The vast majority of us – myself included – do not sell or market ultra-luxury properties priced at $10 million or more daily. Living in an expensive city like New York, I’ve indeed been fortunate to sell several of these ultra-homes over my 25-year career, but the vast majority of homes I sell are priced below $10 million.  COMPASS sells luxury and ultra-luxury…..lots of it. By many estimates, COMPASS is the fastest established globally recognized luxury real estate brand in history…..about 8 years!

While you may dismiss this segment as something completely removed from your focus, don’t under-estimate its power. Ultra-luxury has spread its wings outside the obvious traditional areas New York, Los Angeles, San Francisco, Miami/Palm Beach, Aspen, Greenwich, etc. Ultra Luxury is seen in dozens of other parts and growing. Here are some thoughts on this:1.  Big fortunes are made throughout the year amongst people that can afford to buy these homes. Inheritance, lottery winners, etc are a few less obvious examples. Wealth is spreading around the US too.2.  While your area may not even have $10 million homes, some who live in lower priced areas have exceptional wealth and buy in OTHER areas around the country. The association with COMPASS that sells these properties around the US via its superb group of agents may allow you to connect a client – or friend/family member/associate – to an agent.3.  Everyone loves to dream. Many love reading about what the ultra-rich are doing, especially around their homes.4.  A luxury brand always showcases the best of the best to fuel the brand for all the other products it sells at much lower prices. The vast majority of people who shop Hermes are not buying that $100,000 Alligator handbag! Many shop at Hermes BECAUSE they know it also sells that crazy-expensive bag…..5.  Many agents wish to elevate their price-point. The easiest and cheapest way to do this is to become well versed on the subject and share your knowledge with your sphere.6.  Don’t ever think selling an ultra luxury property is quick and/or easy. Most times they require extensive work, attention, time, care, discussion, communication, thought, patience….and money. This clientele is (rightfully) extremely demanding. Sometimes an ultra-luxe property can take years to sell. Buyers of these homes are often dismayed at how much less they get for their money than they had imagined. The volume of sales at this level is relatively tiny with a very, very small – equally demanding – audience.

Being aware of this market makes for interesting dialogue at the very least. Speaking intelligently about this arena can fuel others’ perception of you. Your association may be invaluable. Knowledge is power. Sharing knowledge is powerful marketing.