There is no denying we have entered a global real estate market. No longer do high-end buyers and sellers solely consider their “home town” when making transaction decisions. Rather, their economic mindset is on the global economy, their property holdings around the world, and how all of their investments are performing — both domestic and internationally. In turn, a new age has dawned for the luxury real estate agent.
Today, agents must be knowledgeable not only about their local markets but also about trends and pricing on a global scale. Each of their clients likely owns properties in multiple locations and likely searches on a regional basis when considering a new purchase. Our experience working with agents around the world has pinpointed a number who are doing it right. The Alexander Team at Douglas Elliman Real Estate in New York is a perfect example. Cruise over to their website, and you will see listings in New York, Miami, and Tel Aviv. They represented the nation of Qatar in the sale of a $100 million dollar townhouse in New York City, and they plan to expand their business further into the Middle East and to places like Aspen.
But it’s important to note that finding success on a worldwide scale does not necessarily mean representing clients in various countries. Perhaps more efficient is partnering with other brokerages who specialize in areas that share the same feeder markets as yours. Morgan Brennan, former real estate editor at Forbes, spoke of the global agent during our luxury real estate conference, The Key, in 2012. This video of her discussion has some great takeaways.
As a company, we have a strategic focus on global presence. To date, Concierge Auctions has conducted auctions in 23 US states, and last year was notable for our international reach, as we embarked on a global expansion plan, opened a London office and grew our list of prospective clients to over 100,000 buyers, sellers and agents spanning 130 countries.
And in addition to our database expansion, our website analytics tracked over 400,000 visitors from every continent [see infographic], and our social media networks rose to 15,000 followers. That’s not to mention how many other potential clients saw or heard about our press, advertisements, signage and other collateral. To be truly global you have to be everywhere!
The Age of the Global Real Estate Agent is upon us. Better take steps to position yourself if you want to work with high-end clientele. We’ve strategically expanded our international reach, and we have many more initiatives in the works. We don’t plan to stop until we are top-of-mind to every luxury buyer, seller and agent around the world. A tall task, we know, but we’re up for the challenge!
For more on our global reach and sales numbers click below to see our 2013 Sales Year in Review. Or please contact us or download 7 Steps in the Real Estate Auction Process if you have more interest in the auction process.