Few states can boast the wealth or opulence that California can, and nowhere is this more apparent than in its incredible market for high-end real estate. Many fortunes have been won and lost in this dynamic part of America’s housing market, so if you want to set yourself up for success, here are some things you need to do first:
1. Become a Realtor
The first step toward becoming a high power player in California’s luxury real estate market is to get your real estate license in California — and in order to do that, you’ll need to take a 135-hour course and pass the state licensing exam.
There are plenty of online schools that can help you pursue your real estate education online, which will allow you to prepare for your new career without having to quit your day job, and once you have received your California real estate license, you’ll be able to start buying and selling the kind of luxury properties you dream of.
2. Find a Brokerage that Specializes in High-End Real Estate
While you need a license to work as a realtor in California, a license doesn’t allow you to work independently. You’ll still need to find a brokerage that is willing to sponsor you if you want to be able to make deals.
There are a wide variety of different brokerages operating in California, from huge national broker-dealer firms like Fidelity Investments and TD Ameritrade to boutique, local brokerages specializing in particular neighbourhoods or housing types.
Finding a brokerage that specializes in the kind of properties you want to buy and sell is essential if you want to break into a specific market, so if you have your heart set on selling high-end real estate, be sure to do your research and find a brokerage whose interests align with your own.
3. Build Your Brand
One of the most important dimensions of luxury sales, whether of jewellery or Jaguars, is branding. Buyers want to know they are working with someone who understands their needs and can help accommodate them, which means that realtors working in the luxury segment have to put a lot of work into building an appropriate brand.
In California, especially, the range of wealthy buyers is significant, so deciding whether you want to appeal to Hollywood royalty or rising stars in the tech industry will have a significant role to play in how you craft your personal brand.
Few states can boast the same degree of wealth that is present in California. The aptly-named Golden State recently surpassed the United Kingdom as the fifth largest economy in the world, and carving out a piece of the lucrative luxury market is a sure way to enhance your own lifestyle while working in a dynamic and glamorous sector of the real estate market.
But if you really want to do well as a realtor, you’ll need to plan each step carefully and make sure that you set yourself up for a career of ongoing success. Getting your license, finding the right brokerage, and building a luxury brand for yourself are the first steps you should take on this exciting journey.