EP. 97 | Michael Kollosche - Founder Of Kollosche With Over $7B In Settled Sales
Oct 22, 2024
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Michael Kollosche, founder of Kollosche Luxury Real Estate, has navigated over $7 billion in sales. He shares essential tips for breaking into the high-end market and emphasizes the importance of building trust through genuine client relationships. Discover the intricate 42-step process for managing listings, and learn how teamwork drives success. Kollosche also discusses the impact of wellness on work culture and his journey toward a community-focused legacy, blending personal growth with real estate savvy. A mix of humor and wisdom awaits!
Building long-term client relationships and consistently providing valuable advice are essential for success in the luxury real estate market.
Creating a client-centric experience through effective communication and high-quality service helps agents capitalize on missed opportunities and attract clients.
Fostering a collaborative office culture among agents enhances performance and promotes knowledge sharing, leading to overall success in real estate.
Deep dives
Positioning in the Prestige Market
Successfully establishing a brand in the prestige real estate market involves focusing on long-term relationships rather than short-term gains. The speaker emphasizes the significance of consistently providing valuable advice to clients, as most property transactions typically happen every few years. This approach aids in building trust and ensures that clients seek their expertise for informed decisions in future transactions. Whether dealing with lower or upscale properties, the experience offered remains the same, thus fostering an inclusive business model.
The Importance of Client Experience
Creating a client-centric experience is essential for standing out in a competitive real estate environment. The speaker notes that many veterans become complacent, failing to serve all potential clients effectively, which opens avenues for newer agents. By delivering consistent communication and high-quality service, agents can capitalize on missed opportunities and attract clients who value personal engagement. The importance of follow-up and treating all inquiries seriously is highlighted as a key to maintaining relationships and securing listings.
Adopting a Long-Term Mindset
Real estate is portrayed as a lifestyle that encompasses ongoing dedication, continuous education, and a strong work ethic. The speaker reflects on how understanding market dynamics, engaging fully with clients, and avoiding overpromising leads to success in the industry. Rather than succumbing to the pressure of immediate sales, taking a strategic long-term approach where the clients' best interests are prioritized can ultimately lead to a higher success rate. Competitive environments generated through auctions and keeping buyers engaged without revealing too much upfront are techniques leveraged during the sales process.
Collaboration Over Competition
The value of collaboration among agents is emphasized as a driving factor behind success in real estate. The speaker advocates for an office culture wherein agents support one another rather than engage in cutthroat competition. Knowledge sharing and teamwork are deemed vital for creating a positive work atmosphere that enhances overall performance. Such a collaborative framework allows agents to learn from each other and fosters a sense of belonging and shared purpose within the organization.
Community Engagement and Fulfillment
Engaging with the community adds depth to the business's identity and creates a fulfillment aspect that transcends monetary success. The speaker mentions a community fund initiative where a portion of earnings is donated to local causes, thus strengthening community ties and enhancing brand reputation. This outreach not only serves to improve the quality of life for residents but also instills a sense of responsibility within the business. By prioritizing community welfare, the brand experiences organic returns as local trust often translates to business growth.
In this episode, we sit down with Michael Kollosche, founder of Kollosche Luxury Real Estate, who has over $7 billion in settled sales.
Michael dives deep into what it takes to become a top real estate agent, how to start selling properties in the $10M+ range, and even reveals how to leverage your skills to become a multimillion-dollar writer.
If you’re aiming for success in luxury real estate or high-ticket sales, this episode is packed with valuable insights to get you there.
Tune in.
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