Luxury Listing Specialist - Dominate High End Listings In Any Market

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How to Raise the Client Service Bar & Protect Our Industry from Disruptors, Discounters and Doubters w/Joseph Rand

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The luxury real estate industry is facing a lot of challenges from people trying to change the business model. What do we need to improve in order to get our value back? How do we raise the bar for how we handle our clients? On this episode Joseph Rand, the managing partner of Better Homes and Gardens Rand Realty, shares on his book and what will protect our business from disruptors and discounters. 

 

 

If we focus more on the client experience, we can stave off the disruptive elements that are trying to change the game. -Joseph Rand

 

Takeaways + Tactics

  • We need to stop focusing so much on lead generation and start prioritizing the client experience.

  • Price point is a process of discovery between you and your seller, not something you just dictate to them.

  • We should be marketing all homes the way the average agent markets a luxury home, and we should be marketing luxury homes at a higher level than that.

      

At the start of the show, Joseph talked about his background and how he got started. He also talked about his book Disruptors, Discounters and Doubters. We also covered the importance of making sure we don’t put all our innovating energy towards lead generation and start focusing on the client experience.

We also discussed:

  • Why the best way to create business is raising fans
  • The importance of investing in marketing
  • The difference between listing a home and marketing it

 

The truth is, we have not done a good enough job of raising our game and improving our client transaction experience. This makes it easy for challengers to try to edge us out. We have to teach agents to do the work, and this starts with treating our clients well. The client experience is all about putting their needs first and giving them information that actually helps them sell.

 

Guest Bio
Joseph Rand is the Managing Partner of Better Homes and Gardens Rand Realty, one of the largest family-owned real estate brokerages in the country. Go to randrealty.com or find his book Disruptors, Discounters & Doubters on Amazon. 

The Secrets of Mastery & Marketing in Luxury w/Josh Smith

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A lot of agents are operating like amateurs, and it shows in the results they are getting. How do you level up and become a pro in this business? How can you use Facebook marketing to get quality leads? How do find out who your target avatar is? On this episode, entrepreneur and host of the GSD Mode podcast, Josh Smith, talks about the component of success so many agents miss.

 

Generalists make a living. Luxury Specialists get wealthy. -Michael LaFido

 

Takeaways + Tactics

  • If you do open houses the same way as everyone else, you won’t succeed. Pre-marketing the property to create demand and attention is very important.
  • When you jump into the unknown without taking the time to educate yourself, you can get taken advantage of by the people you outsource. Know enough so you can spot the red flags.
  • Create Facebook ads so specific that you can eliminate people who would not be interested.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

At the start of the show, Josh shared how he got started in real estate and what inspired his podcast, GSD Mode. Next we talked about why real estate will always be a people-based industry, even with the rise of tech. We also covered the importance of being a specialist.

 

We also discussed:

  • Why it’s important to focus on what you can control
  • How to strategically set up your open houses to get more results
  • Lead ads and retargeting

There’s a huge difference between the people who achieve massive success and the people who just talk about it. The latter obsess over the things money buys them, and the former obsess over the processes that lead to success. The money follows their actions. With whatever marketing tactic or business strategy you’re using, divide and conquer. Go deep, peel back the onion, and master what you’re doing. This is how you create massive success.

 

Guest Bio

Joshua Smith is a Realtor and serial entrepreneur based in Phoenix, AZ. Joshua is one of the top Realtors in the world while running many other successful companies. Go to http://www.gsdmode.com/ for more information.

Building Credibility & Developing Your Exit Strategy w/Sharran Srivatsaa

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If you’re a business owner, team owner, or top producing agent, an exit strategy is very important. How will you know who the right buyer is? When it comes to building trust in luxury, what is one thing you can do to create value? Is it the buyers or sellers that determine the velocity of the luxury market? On this episode, serial entrepreneur and sought-after keynote speaker Sharran Srivatsaa shares great insights on these topics.

The clients are looking to be led, and our ability to structure that advice with confidence is where clients gravitate to the agent. -Sharran Srivatsaa

 

Takeaways + Tactics

  • The job market and the stock market have been good for the average person, making them feel like they can spend more. This has driven the growth, purchases, and velocity of the market.
  • The luxury market is based around the ability of a buyer to actually buy. As a result, it’s not the sellers, but the buyers that set the tone for the luxury market.
  • With luxury price points, properties won’t always sell quickly. This is where your communication skills come into play, because you have to give feedback and keep the seller confident.
  • If you’re considering your exit strategy think of who the buyer would be and why they would care about your business.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

  

At the start of the show, Sharran talked about how the 5am Club got started and what his podcast, Million Dollar Playbook is all about. Sharran also shared on the trends he’s seen in luxury and why it is so critical for agents to show their knowledge of the market and present that knowledge with confidence.

