Luxury Listing Specialist - Dominate High End Listings In Any Market

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Leveraging Your ‘Social Capital’ to Grow Your Luxury Business w/ Meghan Barry & John Brian Losh from Who’s Who in Luxury Real Estate

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Reach and relationships are the lifeblood of a successful real estate business, and it all starts with social capital. What is social capital and how can you leverage it in your business? How do you stay connected socially in your local market? What is the most important metric when it comes to connecting people? On this episode, I talk to Meghan Barry & John Brian Losh from Who's Who in Luxury Real Estate about the power of social capital.

 

Luxury agents need to be highly connected and highly educated in the higher-end market. Being highly educated and knowing how to position a luxury home is vital. -Michael LaFido

 

Takeaways + Tactics

  • For building a new connection, there’s nothing more important than a personal introduction and endorsement.
  • It’s not about the wealth of the people you’re connected with-- it’s about reach and whether they are good people.
  • Being a connector of people to property, people, and agents is critical.

 

At the start of the show, we talked about how Who’s Who got started and the vision Brian had for it. Next we talked about the concept of social capital and why it’s so critical for a luxury real estate agent. We then shared on how to stay connected socially in your local market, and why being a connector is so powerful.

We also discussed:

  • The importance of being highly educated and connected in your market
  • Why knowledge resonates with luxury buyers and sellers
  • Why the social capital conversation is so necessary

When you think about how connected we are with social media and texting, it’s easy to connect with people but it’s not always a real true connection. Social capital is how you build authentic connections. Being a connector of people to property, people, and agents is really important. It shows people that you really know your local market and the market beyond your own reach. Having that ability resonates people who are buying in the high end.

Guest Bio

John Brian Losh is the founder and chairman of Who's Who in Luxury Real Estate, and Meghan Barry is the president. Who’s Who is a worldwide collection of top brokers representing the finest luxury properties across the globe, and has been leading the real estate industry since 1986. Who’s Who in Luxury Real Estate’s global network is showcased on LuxuryRealEstate.com, which remains the #1 portal for luxury properties on the web and has more $1,000,000+ content than any near-peer. The company has been recognized as a leader in the industry by Forbes, The Webby Awards, Web Marketing Association, Maggie Awards, ADDY Awards, the Inc. 5000 List, and more.

Location, Details & Bringing Value in Luxury w/Lesli Akers, President of KW Luxury International

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Some people think luxury is the same thing across all the markets, but it’s actually relative to the given marketplace. What are some of the biggest trends in the luxury market? How does location fit into the greater understanding of the market? How can you empower yourself with information in the luxury arena? On this episode, we are joined by someone who has their finger on pulse of luxury, the President of KW Luxury International, Lesli Akers who shares key insights and strategies.

You market the property, but you also have to position it correctly. -Lesli Akers

 

Takeaways + Tactics

  • Location depends on view and proximity to the most valuable assets of the area.
  • Go out into the market and see the details of new constructions such as the materials being used. It helps you understand the value of the homes.
  • You have to position the home accurately to get eyeball traffic.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

At the start of the show, Lesli shared on her background and how she became the President of luxury at KW. We talked about how luxury can be defined differently, and why you need to do a good job of documenting and articulating all the details of a property.

We also discussed:

  • Trends in the luxury space
  • How to tell the story of a home
  • How to succeed as a newer agent in luxury

One of the key factors in luxury real estate is your ability to tell the story of the home. When you’re a newer agent in this space, it’s so important for you to go out into the field and see the details of the home. Find out what’s being used to build and what can you learn, because there are many differences that affect the value of a property. Arming yourself with this knowledge will set you apart.

 

Guest Bio

Lesli is the President of KW Luxury International. As the Hall of Fame Team Leader of one of the world’s largest, most profitable real estate offices for nine years, Lesli Akers knows a few things about growth and adding value. Under her leadership, the Keller Williams DFW Southlake (Texas) market center grew to nearly 700 agents and consistently ranked among the company's top performers. She is passionate about teamwork and succeeding with and through others and exemplifying the core values of Keller Williams. Find her on LinkedIn https://www.linkedin.com/in/lesli-akers-82961810/.

How We Worked with Brian Culhane to Secure His 1st Trophy Listing ($6.5m) and What He’s Doing to Leverage It

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In a busy market, it can be tempting to list a luxury home on the market without properly positioning or restoring it. Why does this usually lead to the home sitting on the market for a long period of time? How do luxury listings create high leverage opportunities? On this episode, we are joined by co-founder of eXp Realty, Brian Culhane, to discuss how we worked with Brian to increase his chances of selling his new $6.5m trophy luxury listing quickly.

"The student has to seek out the master.” - Brian Culhane, Co-Founder of eXp Realty

 

Takeaways + Tactics

  • Treat a dated luxury listing like a painting restoration.

  • Listen to the clients. They’ll tell you everything you need to know if you ask the right questions.

  • If you’re a lower producing agent, small office, unique or don’t have a proven track record: learn from the best.

  • Listings are an opportunity to get other listings, but also to meet other influential high net worth people.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

At the start, Brian shared on the factors that are contributing to eXp’s growth. Next, we discussed the importance of considering restoration work for a house and how luxury listings can actually be opportunities for networking with other high-end professionals. We then talked about the importance of coaching.

We also discussed:

  • How to win in luxury when you have no proven track record
  • How to learn more about what sellers want
  • The local listing Brian won

First impressions are so important when marketing luxury homes. Never underestimate the power of putting some work into a home before you list it. It could be difference between it selling immediately or it languishing on the market for months or even years. Don’t be tempted to throw a home on the MLS. A little extra time and effort can earn the sellers more money. When you’re in a buyer’s market and you represent the seller, get them onboard and be willing to do the things the competition won’t do to position their home for a successful sale.

 

Guest Bio

Brian Culhane is the Co-Founder of eXp Realty. He has been one of the driving forces behind eXp's rapid growth and expansion into 45 states, 100 MLS regions and in Canada. To get in touch, email brian@exprealty.com.

How to Leverage Global Talent & Focus on Your Strengths and Passions w/Daniel Ramsey

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One of the biggest challenges we have as real estate agents and brokers is the large amount of “stuff” to do in a day. How can this hinder you from seeing any real business growth? How can leverage and scaling your business solve this problem? Should you only get an assistant when you’ve reached a certain pay point? On this episode, the founder of MyOutdesk, Daniel Ramsey, shares the power of leverage and scale.

 

We help real estate professionals take advantage of really smart individuals in other countries of the world. -Daniel Ramsey

 

Takeaways + Tactics

  • When growing a business, there’s so much to focus on that it can be overwhelming.
  • Understand your team’s strengths and weaknesses so you know where the assistance will fit in.
  • Think about what you’re taking off your plate and how what that will help you focus on high-dollar tasks. 

At the start of the show, Daniel talked about his company, and the 7-figure roadmap plan they developed for their clients. Next, we talked about how leverage can help you grow your business. We also talked about how the MyOutDesk team leverages resources to help a listing agent increase their earnings.

We also discussed:

  • The power of leveraging global talent
  • Why it’s overwhelming to be a business owner
  • How to increase your price by 30%

Thanks to advancements in technology, business owners now have access to a lot of talented professionals who can help your business in many ways. Outsourcing and delegating means you don’t have to deal with the things that drag you down, and you can put your focus on tasks and activities that really move you forward. That’s how you’ll be able to increase your earnings and push for that increase in your price point.

Guest Bio

Daniel’s years of experience in real estate contributes an invaluable amount of insight and expertise to MyOutDesk. His knowledge of the industry is a great asset when it comes to business development, sales and marketing strategies. Being a Real Estate Broker, General Contractor and Developer has proven to provide a foundation of core competencies of value from the realtor perspective, leading MyOutDesk to grow exponentially and find great success. Daniel’s passion for the Real Estate industry coupled with his love for innovative ideas are key elements in achieving his desire to dominate the enterprise https://myoutdesk.com/.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

Why Doing it Alone is the Biggest Fallacy in Real Estate w/Alex Charfen

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A lot of people in real estate are taught that they can and should do it all alone. Why is this misleading? How can you use systems to free up time and actually make you wealthier? What does it take to really grow a business? On this episode, we talk to coach and business growth specialist, Alex Charfen, who shares his journey and one thing all real estate business owners should know.

Any successful person in business that has grown an empire, has done it with the help of other people. -Alex Charfen

 

Takeaways + Tactics

  • Once you start making money, ask yourself what you can do to start making things easier for yourself.
  • If you don’t build leverage or a team, you’ll make a decent living but only for a while.
  • Determine what part of the business you love. Then build structure, processes and people around everything else.  
  • The discipline of gratitude is a huge part of recovering after a difficult time.

 

At the start of the show Alex shared how he got into real estate, the incredible story of overcoming the challenges of two hurricanes and the 2007 crash. Next, we talked about one of the biggest impediments to the growth of real estate businesses. We also discussed the issue with a great deal of real estate coaching programs out there and why you need to stop listening to them.

We also discussed:

  • How to build an organization around yourself
  • The importance of outsourcing and delegating
  • Why a real estate business can be a trap  

Real estate agents are taught that they need to do everything themselves, and that they are in a self-sufficient business. As a result, many agents are control freaks, hindering their ability to grow a business and build an empire. You can do pretty well on your own, but to get to real wealth, you can’t close yourself into a bubble of productivity. If you really want to grow the business, build an organization around yourself. Stop listening to people that put you in the loop of doing the same things over and over again.

Guest Bio

Alex is the CEO of the Charfen Institute and the author of The Entrepreneurial Personality Type as well as Momentum, set to publish in early 2018. He is a widely-known business growth specialist and coach. Go to http://www.charfen.com/ for more information.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

Using Direct Response Marketing to Target Luxury Sellers w/Dean Jackson

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For people who want to move into the luxury market, it may seem like it’s already locked up by veteran agents. How can you break into it with one simple tactic? What are buyers and sellers really looking for, and how can you easily provide it? On this episode, we talk to agent, marketing expert, coach, and podcast host, Dean Jackson who shares on the advantages of investing in direct response marketing.

If you show them that you’re the closest to them getting that check, there’s all the chance in the world that they’ll go with you. -Dean Jackson

Takeaways + Tactics

  • In every market, there’s a kind of home that’s most desirable at the top end of the market. Knowing what that is goes a long way.
  • It’s way more valuable for you to know the people that have an immediate need for your service than for a wider pool to know who they are.
  • Pick 500 homes to send postcards to, and think of it as an investment.

At the start of the show, Dean shared how he got started and how he works to help agents build lifestyle businesses. Next, he gave an overview of direct response marketing and how it works. Dean also talked about how direct response can give you a secret inventory of potential sellers and the reality of what people are really looking for.

We also discussed:

  • How agents can use systems, leverage and other people to create a great life
  • The power of targeting
  • The difference between direct response and other forms of marketing

When most people think of marketing they think of personal promotion, creating top of mind awareness and getting their name out there. Direct response is not about getting your name out to everyone. It is designed to get the people who actually need what you’re offering. Direct response allows you to be a “market maker” and it makes your marketing even more effective. No matter how good another agent’s listing presentation is, how established they are as the expert, or how good their marketing is, if you can bring a prospect closer to a transaction, you can win their business.

Guest Bio
Dean is a real estate coach, Internet marketer, founder of Go Go Agent and host of the Listing Agent Lifestyle podcast. Go to gogoagent.com to find out about his postcard service, go to listingagentlifestyle.com to learn more about the podcast, or email dean@deanjackson.com.

Proactive Outreach and Lead Generation w/ Former KW CEO, Chris Heller

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Too many agents simply tell clients what they want to hear to get the business. Why is it so important to be ethical and always provide information backed by data and analytics? How can you go about building a team instead of simply waiting for more clients? Why is it so important to know when your market tips to favor the buyer? On this episode, we talk about these questions and more with Chris Heller, former CEO of Keller Williams.

Focus on your core systems, your lead generation, your lead follow up, and getting deals done. -Chris Heller

Takeaways + Tactics

  • Bring on more people to help handle the business as you expand.
  • Don’t hire someone unless you’re prepared to train them to be successful.
  • At some price point, demand drops. You have to know what that point is.

At the start, Chris shared on the roles composing his team and the importance of behavioral and personality assessments. Next, we discussed what a lot of people get wrong when it comes to building teams, and Chris talked about the outbound prospecting his team does. Towards the end, we talked about value adds you can bring to the market.

We also discussed:

  • The value of bringing market knowledge
  • Luxury in San Diego and the state of the market
  • Why you need to inform people with real data and analytics

Most people build teams too soon because they decide to expand before they have the demand for it. Focus first on your core systems and giving the best possible service. Then bring people on as your demands increase. Learn to be smart about hiring and training because that determines the quality of your team. It’s also crucial to arm yourself with as much market data as possible, and know your market well.

Guest Bio

Chris Heller has built one of the most successful real estate teams in the United States. From his selection as Rookie of the Year in 1989, to being the top-producing agent in San Diego County and the #1 Keller Williams associate in all of North America, Chris has earned the respect of colleagues and clients for the exceptional results he delivers. Under Chris’ leadership, the Heller Team has sold thousands of homes. In fact, he has sold more than 100 homes a year, every year for the past two decades. For more than 29 years, Chris has succeeded in a highly competitive marketplace through his leadership, drive and ability to assemble and empower high-performing teams. The specialized members of the Heller Team provide unrivaled market knowledge and client service. For more information go to hellerthehomeseller.com, call 800.800.2978 or email chris@hellerthehomeseller.com.

Why True Luxury Isn’t Just About Pricing w/Jere Metcalf

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True luxury isn’t just about price. What are the other elements you should consider? How do you  avoid a listing going stale before you even list it? Why should you avoid going to market too fast? On this episode, we are joined by Jere Metcalf to discuss opportunities luxury agents should be taking, and why you need to think beyond price. 

Too many agents have the scarcity mindset, and want to get a property listed immediately when you only have one chance to make a first impression. -Michael LaFido

Takeaways + Tactics

  • A lot of people fail out of the business because they think things should be done the same way by everyone.
  • The more expensive and the more unique a listings is, the more you really need to market it that way.
  • Don’t go to market too fast. Take your time and get all the elements of the listing right.

At the start of the show, we talked about Jere’s team and podcast, and how she has been able to attract talent into her world. Next, we talked about the Atlanta market and how this year’s luxury trends compare to previous years. We also discussed how to directly and indirectly market to homeowners, and increase the probability of selling a listing.  

We also discussed:

  • Why you shouldn’t go to market too fast
  • Creating the experience that makes someone want to buy the house
  • Why you need to know your numbers

You aren’t just a representation of your company. You’re a representation of your seller as well, and that’s something you should think about before you list a property. Take your time and avoid going to market too fast. It’s about getting in front of the right buyer so they can see that this is the house for them. Know your numbers in your local marketplace, and be aware of what everyone is doing. Try to differentiate yourself, and be thoughtful about your strategy. 

Guest Bio
Jere Metcalf is a leading Atlanta real estate broker who offers unparalleled access, creative marketing concepts and broad market knowledge to her luxury residential client-base.  Jere is consistently a top agent for Atlanta Fine Homes Sotheby’s International Realty, named “Top 3 Company Wide” in 2016. Amongst her various awards received, Jere has also been named “Best Real Estate Agent” in Atlanta. Go to http://jeremetcalfteam.com/ for more information or find her podcast on iTunes.

Working with Chinese Buyers w/Michi Olson

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Working with international homebuyers is a great opportunity in real estate right now. What is attracting Chinese buyers to the US market? What are some of the cultural differences you should be aware of? How is foreign investment affecting the San Francisco Bay area? On this episode, we talk with Michi Olson, the Vice President of Business Development and Relocation at Alain Pinel Realtors.

