Luxury Listing Specialist - Dominate High End Listings In Any Market

Save The Date!  Our next live virtual online Luxury Designation Training will be on March 17th.

All the details can be found at:  www.LuxuryDesignation.com

One of the most important qualifications of a real estate agent is their ability to negotiate effectively. What makes an agent a skillful negotiator is understanding the negotiating process and being able to navigate through the multiple issues that a real estate transaction entails. It’s the number one skill clients look for. And it's not just a business skill, it's a life skill.

If you want to become a better negotiator, this episode is for you. I have some great discussions with the founder of The Certified Negotiation Expert (CNE) and founder of The Real Estate Negotiation Institute (The RENI), Tom Hayman.

He has over 15 years of experience as an agent and negotiation trainer. He’s got some practical strategies on how to handle real estate negotiations that will help you close the deal.

To find out more about becoming a CNE, visit https://www.thereni.com 

“Having excellent negotiating skills is vital. And it’s one of those skills that doesn't always show up in your bio or listing book. You need to be able to differentiate yourself from the competition.”  -Michael LaFido

The Exchange Persuasion Principle: 

3 Skills for Agent Success: 

Guest Bio: 

Additional Resources:

Max Avenue website - https://www.maxavenue.com/

The Speed of Trust by Stephen M. R. Covey 

Not all contacts in your database are created equal. Certain clients and contacts require more touches, and others require less. That’s why it’s so important to segment your list. I use the “A, B, C” method that prioritizes my best clients. Listen now to learn more about how to properly segment your list.  

Whether you’re new to the real estate industry or you’re an experienced agent, you already understand the power of association and networking. Meeting new faces and talking about your business to others is not only essential for success, but also for getting referrals.

However, this can be challenging due to Covid- 19 restrictions, so we have to think outside the box. Real estate is a people business. But what’s equally vital to association and networking, is the power of having global connections.

I’m so thrilled to have James Huang as my guest! He’s the President of The Asian Real Estate Association of America (AREAA). James is a true innovator in commercial real estate and has held leadership roles in some of the most well-known commercial firms in the US. He has over 20 years of experience in the field.

One of the great things about AREEA is it's open to everyone - new and experienced agents. You don’t need to be Asian to join. It’s a wealth of knowledge for anyone who wants to learn and have a better understanding of the Asian community.

To find out more or join AREAA, visit https://areaa.org/

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series. 

📢  Save The Date! March 17th will be our next Live Virtual Designation Training.

Visit http://www.LuxuryDesignation.com for more information. 🍀

“The world is getting smaller with the internet and social media. You really need to be well connected, not just locally, but globally.”  -Michael LaFido

Three Things You’ll Learn In This Episode

Upgrade your skills, be a lifelong learner:

Never stop learning about real estate. When you upgrade your skills, even if you have a specialty or an expertise… it helps you become more open-minded when you study different practices. It also makes you more knowledgeable and you’ll be more valuable to your connections and relationships.

Keep networking and connecting with people… not just locally, but globally. Whether you work in luxury residential, commercial, or international - you all deal with the same clients. In fact, I think it’s safe to say that nearly all businesses are connected in some way to real estate. So, when things with Covid get better (and it will get better), you’ll be prepared.

The power of joining associations:

Remember, you don’t need to be Asian to join AREAA. You don't need to be Hispanic to join the National Association for Hispanic Real Estate Professionals (NAHREP), be African American to join NAREB, or LGBTQ to be a member of the LGBTQ+ Real Estate Alliance. By becoming members of these associations, we can become allies and bring awareness to their mission. 

Guest Bio-

James Huang has been the national president of AREAA since October 2019. He’s also the president of eXp Commercial division of eXp World Holdings. Additionally, James is a shareholder and an advisor to real estate syndications firms and start-up technology companies to help consult, raise capital, and make connections to other private equity investors and family offices from Main Street to Wall Street. 

To find out more or join AREAA, visit  https://areaa.org/

What is a CLUE report and how can it help both your buyer and seller clients? CLUE stands for “Comprehensive Loss Underwriting Exchange,” and it’s how most insurance companies submit their claim history. If someone’s buying a home and wants to know what kind of insurance claims are a part of that home’s recent history, that’s what the CLUE report provides.  

The LGBTQ movement has come a long way. But as the nation continues to confront discrimination of all kinds, there's still a lot of work to be done... and housing equality is no exception. 

With that said, it's such an honor to have John Thorpe with us. John's been in real estate since 1999. He's also the Inaugural President of the LGBTQ+ Real Estate Alliance (The Alliance). The Alliance was founded in October and in just three months, has grown to over 500 members and over 50 chapters in the US including Puerto Rico.

The Alliance is a non-profit organization dedicated to enhancing the professional lives of its members while providing consumers with the proper resources to assist in buying, selling, and enjoying their home. 

And it's not just for the LGBTQ population, it's a resource for anyone who needs advice, advocacy, education, or networking. To find out more information about The Alliance, visit https://realestatealliance.org/. There’s no cost to join. 

"Educate yourself, get different perspectives. It will make you more understanding and empathetic. We're all human beings."  -Michael LaFido

Three Things You'll Learn In This Episode

The data is limited: 

The difference between the code of ethics and federal law: 

Guest Bio-

John Thorpe is the Inaugural President of the LGBTQ+ Real Estate Alliance. He’s been working in real estate since 1999. For the past 7 years, he’s been with Better Homes and Gardens Real Estate as the Regional Vice President - Membership Development - Franchise Sales/Business Consulting. John lives in Fort Lauderdale, Florida with his husband of 17 years.

