Luxury Listing Specialist - Dominate High End Listings In Any Market

Proactive Outreach and Lead Generation w/ Former KW CEO, Chris Heller

Too many agents simply tell clients what they want to hear to get the business. Why is it so important to be ethical and always provide information backed by data and analytics? How can you go about building a team instead of simply waiting for more clients? Why is it so important to know when your market tips to favor the buyer? On this episode, we talk about these questions and more with Chris Heller, former CEO of Keller Williams.

Focus on your core systems, your lead generation, your lead follow up, and getting deals done. -Chris Heller

Takeaways + Tactics

• Bring on more people to help handle the business as you expand.
• Don’t hire someone unless you’re prepared to train them to be successful.
• At some price point, demand drops. You have to know what that point is.

At the start, Chris shared on the roles composing his team and the importance of behavioral and personality assessments. Next, we discussed what a lot of people get wrong when it comes to building teams, and Chris talked about the outbound prospecting his team does. Towards the end, we talked about value adds you can bring to the market.

We also discussed:

• The value of bringing market knowledge
• Luxury in San Diego and the state of the market
• Why you need to inform people with real data and analytics

Most people build teams too soon because they decide to expand before they have the demand for it. Focus first on your core systems and giving the best possible service. Then bring people on as your demands increase. Learn to be smart about hiring and training because that determines the quality of your team. It’s also crucial to arm yourself with as much market data as possible, and know your market well.

Guest Bio

Chris Heller has built one of the most successful real estate teams in the United States. From his selection as Rookie of the Year in 1989, to being the top-producing agent in San Diego County and the #1 Keller Williams associate in all of North America, Chris has earned the respect of colleagues and clients for the exceptional results he delivers. Under Chris’ leadership, the Heller Team has sold thousands of homes. In fact, he has sold more than 100 homes a year, every year for the past two decades. For more than 29 years, Chris has succeeded in a highly competitive marketplace through his leadership, drive and ability to assemble and empower high-performing teams. The specialized members of the Heller Team provide unrivaled market knowledge and client service. For more information go to hellerthehomeseller.com, call 800.800.2978 or email chris@hellerthehomeseller.com.

Why True Luxury Isn’t Just About Pricing w/Jere Metcalf

True luxury isn’t just about price. What are the other elements you should consider? How do you  avoid a listing going stale before you even list it? Why should you avoid going to market too fast? On this episode, we are joined by Jere Metcalf to discuss opportunities luxury agents should be taking, and why you need to think beyond price. 

Too many agents have the scarcity mindset, and want to get a property listed immediately when you only have one chance to make a first impression. -Michael LaFido

Takeaways + Tactics

• A lot of people fail out of the business because they think things should be done the same way by everyone.
• The more expensive and the more unique a listings is, the more you really need to market it that way.
• Don’t go to market too fast. Take your time and get all the elements of the listing right.

At the start of the show, we talked about Jere’s team and podcast, and how she has been able to attract talent into her world. Next, we talked about the Atlanta market and how this year’s luxury trends compare to previous years. We also discussed how to directly and indirectly market to homeowners, and increase the probability of selling a listing.  

We also discussed:

• Why you shouldn’t go to market too fast
• Creating the experience that makes someone want to buy the house
• Why you need to know your numbers

You aren’t just a representation of your company. You’re a representation of your seller as well, and that’s something you should think about before you list a property. Take your time and avoid going to market too fast. It’s about getting in front of the right buyer so they can see that this is the house for them. Know your numbers in your local marketplace, and be aware of what everyone is doing. Try to differentiate yourself, and be thoughtful about your strategy. 

Guest Bio
Jere Metcalf is a leading Atlanta real estate broker who offers unparalleled access, creative marketing concepts and broad market knowledge to her luxury residential client-base.  Jere is consistently a top agent for Atlanta Fine Homes Sotheby’s International Realty, named “Top 3 Company Wide” in 2016. Amongst her various awards received, Jere has also been named “Best Real Estate Agent” in Atlanta. Go to http://jeremetcalfteam.com/ for more information or find her podcast on iTunes.

