What to Know Before You Choose a Luxury Real Estate Training Program

Selling luxury products has always required a slightly different technique—whether it's for luxury cars, retail or luxury real estate. It's important to understand this “world of luxury,” especially its discerning buyers and their expectations, in order to better position yourself for success. That’s why we’ve compiled this list of recommendations when choosing your luxury training partner. This way you can continue to benefit through ongoing learning, knowledge and marketing strategies that will help grow your luxury real estate business. We believe that with the right consistency in training and learning, anyone can become an expert in the world of luxury and unlock the secrets of obtaining and selling that high-end listing.

How to compare luxury real estate training courses

Choosing the right luxury course can be overwhelming, there are a lot of options available and it can be difficult to know which is the right one for you. Using these criteria you can help develop a framework for selecting the best training.

1. Is the course a culture-fit?

You want to make sure whatever course or association you select best matches your values and can offer knowledge appropraite to your current career background. Luxury Society suggests looking at these 6 aspects when selecting a luxury course or trainer.

1. Knowledge: How knowledgeable is your training source on the matter of luxury? Look for demonstrated authority in blog posts, interviews and online downloadables that give you a preview of what you can expect. 
2. Legitimacy: Does your trainer have any previous or current experience selling to luxury buyers? What are their accreditations or certifications in training?
3. Mindset: Does your potential trainer seem passionate about what they do?
4. Brand: Does the training accurately reflect your brand and the standard of excellence you want to set forth?
5. Metrics: How is the success of the training measured? How will you know you've been properly trained? Are there any tests you need to pass to gain your certifications?
6. Decorum: How does the trainer or luxury course present itself in terms of looks, attitude and speech?

Many associations offer a variety of training options. It is important to look into the qualifications and differences between these courses. For instance, here at The Institute we provide either a comprehensive Luxury LIVE or Luxury ONLINE learning course for new members at the start of their first year of membership.  For agents who are already established, we offer a 4-hour course Advanced ONLINE that grants the CLHMS designation upon completion.   We also offer the opportunity for members to retake our courses at any time to keep abreast of changes and new techniques.

2. Are there ongoing training opportunities?

Our world is constantly moving and changing. Likewise, the world of luxury is always evolving and adapting to the world around it and you'll need to find an association that can continue to grow with you and keep you informed as the market adjusts. You might want to ask any potential course leader how they continue to educate people on:

• Luxury trends
• Market changes and adjustments
• Luxury and wealth statistics
• How digitization impacts real estate
• How social media best practices can change your marketing

3. Will you get any additional membership benefits?

The biggest benefits of your luxury training should not just come from the course, but rather the opportunities provided afterward. Training alone does not make you an expert—this comes from experience, ongoing learning and a platform of expertise at your fingertips.   Benefits should include opportunities to understand new marketing strategies and techniques, information on the latest trends and insights into the behavior of the wealthy, opportunities to network and connect with peers and experts, and exclusive access to tools and resources. Compare the member benefits provided by The Institute to ensure that your chosen training partner is as invested in creating strategic relationships and offering products and services with real value.

4. What business strategy tools will you learn? 

One of the key takeaways from luxury training is how to grow your luxury business through proper strategy and target marketing. Look for trainings that will help you succeed and grow in this area. Your online presence and personal branding are critical when targeting luxury buyers and sellers. You must have a strategy otherwise you will not be successful. Your strategy must position you as an expert while incorporating clean and consistent branding with things such as your logos, fonts and even which designation you align yourself with. Your marketing should consistently reflect your experience and expertise while creating an air of exclusivity. You can learn more about how to grow your luxury business through strategy and target marketing in any of our Luxury Live or Luxury Online courses today!

5. What networking opportunities with other agents are there?

A great benefit of taking luxury courses and being a member of a luxury community is the opportunity to meet and network with other luxury agents. We’ve talked about networking before, and one of the things we’ve often said is, “Networking is the thing that will make or break you." It's so true—people are everything. When you build connections with other agents, you are helping to build a trusted reputation within the real estate community. This will result in more clients and a higher volume of properties. You'll also gain the opportunity to learn from some of the best in the business, which will allow you to better serve your buyers and sellers. Our members get connected to leading real estate groups such as the NAC (North American Connection) and the FIABCI (The International Real estate Federation.) These connections will allow you to grow and continue your training in a real-world setting, which brings us to our next point…

6. Is there the opportunity to co-list with another agent?

Co-Listing is a great way to step into the world of luxury real estate. By co-listing you are able to get on the spot training and advice from experts in the market. Selling luxury takes hard work and dedication, and all too often we see agents get overwhelmed with their first million-dollar listing. By finding the right agent to co-list with, you are able to learn through experience in such a way that prepares you to list on you own. A robust training program can help you get started with finding an agent to co-list with on your initial transactions.

Training Through The Institute

At The Institute for Luxury Home Marketing, we offer several different training options guaranteed to meet your needs! We offer live training year-round, as well as an online option for those who are either unable to make it or would prefer to train from the comfort of their own home or office. We offer a comprehensive Luxury LIVE or Luxury ONLINE learning course for members at the start of their first year of membership.   For agents already established in selling luxury homes, who meet our qualifications, we offer a 4-hour course Advanced ONLINE that grants the CLHMS designation upon completion.   We also offer the opportunity for members to retake our courses at any time - keeping them abreast of changes and new techniques. By training with The Institute, you will receive premier insights, not only into marketing and networking, but also intso how to win clients, market luxury properties and more! Click here to sign up for a training course and become a member of The Institute today!