confidence, gotten over your fear a little bit, and have started to realize that, you know what, it's just like any other open house. It's just like any other house. So those are the three tips that I want you to just try over and over and over. And yes, again, it is that simple. It can be that simple. Now, once you have done this several times, I'm going to give you a couple little bonuses. Ask.
A lender to team up with you. And maybe at that point, then you can get some nice brochures made. And you guys can, you know, partner up on that, you can help you out. And he can help you out at the open houses, you're not doing it alone. And get somebody maybe to sponsor some, some kind of snacks, you know, maybe do a twilight event. If you guys listen to the podcast, you'll hear that I talk about not doing a lot of snacks or any snacks at open houses, maybe just waters, right?
But the reason that I say that is because when you're starting out, again, you don't have a lot of money. And if you're going out there and spending all this money on all this food that nobody ends up eating, you're going to burn out really quick because you're going to say, man, this is just a waste of time. Nobody comes. Nobody eats the stuff. And this is the way I'm supposed to be doing open houses, right? This is how I get people to come, right? Because you're seeing everybody else do it.
Now, for the luxury market, it's a little bit different because it's just different. You have different type of people coming through. So once you've done a few, and once you've gotten somebody that will partner up with you, at that point, you can do something a little fancy. It doesn't have to be completely fancy like the caviar and champagne thing, but you can have like a twilight event. Those are always fun because most luxury homes have views, right?
Not all, but most of them do. So if you end up scheduling an open house at a home with a gorgeous view, then I highly suggest doing a twilight open house. And at that point, you can do like light snacks, maybe light drinks, and you can do something fun like that. But again, remember, I don't always recommend all of the fluff and the extra goodies for four open houses when you're brand new, because you will spend so much money and you may not get that return.
Now, if you end up getting a transaction, you're making some money, then you can start adding certain things into your open houses. Like I do a toy drive event at the end of the year. But again, that doesn't even cost me a lot of money. I just I asked people to donate Donate Toys, and we have a toy drive event during Christmas. You can do...
Halloween event and or you can do you know like for 4th of July you can do fun things but again remember just do it after you've gotten some transactions under your belt after you have some money because you you won't see your return on investment at the very beginning when you're starting out when you're starting out you want to focus on your conversations with the potential clients coming into your open house that's the main thing you want
to focus on so let me recap how to get into the luxury real estate market, you're going to host open houses in those areas. And you're going to keep asking, you're going to keep trying and trying until you get an agent that says yes. Of course, if you have agents in your office that have luxury listings, then go ahead and ask them. That would be the easiest way. And then post. You're going to post Post on your social media like crazy. You want everybody to see what you're doing.
You want everybody to see that you're in that market. And that's how you're going to get known in the luxury market. And then remember, number three is once you have built that relationship with an agent, just do that open house. Do that one listing until it sells so that you're not, you know, going back to square one to look for a luxury listing.
Investing so I hope that helps get out there please tag me and let me know that you've booked an open house in your luxury market I'm at open house coach I would love for you to do that and also if you haven't taken a moment to write me a review it really helps other people hear the podcast and it's my passion to help new agents stay in the game have a great weekend come back with an open mind.
For those of you who want to take this work deeper and master the art of hosting open houses in order to attract buyers and sellers, then you're going to want to join me inside Open House Mastery. This is a self paced online course with a live component that will take you through every step you need from finding open houses to host to what to say when visitors come in to converting leads to clients. Together, we're going to get clear on how to confidently land clients, not just leads.
On top of all that, when you join Open House Mastery, you get access to my bonus follow-up system, plus my fun buyer manifesting exercise, where I teach you how to coach your buyer clients on manifesting their dream home. Also, you get to join my student-only community, where you get coaching from me once a month, where we master the non-salesy script together. So if you're ready to build a strong foundation in your real estate career and make more money this year, then join Open House Mastery.
Link is in the show notes, but get in quick, you won't want to miss this month's live coaching. See you there.