Luxury Listing Specialist - Dominate High End Listings In Any Market

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Wade Hanson Interview - What Makes for a Successful Agent

Being an agent in the luxury market is hard work. Not only are you dealing with some seriously discerning clients, but you also have huge commissions on the line, so impressing them and bringing your A-game is key. 

This week, Wade Hanson, #1 estate broker in Minnesota and Western Wisconsin, shares his story behind his successful Remax Results agency. Wade has taken the Luxury Listing Specialist Designation course and is a certified LUXE Agent. 

Wade and I also share insights on what defines luxury, as well as strategies to breaking into the luxury market. Be sure to listen all the way through to hear some actionable advice for all agents.    

To get in touch with Wade, visit his website at www.wadehanson.com

You can't fool savvy consumers. You've got to have a strong set of core values and a high level of integrity. The client has to know that their needs are always going to come first.”  -Wade Hanson

 

Three Things You'll Learn In This Episode

✔ Traits of a successful luxury agent:
  Top luxury agents have strong core values and high integrity. Whether the listing is for 200k or a million, they treat every client the same.

✔ Facts, not emotions:
  Wade’s success and longevity stems from the philosophy that it’s best to remove the emotion out of the transaction, don’t sugarcoat. Stick to the facts and always do what’s best for the client.

✔ Make connections on social media: 
  Making your presence known on social media and getting your service in front of the right eyes will remind people what do you and will help with getting referrals. 

Guest Bio:

Since 1999, Wade Hanson has been creating results for clients as a real estate professional and broker. His reputation for his success mindset and dedicated effort as a high performer led him to be named among Realtor® magazine’s Top 30 Realtors Under the Age of 30 in 2005, recognized for having built a $60M multi-office real estate firm. A luxury market specialist, Wade has extensive expertise in marketing and selling upper-tier properties. He a top real estate Broker in Minnesota and Western Wisconsin serving clients from his Remax® Results office in Woodbury, Minnesota.

 

Luxury Auctions

Have you heard of a no-reserve auction? Today I’m sharing a bit about what that is with an example of one of our current ones. Unique, high-end properties with a seller motivated by time rather than money are great candidates for a luxury auction. In this example, our client’s home is being marketed at $3.5 million. Listen to learn more. 

The Skill of Negotiation - How to Win Buyers and Influence Sales w/Tom Hayman

Save The Date!  Our next live virtual online Luxury Designation Training will be on March 17th.

All the details can be found at:  www.LuxuryDesignation.com

One of the most important qualifications of a real estate agent is their ability to negotiate effectively. What makes an agent a skillful negotiator is understanding the negotiating process and being able to navigate through the multiple issues that a real estate transaction entails. It’s the number one skill clients look for. And it's not just a business skill, it's a life skill.

If you want to become a better negotiator, this episode is for you. I have some great discussions with the founder of The Certified Negotiation Expert (CNE) and founder of The Real Estate Negotiation Institute (The RENI), Tom Hayman.

He has over 15 years of experience as an agent and negotiation trainer. He’s got some practical strategies on how to handle real estate negotiations that will help you close the deal.

To find out more about becoming a CNE, visit https://www.thereni.com 

Having excellent negotiating skills is vital. And it’s one of those skills that doesn't always show up in your bio or listing book. You need to be able to differentiate yourself from the competition.”  -Michael LaFido


Three Things You’ll Learn in This Episode


The Influence of Culture on Negotiation: 

Different cultures negotiate differently. The one common aspect all cultures have is that they’re relationship-based. To negotiate effectively, you need to cultivate that relationship and show your client that you care about them and their culture.

The Exchange Persuasion Principle: 

The Exchange Persuasion Principle states that if I do something for you, then you are likely to feel an obligation to do something for me. An example of this would be when signing on a new listing client, you might accept a lower listing fee if they commit to a performance bonus when you deliver stellar results. 

3 Skills for Agent Success: 

The top 3 skills agents should focus on that will get the best return for their business are marketing, marketing analysis, and negotiation. You need marketing and marketing analysis skills to effectively present a home, and the way you negotiate is vital because if you do a poor job, you leave money on the table for your client and yourself.

 

Guest Bio: 

Tom Hayman spent 25 years negotiating with hundreds of companies for Proctor and Gamble (including 4 years in Japan and the Far East). He went into real estate in 2003 and has over 15 years as an active agent and negotiation trainer. In 2007, he founded Real Estate Negotiation Institute. He enjoys studying the latest research on persuasion and figuring out how it applies to real estate (and life) and passing it on to his students. 