We also shared insights on:

  • How to develop your exit strategy
  • The connection between knowledge and confidence
  • Different models of exit strategies

 

The most powerful thing you can do is establish credibility. Once you do that, everything you say and do afterwards becomes a lot easier. The client will trust you more and feel like their home is in good hands. At the end of the day, bragging about your track record to the client is irrelevant. It's establishing trust through your action that matters. When it comes to a good exit strategy, there are many ways to go about it. The key is knowing the value you bring to the table. From there it’s about finding the model that best suits both parties, of which there are a few to choose from. Just because our business is based on commissions and transactions, don’t forget that you’ve built years of goodwill, systems and knowledge-- and there’s a market for that.

 

Guest Bio

Sharran Srivatsaa is the CEO of Kingston Lane, a push-button technology execution platform for real estate. Sharran is a serial entrepreneur, sought-after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post and Forbes.

Sign up for a FREE Kingston Lane account on us, and use the tools to leverage and grow your business: www.kingstonlane.com 

Why Local Community Involvement Is the Best Type of Branding w/ Katherine Bordelon

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We all strive to show our prospects that we are different, that we care about their needs, and that we’re not just after the listing. How do we actually prove this? Are you getting involved in your community? Do people know you as a trustworthy and caring person? In this episode, Katherine Bordelon shares her strategy of reaching people’s hearts.

 

"We are a service-minded culture, so we really strive to form collaborative partnerships in support of each other and our community." -Katherine Bordelon

 

Takeaways + Tactics

  • Help others, but don’t expect anything back. Getting more business or being recognized as trustworthy is just one of the many “side effects” of helping others.
  • The best way to market yourself is to get to know people. Show them you care about their issues and want to be involved in solving them.
  • Giving back doesn’t always mean giving money. It could be a free service or even your time. There are many ways to help people without making monetary donations.
  • When you help others get where they want to be, they often want to return the favor. That doesn’t always mean you will end up working with them, but they might refer you to some of their friends or family members.
     

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

At the beginning of the episode, we talked about the importance of education and how it can help a community grow. We also looked at her three key business principles; the power of individual liberty, the American dream of owning a home, and being free to be who you are.

We also shared insights on:

  • The importance of being involved in your community
  • Why volunteering is the best type of branding

The real estate industry is a business focused on helping people make big decisions—in many cases, the biggest financial decision of their life. Unfortunately, many agents see themselves as car salesmen. As a real estate agent, you can choose a different path by helping others grow and giving your time and skills to those in need. Some agents try so hard to prove to their prospects that they are different, yet there is nothing behind them supporting that claim. If you act as a good citizen and identify the needs of your community, you will never have to convince anyone of your integrity.

 

Guest Bio:

Katherine Bordelon is an award-winning real estate broker with nearly 15 years of success in residential real estate where she specializes in creating a luxury caliber customer experience. The Dallas, Texas native has worked in real estate since 2006 focusing on clear core values or “guiding principles” in a highly competitive industry. Bordelon is the broker/owner of Castle & Cottage Realty, and the only Central Florida broker to earn Christie’s International Real Estate Top Agent Award (2015), has been recognized as one of Christie’s Top 120 agents worldwide.

Why Improved Customer Experience Is the Next Industry Disruptor w/Nick Bailey, CEO of Century 21

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Understanding the people we work with changes the customer experience for the better. How should you communicate with your customers? How do you improve their experience? How can you match the buyer with the perfect house? On this episode, Century 21 CEO, Nick Bailey shares his insights on making real estate a pleasant experience for both the agent and the customer.

 

We have to be ready to communicate with them in the manner that they want to, because if we don’t they will find someone that will. -Nick Bailey

 

Takeaways + Tactics

  • Consumers are more likely to demand an instant gratification experience from companies in all industries, including real estate.
  • The next industry disruptor is not technology itself, but how technology can help us provide an anxiety-free consumer experience.
  • Real estate is a supply and demand business, and smart home technology is definitely an increasing trend. Most buyers prefer homes with this type of technology.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

On this episode, we shared insights on the attitude agents should adopt when it comes to improving the customer experience and what will remain unchanged in the real estate industry no matter technological changes.

We also shared insights on:

  • How real estate will always remain a people-based business
  • How to communicate in the way your clients want you to communicate
  • The new open house experience in the light of new technology

The most important aspect of selling luxury homes is knowing the seller. Do they have a family? Are they single? How does migration happen? All these aspects make the transaction process smoother and more anxiety-free for both the agent and the buyer, simply because they are both on the same wavelength. Preparing a home for buyers is also an important element of the transaction. Many homeowners leave their own footprint on the furnishings of the house, which makes buyers feel it isn’t their home. Tech is a great solution for these concerns and it will continue to change how we do business.

 

Guest Bio

Nick Bailey is the President and CEO at Century 21 and an expert in highly competitive markets and marketing campaigns. At only 28 years old, he became the a RE/MAX World Headquarters VP. Since then, he has taken the real estate industry by storm, being vice president 3 times and ultimately becoming the CEO at Century 21.

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