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Most agents want to increase their average sales price or enter the luxury market, but how can they do so? Success in this field requires a strategic approach and planned actions. is.
This article explains five steps you can take to increase your average sales price and improve your business in 2025.
What you focus on expands
One of the easiest ways to increase your average sales price is to focus your marketing efforts on specific regions. If you’re looking to grow your business, one of the basic strategies for doing so is geographic farming. However, the main determining factor for success or failure is the region you choose.
Once I heard a father say to his daughter that falling in love with a rich man is as easy as falling in love with a poor man. When it comes to geographic agriculture, it is just as easy to focus on areas with high average selling prices as it is to focus on areas with low average selling prices.
Simply put, if you want to increase the average price of the homes you list and sell, focus your marketing on properties with higher values.
If you’re interested in how to evaluate whether it makes sense to pursue a neighborhood, check out this article that walks you through the step-by-step process, including choosing a farm and marketing to owners.
Being where the high-end clientele is
We all understand that people do business with people they know, like, and trust. But trust takes time and requires building relationships. Relationships are built through intimacy and shared experiences. The key to this is to focus on relationships, and business will follow.
By some coincidence, Heidi Harris of Raleigh, North Carolina, saw her average sales price rise from $248,000 to $998,000 in two years. Harris said her husband always wanted her to join a country club, but she didn’t think she was cut out for it. After joining the club, Harris said she decided to become active with the women in the club for no other purpose than to make new friends.
She took tennis lessons and met and became friends with several women. These women invited her to other events at the club and introduced her to other women with whom she became friends. Before she knew it, she was surrounded by a group of friends she loved spending time with.
These women not only did business with Harris, but also introduced him to friends who happened to live in luxury homes. That wasn’t her original intention, but these women knew her, liked her, and trusted her, which is why their relationship contributed to the amazing average she saw in her business. This led to an increase in selling prices.
So ask yourself where you can get involved and build new friendships. Whether you find a hobby you love or a charity you want to support, your average sales price will go up if you’re surrounded by gorgeous owners.
Be the first to introduce new luxury product developments
Curiosity creates opportunities. Presenting information about the development of a new luxury product is a unique way to be recognized as an expert in its development. If you position yourself as the first person to talk about new developments and provide updates as they progress, it will become harder for others to compete with you on those developments as they mature.
Video updates through YouTube and Instagram are a great way to provide information in a way that most consumers prefer. With Instagram posts, reels, and green screen videos announcing new luxury developments, you can become an online resource for information about new luxury developments.
This is an example of this type of content by Jason Gruner from Nashville, Tennessee. The first is a post and the second is a green screen video about the new development.
At YouTube, infrastructure updates are the best way to start building algorithm awareness as a new development expert. As development progresses, we will follow up with additional updated videos, followed by luxury home tours.
These three thumbnails show the progress of a video on Noah Escobar’s YouTube channel highlighting the new luxury Watersound Camp Creek development just north of Highway 30A in the Florida Panhandle.
Become a premium resource in your market
In the example above, Gruner and Escobar are using development to differentiate themselves, but they can also attract more luxury customers by becoming a resource for all things luxury.
Utah native Paige Steckling has partnered with Super Luxury Group to provide a luxury guide to Park City, Utah. This type of marketing provides value specifically to luxury goods prospects and sets her and her team apart as a resource for all things luxury in the regions they serve.
If you focus on being seen as a resource, you will reap the rewards in business.
Stand out, be present and be the first person that comes to mind
Many agents shy away from doing business with buyers and sellers of luxury goods, believing that they have not yet reached the level of economic and social attainment that buyers and sellers of luxury goods have achieved. . Nothing could be further from the truth. If you are professional, have presence, and are the first person they think of, luxury business will come your way.
Glenda Baker of Atlanta, Georgia has built an impressive business, but her focus on luxury homes began early in her career, when she was still living in an apartment.
She told me a story about how she dreamed of selling luxury homes in a particular area. She decides to research and visit all the homes currently for sale in the neighborhood. She researched the sales history of each home and positioned herself to be recognized in the neighborhood.
She decided that she wanted to be physically present, to be recognized by the owners, so that the owners would start to see her there as part of the neighborhood. Several times a week, she drove out of her apartment, parked right outside her neighborhood, and walked around the neighborhood pushing her daughter in a stroller in the afternoon when most owners got home from work.
They smiled and waved to everyone they saw, and even engaged in conversation with their owners during walks. By studying the neighborhood and getting to know it through afternoon walks, she was ready when her first listing opportunity came along. Once she earned her first listing, she built momentum in the neighborhood. She eventually took control of the farm area.
If you want to grow your business this year, it all starts with you. Become the high-class agent your prospects want and need. Please expand your knowledge. Step out of your comfort zone and join a new group or organization. Spend the same amount of time your ideal customer would spend and be ready to bring value when the opportunity presents itself.
Jimmy Burgess is a real estate agent and national team builder with Real Brokerage in Northwest Florida, serving the 30A, Destin, and Panama City Beach markets. Connect with him on Instagram and LinkedIn.
