Luxury Listing Specialist - Dominate High End Listings In Any Market

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:

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/

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:

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

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

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:

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.

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

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:

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

Sign up for a FREE Kingston Lane account on us, and use the tools to leverage and grow your business: www.kingstonlane.com 

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

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 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.

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

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:

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.

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

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:

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.

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

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:

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.

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

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:

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/.

In a busy market, it can be tempting to list a luxury home on the market without properly positioning or restoring it. Why does this usually lead to the home sitting on the market for a long period of time? How do luxury listings create high leverage opportunities? On this episode, we are joined by co-founder of eXp Realty, Brian Culhane, to discuss how we worked with Brian to increase his chances of selling his new $6.5m trophy luxury listing quickly.

"The student has to seek out the master.” - Brian Culhane, Co-Founder of eXp Realty

Takeaways + Tactics

Treat a dated luxury listing like a painting restoration.

Listen to the clients. They’ll tell you everything you need to know if you ask the right questions.

If you’re a lower producing agent, small office, unique or don’t have a proven track record: learn from the best.

Listings are an opportunity to get other listings, but also to meet other influential high net worth people.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

At the start, Brian shared on the factors that are contributing to eXp’s growth. Next, we discussed the importance of considering restoration work for a house and how luxury listings can actually be opportunities for networking with other high-end professionals. We then talked about the importance of coaching.

We also discussed:

First impressions are so important when marketing luxury homes. Never underestimate the power of putting some work into a home before you list it. It could be difference between it selling immediately or it languishing on the market for months or even years. Don’t be tempted to throw a home on the MLS. A little extra time and effort can earn the sellers more money. When you’re in a buyer’s market and you represent the seller, get them onboard and be willing to do the things the competition won’t do to position their home for a successful sale.

Guest Bio

Brian Culhane is the Co-Founder of eXp Realty. He has been one of the driving forces behind eXp's rapid growth and expansion into 45 states, 100 MLS regions and in Canada. To get in touch, email [email protected].