1011 Cordova Street W PH01, Vancouver (Sotheby’s International Realty)
Realtor Tanis Fritz knows the importance of discretion when working in the luxury real estate market. As the listing agent for one of Canada’s priciest condo listings—a $21-million, 6,480-square-foot penthouse in Vancouver’s Fairmont Pacific Rim Residences—she understands what it takes to succeed at this level.
“Having a reputation for discretion at this level is a differentiator,” says Fritz, a Sotheby’s International Realty agent.
And Fritz understands the ultra-luxury level. According to the Vancouver Sun, her penthouse listing at the Pac Rim is owned by none other than the crown prince of Dubai.
So, how does one land a listing from a crowned prince? While Fritz can’t discuss this property specifically due to client confidentiality, it’s clear that such high-profile listings demand unparalleled levels of care.
Position yourself in the right circles and be patient
Accessing the luxury market requires strategic marketing, asserts Rochelle Cantor, a Montreal-based top performer with Engel & Völkers. The key is not aggressive self-promotion but a steady, calculated approach with long-term intent.
Cantor, who has over $1.2-billion in career sales and 1,300 sides, says establishing credibility requires immersing yourself in the environments and communities where luxury clientele live and operate and residing where you want to sell—or at least knowing the area inside and out.
Cantor lives in Westmount, an upscale community in Montreal. “I raised my kids there, volunteered at the school and took advantage of every touchpoint (and) learning opportunity I could,” she illustrates.
Fake it till you make it and leverage your agency
While establishing trust in this space requires authenticity, solid expertise and strong relationships, until they achieve it, many agents stand by the adage, “Fake it ‘till you make it.”
“(It’s) true, but how you fake it in the affluent world is different,” Cantor explains. She doesn’t think it’s necessarily about “looking the part,” as her success in selling some of Quebec’s most expensive properties comes from learning her market and speaking with intelligence.
However, Fritz notes a certain poise can be helpful. “I feel better about things when I have a clean car and a polished appearance … more powerful and in control of the process.” It’s about how she carries herself and having “grace under pressure.”
Cantor advises leveraging your agency’s reputation and tapping into experienced agents’ luxury expertise—for which collaboration is crucial. “It has to be the ‘we’ conversation. Put your own spin on it.”
Manage communication and expectations
Tanis Fritz
Fritz emphasizes the importance of giving thoughtful advice and managing expectations. This can be invaluable if a property takes longer than expected to sell or another challenge presents itself. “Being clear, concise and direct is a winning approach in this market,” she stresses.
She suggests establishing clear reporting parameters catered to what’s important to your client. “Do they want a scheduled call every time? A total debrief after each showing (or at set intervals)? Are they data-oriented?”
However, this needs to balance with what the situation calls for. If, say, a client prefers texts to calls, Fritz points out, “There are cases where text won’t cut it, and I’ll certainly speak up for that. You can have your parameters and guardrails flow within a client-centric approach.”
She emphasizes implementing clear processes and not straying far from them. Fritz is adamant about proactivity to ensure clients never wonder what’s being done to sell their homes, so market and marketing updates come at their preferred frequency.
Run your business like a publicly traded company
To win, Cantor notes it’s about consistently “planting your seeds”—either selling or creating awareness about your market knowledge. She also stresses the importance of running your business like a publicly traded company, something she learned early on from her tech industry experience.
She uses forecasts and pipelines and sets annual financial targets rather than focusing on specific property types or values. Numbers run the same way, whether it’s a $2-million or $12-million property.
Rochelle Cantor
Above all, “I don’t chase after the $10-million plus sellers.. In my market space, less than six brokers sell all houses over $4-million.”
Instead, Cantor, who didn’t actively seek luxury but took an opportunity that propelled her career there, advises understanding your business and setting realistic goals. “You might be a lot happier selling five $1.5 million homes than one $10 million home—that’s a lot of risk.”
Nail the listing presentation
For listing presentations, Cantor always has a document checklist and a full package ready to tweak based on the property. She asks many questions, understands the competition and researches comparable properties and municipal evaluations.
She won’t talk numbers until she’s seen the property and done her homework, and she doesn’t focus heavily on the agency or hard-selling, as people are in it for the long game. “The question is who (clients) feel more connected to and confident in representing their best interest as honestly as possible…They think of me because over the years I became their trusted advisor.”
That said, your agency can certainly help, especially in the beginning. Fritz didn’t attract ultra-luxury listings until she joined Sotheby’s. For success in this market, she believes an agency needs the right “track record, authority, consistency and reach.”
When you eventually land the listing, Fritz says you need best-in-class visuals, from staging to photos to videography, to support your price and strategy. “Build time to accommodate the weather. Especially in British Columbia, if you’re dealing with a view property, you need beautiful skies to showcase it.” This also means finding professionals who can remain flexible to accommodate that variability, she cautions.
Don’t limit yourself
Breaking into the upper echelon doesn’t require abandoning mid-tier sales, Fritz, who has a public relations background and was intentional in moving to luxury, recognizes.
She chooses not to limit herself to specific life and financial stages. “I have a lot to offer different clients, and they have a lot to offer me…I hope I can continue to work well in all sectors of the market.”
Cantor firmly believes that the selling mentality of the uber-wealthy is not that different from the mid-tier, with the primary difference being budget and financial concerns. Instead, high-net-worth individuals focus on legacy, exclusivity and investment potential.
Her most important takeaway over the years? “Knowing that we’re all people. Just because somebody has a lot of money doesn’t mean they’re better. You have to believe in that, and you have to believe in yourself.”