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Should A Real Estate Agent Own A Fancy Car ?
There’s an interesting debate going on: should real estate agents opt for luxury vehicles, or is a more modest C-class car a better option? This topic was sparked by a post from realtor Andrea Hatton, who shared an experience where a former client decided not to work with her again because they found her car to be “too dumpy.” Curiously, her vehicle was a 2007 Honda Accord. This led to a lively discussion on Facebook about whether flashy cars are appropriate for real estate professionals.
For realtors, driving is a daily necessity since they often cover hundreds of miles, which makes having a reliable car essential. The type of vehicle an agent drives can significantly impact how clients view this person, making it crucial to select the right one. As a result, some agents may invest in high-end cars, even utilizing services like Cars Relo to ensure their vehicles meet client expectations. There’s a belief that driving a flashy car can enhance the chances of closing a deal, while others argue that it might create a sense of distance or even prompt clients to seek larger discounts.
Luxurious Car Doesn’t Mean A High Commission
A member of the group who views driving luxury cars as an advantage points out that the real estate industry is heavily focused on image, not just the properties themselves, so a nice car can be a draw. However, a broker in Atlanta offered a different perspective, emphasizing the importance of the quality of services over flashy accessories.
He feels that clients appreciate working with successful real estate agents, but their commissions shouldn’t be excessively high. He also shared a story about a friend in Atlanta who drives a fancy Ferrari; despite his luxurious vehicle, his commission isn’t that high, yet he has managed to sell properties worth a whopping $143 million.
Two Opposite Impacts Of Expensive Autos
Some agents openly acknowledge that their choice of vehicle plays a significant role in how they are perceived. This is particularly true in cities like Miami and San Francisco, where the type of car you drive can be seen as a reflection of your success in the real estate business.
Hector Chinea points out that he knows buyers who have turned down agents simply because they looked scrubby. However, there’s another perspective to consider.
There have been cases where driving an upscale car led to misunderstandings. Some clients assume that agents with luxury vehicles have higher commissions and attempt to negotiate lower prices. One woman even expressed her frustration at seeing a realtor who sold her home for less than it was worth driving a fancy Mercedes.
Brendan Clemmens notes that a realtor’s car can have two very different effects on clients. Some may think that agents are overpaid and seek discounts, while others view the car as a sign of success and hire the realtor without hesitation. Consequently, many realtors have concluded that the ideal vehicle is one that conveys success without being overly priced.
A Fancy Car Vs A Real Estate Market
A more sensible approach recognizes that the ideal car for a real estate agent varies based on the market they operate in and the clientele they aim to attract. Realtors specializing in luxury properties can justify investing in expensive vehicles, while those working in urban settings or with smaller properties should consider more affordable, middle-class options. It’s not unusual to spot a Bentley in cities like Los Angeles or San Diego, but if such a car is parked next to a modest wooden home in rural Nevada, it might raise people’s eyebrows.
So Does A Car Have Any Influence On Clients?
Realtors often emphasize the significance of driving American-made cars. There have been cases where agents lost valuable listings simply because they were not in domestic vehicles.
On the other hand, some individuals argue that the type of car a realtor drives has no impact on their clients. A number of realtors confess that they prioritize their own comfort and preferences over their clients’ opinions about their vehicles. Interestingly, there are examples of real estate agents who, despite driving inexpensive cars, have successfully closed major deals without any issues related to their vehicle.
Ultimately, Lori Winterhalter summed up the discussion by highlighting that it’s not the car that counts, but rather the realtor’s attitude towards their clients that truly determines the deal success.
