Luxury Listing Specialist - Dominate High End Listings In Any Market

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

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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.

Expert Strategies for Jumping to the Next Price Point w/Bob Hurwitz

Too many agents are acting as order-takers instead of advisors. Why is it so important to be assertive? How do you break into the high-end listings consistently? What are some opportunities these properties create? On this episode, Bob Hurwitz, broker, CEO and founder of Hurwitz James Company shares his strategies for breaking into high-end listings.

It’s important to differentiate yourself, especially when you’re competing with agents who have already made inroads into the high-end market. -Bob Hurwitz

Takeaways + Tactics

• Most properties fail to sell in their first iteration, which presents an opportunity for smart agents.
• Use marketing to create a sense of urgency.
• If you market properties in an intelligent way you’re going to get buyers coming to you directly.

The difference between a home selling and a home languishing on the market is heavily reliant on the skill of the agent. It’s important to market and communicate well, and differentiate yourself from the pack. The secret with luxury and high-end listings is that “first doesn’t always mean best”. When properties don’t sell in their first iteration, that’s the time for you to step in and make it sell. Have the guts to step into the batter’s box!

Guest Bio

Bob has been a real estate broker and consultant for over 25 years, and he is the founder & CEO of Hurwitz James Company, established in 1986 and specializing in the marketing and sale of multi-million dollar estates and luxury residential developments worldwide. He is regularly featured on Extra, NBC Open House, Mansions and Millionaires and HGTV’s Million Dollar Room, as a top Realtor in Los Angeles dealing with high-profile properties and clients. Go to http://www.hurwitzjamesco.com/agents/ or https://www.linkedin.com/in/bob-hurwitz-9197486/. To get in touch, call or email 310-477-8865 bob@thehjc.com.

The Power of Confidence and Preparation in Winning Luxury Listings w/Craig Hogan

Luxury clients are looking for an agent who can go the extra mile. What characteristics will make you stand out to get that client? How do you make sure you’re putting your best foot forward? Why is coaching so important? On this episode, Coldwell Banker Vice President Craig Hogan, shares his best advice and strategies for winning luxury listings.

 Coming in as a trusted advisor with confidence but no ego makes you a far better pick than someone who comes in like a bull in a china closet. -Craig Hogan

Takeaways + Tactics

• If you can’t do a presentation in front of a lot of people and argue for your commission, you need to shift gears towards that.
  
• If you can’t tell the difference between a 300k and a 100k kitchen, then you probably have a problem.
  
• A lot of the job is preparing for show time.

At the start of the show, we talked about Craig’s background and the importance of differentiating yourself when it comes to marketing your luxury listings. Next, we talked about the importance of getting your skills up to scratch, and the importance of being knowledgeable when it comes to condition, appearance and finish. Towards the end of the show, we talked about the importance of being a trusted advisor.

Craig also shared on:

• The importance of coaching and skill set
• Why you need to focus on focus on being better
• The power of humility

The luxury client is expecting to see someone who is at the top of their game. They are expecting to see a polished, professional who within minutes they feel like they want to list with. All this comes from confidence and preparation, and always being ready for show time. That comes from confidence and preparation. The more we produce and the higher we get in real estate staying humble and real is an attractive quality.

Guest Bio
Craig is the Vice President of Luxury at Coldwell Banker Real Estate LLC. Go to https://www.coldwellbanker.com/ for more information.

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.

Creative Financing in Luxury Real Estate w/Frank Aazami

High end and luxury markets are usually buyer’s markets, so tactics like creative financing come in handy. How can you use the power of creative owner financing to help your clients? How can asset management play a valuable role in luxury real estate, and how do you make sure you’re an asset to your clients? On this episode, luxury agent Frank Aazami shares his keys to success.

Once you become an expense and not an asset for a client, you’re worthless. -Frank Aazami

Takeaways + Tactics

• Auctions bring attention and momentum to a property. All sales are based on momentum.
• Build your expertise in creative financing - instead of the bank being the lender, the seller is the lender.
• Find your leading edge - a unique way you bring value to your clients.

At the start of the show, Frank shared how his company marries deals and leverages other assets his clients have. He also explained his creative marketing methods and how the seller can become the lender. Next, we talked about elevating your game and getting more market share.

Frank also shared on:

• How to create urgency in a buyer’s market
• Momentum and real estate
• Creative financing in upper level high end homes

The hardest thing is to get up in the morning, dress up like a professional, know what you’re doing, know the inventory and connect with people that are agents in other markets. What truly makes a different is giving yourself a leading edge. Luxury markets usually have a high amount of inventory, so creative financing is one way to give homes more appeal. This can elevate your game and get you more market share.

Guest Bio

Frank Aazami, along with his distinguished entrepreneurship Private Client Group, has proven the ability to plan, negotiate and manage clients' Real Estate invested assets.  Frank's background includes marketing a Top 40 Radio Station, developing a successful fast food franchise concept, owning a handful of retail stores and selling over 20 franchisees. He invested, developed and managed a portfolio of mix-use and multifamily holdings for close to 10 years before practicing as a Realtor at Russ Lyon Sotheby's International Realty. To get in touch, call 480-266-0240 or frank@pcgagents.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.