Mike Kobeissi is a luxury real estate realtor and broker that has mastered the La Canada Flintridge market. This Los Angeles County area is home to many well-known movie stars, film producers, and professional athletes, and it is also home to some of the most luxurious real estate properties in the US.
But, no matter which state you live in, a high-end real estate market will exist in exclusive neighborhoods. A proven track record of real estate sales to high-net-worth clients and a few good connections are all it takes to get a foothold in this lucrative real estate area.
Mike Kobeissi is in charge of the multimillion-dollar real estate company Kobeissi Properties. Kobeissi Properties assists those interested in selling, purchasing, renovating, or constructing a new residence. As a design master, Kobeissi also adds an expert aesthetic touch to properties.
Before you can succeed in selling high-end residential properties, Mike Kobeissi suggests that you know your potential buyers and what motivates them to close a property.
Who are the buyers of luxury property?
Who are the buyers of luxury real estate, and where can you find them? One way Kobeissi suggests is to adopt a fancy hobby. Antique car enthusiasts, horse riding groups, Michelin-rated restaurants, ski lodges, and private suites at any sports arena are a good start.
And, since Millennials and Gen Z are the present buying population old enough to have secured the money for a luxury property, you should focus on this demographic. You will find an affluent, older Gen-Z generation ready to embrace high-end real estate not necessarily for the lifestyle, but for the potential future income.
The key to selling high-end real estate
Every high-end home will have many premium finishes, materials, appliances, and infrastructure manufactured by exclusive brands. The buyers of these homes will recognize these brand names and materials – and it’s up to you, the real estate agent, to know them too. When you highlight the branded features of a home, you are identifying yourself with that same lifestyle.
Mike Kobeissi suggests that anyone who desires to enter the luxury real estate market start by working closely with a mentor who can demonstrate the power of brand name-dropping and how to do it with style. Also, be ready to deal with a possible entourage of potential buyers’ representatives. These may be lawyers, accountants, and even personal assistants.
Kobeissi knows that a luxury property may sell for $3 million and up. Sometimes, this price is more about the location than the luxurious features and square footage. A more straightforward mountainside home or a home perched near a stunning waterway with exclusive and premium views will also fetch this level of market demand and pricing.
The key to selling high-end real estate is to know what elements of the property will most connect with the potential buyer. If you’ve sensed that the prospective buyer isn’t thrilled with an outdoor swimming pool, accentuate the outdoor kitchen and lounge areas – discussing the pool only as an interesting backdrop to fabulous entertainment.