Luxury Listing Specialist - Dominate High End Listings In Any Market

Why Updated Appraisals Can Be Helpful When Selling A Luxury Home Versus Online Evaluations w/Mark Morgan

Sellers often think their home is worth much more than it really is worth.  How does an agent determine asking price on a unique or luxury home?  Are online evaluations more reliable than an updated appraisal?  Can the intricacies of home appraisals ever be replaced by algorithms? On this episode, I tackle these questions with Mark Morgan, a veteran real estate appraiser who specializes in luxury homes.  He outlines the important factors that should always be considered when evaluating properties.

 

I recommend getting a pre-appraisal before versus relying on an online evaluation. Algorithms are taken as accurate, but nothing could be farther from the truth. -Mark Morgan

 

Takeaways + Tactics

• Most of the time, online evaluations quote less than 50% of the actual price of luxury properties.
• Appraisals are an opinion of value, and evaluations should always factor into account the specific features of a property.
• To determine value, appraisers need to consider scarcity, desirability, utility, and purchasing power.

 

Though online appraisal tools may offer an easy answer, the fact remains that sellers want to find the highest possible price for their properties. What better way to fetch high returns than through comprehensive evaluations? Professionally conducted appraisals continue to be the best way to identify property value. Quality resides not in algorithms, but in experience and specific analysis.

Why Adapting to Diverse Markets Brings Greater Success w/ Richard Silver

Our society is rapidly changing, and many real estate businesses are lagging behind. How can you take diversity into consideration when you hire and run your office or team? How are so many offices and teams failing to reflect the areas they live in? How can we build a successful, long-standing business that sets itself apart from competitors? In this episode, I talk with Richard Silver of Silver Burtnick & Associates for these key insights.

 

I wanted a team that looked like the people of our city. -Richard Silver  

 

Takeaways + Tactics

• Change is essential and should be embraced.
  
  
• Diversity of agents with regards to race, religion, age, culture and language only stands to benefit your business. This is particularly true in multicultural societies.
  
  
• Use of new technologies is vital, from testing personalities to marketing homes.

 

At the start of the show, we talked about Richard’s journey and how he got started. We also talked about the importance of embracing change, and the power of diverse teams in the success of businesses. We talked about how luxury can sometimes be defined according to how many properties someone has. We also talked about why every chance to meet potential clients should be seized.

We also discussed:

• The necessity of networking
• Situational relevance and how it works

 

Multicultural societies, spurred on by globalization and rapidly evolving technologies, require change in the traditional approach to luxury. As markets become more diverse, agents need to consider the importance of representative teams. Further, as technological advancements show no signs of slowing, it is imperative they are used to the agent’s benefit. Change is inevitable, but that should not be cause for concern. Rather, it should be hailed as an opportunity for further-reaching success.

 

Guest Bio

Leading the Torontoism.com Team at Sotheby's International Realty Canada, Richard is designated as an ABR, e-PRO and a Certified International Property Specialist (CIPS). A past Director-at-Large for the Canadian Real Estate Association, and Past-President of the Toronto Real Estate Board.

A speaker and writer about the use of "Technology in Real Estate" as well as "The International Real Estate Market", he is founding Past-President of the Asian Real Estate Association of America, Toronto Chapter. Inman News named him one of the "Top 100 Most Influential people in Real Estate for 2013". Learn more here: https://torontoism.com/

How to Bring Value with Visuals & Knowledge of the Market with Keeping Current Matters

Keeping the consumer informed about the market and where it’s going is one of the most valuable things we can bring to the table as an agent. How do we make sure we present this data and information in a way clients can understand and retain? Why is it important to focus on more than just our local markets? Where are home prices headed as we get into a new year? On this episode, I’m joined by Keeping Current Matters VP of Content, Sales & Marketing, David Childers, and Senior Content Developer Morgan Tranquist to share why it’s important for us to stay current with what’s happening in the market, wherever we are.

 

Powerful, relevant visuals give clients the best opportunity to understand what is going on and the nuances of the real estate market. -David Childers, Keeping Current Matters

 

Takeaways + Tactics

• When someone is thinking of buying or selling a house, they pay more attention to the news. We have to connect the dots between national and local. Acknowledge what the buyer/seller has heard and then drill it down to their locality.
• When demonstrated visually, retention of a concept goes up significantly.
• Have the heart of a teacher, not a salesman.

 

At the start of the show, David shared how KCM got started and how they’ve set the bar high for helping agents become experts on the market and win more opportunities and listings. Next, we talked about the importance of visuals and how the downturn created a lot of misinformation and paralysis.

