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