To find out more about John, visit The Alliance website:

Do you know how to get the attention and impress the builders and developers in your area? Today I’ll tell you what you need to know to start bringing value and eventually start doing business with these potential clients. First, you need to know that nothing happens overnight, so you will need to play the long game. With them, it’s a marathon, not a sprint. Remember, they primarily care about "What's in for me?" They’re a long-term investment of your time and energy, so you have to stay in touch and bring value to them for many years potentially. Have a listen to learn more! 

2020 was a year unlike any other. But even with the challenges brought by the pandemic, the luxury real estate market has remained resilient and is strong in many markets.

So what are the best practices that have helped top agents and industry leaders pivot and thrive during this period? What do top coaches recommend in order to bring value to clients? 

In this episode, I had the pleasure of speaking with Monica Reynolds, VP of MAPS Coaching at Keller Williams. Having coached more real estate professionals than anyone else in the country, Monica is an industry trailblazer. She played an active role in helping Keller Williams pivot and grow their business during the pandemic.

There’s a lot to unpack in this episode. So, grab a pen and notepad (and maybe a cup of coffee), and let’s dive into Monica’s many valuable pointers and inspiring stories for finding success during these uncertain times.

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series.

"There’s so much opportunity with luxury right now... Instead of being scared, be aware of what’s happening and look towards the future." -Monica Reynolds

Three Things You’ll Learn In This Episode:

The importance of going digital:

One of the most mentioned technologies seeing widespread use is also one of the simplest: the Zoom call. It’s ideal for busy luxury clients who are looking for a fast, easy, and effective way to communicate- but don’t forget to look your best and have a professional background when using the platform.

The best strategies for agents who want to break into the luxury market:

Agents need to understand that entering luxury is a process, not something that happens right away. There’s no easy button, so it’s best to network, put yourself out there, and work with a team that knows the luxury market inside and out. 

It’s essential to keep searching for opportunities to bring value to clients:

Agents can bring value to clients just by knowing what’s going on in the market, their community, and what the future might look like. Be "the expert" of information to your clients.

Guest Bio-

Monica Reynolds has been in real estate for 40 years. She is regarded in the industry as the leader of innovative real estate systems and effective team-building strategies that sustain successful real estate careers. Monica has dedicated her career to teaching and coaching agents and assistants in the real estate industry. She pioneered the hiring of administrative assistants and building professional team structures along with replicable and scalable systems.

You can contact Monica at:

[email protected]

Today’s video is all about state and local taxes (SALT). As you may know, there’s a $10,000 cap per household (not per person) on what homeowners can write off when filing their income taxes. State and local taxes have been impacting luxury home sales the most, but have also affected resale of all price points—particularly in states with higher property taxes. This is why it’s so important that you understand SALT and are able to articulate its impact to seller clients.

As the new year approaches, we have to start thinking about what we can do to move our industry forward, and one of the best ways to do that is by creating a more inclusive environment.

Everyone deserves to feel welcome in real estate, and we all have a role to play in fostering greater diversity in the business. The only problem is, many of us just don’t know where to begin. 

How can we make more space for people of color in our industry? What can we do to ensure everyone gets a seat at the table?

In this episode, National Associations Of Real Estate Brokers (NAREB) Western Regional Vice-President, Shanta Patton shares the steps we can take to build a more diverse real estate industry. To find out more about NAREB visit: http://www.NAREB.com 

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series.

"We’ve still got a long way to go, but by building up everyone in the business, we can raise the bar." -Michael LaFido

Three Things You’ll Learn In This Episode:

The importance of joining minority associations: 

We don’t need to be Asian to join the Asian Real Estate Association of America (AREAA), Hispanic to join the National Association for Hispanic Real Estate Professionals (NAHREP), or Black to join NAREB. However, by becoming members of these associations, we can become allies and bring awareness to their missions.

Why we need to seek first to understand: 

It’s not always easy talking about race, and that’s why we need to approach conversations about it with the intention of understanding. We don’t need first-hand experience to listen and be empathetic.

How to gain a greater understanding of the people in our business: 

It can be tough relating to people with different backgrounds to our own, and that’s why it’s so important to be open to having conversations. Simply asking people about their experiences is the first step to bridging the gap.

Guest Bio:

Shanta Patton is a regional Vice President at the National Association of Real Estate Brokers (NAREB). Passionate about everything the association stands for, she also serves as the National Education Chair for NAREB. Shanta is also a Nevada Realtors Director and serves as the Diversity and Inclusion Chair. In addition to serving her community in whatever way she can, Shanta is also a Las Vegas real estate expert at ERA Brokers Consolidated.

To find out more about Shanta, visit:

https://www.era.com/ERA-Brokers-Consolidated-387c/Shanta-Patton-5123007a 

https://www.linkedin.com/in/shantapatton

And for more about NAREB and their initiatives, go to:

https://www.nareb.com/nareb8/

https://housethenthecar.com/ 

Other associations mentioned in this episode:

AREAA- https://areaa.org/

If you’re taking on a listing that far exceeds the price points you’re used to, maybe your first luxury listing appointment—it’s only natural that you’ll have some nerves to overcome and questions to ask. Today I’m sharing what you should and shouldn’t do if you want to position yourself better than the competition and snag that "trophy listing". Kirk is an eXp agent in Louisiana who had invested in our LUXE designation, and I recently coached him on how to handle his first big listing; some of the insights I shared personally with him are what you’ll hear today.