Most markets have one. A “luxury agent.” A real estate professional who has done an extraordinary job of positioning him or herself as the go-to agent when you’re ready to buy or sell an expensive home.
If you’re in the market to buy a high-end property, should you seek out or avoid this individual? As with most things, it depends.
Here are the factors we suggest you consider:
- Odds are this agent has listed many of the luxury properties you would consider during your search for a home. You may see that as an excellent reason to engage him to help you with your purchase. After all, who would know more about so many properties under consideration than this person? Maybe no one, but there’s also no one who has a higher level of commitment to keeps his sellers happy. When push comes to shove, whose interests do you think will take precedent? Is that the person you want representing you?
- You may see some articles that suggest you want to work with a luxury agent because they know about the “stealth” properties that never get listed and you could therefore miss. Presumably, there are owners who are so concerned with their privacy that they refuse to list their home in a public forum such as the multiple listing service (MLS.) There are, no doubt, some ultra famous folks who think it’s a good idea to keep the sale of their home under wraps, but most sellers (yes, even well-heeled sellers) in most markets want agents who will make sure EVERYONE knows their home is available. Being the “keeper of secrets” is a well-known sales tactic. Rarely do those “secrets” exist.
- Some people don’t think about it in these terms, but are you influenced by the celebrity of the local luxury agent? In most markets, the luxury agent has a fairly high profile. S/he has invested a considerable amount of money in promoting her/his specialty and has attained the status of local celebrity. Frankly, interacting with someone who’s well-known in the community is a kick for some people. We think it’s kind of cool, too, but it might be more prudent to look after your ability to save money rather than name drop.
When purchasing real estate, we always highly recommend finding an Exclusive Buyers Agent whenever possible. That’s especially true when you’re shopping at the high end of the market. Let us help you find an Exclusive Buyers Agent who will have your back when buying a luxury home.