If you want to make millions in real estate, selling high-dollar homes in the luxury market is one of the fastest ways to do it. However, in order to succeed, you’ll need to know the tips and tricks of top performers in this highly competitive niche. Chairman and CEO of HÔM Sotheby’s International Realty, Mike Shapiro, joins us today to offer his advice to agents who want to get into the luxury market. Listen as Mike explains how he turned a failing real estate business into southern California’s most successful luxury property brokerage. Also, be sure to catch Mike’s thoughts on where the luxury real estate market is going, what the hottest luxury features are, and more on this episode of Real Estate Rockstars.
Listen to today’s show and learn:
- Mike’s brief background [8:02]
- What Mike did to grow his business from 36 agents to over 400 agents [10:17]
- How to market a real estate company as a financial firm [11:32]
- Why real estate agents in luxury markets are essentially underwriters [17:18]
- Hot features in the luxury market today [21:48]
- One of the unusual things about Mike’s market [23:40]
- Where Mike thinks the market is going [24:32]
- Mike’s plans for a new real estate reality-television show [27:41]
- Recommendations for agents who want to get into the luxury market [32:48]
- How to break through your goals.
- Plus so much more.
Mike Shapiro is the Chairman and CEO of HÔM Sotheby’s International Realty. In 2008, he purchased a majority stake, recapitalizing the corporation. Employing his specific understanding of distressed markets, gathered while working as a market maker and trader at the Chicago Board of Options Exchange for nearly a decade; Mike’s leadership continues to inspire tremendous advancement. Growing from 36 associates and 200 million in sales to 400 associates and over 2.5 billion in sales, the company has become the leading purveyor of luxury real estate and related services in the region. HÔM also retains a staggering 2 billion dollars in listing inventory and another 500 million in exclusive offerings.
HÔM Real Estate Group, Inc. originated ten years ago with only ten agents. Unfortunately, the company began to feel the effects of the housing crisis in 2006. In 2008, Mike bought the firm and utilized his past experience as a market maker and trader at the Chicago Board of Options Exchange to majorly shift the company’s actions and outlook, which ultimately led to major growth in sales.
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