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How to Create new opportunities in the luxury market during a Pandemic

Propy’s weekly webinar Episode 16 was with top producing luxury agent, Michael LaFido, Founder and CEO of LUXE. 

Michael LaFido, along with Propy’s CEO Natalia and Propy’s tech advisor William, discusses what’s the “new standard” for Luxury Homes today and how it changed throughout time. He emphasizes the importance of being digitally active in today’s world. Michael shared how COVID-19 has affected the market and gives advice and tips on how to continue growing through all the circumstances:

Working from home has changed our view on the homes we live in

The stay at home restrictions imposed during the COVID-19 pandemic have impacted the way that business executives look at their home situation. The need to stay at home has prompted a resurgence in the luxury property market and led to an increase in demand.

We can still grow our knowledge during a crisis

Our mindset dictates our success. We need to keep learning at all times regardless of the things happening around us. There are free avenues for learning, like podcasts, Facebook groups, white papers, and books that can be used by agents to grow their understanding so they can be more confident when stepping outside their comfort zone, especially where the luxury market is concerned.

The misconception of ‘luxury property selling’

Some of the common misconceptions people have:

“You have to be licensed for X amount of years before you can sell luxury,”

myth, and the need to come from wealth to sell high-end properties. All you need is desire and determination.

Michael discussed the definition of luxury and how some brokerages think that only properties over $1million are high-end. Every market can have high-end homes and any property over double the average selling price can be considered ‘luxury’ for that area.

Being likable is the key

“People are always looking for this easy button.”

But there isn’t an easy button in real estate, according to Michael. And he’s completely correct. Building relationships and having the right technology behind you (like Propy) is the only way to be successful. And as Michael says,

“You got to be trustworthy.”

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