Persistence is Key To Upscale Selling (Becky Frey Commentary)
by March 26, 2007 12:00 am 134 views
As an upscale real estate agent, I love that every day is different. I grew up in a home where my mom was constantly updating, redecorating and entertaining. We enjoyed “home” and I enjoy helping my clients connect to their new home in a way that reflects their unique visions.
I grew up in Batesville and my mom bought the Century 21 office there shortly after I went to college. I graduated from Southern Methodist University in Dallas with a marketing degree and went into clothing retail.
Then one day a customer came into my store to return an item and I succeeded in selling her several more items. As she was leaving with her bags, she stopped and chuckled.
“Now I’m leaving with all these clothes,” she said. “You have to go into real estate.”
The next thing I knew I was getting my license, going into real estate just like my mom and working for my customer’s company, Ellen Terry Realtors. It didn’t hurt Terry was a fellow SMU alumna.
It took me 10 years to develop a solid client base in Dallas. Now that I’ve been selling for more than 20 years, I record between $15 million and $20 million in annual sales based primarily on consistent referrals.
I couldn’t even tell you how many homes I’ve closed. I’m a bottom-line person, not a unit-counter.
I am particularly known for selling architecturally significant homes with contemporary designs. This style of homes is scattered throughout the city of Dallas and range from 2,000-SF starter homes to 7,000-SF mid-century modern homes.
The typical home I sell is 4,000 SF on a lot of around 60 feet by 150 feet and the average price for one of my listings is $1.4 million.
Most have four to five bedrooms with a formal den and a game room. They have sophisticated kitchens with superior appliances and big, open living areas.
An average home has a master suite with incredible, large master baths. Outdoor living spaces with fireplaces are very big in this area.
The most expensive home I have sold was $3 million but I am currently working with a couple to find a lot to build and sell their home on one acre for $6.5 million.
Some upscale clients are on a mission. They’ve shopped it and found it. Some prefer to wait until they find the perfect thing. They won’t buy until it’s the right thing.
Or it’s not what they want but they’ll buy because they are getting a really good deal. Most people who get to the upper price range are busy and they want someone working for them. They aren’t going to get out and drive the streets looking around.
Building an upscale clientele took a lot of persistence and time. I had to get involved in organizations and leadership positions to allow opportunities to get in front of people who bought high-end homes. I served with the SMU alumni group, the Junior League, the board of C.A.R.E. at the YMCA in Park Cities and co-chaired the Katy Trail 5K for nine years.
Developing brand positioning with my business name, logo and color was also an important step. I advertised in select targeted locations and posted a private website to further identify myself in the upper-end market.
I have also learned a few “dos” and “don’ts” over the years when dealing with upscale buyers:
Early in my career, my broker took us on Ed Forman motivational retreats where I learned to set goals and to achieve what I believed in. Since then, I have been fortunate enough to have several mentors and business models that have influenced me throughout my career and whom I have molded my business after.
Having an Arkansas twang has always helped in breaking the ice and getting to know new customers. Under that tough skin, you always have to have a sense of humor and know how to laugh at yourself.
(Becky Frey works for Briggs Freeman Real Estate Brokerage in Dallas. She may be reached through her Web site at www.beckyfrey.com.)