Realtor driving a Ferrari

Don't do it as a daily driver, IMO. I also drive an M5, that's my DD. perfect car for DD. but, to each their own! The model of Ferrari probably matters too. People may not care about a 456, 612, or 599. California T might cause some heartache, but whatever, it's your life. Any peers driving a Ferrari?

 

I'd say it depends on the sort of property your selling, if it's very high end maybe ok but anything else I'd say it sends the wrong message.

 

The key to driving around clients is comfort. An M-5 is tight. I'd go with something bigger. And a Ferrari is way too tight.

 

Drive what you like...it shouldn't make a difference.
In your particular field of real estate especially. It's not like you're the one setting the asking prices for the properties, etc., and if anything it may give your clientele the impression that you are established and successful at what you do (they won't know that you've leveraged your own house, owe your bookie 30 large, and are at the peak of your ponzi scheme ). If you want it, buy it.....

 

I know a guy who has a B-7. He drives at breakneck speed all the time and clients refuse to ride with him a second time. He loses clients all the time because of the way he drives.

 

A successful local realtor in HB has driven a RR Phantom for years. Very noticeable, but behind her back, people slam her. The most successful realtor in my area and in Orange County overall drives a black S550. It works for him....

 

My opinion woudl be thta youa re making too much money and not very wise with it.
Possibly deponding on the market i might assume you are great at ehat you do so can afford a ferrari.

In reality cars cause all sorts of emotions and envy. get a ferrari and use it on the weekends, have a nice sensiblke big car for going to work.

 

My thought would be that you are just like me, very good at what you do. I have driven my Ferrari to client meetings and only once had a "comment" that they were paying me too much, I replied that I was that good at what I do and that was why they needed me. I got the job. My Ferrari has never hurt me in business dealings. On my "day" job there has been comments from my boss and also co-workers at first but now they don't care and ignore the car, its not hurt me at work either.

I know, I know lots of people here are scared to drive their Ferrari and will say it will cause issues but it will only cause issues if you make it cause them by being a ass about it, drive it like a normal car, park it like a normal car, don't brag about it and it will be ignored. The only time my 360 causes a issue was when my wife drove it to her work, the kids went crazy over it but she works at a local high school and parks in the student lot, she still takes it to work sometimes but less often now.

Get your California and I might have to let you show me a few houses just so I can ride

 

I attended a foreclosure auction yesterday and the listing agent had a Porsche Cayenne Turbo with all the bling parked at the curb...young guy, dressed to the nines and smoking a big cigar with another realtor.

All this in to show a $35k property with its roof falling in. IMO he looked like a tool and I wouldn't hire someone like that to represent me.

Image is important, but not so much that it distracts the client from the job at hand.

 

I don't think a Ferrari in Real Estate is a bad thing because in reality you are not screwing anyone. Here in Canada its fairly well known that the listing is done at a set commission. Someone can correct me if it is wrong but 5% total (2.5% buyer, 2.5% seller). What this in essence should mean is that if you can afford a Ferrari you have sold alot of houses not screwed lots of people.

Considering that Ferrari will most likely only hold two it is a bad idea. I would stick with a bigger 4 door luxury sedan though for business. I've had times where I would go out with a client and someone else calls or something comes up. Well if you really want to work it you have the option with seating for 4 (in reality) .A8 or Mercedes is never a bad choice. A few cool gizmo's inside always helps once the customer is in the car.

 

A Cayenne is usually non-offensive. Sounds like the individual is making a statement (cigar, etc., bling). (Kind of like "guns don't kill people, people do"). It comes down to the person, not the car.
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I'm not picking on Cayennes specifically, it just really stood out. This particular guy was determined to make a statement but the car is a big part of that. It becomes "hey look at me" not "hey, look at this great property and how committed I am to working with you"

The most effective realtors I've known are pretty low key, but then again I'm posting from Cincinnati, not Monaco or SoCal.

 

For a sales job I'd stick with something that is luxurious (the M5 is fine) but not over the top. A cushy SUV like an Infiniti QX80 or Escalade is safe, sturdy. S550, A8, 7-series, LX, Equus, etc. would be the limit.

I'd say that anything over $90k retail is probably too much and would make buyers queasy. Even rich clients could either be jealous or think you're frivolous (in other words, poor judgment).

I'm not saying don't buy a Ferrari as a toy, though! But it's not a good work car unless your clients/customers don't see it every day.

 

A Maserati is your best option.

As long as your % is the same as the next guy/girl , your potential and existing clients should find this satisfactory.

It's nice to see an agent drive something high end, but ultimately, I only care about his negotiating skills to benefit my goal. Odds are good if you are driving such a high end car, it instills some confidence in you being successful.

Do the Maserati ! Save the Ferrari for a Sunday drive to the park.

 

How often do you want to hear "we are just a commission apart on this deal"?

 

I wouldn't. I'd have a nice car but not tooo nice a car. People might think things. I think a Merceds, BMW or Porsche is nice enough..

 

Depends, i would say you would be perceived in the wrong light. Save it for the weekend or when your doing other things.

 

A Cali might be OK if you are selling $2MM+ homes, but not if your market is under $1MM.

If you are selling high end and I was a customer, I'm telling you right now you would have to concede 2% of your commission or I'm walking.

 

real estate markets fluctuate up and down, almost like the weather, the long standing barometer for an agent's / broker's success and market conditions is not by the high end brand of car driven, but by the condition of the tires on car.. :=)

 

wow, like I said earlier, lots of people scared to admit they own a Ferrari and don't drive them as a result.

Enjoy the M5, its not a Ferrari but then you wont be asking for 2% of your commision as if that really would ever happen.

 

What about a Aston Martin , RR, Bently, or Maser. Would we say the same? Maybe Ferrari still carries too much baggage but the day they become like every other car the day they loose their desirability. For some reason there is always a thread like this and I am addicted to what people say here. I struggle with this occasionally now that I a min the market for adding anew car to the stable.

 

If you are a great real estate salesperson, drive whatever you like. If you never take clients out and they always meet you at the property it may separate you from the hundreds of others. It gives you a marketing edge, the guy who drives the ferrari, he was fantastic found us the right house or he is superb he sold our house above market with multiple bids. No one will forget you it will be your identifier, like the "Golden Arches".

So no more posts from this inquisitor. What gives?

 

If your OK with loosing a percentage of business go with it; Lifes too short.
I'm thinking up to a third of your business.

 

I'm thinking you'll boost your business by 30% just by having the ability to get to said locations faster than the competitors....and then you'll boost it another 30% based on arriving in style That's a 60% increase, which could more than pay for the car....hell, the car is now paid for by the net profit...it's free...this is a no-brainer.