Are you ready to become a top producing real estate agent? Today on the show we have Bravo’s Million Dollar Listing star David Parnes. At 32 years old, David has had more experiences than a seasoned business man. Prior to landing in California, David worked at a hedge fund and then for a commercial real estate investor where he was in charge of finding financing options for shopping centre deals, just to watch it crumble in 2008. Already familiar with real estate thanks to his developer parents, David went to California to sell luxury real estate and develop properties himself at just 27 years old. Today, he’s here to talk about how to break into the ultra luxury real estate market, how to stretch yourself and why you need to go big or go home.
Breaking Into The Luxury Market
Everyone wants to break into the luxury market and sell multimillion dollar homes. The question is, do you have what it takes? David reveals a few things today on how to position yourself to enter the luxury market:
- Build A Brand: The real estate agent market is very fragmented with thousands of agents. As a result, buyers and sellers never know the experience they are going to get or the service they will receive. Branding is a great way for you to signal to the market what you have to offer and what you represent. David did this by forming Bond St. Partners with his partner, a clean young and fresh brand for the high end clientele.
- Bring Value To The Table: Most agents try to sell without differentiating themselves from the competition. But if you want to sell luxury real estate, you have to give your buyers and sellers a reason to chose you. For Bond St Partners, that’s the ability to bring high net worth individuals from international markets to California and find them great deals while simultaneously making the seller happy.
- Educate Yourself: Knowledge is probably the most valuable asset you can have in the luxury market. Buyers and sellers tend to choose you because you possess knowledge or skill your competition lacks. Learn the market and have such passion for the real estate you sell that people genuinely believe you can serve them best.
- Pay To Play: To build a luxury brand, you need to invest every dollar you have in your marketing and promotions to create your brand image and a track record in the industry. Come up with unique and valuable ways to reach the market and stand out from your competitors.
- Let Your Work Talk: Passion shows, so let your work represent your brand. By working hard every day on marketing, PR and selling David and his partner began setting records in Bell Air and Hollywood Hills. As a result, word of mouth spread and today, he is on Million Dollar Listing.
Marketing
- Differentiate: Stand out from the traditional marketing others are doing that goes unnoticed. One way David did this was by presenting his listings and advice through vlogs he could e-mail and send multiple clients.
- Educate: Additionally, David also educates leads on what Bond St. Partners can do for them as well as market updates through a clean, consistent newsletter.
Starting Out Young
In just 5 years and at the age of 32, David has built a successful company and secured a spot on one of the most well known real estate shows on TV. If you think age is a setback, think again. Here’s something for all new agents to keep in mind:
- Fear Is A Bad Fantasy: Most of the fears you have are fake. The more you do things, the easier it gets for you and you start to realize that your efforts pay off in a big way.
- Be A Hard Worker: Success is attainable, but not easy. You have to be willing to work harder than every single one of your peers if you are to be the best.
- Take Your Success: Only a handful of agents out of thousands dominate the market. Success is there for the taking is you are willing to put your fears aside and go for what you want.
- It’s A Numbers Game: To be the best, you have to prove you’re the best and that comes for sales. Get in touch with more leads than anyone else every single day.
- Network: Your reputation can grow at a faster pace by networking. David started networking with developers when he found deals that make sense to them knowing that with a solid relationship, they will come back to you when it’s time to sell it and again for future deals.
- Be grateful every single day
- Stay Humble And Provide Great Service: Always make sure you deliver on everything you promise on.
Get In Touch With David Parnes
Visit his website: bondstreetpartners.com
Google: David Parnes
Join The Conversation On Twitter
Tell us what you thought of this weeks episode using #unpackthatidea!
Our Sponsors
If you have a team and strong systems in place, radio will help increase your business. Reach out to Toby here and see your leads skyrocket! Here are some things to keep in mind before entering into radio advertising:
- Necessary Success Tool: Most top agents use radio. If you plan on making your way to the top, you need to make sure to have radio as part of your advertising plan.
- It’s A Commitment: Radio is a costly commitment to make for your team. Make sure you have the budget and the timeline to back it up.
- It’s All About The Systems: To maximize the ROI of radio, you need to have strong systems in place to handle the incoming leads and follow-ups that will come from this new channel
Join The Membership Site
The membership site is finally open! Join the Silver Level to free access to never before seen content. Keep an eye out for Gold and Platinum Level access coming soon!
Find A Mentor
We’ve partnered up with Bob Corcoran and his team to get you a free coaching call. E-mail bubba@corcorancoaching.com and let him know you listen to the show!