We also discussed:

• The importance of connecting local and national market knowledge
• Why we should be encouraged by where housing prices are going

As real estate professionals, our jobs aren’t done until our clients are truly informed. We aren’t salespeople— we should be teachers first and foremost. We have to be willing to take the time in every presentation to teach our clients. It’s our responsibility to stay up-to-date with the market and present the data in a visually appealing way so it really sticks with the client. Local knowledge simply isn’t enough. It’s crucial to be aware of what’s happening nationally, and still relate it to the local market.

 

Guest Bios

David is the VP of Content, Sales & Marketing and Morgan is a Senior Content Developer at Keeping Current Matters.

To get a free 14-day trial, go to https://trykcm.com/luxury . To read their highly informative blog, go to http://kcmblog.com/.

Video Tips & Secrets from the Top Real Estate Video Influencer in the Country w/Christophe Choo

Video is an area that is lacking for the majority of real estate agents, and it’s a huge missed opportunity. What makes people reluctant to try video and how can we overcome this hesitation? What kind of content should we be creating? Why should we create and share content about causes that are close to our hearts? On this episode, Christophe Choo, who was just named BombBomb’s top video influencer of the year, shares how we can level up on our use of video.

 

Your message has to be natural, and from the heart and the soul. That seems to be what really works and what people want to see. -Christophe Choo

 

Takeaways + Tactics

• 87% of consumers want videos but only 9%-11% of brokers are actually doing it.
  
  
• People are watching Reality TV more than anything, and they want us to be real and natural—not perfect.
  
  
• Don’t overthink video. You’re just having a conversation with a friend, and a camera happens to be on.  

 

At the start of the show, Christophe shared how he started incorporating video into his business. Next, we talked about the importance of authenticity and why that’s so valuable in luxury real estate. Christophe also shared some of the biggest opportunities that have come from his video.

We also discussed:

• Ways to practice to get better at video
• How to get over the fear of being in front of the camera
• How Christophe monetized his videos

 

Video is the greatest opportunity in our industry right now because consumers want it. However, very few real estate agents are answering that call. Not only does video make it easier for people to find us, it also allows us to build trust with potential clients. It’s natural for us to be nervous about it, but video content is nothing more than talking to a friend with the camera on. The more you practice and work at it, the better and more confident you’ll get. Ultimately, you’ll end up having people gravitate towards doing business with you without having to seek them.

 

Guest Bio -

Christophe Choo is a Coldwell Banker Residential Brokerage real estate agent serving Beverly Hills, CA and the surrounding areas. He is a top producing Beverly Hills real estate agent, a speaker and Bomb Bomb's #1 2018 Real Estate Video influencer.

Go to http://www.christophechoo.com/ for more information or email christophe@christophechoo.com. Find him on YouTube, Twitter and other platforms.

Global Real Estate Trends and Digital Marketing Tips w/Stephanie Anton

Keeping an eye on the market helps us plan ahead, but what direction is the luxury real estate market headed? What are the ways we can increase engagement on our online listings? And how can we get better at communicating with our clients? In this episode, Stephanie Anton shares her digital marketing tips and predictions on the luxury real estate market.

 

Having insight into the hearts and minds of the affluent consumer is critical for understanding how to play in this market. -Stephanie Anton

 

Takeaways + Tactics

• Properties that have more photographs get more clicks and have higher engagement rates. The more photographs you have for an online listing, the better.
  
  
• Videos aren't supposed to give the viewer a property tour. They’re supposed to tell a story. Affluent buyers don’t buy properties because they need a roof over their heads. They buy them because of the lifestyle that comes with the property.
  
  
• The language we use should be influenced by the buyer’s motivation. We have to be on the same wavelength with the buyer, and to do so we have to find out whether they’re looking for a temporary house or a permanent home.

In the beginning of the episode, we talked about what attracts attention to online listings and how we can optimize videos to attract the right buyers. Next, we talked about how we can determine the motivations of the buyer. We also discussed why it’s important for us to be aware of them.

We also shared insights on:

• How tax changes impacted the real estate market
• The current state of the luxury market and trends
• Why properties that are easier to customize get sold first
• How tax changes have good and bad effects depending on the market

Surveys show that a large percentage of the real estate luxury market is looking to buy, and a very small percentage is looking to sell. There’s still a strong demand to buy real estate among those who are well off. A good reason for this consumer behavior could be the growth we’ve seen in the global net worth. This interest in buying luxury real estate isn’t limited to North America. The trend has been been noticed in Europe and Asia as well.

 

Guest bio

Stephanie Anton is the President at Luxury Portfolio International, the luxury division of Leading Real Estate Companies of the World.

Stephanie has been running the daily marketing operations for Luxury Portfolio International since 2005, and since then she’s been invited to speaking events on the international luxury market.