You can get in touch with Tom through The Real Estate Negotiation Institute website at https://www.thereni.com/

 

Additional Resources:

Max Avenue website - https://www.maxavenue.com/

The Speed of Trust by Stephen M. R. Covey 
https://www.amazon.com/SPEED-Trust-Thing-Changes-Everything-ebook/dp/B000MGATWG

List Segmentation

Not all contacts in your database are created equal. Certain clients and contacts require more touches, and others require less. That’s why it’s so important to segment your list. I use the “A, B, C” method that prioritizes my best clients. Listen now to learn more about how to properly segment your list.  

How to Develop a Powerful Networking Blueprint w/James Huang

Whether you’re new to the real estate industry or you’re an experienced agent, you already understand the power of association and networking. Meeting new faces and talking about your business to others is not only essential for success, but also for getting referrals.

 

However, this can be challenging due to Covid- 19 restrictions, so we have to think outside the box. Real estate is a people business. But what’s equally vital to association and networking, is the power of having global connections.

 

I’m so thrilled to have James Huang as my guest! He’s the President of The Asian Real Estate Association of America (AREAA). James is a true innovator in commercial real estate and has held leadership roles in some of the most well-known commercial firms in the US. He has over 20 years of experience in the field.

 

One of the great things about AREEA is it's open to everyone - new and experienced agents. You don’t need to be Asian to join. It’s a wealth of knowledge for anyone who wants to learn and have a better understanding of the Asian community.

 

To find out more or join AREAA, visit https://areaa.org/

 

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series. 

 

📢  Save The Date! March 17th will be our next Live Virtual Designation Training.

Visit http://www.LuxuryDesignation.com for more information. 🍀

 

The world is getting smaller with the internet and social media. You really need to be well connected, not just locally, but globally.”  -Michael LaFido

Three Things You’ll Learn In This Episode

 

Upgrade your skills, be a lifelong learner:

Never stop learning about real estate. When you upgrade your skills, even if you have a specialty or an expertise… it helps you become more open-minded when you study different practices. It also makes you more knowledgeable and you’ll be more valuable to your connections and relationships.

 


It’s all connected:

Keep networking and connecting with people… not just locally, but globally. Whether you work in luxury residential, commercial, or international - you all deal with the same clients. In fact, I think it’s safe to say that nearly all businesses are connected in some way to real estate. So, when things with Covid get better (and it will get better), you’ll be prepared.

 

The power of joining associations:

Remember, you don’t need to be Asian to join AREAA. You don't need to be Hispanic to join the National Association for Hispanic Real Estate Professionals (NAHREP), be African American to join NAREB, or LGBTQ to be a member of the LGBTQ+ Real Estate Alliance. By becoming members of these associations, we can become allies and bring awareness to their mission. 

 

Guest Bio-

James Huang has been the national president of AREAA since October 2019. He’s also the president of eXp Commercial division of eXp World Holdings. Additionally, James is a shareholder and an advisor to real estate syndications firms and start-up technology companies to help consult, raise capital, and make connections to other private equity investors and family offices from Main Street to Wall Street. 

 

To find out more or join AREAA, visit  https://areaa.org/

The CLUE Report

What is a CLUE report and how can it help both your buyer and seller clients? CLUE stands for “Comprehensive Loss Underwriting Exchange,” and it’s how most insurance companies submit their claim history. If someone’s buying a home and wants to know what kind of insurance claims are a part of that home’s recent history, that’s what the CLUE report provides.  

Real Estate and LGBTQ Inclusion - What You Need to Know w/John Thorpe

The LGBTQ movement has come a long way. But as the nation continues to confront discrimination of all kinds, there's still a lot of work to be done... and housing equality is no exception. 

 

With that said, it's such an honor to have John Thorpe with us. John's been in real estate since 1999. He's also the Inaugural President of the LGBTQ+ Real Estate Alliance (The Alliance). The Alliance was founded in October and in just three months, has grown to over 500 members and over 50 chapters in the US including Puerto Rico.

 

The Alliance is a non-profit organization dedicated to enhancing the professional lives of its members while providing consumers with the proper resources to assist in buying, selling, and enjoying their home. 

 

And it's not just for the LGBTQ population, it's a resource for anyone who needs advice, advocacy, education, or networking. To find out more information about The Alliance, visit https://realestatealliance.org/. There’s no cost to join. 

