074: How to Become a Luxury Real Estate Agent with Alex Goldstein

On today’s episode of the InvestFourMore Real Estate Podcast I interview extremely successful real estate agent Alex Goldstein. Alex has also been a real estate investor and what brought into the luxury real estate agent business was losing just about everything he had in the housing crisis. Alex was invested heavily in the Phoenix market before the crash and he saw his holdings drop 50 percent or more in value in a very short period of time.

Alex did not give up on real estate, but instead changed his focus from investing to being a real estate agent. He chose to work in the high-end market as an agent because he was familiar with it and comfortable with the clientele. On this show we talk all about how Alex got started, what he does to attract clients, how he is able to impress his clients, and what his future goals are.

How did Alex get started as a luxury real estate agent?

Alex was a real estate investor in Phoenix in the early and mid 2000’s, but his world turned upside down when the housing crisis hit. He lost just about everything he had, but did not give up. As a real estate investor he had many dealing with real estate agents. His overall impression with agents was that he was not very impressed. He thought many did not do a good job for him or other clients. Alex decided to become a real estate agent, because he knew he could do much better and there had to be demand for good real estate agents.

Alex started out chasing low-end deals because that was what every real estate agent did. As his first year progressed he ended up doing a 1.2 million dollar deal. After he completed the deal, his entire world changed. He enjoyed working with the high-end sellers, they were not as time-consuming, and he made a lot more money on the deal. He decided from that point forward that he would focus on luxury real estate.

Why does Alex enjoy working with high-end clients as a real estate agent?

Alex feels very comfortable with high-end clients. When he was investing in real estate he dealt with million dollar homes. His inner circle includes manner high net worth individuals, and it was natural for him to relate to them. When Alex did his first deal with high-end clients he was amazed how much easier the deal was! You may assume the more expensive a house is, the more work it takes to deal with the clients, but that was not true.

Alex found that high-end clients were successful because they valued their time and they knew exactly what they wanted. They did not look at 50 houses, when they already knew 47 of them would not be a good fit. They looked at three houses that they knew might work and skipped the houses that would not work. When they found the right house, they would write up a contract right away, and not dilly dally second guessing their decisions. When he spoke on the phone to his clients they got right to the point, and did not waste time. The luxury clients also had their finances in order.

How did Alex find clients to buy or sell luxury homes?

Alex does not have any secret marketing tips. He simply networks with people in his inner circles and does an awesome job for his clients. Alex does have a great technique to impress and keep the clients he meets. He has written multiple books on real estate and gives a book to any potential client he meets. Once a client receives the book they are immediate impressed, and it gives Alex instant credibility.

No Nonsense Real Estate is one of Alex’s books. In fact, I have stolen Alex’s idea and started to write another book focused on general real estate practices.

What advice does Alex have for real estate agents?

Alex has found his niche in the luxury real estate market, but that may not be for everyone. He suggest you work with the buyers and sellers you are most comfortable with. He has a few more tips that I completely agree with:

• Focus on one or two things to be successful. Do not try to make money doing 8 different things your first year in the business.
• There is a lot of competition, but most agents are not very good and most try to do the exact same thing. Be good at your job, find your niche and focus on it, and you can be successful.
• Alex thinks it can be tough to be a young agent, but they can still succeed. He suggests joining a team to give yourself experience and credibility if you are young.

How can you reach Alex?

You can find Alex in Phoenix at the Realty One Group. You can also check his books at Nononsensebook.com and publishtosell.com.