If you’re interested in joining a marketing program for top performing brokerages, you can find our more about it here.

 

Register Here to download Luxury Portfolio's Whitepapers

How to Establish Ourselves As Experts & Have Clients Coming to Us w/Glenn Twiddle

Many real estate agents feel frustrated because they have to deal with rejection on a daily basis. Is there a way to attract clients instead of chasing them? How can we establish ourselves as authorities in our industry? What is the biggest leverage we have when it comes to negotiations? In this episode, Glenn Twiddle shares how we can become the face of real estate in our local community.

 

"You want to not only differentiate yourself, but to also be positioned as a leading authority in your business." -Glenn Twiddle

 

Takeaways + Tactics

• Inbound marketing saves time and energy.
• The biggest leverage we have is our reputation.
• The first luxury client is the gateway to bigger earnings.

 

When it comes to establishing ourselves as experts, authorship is another effective way to do this. When we have our name on a book, we come off as more professional and knowledgeable. Our book doesn’t have to be a classic to make a good impression, but it has to contain good information so people who read it will find it helpful. Another way we can stand out is by having a professional photo shoot where we show off our personality. These methods can make a big difference in helping us to differentiate ourselves and build a reputation.

Guest Bio-

Glenn’s history includes being a Real Estate Agent, Sales Manager, Sales Trainer, Real Estate Principal and Business owner, and Clinical Hypnotherapist. He started as a Salesperson and quickly became a number 1 salesperson in the competitive inner city Brisbane apartment market. Glenn has trained and mentored thousands of real estate agents in his capacity as a Sales Trainer for the Real Estate Institute of Qld (REIQ), Coldwell Banker, the number one real estate franchise in the WORLD, Brisbane Apartment Sales, Alto Real Estate, Ray White Centre for Excellence, LJ Hooker, Richardson and Wrench and many others. Go to http://www.glenntwiddle.com.au/ for more information.

How to Attract More Referrals and Use Video Marketing to Build Authority & Trust w/Christine Carlo George

Video marketing is one of the hottest online marketing trends, and it has proven itself to be a powerful tool in real estate. How can social media and content marketing help us build trust and authority? Why is it important to constantly learn new things in a shifting industry? How can we use the law of reciprocity to get more referrals? In this episode, Christine Carlo George talks about her journey and what it takes to succeed with video marketing.

 

I never want to be the smartest person in the room. I’m constantly looking to learn from other people. -Christine Carlo-George

 

Takeaways + Tactics

• One way we can reach people more easily is by becoming an authority in our niche. One of the best strategies for doing so is to use social media platforms and content marketing.
  
• In an industry where technology has changed many of the ways we communicate and generate leads, it’s vital for us to have a student mindset and refrain from assuming that we’re the smartest person in the room.
  
• One of the best tactics for attracting more referrals involves providing value to other agents. We have to give referrals and find ways for helping others before we ask for help.

At the beginning of the episode, we talked about building trust, giving value, and how people are more likely to share what worked and what didn’t for them in an industry where the entrepreneurial mindset is present.

We also shared insights on:

• How video marketing can help us position ourselves as experts
• Why we don’t need expensive equipment to get started
• How we can benefit from interviewing people from other industries as well

 

Video marketing is one of the best ways to share information and build trust. Because it’s a better attention-grabber than many other forms of marketing, it will probably never go away. As a result, more agents should invest their time in this form of content marketing to build trust and position themselves as authorities in their niche.

 

Guest Bio:

Christine Carlo George is the President of Marketing & Business Development for Leading Edge Real Estate. Christine is responsible for their luxury strategy and oversees the company's marketing and business development strategies and all marketing related activities including company branding, community relations, advertising, public relations, communications and social media.

How to Build Confidence & Competence in Luxury Real Estate w/Dean Cottrill

 

The luxury client is the most demanding of all the client segments, and this can intimidate agents. How does boosting our competence actually contribute to our confidence? What are the 4 agent archetypes, and how can each one maximize their strengths? How does trust fit into how well we convert? On this episode, the president of the Brokerage Consulting Division at T3 Sixty, Dean Cottrill, shares the secret to success in luxury real estate, even for a new agent.

 

If new professionals can increase their competence, knowledge, and skills, that brings the confidence. -Dean Cottrill

 

Takeaways + Tactics

• 4 agent archetypes: the networker, the marketer, the converter, and the prospector
• Sales professionals should have at least 5 areas they are going to focus on to drive revenue to their business.
• If you do something more than twice, you have to create a system for it.
• Luxury consumers have the highest expectations, because they have experienced a high level of service and support.

 

To Learn More About The 4 Agent Archetypes, Click HERE.

