More about the market demand, what makes the property a luxury one and what the client looks for in the luxury property you can find in the video here.
Many people consider luxury properties are expensive. This is not the primary feature to call a property luxury. When selling luxury properties, one of the main goals of the consultants is to make long-term clients, who return to them and who recommend their services. This is what Vesela Ilieva, Managing Partner at Unique Estates, shared in the Business Meeting show with Tania Krasteva.
Vesela Ilieva's entire career has been concentrated into the real estate sector - she got involved in the business when she was nineteen years old. She said it has been a real challenge to be a consultant, because there are no regulators in the sphere at the moment and there are no specific rules on how to do this business.
"It's the companies and business themselves that have tried to create their own rules over the years. We also need to educate our clients what the consultancy service is, why they have to pay us, what we can do for them, what they can expect from us, and how to do our job professionally. In my opinion, we still have to learn a lot in both directions, and above all, there is still no professional school to prepare and license the consultants."
Ilieva said that the difference between the sale of more expensive and medium-class properties is rather the attitude towards the client than the price. She explained that the higher the segment, the bigger the requirements of the clients and respectively the services consultants have to provide to their clients.
"The package we need to provide is a lot more complete and really requires more attention to the client. Real estate transactions are fewer, but the clients are much more demanding and well-trained."
In the luxury properties it is not a rational decision - what is the price per sq.m. or which floor is at a better price, the decision is based on feelings, Ilieva explained.
"That's why I say our clients make an emotional decision. They have to enter the property and feel happy and successful in this property and evaluate that it meets their standards. Of course, it is important who are the neighbours. A building can be considered a prestigious and exclusive one just because of the people who live in it. Or the story behind the building - who previously lived in it. Very often for some properties this can help - who used to live there, who lives in it now, who built it. This can spoil the image or raise the price."
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