I was fortunate to live in one of those communities when I started in the business and grew my business from there in the beginning. After my repeat business started, my buyer clients were moving up and I've just always gone with them. 

Whether they're upsizing, downsizing or buying their first home, I can, will and do sell in any price range!

$600,000 is far below the luxury market in our area.

Learn everything about your desired market and focus your marketing.

I echo Debe Maxwell, CRS and John Juarez - as I am one county over from John and even $1M is not luxury in my market.  Target serving clients well and you will grow there (wherever there is) with them. 

I don't think anyone just jumps to a higher price range.  It is a gradual thing to work the higher end market as you learn the nuances.

Besides, I think pretty much everyone also works the lower  priced propeties more often.

Eve 

In our market, luxury is not considered $600k.  I don't understand your specific question, sorry.   Good luck. 

600k and up?  Oh man, to get into that market here you have to have a pulse!  Starter homes START in the 600s!

I just checked the mls for Fremont, Ca. where my office is.

Total Active listings: 223

Average List Price: $1,253,881

0-$500K = 13 listings

$501K to $1Mil. = 99 listings

$1,000,001 Mil.to $2Mil. = 88

Over $2 Mil. = 23

We work in the heart of our market.

Fremont is not generally considered a luxury market but there is one Fremont listing for not quite $10,100,000.

Real estate is local. We are part of Silicon Valley…land of crazy real estate prices and other crazy stuff.

New agents always make this mistake ....

In San Diego, CA luxury starts at $1.2+ in my opinion/experience.

I decided to serve that market because I grew into it essentially by default in The Bay Area, in San Mateo,CA. Once Silicon Valley blew up and became a thing, around 1997-1998, house prices went from $600-800K to $1.1M over night.

With a few of those under my belt, I parleyed those sales into my marketing a bam! Luxury Agent by brand and then the brand caught up to the agent with more sales. In San Mateo, $2 Million barely scratches the surface of average compared to San Diego where that is definitely luxury.

In San Diego it was harder because I started out selling condos. But, eventually I took some Luxury Designation courses to sharpen my marketing and was referred a few higher end buyers and voila, stepped right back in.

But, I added it to my repertoire, it's not my exclusive gig, because I serve the military with passion and they tend to be $300k-$900K unless retired with 20+ and an officer.

I don’t care your price point but working the higher price point requires the same amount or less amount of effort with greater reward.  

Be a part of these community.

I wish I had a luxury area, I would be talking to every person in the neighborhood

 Average price in the county has receded somewhat to $1.1M. Mtn View , CA starts about $1.9 to $3.9M in former blue collared look alike homes.....

High end-- I wear a suit and drive a borrowed Tesla S. Other areas I wear and drive what I feel like. Most business is referral. Alligator skinned boots and diamond stud Rolex watch is not going to win the hearts of estate home owners. They probably know 10 other agents all are esquires.

I don't join country club, raise funds for politicians so it is the people connection. I feel fine without an army of lawyer realtors asking why the seller did not pick them.

Message is to be yourself. 

Never concetrated on the luxury market. Took what came my way by way of listings and buyer referrals.

.

I don't just focus on "luxury" market... it's a small percentage of our overall market. I sell homes in all prices ranges. And, I believe, that luxury needs to be defined beyond just price point... and awful lot of homes under $1 million are quite ordinary and not anything I'd define as luxurious.

LOL, that is below average here.  Anyway, I'm not an agent so I can't give you agent experience. But, for my flooring business, I work with a lot of higher end homes (i.e. $1 million+) and luxury homes (maybe $2 million+). 

For me, the following things helped.  1) networking with real estate agents who are in higher priced towns and/or higher end of market and decoratators (so find your equivalentparallel e.g networking w/ higher net worth individuals, attorneys, mortgage brokers that service these areas, rotary clubs, financial advisors, etc.).  2) blog about topic that higher end of market/fashion forward people are interested in.

Also, and I hate to say this because it may come out wrong, but being highly educated really helps.  Some will argue being well dressed, etc. but I believe education is more important.  How you speak and communicate really matters.

A sale is a sale is a sale no matter what price points you're looking at. We used to sell lifestyles now we have to sell experiences in the luxury market. It's not so much making the jump it's knowing how to land when capturing these customers. Be confident & knowledgable in and of them and their environment and all will be well. Overcome your fears and indulge.

I did not jump, but started there.  I am fortunate in that I have been involved in that market personally for many years and understand the needs of the community.   If you ever want to have a conversation about the market, I am happy to share.

I also suggest joining and taking the training offered by The Institute For Luxury Home Marketing.,

Dan Capra - What you FOCUS on E X P A N D S - that BOLD Law!

Let us get together and I can show you few ways to do so.

(And if possible, plan to attend my next Peak Producers training, starting in September.)

I guess - be part of community. 

I mostly watched the homes in my area get more expensive.  Time in the business, broader contacts, more referrals.  

Repeat customers upgraded

   When I was a member of the Sarasota Association, I studied the brokers and agents who sold the 7 and 8 figure houses on the beaches and bays.  Those agents lived the lifestyle of the people they were marketing to.  They belonged to the yacht club, the country club, they lived in high-end houses, etc.

Dan,

Luxury here is closer to $2million. I was always attracted to luxury and grew up around it. A

Get a knock out car!

My clients have moved up in price.

It takes just as much effort for much more profit.

Luxury market.

That typically means the top 10% or real estate valued 70% above the average sold price.

The best way to JUMP IN is to move in.

Remember, this is the 'influence' market so it is imperative to inject yourself where influence is bartered. But, if you influence nothing, it's kind of a empty pockets problem.

Partner with a luxury agent or team.

Remove a few zeros and the properties are all the same!

Here in average price can be 200-300k. 500 k is not unheard of. When you hit 1 million, it is a different animal, here anyway those who sell luxury and just luxury, shun anyone else who lists it. They talk down frequently. For me i like doing both as luxury takes more time, but does pay more, but i like to stay busy

I always listed a variety of price ranges when I was just starting out..... always a listing agent, with the exception of the first several months in the business.... 

I never wanted the top dog priced homes in a moderately priced town....