How to spot a ‘luxury’ listing on a luxury website
Luxury magazine listings can be the real deal.
For those looking for something special, they can be just as expensive as the actual items listed on the website.
But what you need to be aware of when looking for a listing is that luxury magazines are more likely to be the product of an agent, than a brand.
It’s a phenomenon that has been seen across luxury websites like H&M, Prada and Louis Vuitton.
“Most of the people that sell these are agents.
So they’ve got to be good at what they do.
They need to have experience and know what they’re doing,” said Arvind Sharma, a consultant and author.
In the US, where there are fewer luxury brands, this trend has been on the rise.
“The market is saturated.
It has a very limited number of luxury brands to choose from,” Sharma said.
“So a lot of people just go for the most expensive listing they can find.”
The problem with agents selling listings online is that it’s often hard to determine what’s genuine.
“Many agents are selling these luxury items as an exclusive and are not actually selling them,” Sharma added.
“And there’s a lot that goes on in those agent’s heads, which may be the cause of a lot [of] fake listings.”
While a lot is made of the fact that luxury items are often advertised for an extremely high price, Sharma said there’s more to it than just that.
“You also have to remember that the agent who is selling the listing is the agent, not the brand,” he said.
This means there’s no guarantee that the listing will sell.
“There’s no way to guarantee that you’ll get a really good listing for your money,” Sharma continued.
“Even the real estate agents who are selling are not the best agents in the world.”
As Sharma explained, it’s not always about the item being authentic.
“I’ll say this, if I wanted to get an apartment and I wanted something that I could afford, I’d go and talk to the agent,” Sharma noted.
“They might know that it won’t sell, or they might know it’s too expensive for you.
But they might not know that you’re going to be getting an apartment for that price, and they might be willing to sell it for $1.5 million.
They might be more than willing to do that.”
A listing may be a scam, or it may not be worth the hassle.
For many people, getting a real estate agent to help them get a listing on their website may not actually be worth it.
“It’s really hard to do a lot with an agent that you can actually trust,” Sharma explained.
“We’ve seen agents scam people in real estate deals in a way, where the agents actually lie and say they’re selling a property for $2 million, $5 million, or even $10 million.
“But you’re in a better position if you trust them.””
If you go to a realtor or an agent and they’re going for a $5,000,000 listing and you don’t know the seller, you can’t trust that they actually know that person,” Sharma concluded.
“But you’re in a better position if you trust them.”