Show Notes

In this episode of The Hyperfast Agent Podcast, we listen in as Michael LaFido, a luxury listing specialist, speaks at the HyperFast Sales Summit. Michael gives some amazing tips on landing – and closing – more luxury listings. This is a must-listen episode if you want to venture into the luxury home market!

Episode Highlights: 

  • Only 1 house has sold in Illinois for over $10M in the last 20 years.
  • On your first luxury listing appointment, it’s important to exude confidence by knowing your numbers and doing your research.
  • Agents have the task of accentuating the best features of the home, not showing everything.
  • You must pay attention to detail enough to paint yourself as the expert to Mr. and Mrs. seller.
  • In today’s world, you have to work to keep people’s attention, so make sure you have amazing photos.
  • Michael takes multiple rounds of photos, making sure to have all the details just the way he wants them.
  • As the expert, agents must be deeply involved in the photo-taking process.
  • You’ve got to have backup plans in case there are any issues, such as mechanical, technological, time, etc.
  • Do your research ahead of time and make sure to take great notes so that you can build rapport.
  • A firm handshake and a look in the eyes go a long way when it comes to exuding confidence.
  • Before sitting down with the client, Michael asks clients where they want to sit to make them feel comfortable.
  • Agents that come with a prepared price should be walked to the door because they haven’t even seen the house yet.
  • Appeal to both sides of the brain by providing both analytics and powerful visuals.
  • There are many different types of agents that sellers can choose from, so show them why they should choose you.
  • Michael likes to get to know who the buyer is while staying within the rules.
  • Through the use of SWOT analytics, Michael is able to show buyers, sellers, and other agents his attention to detail.
  • As the market shifts between a buyer’s and seller’s market, you have to avoid cutting corners.
  • Don’t be afraid to ask the owners about details of the house and its unique features and history.
  • Be willing to take on a little more stress by taking your time to get the house and marketing ready and you will net more and sell faster.
  • Know your own numbers, as well as numbers relative to the current market and inventory in your area.
  • Make sure clients know that any money they put into their house in order to sell it is an investment.
  • Most people are not able to visualize what a house could be, so storytelling and staging are incredibly important.
  • Create a portfolio of every room in the house before and after you have staged the house.
  • The market dictates prices, keep that in mind when deciding if you are priced right.
  • Tagging, great descriptions, and amazing thumbnails will bring more viewers to your videos.
  • Provide an incredible experience (water, food, wine, hand sanitizer, security, etc.) and people will talk about you.
  • Changing your wording can help you from breaking any regulations.

3 Key Points:

  1. There are no rules in the real estate industry that say that you have to show every room in the house. Accentuate the best features of the house.
  2. When it comes to building rapport and differentiating yourself, research on your clients, exuding confidence, and making the client feel comfortable are absolutely vital.
  3. Develop a SWOT analysis (strength, weakness, opportunity, threat) for all of your listings. This will help you prepare as much as possible and show clients that you are in fact the expert.

Tweetable Quotes:

  • “The after isn’t just about staging. The after is, ‘what did we accentuate?’” - Michael LaFido
  • “You’re not just selling a home. You’re not just selling bricks and mortar...You’re selling the location, the lifestyle.” - Michael LaFido
  • “Insanity is doing the same thing over and over and over again.” - Albert Einstein
  • “Limited supply drives up demand. Keep it simple. That’s what real estate is about.” - Michael LaFido
  • “10% of buyers agents...listing agents...buyers can visualize. Said differently, 90% can’t.” - Michael LaFido

Resources Mentioned: