Luxury Listing Specialist - Dominate High End Listings In Any Market

Luxury Listing Specialist - Dominate High End Listings In Any Market header image 1

How Technology Can Assist an Agent in Selling High-End Real Estate w/ Robert Reffkin

00:0000:00

The average agent has 13 different online logins, and spends 89% of their time on admin and trivial tasks. What are companies missing when trying to serve the needs of agents? Why is culture such an important part of building a successful business? What are the high-level strategies for luxury listings? On this episode, we are joined by Robert Reffkin, the CEO of the growing real estate tech startup, Compass.

As important as technology and great marketing are, I can’t stress enough the importance of culture and community. -Robert Reffkin

Takeaways + Tactics

  • There are 270 software providers building tools for agents, but they are small and fragmented. Meanwhile, the big companies aren’t asking agents what they want.
  • Brokers don’t have enough resources to build technology in-house for agents.
  • No automated valuation tool can beat the agent.
  • The average agent who is with Compass grew their business by 25% last year.

At the start of the show, Robert shared how he got started and what inspired the creation of Compass. He also shared on the existing real estate tech space, and how much time agents waste on meaningless tasks. Robert also shared his team breakdown and why he brought together people who don’t come from the real estate world. He also shared on the importance of being selective in hiring, “every great institution in the world is selective, real estate needs to be more selective.” We also discussed what people look for in real estate agents, “they want someone they can proudly sit next to, someone collaborative, experienced, likable and fully committed.  

Robert also discussed:

  • His 80-person marketing team
  • The importance of culture and community
  • How to use technology for pricing
  • Why luxury listings need to be treated in a unique way
  • Why Compass gives agents the tools to make their lives easier

Real estate agents are the largest underserved customer base in the country. There just hasn’t been the investment of people and money to make the industry what it could be. There are over a million agents in the US generating a combined $5 billion in commissions every year, but they just don’t have any great companies asking them what they want. Until an agent has one login, they are going to be held back from growing their business in a meaningful way. Agents need to be focused on their clients, not admin. Applying technology to these issues will bring help to bring the industry forward.

Guest Bio

Robert Reffkin is the CEO of Urban Compass, a tech-driven New York City real estate firm. Prior to Compass, Robert worked at Goldman Sachs as Chief of Staff to the President & COO following five years working in the firm's private equity arm. Prior to Goldman Sachs, he worked at Lazard and McKinsey & Company. In 2005, he was appointed as a White House Fellow to serve as special assistant to the Secretary of the Treasury. Robert is also the Founder of New York Needs You. He received a B.A. and M.B.A. from Columbia University. Outside of work, he recently completed 50 marathons, one in each state, to raise $1 million for nonprofits. Go to https://www.compass.com/ for more info or email robert.reffkin@compass.com.

Become a Certified Luxury Listing Specialist and learn how to break in and dominate high end homes in your market. Learn more about the LUXE Luxury Listing Specialist Certification at luxurylistingspecialist.com.

How to Differentiate Yourself in Luxury Real Estate w/David Banks

00:0000:00

Positioning a home to appeal to the majority of the market will bring you closer to a sale. What activities are crucial to making a home attract more online and offline interest? What does it take to break into a market with an elevated price point? On this episode, we are joined by real estate veteran and owner of RE/MAX By the Bay, David Banks who shares on his winning strategies.

Moving into an area that you want to work in is important. You’ll network with everyone that you want to represent in the future.

- David Banks

Takeaways + Tactics

  • At a certain price point, a shift occurs from a seller’s market to a buyer’s market.
  • New photos increase online activity, which will increase the probability of a showing, which will increase the probability of a fair offer.
  • Lead with a giving hand by adding charitable donations to your operations.

At the start of the show, we learned about David’s beginnings in real estate, and he provided information on the luxury listings market in the Portland area. Next, we talked about how he was able to shift into elevated price points by moving to the area in which he wanted to sell. He also shared how charitable donations are built into his business operations. Towards the end of the show we talked about the importance of using your skills to increase interest in a property.

David also spoke about:

  • His hardcover presentation book and why it’s so effective
  • How to increase the probability of a fair offer
  • The importance of staging and repositioning a home

It’s impossible to force a buyer into a home, but it is our job to use the tools in our arsenal to reposition the home effectively to drum up interest that will lead to offers. There are many strategies to do this, including high-quality presentation books, staging the home, and investing in really good photos and videos of the home. These things will directly impact how quickly the home will sell.

Guest Bio
David opened RE/MAX By The Bay in 1994, with the goal of building an agency capable of providing an unsurpassed client experience. RE/MAX By The Bay quickly became home to the highest producing agents in the States of Maine and New Hampshire. David’s team has become known throughout the nation as a top-producing team, consistently ranking among the elite teams across all of RE/MAX. Go to http://www.davidbanksteam.com/about for more information.

The Most Important Skill You Need in Luxury Real Estate w/Sean Conlon

00:0000:00

In luxury real estate, it only takes getting that first client to get things going. How do you keep your antennae up for these opportunities, and what is the most important skill you’ll need? What are the larger global trends taking place in luxury real estate?On this episode, we discuss this with real estate entrepreneur, merchant banker, and host of CNBC's The Deed, Sean Conlon.

Great sales, particularly at a luxury level, is listening. -Sean Conlon

Takeaways + Tactics

  • Luxury real estate is a great preservation of capital in the long run.
  • A natural curiosity is the key to being a really good broker.
  • For new developments: approach developers about the kind of land they want.

At the start of the show, Sean shared what helped him succeed and how he was able to grow with his clients. Next, we discussed the power of having a natural curiosity and why it’s so important to be a good listener. We discussed why luxury real estate is such a great way to preserve wealth. Towards the end of the show, we discussed the power of knowing about an area, and a strategy for getting into new developments.

We also shared on:

  • How to sell people on "you"
  • Market trends and the effect of politics
  • Advice for someone just getting into real estate

Look at your listing portfolio like your financial portfolio, and diversify it by mixing in luxury listings. Learn to take the opportunities as they come, and work on getting that first luxury listing. If you treat every deal like it’s coming from the most important client in the world, you’ll create referral opportunities and start generating more listings. The key skill you need is good listening. Learn as much as you can about specific areas so you can always be in the know.

Guest Bio
Sean J. Conlon is an American businessman, real estate entrepreneur, investor, television personality and philanthropist. He is currently the chairman and founder of Conlon & Co, CONLON/Christie’s International Real Estate, CONLON Commercial and Conlon Capital. He is also currently the co-host of The Deed which is an unscripted television series focused on real estate investing on CNBC. Go to seanconlon.com for more info.

Expert Strategies for Jumping to the Next Price Point w/Bob Hurwitz

00:0000:00

Too many agents are acting as order-takers instead of advisors. Why is it so important to be assertive? How do you break into the high-end listings consistently? What are some opportunities these properties create? On this episode, Bob Hurwitz, broker, CEO and founder of Hurwitz James Company shares his strategies for breaking into high-end listings.

It’s important to differentiate yourself, especially when you’re competing with agents who have already made inroads into the high-end market. -Bob Hurwitz

Takeaways + Tactics

  • Most properties fail to sell in their first iteration, which presents an opportunity for smart agents.
  • Use marketing to create a sense of urgency.
  • If you market properties in an intelligent way you’re going to get buyers coming to you directly.

The difference between a home selling and a home languishing on the market is heavily reliant on the skill of the agent. It’s important to market and communicate well, and differentiate yourself from the pack. The secret with luxury and high-end listings is that “first doesn’t always mean best”. When properties don’t sell in their first iteration, that’s the time for you to step in and make it sell. Have the guts to step into the batter’s box!

Guest Bio

Bob has been a real estate broker and consultant for over 25 years, and he is the founder & CEO of Hurwitz James Company, established in 1986 and specializing in the marketing and sale of multi-million dollar estates and luxury residential developments worldwide. He is regularly featured on Extra, NBC Open House, Mansions and Millionaires and HGTV’s Million Dollar Room, as a top Realtor in Los Angeles dealing with high-profile properties and clients. Go to http://www.hurwitzjamesco.com/agents/ or https://www.linkedin.com/in/bob-hurwitz-9197486/. To get in touch, call or email 310-477-8865 bob@thehjc.com.

The Power of Confidence and Preparation in Winning Luxury Listings w/Craig Hogan

00:0000:00

Luxury clients are looking for an agent who can go the extra mile. What characteristics will make you stand out to get that client? How do you make sure you’re putting your best foot forward? Why is coaching so important? On this episode, Coldwell Banker Vice President Craig Hogan, shares his best advice and strategies for winning luxury listings.

 Coming in as a trusted advisor with confidence but no ego makes you a far better pick than someone who comes in like a bull in a china closet. -Craig Hogan

Takeaways + Tactics

  • If you can’t do a presentation in front of a lot of people and argue for your commission, you need to shift gears towards that.
  • If you can’t tell the difference between a 300k and a 100k kitchen, then you probably have a problem.
  • A lot of the job is preparing for show time.

At the start of the show, we talked about Craig’s background and the importance of differentiating yourself when it comes to marketing your luxury listings. Next, we talked about the importance of getting your skills up to scratch, and the importance of being knowledgeable when it comes to condition, appearance and finish. Towards the end of the show, we talked about the importance of being a trusted advisor.

Craig also shared on:

  • The importance of coaching and skill set
  • Why you need to focus on focus on being better
  • The power of humility

The luxury client is expecting to see someone who is at the top of their game. They are expecting to see a polished, professional who within minutes they feel like they want to list with. All this comes from confidence and preparation, and always being ready for show time. That comes from confidence and preparation. The more we produce and the higher we get in real estate staying humble and real is an attractive quality.

Guest Bio
Craig is the Vice President of Luxury at Coldwell Banker Real Estate LLC. Go to https://www.coldwellbanker.com/ for more information.

Become a Certified Luxury Listing Specialist and learn how to break in and dominate high end homes in your market. Learn more about the LUXE Luxury Listing Specialist Certification at luxurylistingspecialist.com.

Creative Financing in Luxury Real Estate w/Frank Aazami

00:0000:00

High end and luxury markets are usually buyer’s markets, so tactics like creative financing come in handy. How can you use the power of creative owner financing to help your clients? How can asset management play a valuable role in luxury real estate, and how do you make sure you’re an asset to your clients? On this episode, luxury agent Frank Aazami shares his keys to success.

Once you become an expense and not an asset for a client, you’re worthless. -Frank Aazami

Takeaways + Tactics

  • Auctions bring attention and momentum to a property. All sales are based on momentum.
  • Build your expertise in creative financing - instead of the bank being the lender, the seller is the lender.
  • Find your leading edge - a unique way you bring value to your clients.

At the start of the show, Frank shared how his company marries deals and leverages other assets his clients have. He also explained his creative marketing methods and how the seller can become the lender. Next, we talked about elevating your game and getting more market share.

Frank also shared on:

  • How to create urgency in a buyer’s market
  • Momentum and real estate
  • Creative financing in upper level high end homes

The hardest thing is to get up in the morning, dress up like a professional, know what you’re doing, know the inventory and connect with people that are agents in other markets. What truly makes a different is giving yourself a leading edge. Luxury markets usually have a high amount of inventory, so creative financing is one way to give homes more appeal. This can elevate your game and get you more market share.

Guest Bio

Frank Aazami, along with his distinguished entrepreneurship Private Client Group, has proven the ability to plan, negotiate and manage clients' Real Estate invested assets.  Frank's background includes marketing a Top 40 Radio Station, developing a successful fast food franchise concept, owning a handful of retail stores and selling over 20 franchisees. He invested, developed and managed a portfolio of mix-use and multifamily holdings for close to 10 years before practicing as a Realtor at Russ Lyon Sotheby's International Realty. To get in touch, call 480-266-0240 or frank@pcgagents.com.

Become a Certified Luxury Listing Specialist and learn how to break in and dominate high end homes in your market. Learn more about the LUXE Luxury Listing Specialist Certification at luxurylistingspecialist.com.

How to Use Charitable Events and Strategic Giving to Grow Your Network w/Anthony Marguleas

00:0000:00

Most people don’t care how much you know until they know how much you care. What is strategic giving? How do you put “giving” at the center of your business activities? Why is philanthropy so important in real estate? On this episode, we are joined by founder of Amalfi Estates, Anthony Marguleas, who shares his insights on philanthropy in business.

We brand ourselves as a philanthropic business that happens to sell real estate. -Anthony Marguleas

Takeaways + Tactics

  • Give all your properties the same marketing push to make sure your branding is consistent.
  • Don’t have a scarcity mindset; it’s good to share what you know.
  • Letting clients choose the charity serves to deepen the relationship.

At the start of the show, Anthony shared on his team and their giving philosophy. We then talked about the charities he contributes to and how his parents inspires his philanthropy. Towards the end of the show we talked about the power of sharing resources with other agents.

Anthony also talked about:

  • Leading with a giving hand
  • Letting go of the scarcity mindset
  • VR and other trends in the luxury market

When it comes to business operations, a lot of people underestimate the power of weaving philanthropy into everything you do. It’s all about creating a culture that both your employees and your clients can be passionate about. Agents have a big responsibility to touch people’s lives, and when they lead with a giving hand, they are able to make an even bigger impact. Lead with philanthropy, and practice what you preach!

Guest Bio


Anthony Marguleas is the owner of Amalfi Estates, one of Los Angeles’ leading independent real estate companies, providing exclusive representation to both buyers and sellers. Founded in 1995, the company is headquartered in Pacific Palisades. Marguleas is a true entrepreneur whose success comes through perseverance, hard work, and an unshakeable belief in the right of his clients to be well informed. He ensures that they receive the best possible information. His service is founded on the question, "Is it in my client's best interest?” Go to http://amalfiestates.com/ for more information!

Making the Most of Your Luxury Listing w/Leigh (Canlis) Greenwood

00:0000:00

Many agents feel it's nearly impossible to break into the world of luxury real estate. How do you change your mindset to be geared towards success? Location is always everything - but is your location really as inflexible as you might think? And what's the value of adding a personal touch and knowing both your client and your listing? These and many other questions are answered in this great interview with the Luxury Division VP of Windermere Services, Leigh (Canlis) Greenwood.

Being impressive means setting yourself apart from all your other competitors. - Leigh (Canlis) Greenwood

Takeaways & Tactics

  • Set yourself apart from the competition and work on your brand - make sure it reflects your message.
  • You have to be a part of a community to successfully market it, so make sure to engage with the area your listings are in.  
  • Know your client and your property and personalize your approach to foster that connection.

To start off, Leigh gave us a bit of background on Windermere Services and its culture and mindset. We then talked about the importance of branding yourself correctly and putting yourself out there in good time. Leigh then shared some tips on what the best ways are to get involved with the community that you're looking to market. Leigh also told us about W by Windermere, a dedicated space for agents solely interested in luxury property.

We also shared insights on:

  • The importance of having a passion for what you do
  • Why the best listings are a result of an agent stepping out of their comfort zone
  • The balance between showing personality and preparing great printed material
  • How a personalized touch can secure you that luxury sale.

Luxury real estate is a highly specific niche that requires a lot of confidence and hard work to break into. The sky's the limit - where you live, what car you drive or how much money you have doesn't ultimately make a difference, as long as you can market that property the best you can. As an agent, you need to engage with the community you're looking to sell to. Working with luxury properties requires fostering your creativity and individuality. It pays off with amazing results.

Guest Bio

Leigh (Canlis) Greenwood is vice president of the new luxury division of Windermere, the largest real estate company in the Pacific Northwest. Go to https://www.windermere.com/ for more information.

Authentic Video & Luxury Marketing w/Ben Bacal, Listing Agent for America’s Most Expensive Home

00:0000:00

Most potential buyers want to consume community content before they buy a property. How can you use video to bring value through community content? How can you create video without using too many resources? What’s the role of hunger in your journey to success? On this show, we are joined by Los Angeles luxury agent Ben Bacal, who recently listed the most expensive home in America, to share his strategies for marketing luxury homes though authentic video.

This business is all about sharing, it’s not about winning. -Ben Bacal

Takeaways + Tactics  

  • 73% of home sellers are more likely to list with an agent who offers to market their property with video.
  • There’s a difference between being an agent and being a tour guide.
  • The people you want to align yourself with in this business are other brokers.

At the start of the show, Ben shared how he got started and how he bounced back from the bad times in his career. Next, we talked about why you want to set yourself apart by bringing value to your clients. Ben also spoke about the importance of giving people video content based on the community and neighborhood.

Ben also spoke about:

  • The importance of sharing
  • Why you need to be an authority figure
  • The importance of aligning yourself with brokers

 If you’re not taking risks and getting out of your comfort zone, you won’t be able to bring value, position yourself as a leading authority and attract the business you want. If you’re not shooting video content, you’re not really relevant and people won’t know who you are. Remember, you’re not going to generate business by sitting in your office all day.

Guest Bio

Ben Bacal has become a clear leader in Southern California’s luxury real estate business. Selling over a billion dollars in residential real estate, he has carved his niche and driven prices in the most prominent neighborhoods in Los Angeles. Building his real estate empire from the ground up, Ben was recently ranked #9 in the nation by The Wall Street Journal for individual sales volume. Go to http://www.benbacal.com/ or email benbacal@gmail.com.

Building LA’s #1 Team & Delivering The Ritz-Carlton Experience w/Justin Alexander

00:0000:00

How can agents give a VIP service in the luxury market? How can a team set itself up to give this service consistently and across all clients? What is the process of getting a home showcase-ready? On this episode, Justin Alexander shares his expertise on creating a great experience for clients and how communication and systems play into this.

To get a house to show with that extra wow factor, it takes time, effort, energy and sometimes it takes some money. -Justin Alexander

Takeaways + Tactics

  • Agents are hand-fed all their listings/buyers, they just have to cultivate the relationship.
  • Agents do not have to generate any leads, the team has a 52% referral rate.
  • Staging is important: 90% of buyers see the home only as it is presented.

At the start of the show Justin shared how he got into real estate, and how his team is structured. He shared why they employ listing managers/assistants, and what it takes for a home to have the wow factor. We also talked about the importance of staging and when Justin’s market becomes a buyer’s market.

Justin also spoke about

  • How they get homes showcase-ready
  • What happens after the home is sold
  • The importance of consistency

The concierge-level service that Hilton-Pardee offers, means there’s no handoff to a TC. Agents are given support by listing managers who help make the process more seamless, and uphold the VIP experience. Positioning the home in its most positive light is one of the most important parts of the service, and that means putting in the effort and resources to make this possible for clients without putting the extra burden of executing on them. Having a team of high-end professionals has a huge impact.

Guest Bio

Justin is the Director of Sales for Hilton Pardee. He works hand-in-hand with Founder and CEO, oversees and manages 5 Listing agents, 20 buyer agents (specialized), also acts as Listing Agent for VIP sellers. He has 14+ years of experience in sales and residential mortgage banking, managed and executed over $1Billion in sales in the last 4 years. Justin is also a former Mortgage Banker for Fortune 500 lenders, originating and executing over $75 million in residential finance. Go to http://haltonpardee.com/team/justin-alexander/ for more information about Justin.