Working with Chinese Buyers w/Michi Olson

Working with international homebuyers is a great opportunity in real estate right now. What is attracting Chinese buyers to the US market? What are some of the cultural differences you should be aware of? How is foreign investment affecting the San Francisco Bay area? On this episode, we talk with Michi Olson, the Vice President of Business Development and Relocation at Alain Pinel Realtors.

The most important thing is for you to be able to respect and understand the culture-- more important than being able to speak the language. -Michi Olson

Takeaways + Tactics

• The top 5 countries that are purchasing in the US are China, Canada, India, Mexico and England. China is spending the most.
• Clean air, lifestyle, weather and education for their children is a major draw for Chinese buyers in San Francisco.
• For closing gifts: Avoid  clocks, knives, mirrors and the number 4. Give gifts with the numbers 6 and 8, which represent luck and prosperity.

At the start of the show, Michi shared how she got into working with Chinese buyers, and what factors draw Chinese investors to the US. Next, we talked about how much money international investors are spending in the US market and how low inventory is creating a bidding frenzy in the Bay Area market.  

We also discussed:

• Why Chinese investors park their money in the US
• Items to avoid as gifts for a Chinese buyer
• How to ask for proof of funds without offending a foreign investor

Of the $102 billion spent in the US real estate market by foreigners in 2016, $27 billion was spent by the Chinese. This year they spent $37 billion. This shows how much of an opportunity there is in this market. You don’t have to speak the language to work with international buyers, as long as you respect their culture. Knowing the “do’s and don’ts” can allow you to serve international investors exceptionally.

Guest Bio

Michi Olson, SGMS, is Vice President of Business Development and Relocation and serves as Alain Pinel Realtors' primary point-of-contact for company-wide relocation services, including its affiliation with The Leading Real Estate Companies of the World (LeadingRE), the world’s largest referral network for independent real estate services companies that formerly operated as RELO. In this role, she manages the brokerage's corporate relocation network and assists thousands of families annually when they move from one state to another for work purposes, or increasingly, to global destinations in job-related moves. Go to https://www.apr.com/ for more information, email relo@apr.com or call 800.4445.1111

Creating Urgency In a Stagnant Buyer’s Market w/Marti Hampton

At certain price points, all markets start to favor buyers. How do you get people to take action quickly, instead of waiting for a price drop? When a house has been on the market for too long, what problems does this create? How do you reinvent a listing that has gone stale? On this episode, we are joined by team owner and luxury specialist, Marti Hampton, who shares the strategies that generate interest and excitement for listings.

Everyday that your house is on the market, you lose ability to negotiate and you have a lesser position. -Marti Hampton

Takeaways + Tactics

• Your database is really your true selling feature as an agent.
  
• For every 500 online views you should have 10 people that came through the home.
  
• Having many showings and no offers is a worse position than having a few showings.

At the start, Marti gave us a bit of her background, and why it’s so important to get buyers interested in a home immediately. Next, we talked about Marti’s other business Coming Soon Homes, and why more days on market can weaken your position. Towards the end of the show, we discussed how to revive a stale listing.

Marti also shared on:

• Creating excitement around a listing with marketing
• How to reinvent the market you’re going after
• How many showings your online views should be generating

The less time a property has spent on the market, the more urgency there will be around it, and the more leverage the agent has. Every day a house sits on the market reduces your effectiveness to negotiate, weakening your position. It’s critical to create excitement and desire for your properties.Once your property becomes stale, savvy buyers will have a much stronger position, which will impact the list price. Remember: you can’t fool the buyer. They often know a lot more about the market than you might think.

Guest Bio
Marti Hampton heads the top REMAX team in the Carolina’s. She’s also the founder of Coming Soon Homes. She has been in a real estate agent since the 1980s, and she is passionate about her profession, striving to improve with each day. Marti has served Raleigh, Cary, and the Triangle region for over 25 years now. She is proud to sell more previously-owned homes than anyone in the Triangle. In 2012, she was ranked the top real estate agent in the nation and is proud to be the highest producing sales agent on the East Coast for Re/Max. Go to https://www.martihampton.com/ for more information or email marti@martihampton.com to get in touch.