 

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

At the start of the show, Dean shared on the work T3 Sixty does and how good leaders want to simplify real estate for their people. Next, Dean broke down the 4 different types of agents and he also talked about why confidence and competence are so important. We also spoke about the importance of relying on data and market insights and not our own opinions or the opinions of our clients.

We also discussed:

• How luxury consumers are different from other consumers
• What sets top agents apart
• How increasing confidence increase conversions

 

Luxury clients are used to a high level of service and support. If we want to appeal to them, we need to have a high level of confidence backed up by actual competence and knowledge. We have to create systems that allow us to duplicate our performance without reinventing the wheel. This results in more business, more referrals, and more confidence to know we can do a high level of business. That’s ultimately what separates top level agents from the rest.

 

Guest Bio

Dean is president of T3 Sixty’s Brokerage Consulting Division. In addition to helping brokers and their companies reach higher levels of success and profitability, he also leads the T3 Fellows program. He has over 20 years of hands-on leadership experience and has held several senior-level positions with real estate brokerage organizations including Long & Foster, Weichert Realtors and Coldwell Banker Residential Brokerage (NRT), where he spent the last 10 years of his career. Go to https://www.t360.com/ for more information.

To access the 4 Agent Archetypes webinar, go to t3fellows.com

From Contact to Contract: How to Build Relationships, Engage With People & Market Yourself at a High Level w/ Saul Klein

The momentum in our business can often be attributed to how many contacts we’re making. What must we do to build and maintain high value relationships? How do we differentiate ourselves when the market is crowded and the competition is so high? set ourselves apart? On this episode real estate industry legend, Saul Klein, talks about why contacts are the key to our success in business.

 

One of the ways you build trust and confidence is by demonstrating expertise.

-Saul Klein

 

Takeaways + Tactics

• The best software is the one you use and generate productivity from. 
   
• Having more conversations with people can get you out of a slump 
   
• If you’re going to do what everyone else is doing, the only thing you can differentiate on is a lower price. 

 

If we want to work smarter, attract luxury clients, and increase the average sale price of the homes we represent, we have to prioritize the conversations we’re having, the relationships we’re building and the ways in which we’re engaging. Even though it doesn’t happen overnight, anytime we build a relationship we are creating opportunities and setting ourselves up for business down the line.

  

Guest Bio

Saul Klein is widely recognized as the real estate industry’s first Internet Evangelist. He was selected by the National Association Of REALTORS® as one of the “25 Most Influential People in the Real Estate Industry” in 2003, and has been selected as one of the “100 Most Influential Real Estate People” by Inman News. Go to http://www.thedataadvocate.com/ for more information.

How You Can Use Video to Position Yourself and Attract More Clients w/ Sue “Pinky” Benson

 

Video is one of the most engaging ways to create content. Plus, since our audience can see us, the level of trust we build is higher. How is creating video content for social media platforms different from what we see on television? What equipment do we need? Most importantly, what kinds of topics should we cover to attract as many viewers as possible? In this episode, Sue "Pinky" Benson talks about how she generates leads and builds trust in a highly competitive market by using video.

 

 

Answering common questions for video content are easy, ‘low-hanging fruit’. -Sue “Pinky” Benson

Takeaways + Tactics

• Being authentic and using a vlogging style is more relatable and friendly to viewers.
  
  
• Being genuine gains more trust. Real estate agents often invest too much into creating a professional persona, and most clients see it as “trying too hard”.
  
  
• Our audience dictates our behavior on camera, and it depends on our demographic. If we want to make video work for us, we have to ask ourselves, “What clients do we want to work with?”.
  
  
• Millenials don’t want to be sold to. They want a real person, and not a salesman.

 

In the beginning of the episode, we talked about how agents should present themselves on camera and why we don’t have to emulate the people we see on television. Next, we talked about the importance of figuring out what audience we want to reach and how this will decide the type of content we create.

 

We also shared insights on:

• How social media promotions work and why consistency is vital  
• Why sharing political views or religious views might alienate some of our prospects and make us lose business
• Why we don’t need expensive equipment and editing tools to make make good videos

 

Video marketing is all about building trust and showing our audience that we have the answers to their questions. What helps our message truly get through the screen is speaking the language of our audience. The demographic of our ideal client is what determines the tone, language used, and content delivery.

 

Guest bio

Sue "Pinky" Benson is a real estate video influencer, speaker, and real estate agent in Naples, Florida.

She was featured on National Association of Realtors Magazine and Florida Realtor Magazine and has been recognized by major publications as a video marketing expert across North America.

She currently manages Pinky knowns Naples, and you get in touch with her on her Facebook account.