The most important thing is for you to be able to respect and understand the culture-- more important than being able to speak the language. -Michi Olson

Takeaways + Tactics

  • The top 5 countries that are purchasing in the US are China, Canada, India, Mexico and England. China is spending the most.
  • Clean air, lifestyle, weather and education for their children is a major draw for Chinese buyers in San Francisco.
  • For closing gifts: Avoid  clocks, knives, mirrors and the number 4. Give gifts with the numbers 6 and 8, which represent luck and prosperity.

At the start of the show, Michi shared how she got into working with Chinese buyers, and what factors draw Chinese investors to the US. Next, we talked about how much money international investors are spending in the US market and how low inventory is creating a bidding frenzy in the Bay Area market.  

We also discussed:

  • Why Chinese investors park their money in the US
  • Items to avoid as gifts for a Chinese buyer
  • How to ask for proof of funds without offending a foreign investor

Of the $102 billion spent in the US real estate market by foreigners in 2016, $27 billion was spent by the Chinese. This year they spent $37 billion. This shows how much of an opportunity there is in this market. You don’t have to speak the language to work with international buyers, as long as you respect their culture. Knowing the “do’s and don’ts” can allow you to serve international investors exceptionally.

Guest Bio

Michi Olson, SGMS, is Vice President of Business Development and Relocation and serves as Alain Pinel Realtors' primary point-of-contact for company-wide relocation services, including its affiliation with The Leading Real Estate Companies of the World (LeadingRE), the world’s largest referral network for independent real estate services companies that formerly operated as RELO. In this role, she manages the brokerage's corporate relocation network and assists thousands of families annually when they move from one state to another for work purposes, or increasingly, to global destinations in job-related moves. Go to https://www.apr.com/ for more information, email relo@apr.com or call 800.4445.1111

Creating Urgency In a Stagnant Buyer’s Market w/Marti Hampton

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At certain price points, all markets start to favor buyers. How do you get people to take action quickly, instead of waiting for a price drop? When a house has been on the market for too long, what problems does this create? How do you reinvent a listing that has gone stale? On this episode, we are joined by team owner and luxury specialist, Marti Hampton, who shares the strategies that generate interest and excitement for listings.

Everyday that your house is on the market, you lose ability to negotiate and you have a lesser position. -Marti Hampton

Takeaways + Tactics

  • Your database is really your true selling feature as an agent.
  • For every 500 online views you should have 10 people that came through the home.
  • Having many showings and no offers is a worse position than having a few showings.

At the start, Marti gave us a bit of her background, and why it’s so important to get buyers interested in a home immediately. Next, we talked about Marti’s other business Coming Soon Homes, and why more days on market can weaken your position. Towards the end of the show, we discussed how to revive a stale listing.

Marti also shared on:

  • Creating excitement around a listing with marketing
  • How to reinvent the market you’re going after
  • How many showings your online views should be generating

The less time a property has spent on the market, the more urgency there will be around it, and the more leverage the agent has. Every day a house sits on the market reduces your effectiveness to negotiate, weakening your position. It’s critical to create excitement and desire for your properties.Once your property becomes stale, savvy buyers will have a much stronger position, which will impact the list price. Remember: you can’t fool the buyer. They often know a lot more about the market than you might think.

Guest Bio
Marti Hampton heads the top REMAX team in the Carolina’s. She’s also the founder of Coming Soon Homes. She has been in a real estate agent since the 1980s, and she is passionate about her profession, striving to improve with each day. Marti has served Raleigh, Cary, and the Triangle region for over 25 years now. She is proud to sell more previously-owned homes than anyone in the Triangle. In 2012, she was ranked the top real estate agent in the nation and is proud to be the highest producing sales agent on the East Coast for Re/Max. Go to https://www.martihampton.com/ for more information or email marti@martihampton.com to get in touch.