Breaking Into Luxury: How To Make A Compelling Case to High End Prospects w/Dan Conn

What does an agent need in order to get into the luxury side of real estate? Why is it so crucial as an agent to be able to “own your numbers”? On this episode CEO of Christie’s International Real Estate, Dan Conn, shares the biggest market trends in luxury real estate, and gives insights on why real estate remains a stable investment.

If you own the numbers and you can make a compelling case to the client about your ability to transact at the high end of the market on a listing, you’ve got a much better shot. -Dan Conn

Takeaways + Tactics

• It’s not enough to say a home will be on Zillow or Trulia. You have to be able to find distribution globally, and get global syndication sources.
• Real estate perseveres through an economic downturn in a way that many businesses don’t. Real estate in the US has outperformed the S&P over the last 17 years.
• When breaking into luxury, your firm has to provide the kind of tools you need to be competitive at that end of the market.

At the start of the show, Dan gave some background on Christie’s, their affiliates, and how they’ve done over $5 billion in volume over the last 5 years. Next, we talked about how many people there are in the world who can afford the $100 million dollar properties on the global market. Towards the end of the show, we discussed the importance of leading marketing strategies for making a home stand out.

We also discussed:

• Notable trends in the luxury market
• Advice to agents who want to break into luxury
• The importance of global syndication of your listings

When you’re trying to break into luxury, it’s important to be a part of a network that gets you the kind of distribution and exposure that ensures that people across the world know about the property. It’s also necessary that you own the numbers and prove that your surpass your competition when it comes to making a property stand out. Remember: you are responsible for how that property is positioned online.

Guest Bio
Dan is the CEO of Christie's International Real Estate. Prior to that he worked at Brookfield Asset Management, where he managed the company's Hard Rock Hotel & Casino investment, overseeing all property level departments, including finance, strategy, legal, marketing and human resources as well as developing the HRHC franchise business. Go to http://www.christiesrealestate.com/ for more info.

How to Attract Luxury Clients with Video and Content Marketing w/Frank Klesitz

There are very few luxury agents that do any type of custom video content because they fear the expense. How does this misconception lead to missed opportunities? Why is it so important to have video content in your marketing plan? How do you demonstrate your expertise and educate your database? On this episode, we are joined by Vyral Marketing founder, Frank Klesitz, who shares how video can boost your business.

If you’re not demonstrating your expertise, you’re really not spending time with people and letting them get to know you. -Frank Klesitz

Takeaways + Tactics

• The KPI you should be tracking is people watching videos, consuming your podcasts, and reading your blogs.
• Many people have the false idea that you have to spend ridiculous amounts of money on video.
• Lighting is going to be an issue no matter what camera you use.

At the start of the show, we talked about the power of short video updates to your database, and Frank shared his own experience in luxury real estate. We also talked about why having a lot of visuals on Facebook is so powerful, and why your aim shouldn’t just be to send out content.

We also discussed:

• The biggest misconception people have about video content
• How to educate and show people that you have expertise
• Why you don’t need a super expensive camera to get quality video content

Rounding up your contacts, reconnecting with your database, and letting them know you’re selling real estate isn’t a new concept; but you have to take it further. It’s not just about people seeing your image, it’s about them actually spending time with you. By building a wealthy stock of video content, you give yourself instant credibility and play into the power that videos have in conversion.

Guest Bio

Frank is an entrepreneur, marketer, coach, and real estate investor who built the company Vyral Marketing which serves a wide range of professional services companies around the country. For more information on what Vyral Marketing can do for your business visit getvyral.com.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

 

How Celebrity Endorsements Can Propel an Agent to Rockstar Status in Their Market w/Matt Wagner

In today’s world, celebrity sells. Why is the celebrity seal of approval such a big deal in luxury real estate? What are the things you should be doing to better align your branding with your messaging? What does it take to get a celebrity in your corner? On this episode, we are joined by marketing consultant and founder of Radio and Television Experts, Matt Wagner, who shares on the celebrity connection in luxury real estate.

