There’s a common perception that realtors drive luxury cars and the latest models. Although it’s not completely accurate, there are some elements of truth to this belief. So, why do realtors drive nice cars?
Realtors drive nice cars to appear successful and attract clients. But it could also be for comfort and personal branding. In most cases, realtors that drive luxury cars lease them. If you’re planning to get a car as a realtor, consider your target market, location, and fuel efficiency of the car.
However, if a luxury car will be suitable for you based on those considerations, don’t hesitate to get it. It has some impacts on attracting clients. Here, we discuss why realtors drive nice cars and what to consider when getting a car as a realtor.
Reasons Realtors Drive Nice Cars
Everyone has a reason for choosing a particular brand or type of car. For realtors, their reasons for driving nice cars include:
1. Give the Appearance of Success
In the same way that people dress for the job, cars are fundamental to a realtor’s lifestyle. Sometimes people get to see the car a realtor drives before seeing them. So, most agents go for luxury cars to give the impression they’re doing well. Projecting success is quite important for the role as they’re constantly meeting new people.
While most people won’t admit it, we all judge people by what they have. Someone trying to get a million-dollar house may feel more comfortable discussing the deal with someone driving a Lamborghini or Lexus. A car that shows they’re successful at their job. Clients want that, and it gives them the confidence that the realtor will help them close the deal.
Realtors spend a lot of time in their cars. Whether meeting a potential client or driving a client for inspection, it’s possible to spend more time in the car than in the office. So realtors try to get a car that’s comfortable enough. In some cases, that means going for the luxurious brands. Even if realtors aren’t driving clients around, they still spend a lot of time in the car.
3. Compliment Personal Branding
Cars can also contribute to the brand of a realtor. Some realtors go for nice cars that represent their brand to the client. For example, someone marketing homes to the uber-rich young people could go for a sports car. This makes it easier for the client and realtor to relate on a more personal level. Sometimes, the car can also communicate something about the values of the person driving it.
How Do Realtors Afford Luxury Cars?
If you see a realtor driving the latest luxury car, it doesn’t mean that they bought the car. Most times, realtors lease the car. This makes more sense commercially for agents who like to drive the latest. Realtors are independent contractors working on commission. Many consider the car a business expense rather than just personal use.
Impact of Cars on Realtor’s Business
Realtors that drive luxury cars do it because they believe it helps their business. While this may be true, it’s not absolute. Some clients might pick a realtor based on the car they drive. But most don’t care. It’s also possible that when the client sees the agent in a great car, they assume they’re already doing great and don’t need the money. So, realtors achieve that successful projection. But they may lose money as a result.
Of course, not all agents drive luxury cars. Realtors aren’t different from average people. Some drive luxury vehicles, and some drive regular cars. You’ll even find realtors that use public transport. Beyond that, cars don’t necessarily mean a realtor is successful or good at their job. Many realtors know this and don’t bother getting a luxury car.
While a luxury car is nice, what’s more important for perception is the car’s condition. A luxury car in bad shape doesn’t communicate successfully. So, it’s more important that you make extra efforts to keep your car looking great.
Factors to Consider as a Realtors When a Car
Getting a car is a major expense which means it’s important to make the right choice. As a realtor trying to get a car, these are the things you should consider:
The location matters when getting a car. In some areas, luxury cars are perfect because they’ll work perfectly. But the same cars in another area would be a waste of money. For example, a realtor in the posh areas of California could be driving a Lamborghini and won’t feel out of place. But driving that same car in Ohio would be a total waste of money and resources. Some realtors drive pickup trucks, sports cars, etc., because it’s what works for them. Just look at your location and choose what works.
2. Target Market
The target market also matters. Two realtors in one city could have different target markets and require different cars. For example, if you’re a buyer’s agent for family homes, it makes more sense to drive a car that can accommodate a whole family. Thus, if you have to drive the family to inspection, there’ll be enough space in the car to occupy them.
However, if your target market is multimillionaires or you’re a listing agent in Beverly Hills. It makes more sense to drive a luxury car. This way, you can avoid disappointing the clients that care about cars and that sort of thing. And those who don’t care won’t even notice.
If you sell low-budget homes, driving a luxury car might make the buyer think you’re overcharging on commission, and they’ll try to bring it down even when it’s low enough. Picking a car that suits your target market is a good way to put your client at ease.
3. Fuel efficiency
It’s also important to consider the fuel economy of a car. Realtors spend a lot of hours in the car. This means using a lot of gas. A luxury car with bad fuel economy will be a disaster, especially if the realtor isn’t a big earner.
Balance is the most important thing when making a decision. For realtors, it’s this balance they mostly strive to attain when getting a car. Many will go for comfortable and nice vehicles that aren’t too expensive. As for the client, it’s important not to judge a realtor based on the car they drive. Great cars don’t necessarily mean the person is the best for the job.