"Educate yourself, get different perspectives. It will make you more understanding and empathetic. We're all human beings."  -Michael LaFido

 

Three Things You'll Learn In This Episode

 

The data is limited: 

Even though the 2020 census allowed people living in the same household to mark themselves as same-sex partners or spouses, it doesn't include sexual orientation. The average American homeownership rate is about 61%. However, the average for the LGBTQ American is only about 48%, so there's a discrepancy in the data. 

 

The difference between the code of ethics and federal law: 

Even though the real estate code of ethics states you can't discriminate on sexual orientation or gender identity... there's no federal law that mandates this. There are 27 states where there are no explicit laws that protect people from discrimination. 

 

Educate Yourself: 

Grow your knowledge. Attend diversity and inclusion trainings, support minorities in business, listen to those who are unlike you. It'll improve your career, and improve the world we live in. 

 

 

Guest Bio-

John Thorpe is the Inaugural President of the LGBTQ+ Real Estate Alliance. He’s been working in real estate since 1999. For the past 7 years, he’s been with Better Homes and Gardens Real Estate as the Regional Vice President - Membership Development - Franchise Sales/Business Consulting. John lives in Fort Lauderdale, Florida with his husband of 17 years.

 

To find out more about John, visit The Alliance website:

Website: https://realestatealliance.org

Facebook Group: https://www.facebook.com/lgbtqrealliance

Email address:  Ipresident@realestatealliance.org

How to Get in with Builders & Developers

Do you know how to get the attention and impress the builders and developers in your area? Today I’ll tell you what you need to know to start bringing value and eventually start doing business with these potential clients. First, you need to know that nothing happens overnight, so you will need to play the long game. With them, it’s a marathon, not a sprint. Remember, they primarily care about "What's in for me?" They’re a long-term investment of your time and energy, so you have to stay in touch and bring value to them for many years potentially. Have a listen to learn more! 

Title: The Best Practices to Pivot, Thrive and Bring Value During Covid 19 & Beyond w/Monica Reynolds

2020 was a year unlike any other. But even with the challenges brought by the pandemic, the luxury real estate market has remained resilient and is strong in many markets.

 

So what are the best practices that have helped top agents and industry leaders pivot and thrive during this period? What do top coaches recommend in order to bring value to clients? 

 

In this episode, I had the pleasure of speaking with Monica Reynolds, VP of MAPS Coaching at Keller Williams. Having coached more real estate professionals than anyone else in the country, Monica is an industry trailblazer. She played an active role in helping Keller Williams pivot and grow their business during the pandemic.

 

There’s a lot to unpack in this episode. So, grab a pen and notepad (and maybe a cup of coffee), and let’s dive into Monica’s many valuable pointers and inspiring stories for finding success during these uncertain times.

 

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series.

"There’s so much opportunity with luxury right now... Instead of being scared, be aware of what’s happening and look towards the future." -Monica Reynolds

 

Three Things You’ll Learn In This Episode:

 

The importance of going digital:

One of the most mentioned technologies seeing widespread use is also one of the simplest: the Zoom call. It’s ideal for busy luxury clients who are looking for a fast, easy, and effective way to communicate- but don’t forget to look your best and have a professional background when using the platform.

 

The best strategies for agents who want to break into the luxury market:

Agents need to understand that entering luxury is a process, not something that happens right away. There’s no easy button, so it’s best to network, put yourself out there, and work with a team that knows the luxury market inside and out. 

 

It’s essential to keep searching for opportunities to bring value to clients:

Agents can bring value to clients just by knowing what’s going on in the market, their community, and what the future might look like. Be "the expert" of information to your clients.

 

Guest Bio-

Monica Reynolds has been in real estate for 40 years. She is regarded in the industry as the leader of innovative real estate systems and effective team-building strategies that sustain successful real estate careers. Monica has dedicated her career to teaching and coaching agents and assistants in the real estate industry. She pioneered the hiring of administrative assistants and building professional team structures along with replicable and scalable systems.

 

You can contact Monica at:

Monica@KW.com

SALT & the Luxury Market

Today’s video is all about state and local taxes (SALT). As you may know, there’s a $10,000 cap per household (not per person) on what homeowners can write off when filing their income taxes. State and local taxes have been impacting luxury home sales the most, but have also affected resale of all price points—particularly in states with higher property taxes. This is why it’s so important that you understand SALT and are able to articulate its impact to seller clients.

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