"You have to think like today's consumer thinks." -Matt Wagner

Takeaways + Tactics

• Online sellers are doing their homework more than ever, especially on the luxury side.
• The “white-out rule” in testimonials: if you can white-out your name and put the name of any other agent in the quote, it’s a bad quote. Don’t use it.
• Diversify your portfolio. Mix luxury and high-end with lower-end listings to get the cash flow going.

At the start of the show Matt shared on marketing properties on radio and television, and how to create an urgency about selling a property. Next we talked about the power of celebrity endorsements and why it is so important to remember that people do a lot of due diligence these days. Towards the end of the show we talked about the necessity of audits and optimization.

We also discussed:

• How to get into a celebrity circle of trust
• The importance of having a branding-messaging match
• The power of telling a story

A celebrity endorsement is a seal of approval like no other. When someone with a lot of clout and respect puts their stamp on someone, it immediately communicates trust and credibility. People aren’t just Googling people anymore, they dig deeper and actually do their due diligence. Make sure your testimonials aren’t too general, or you’ll seem like every other agent out there. Put yourself in the consumer’s shoes so you can understand the things they look out for and the things that get you taken off the list.

Guest Bio
Matt is the owner of Radio And Television Experts. He has become known around the industry as the premier consultant for helping top agents effectively use media to become local celebrities in their area and create a steady flow of easily converted prospects. Go to http://www.radioandtelevisionexperts.com/ for more information.

How Technology Can Assist an Agent in Selling High-End Real Estate w/ Robert Reffkin

The average agent has 13 different online logins, and spends 89% of their time on admin and trivial tasks. What are companies missing when trying to serve the needs of agents? Why is culture such an important part of building a successful business? What are the high-level strategies for luxury listings? On this episode, we are joined by Robert Reffkin, the CEO of the growing real estate tech startup, Compass.

As important as technology and great marketing are, I can’t stress enough the importance of culture and community. -Robert Reffkin

Takeaways + Tactics

• There are 270 software providers building tools for agents, but they are small and fragmented. Meanwhile, the big companies aren’t asking agents what they want.
  
• Brokers don’t have enough resources to build technology in-house for agents.
  
• No automated valuation tool can beat the agent.
  
• The average agent who is with Compass grew their business by 25% last year.

At the start of the show, Robert shared how he got started and what inspired the creation of Compass. He also shared on the existing real estate tech space, and how much time agents waste on meaningless tasks. Robert also shared his team breakdown and why he brought together people who don’t come from the real estate world. He also shared on the importance of being selective in hiring, “every great institution in the world is selective, real estate needs to be more selective.” We also discussed what people look for in real estate agents, “they want someone they can proudly sit next to, someone collaborative, experienced, likable and fully committed.  

Robert also discussed:

• His 80-person marketing team
• The importance of culture and community
• How to use technology for pricing
• Why luxury listings need to be treated in a unique way
• Why Compass gives agents the tools to make their lives easier

Real estate agents are the largest underserved customer base in the country. There just hasn’t been the investment of people and money to make the industry what it could be. There are over a million agents in the US generating a combined $5 billion in commissions every year, but they just don’t have any great companies asking them what they want. Until an agent has one login, they are going to be held back from growing their business in a meaningful way. Agents need to be focused on their clients, not admin. Applying technology to these issues will bring help to bring the industry forward.

Guest Bio

Robert Reffkin is the CEO of Urban Compass, a tech-driven New York City real estate firm. Prior to Compass, Robert worked at Goldman Sachs as Chief of Staff to the President & COO following five years working in the firm's private equity arm. Prior to Goldman Sachs, he worked at Lazard and McKinsey & Company. In 2005, he was appointed as a White House Fellow to serve as special assistant to the Secretary of the Treasury. Robert is also the Founder of New York Needs You. He received a B.A. and M.B.A. from Columbia University. Outside of work, he recently completed 50 marathons, one in each state, to raise $1 million for nonprofits. Go to https://www.compass.com/ for more info or email robert.reffkin@compass.com.

