Luxury Listing Specialist - Dominate High End Listings In Any Market

The Three Things that Separate Successful Teams from the Rest w/Steve Olson

 

Most agents don’t have the budget, tolerance, and patience to wait for the good results of their strategies. How should you go about evaluating whether something is really working? What factors do you need to consider in order to hire really good people? Do you need to have a luxury lifestyle to be worthy of getting high-end listings? On this episode, Kingston Lane CEO Steve Olson shares on the activities, mindsets, and behaviors that will make you successful at any price point.

 

 

You have to have the cadence, ability, threshold, and tolerance to run advertising and be okay that some of the stuff isn’t going to work. -Steve Olson

 

Takeaways + Tactics

• If you can get most marketing to work in the high end, it will work for the “bread and butter” tenfold.
• You can’t have agents on your team that are only happy when they get happy results. They have to be in love with the journey.
• When it comes to selling luxury, you don’t have to live the lifestyle you sell.

 

At the start of the show, Steve talked about what Kingston Lane does for agents, and shares his observations on advertising after running thousands of ads. Next, we talked about the importance of hiring people that match your culture and goals. We also talked about one of the biggest misconceptions people have about luxury listings.

We also discussed:

• Productivity tips and improvements
• Steve’s tip for hiring agents who will always work hard
• Why we should never expect our business to be easy

There are going to be ups and downs in real estate, but we have to keep the motivation to do our work. We make the money we make because we’re paid to negotiate our client’s emotions. The minute the business gets easy or streamlined, our commission dollars are going to plummet. Ultimately, we have to become experts at hiring well and tracking everything we do. Remember that the ability to sell luxury has nothing to do with being at that level in our own lifestyle. We just have to bring a high level of quality in the service we provide.

 

Guest Bio

Steve Olson is the President of Kingston Lane and an award-winning veteran of the real estate industry. Steve’s holistic experience comes from his success in real estate sales, team and brokerage leadership, and coaching the highest-producing teams in North America. Steve is a true industry leader with cutting-edge tactics that he shares with teams and also utilizes in his own real estate business every day. Go to https://kingstonlane.com/ for more information.

How to Appeal to More International, High Net Worth Buyers w/Jim Park

 

People think luxury is about driving a nice car and dressing well, but it’s really about engaging your clients in a different way and offering a valuable experience. How are “global” and “luxury” actually a real strategy? How can you become proactive, anticipate needs, and build a clear system to help luxury clients? What are the big trends in the international luxury market? On this episode, Mortgage Collaborative Partner and luxury expert Jim Park shares on the increase of international buyers and how to capitalize on it.

 

 

If you want to build a clientele that’s global, luxury and high net worth, then international is certainly an aspect that you can focus on. -Jim Park

 

Takeaways + Tactics

• When you’re dealing with international buyers, remember that you have a small window. You might have to line up many viewings within a few days. Make sure you hone in on what they want.

• The five states international buyers are primarily going to are: Florida, Texas, California, New Jersey and Arizona.

• People who buy second homes internationally are high net worth individuals, so appealing to them involves selling the luxury experience.

 

At the start of the show, Jim shared on how he got started and what he means when he says luxury is a strategy. We talked about how to get more referrals, which are the main sources of the US’s international buyers. We also talked about some of the ways to make the process of looking for a home easier for an international buyer.

We also discussed:

• The Ritz-Carlton experience
• How to be more proactive and anticipate the needs of international buyers
• Social media tools

People are becoming more global, and real estate is mirroring this. There’s a lot more to getting a more international clientele than understanding their culture. They want their agent to be their eyes and ears, so you have to really hone in on what their looking for in a short span of time. When a high net worth individual wants to buy, they want the amenities, the location, and the experience you are offering.

 

Guest Bio -

Jim Park is the 2013 Chair of the Asian Real Estate Association of America (AREAA) and a partner and co-founder of the Mortgage Collaborative. The Mortgage Collaborative works with small and mid-sized lenders to strength its market power and to create innovative mortgage solutions for this important segment of the mortgage market. Go to https://www.areaa.org/ for more information. 

How We Can Buy & Sell Real Estate Better Through Technology w/Simon Chen

A lot of Realtors live in fear that technology will eventually replace their role in the home buying and selling process. Is it true that we’ll end up being edged out of our businesses by machines? What parts of the real estate process are actually enhanced by technology? What are some of the ways to help foreign buyers and provide value? On this episode Simon Chen, the CEO and President of ERA Real Estate, shares why our industry stands to benefit greatly from tech.

 

 

The consumer experience is going to benefit greatly from technology. -Simon Chen

 

Takeaways + Tactics

• None of what we do will be made obsolete by technology. In fact, technology will make things easier for us, and better for our clients.

• Not having tech tools at your disposal takes away your competitive edge in today’s market.

• Making the home appealing to a broad a spectrum is the key to any staging approach.

• When it comes to foreign buyers, translating listings to native languages is a huge piece of value.

 

At the start of the show, Simon talked about his background, how he started in investment banking, and the strategy he used to target foreign buyers. Next, we talked about why staging is so prevalent in real estate today. We also talked about why we have no reason to be afraid of technology. Towards the end, we discussed where the luxury market is going.

We also covered:

• How to leverage tech resources
• How to get more eyeball traffic on your listings
• How tax affects buyer behavior

 

Technology isn’t going to edge us out. In fact, it’s going to enhance what we do. Even though the buyers rely on tech to find properties, our work begins after they’ve found the house. The consumer buying experience and the broker/agent experience is going to get better. Instead of fearing technology, we should welcome and leverage it because it will make our jobs easier and make us more competitive.

 

Guest Bio

Simon Chen is the President & CEO at ERA Real Estate. Go to https://exploreera.com  for more information. Before this, Chen was the COO at Realty One Group. He also founded real estate investment and technology consulting firm Century Pacific Group and worked as senior director of corporate development and strategy at realtor.com and its operator, Move, Inc. For more information on ERA Real Estate, visit https://www.era.com/

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

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

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

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

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

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

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

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/.