Become a Certified Luxury Listing Specialist and learn how to break in and dominate high end homes in your market. Learn more about the LUXE Luxury Listing Specialist Certification at luxurylistingspecialist.com.

How to Differentiate Yourself in Luxury Real Estate w/David Banks

Positioning a home to appeal to the majority of the market will bring you closer to a sale. What activities are crucial to making a home attract more online and offline interest? What does it take to break into a market with an elevated price point? On this episode, we are joined by real estate veteran and owner of RE/MAX By the Bay, David Banks who shares on his winning strategies.

Moving into an area that you want to work in is important. You’ll network with everyone that you want to represent in the future.

- David Banks

Takeaways + Tactics

• At a certain price point, a shift occurs from a seller’s market to a buyer’s market.
• New photos increase online activity, which will increase the probability of a showing, which will increase the probability of a fair offer.
• Lead with a giving hand by adding charitable donations to your operations.

At the start of the show, we learned about David’s beginnings in real estate, and he provided information on the luxury listings market in the Portland area. Next, we talked about how he was able to shift into elevated price points by moving to the area in which he wanted to sell. He also shared how charitable donations are built into his business operations. Towards the end of the show we talked about the importance of using your skills to increase interest in a property.

David also spoke about:

• His hardcover presentation book and why it’s so effective
• How to increase the probability of a fair offer
• The importance of staging and repositioning a home

It’s impossible to force a buyer into a home, but it is our job to use the tools in our arsenal to reposition the home effectively to drum up interest that will lead to offers. There are many strategies to do this, including high-quality presentation books, staging the home, and investing in really good photos and videos of the home. These things will directly impact how quickly the home will sell.

Guest Bio
David opened RE/MAX By The Bay in 1994, with the goal of building an agency capable of providing an unsurpassed client experience. RE/MAX By The Bay quickly became home to the highest producing agents in the States of Maine and New Hampshire. David’s team has become known throughout the nation as a top-producing team, consistently ranking among the elite teams across all of RE/MAX. Go to http://www.davidbanksteam.com/about for more information.

The Most Important Skill You Need in Luxury Real Estate w/Sean Conlon

In luxury real estate, it only takes getting that first client to get things going. How do you keep your antennae up for these opportunities, and what is the most important skill you’ll need? What are the larger global trends taking place in luxury real estate?On this episode, we discuss this with real estate entrepreneur, merchant banker, and host of CNBC's The Deed, Sean Conlon.

Great sales, particularly at a luxury level, is listening. -Sean Conlon

Takeaways + Tactics

• Luxury real estate is a great preservation of capital in the long run.
• A natural curiosity is the key to being a really good broker.
• For new developments: approach developers about the kind of land they want.

At the start of the show, Sean shared what helped him succeed and how he was able to grow with his clients. Next, we discussed the power of having a natural curiosity and why it’s so important to be a good listener. We discussed why luxury real estate is such a great way to preserve wealth. Towards the end of the show, we discussed the power of knowing about an area, and a strategy for getting into new developments.

We also shared on:

• How to sell people on "you"
• Market trends and the effect of politics
• Advice for someone just getting into real estate

Look at your listing portfolio like your financial portfolio, and diversify it by mixing in luxury listings. Learn to take the opportunities as they come, and work on getting that first luxury listing. If you treat every deal like it’s coming from the most important client in the world, you’ll create referral opportunities and start generating more listings. The key skill you need is good listening. Learn as much as you can about specific areas so you can always be in the know.

Guest Bio
Sean J. Conlon is an American businessman, real estate entrepreneur, investor, television personality and philanthropist. He is currently the chairman and founder of Conlon & Co, CONLON/Christie’s International Real Estate, CONLON Commercial and Conlon Capital. He is also currently the co-host of The Deed which is an unscripted television series focused on real estate investing on CNBC. Go to seanconlon.com for more info.