Luxury Listing Specialist - Dominate High End Listings In Any Market

The luxury client is the most demanding of all the client segments, and this can intimidate agents. How does boosting our competence actually contribute to our confidence? What are the 4 agent archetypes, and how can each one maximize their strengths? How does trust fit into how well we convert? On this episode, the president of the Brokerage Consulting Division at T3 Sixty, Dean Cottrill, shares the secret to success in luxury real estate, even for a new agent.

If new professionals can increase their competence, knowledge, and skills, that brings the confidence. -Dean Cottrill

Takeaways + Tactics

To Learn More About The 4 Agent Archetypes, Click HERE.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

At the start of the show, Dean shared on the work T3 Sixty does and how good leaders want to simplify real estate for their people. Next, Dean broke down the 4 different types of agents and he also talked about why confidence and competence are so important. We also spoke about the importance of relying on data and market insights and not our own opinions or the opinions of our clients.

We also discussed:

Luxury clients are used to a high level of service and support. If we want to appeal to them, we need to have a high level of confidence backed up by actual competence and knowledge. We have to create systems that allow us to duplicate our performance without reinventing the wheel. This results in more business, more referrals, and more confidence to know we can do a high level of business. That’s ultimately what separates top level agents from the rest.

Guest Bio

Dean is president of T3 Sixty’s Brokerage Consulting Division. In addition to helping brokers and their companies reach higher levels of success and profitability, he also leads the T3 Fellows program. He has over 20 years of hands-on leadership experience and has held several senior-level positions with real estate brokerage organizations including Long & Foster, Weichert Realtors and Coldwell Banker Residential Brokerage (NRT), where he spent the last 10 years of his career. Go to https://www.t360.com/ for more information.

The momentum in our business can often be attributed to how many contacts we’re making. What must we do to build and maintain high value relationships? How do we differentiate ourselves when the market is crowded and the competition is so high? set ourselves apart? On this episode real estate industry legend, Saul Klein, talks about why contacts are the key to our success in business.

One of the ways you build trust and confidence is by demonstrating expertise.

-Saul Klein

Takeaways + Tactics

If we want to work smarter, attract luxury clients, and increase the average sale price of the homes we represent, we have to prioritize the conversations we’re having, the relationships we’re building and the ways in which we’re engaging. Even though it doesn’t happen overnight, anytime we build a relationship we are creating opportunities and setting ourselves up for business down the line.

Guest Bio

Saul Klein is widely recognized as the real estate industry’s first Internet Evangelist. He was selected by the National Association Of REALTORS® as one of the “25 Most Influential People in the Real Estate Industry” in 2003, and has been selected as one of the “100 Most Influential Real Estate People” by Inman News. Go to http://www.thedataadvocate.com/ for more information.

Video is one of the most engaging ways to create content. Plus, since our audience can see us, the level of trust we build is higher. How is creating video content for social media platforms different from what we see on television? What equipment do we need? Most importantly, what kinds of topics should we cover to attract as many viewers as possible? In this episode, Sue "Pinky" Benson talks about how she generates leads and builds trust in a highly competitive market by using video.

Answering common questions for video content are easy, ‘low-hanging fruit’. -Sue “Pinky” Benson

In the beginning of the episode, we talked about how agents should present themselves on camera and why we don’t have to emulate the people we see on television. Next, we talked about the importance of figuring out what audience we want to reach and how this will decide the type of content we create.

We also shared insights on:

Video marketing is all about building trust and showing our audience that we have the answers to their questions. What helps our message truly get through the screen is speaking the language of our audience. The demographic of our ideal client is what determines the tone, language used, and content delivery.

Guest bio

Sue "Pinky" Benson is a real estate video influencer, speaker, and real estate agent in Naples, Florida.

She was featured on National Association of Realtors Magazine and Florida Realtor Magazine and has been recognized by major publications as a video marketing expert across North America.

She currently manages Pinky knowns Naples, and you get in touch with her on her Facebook account.

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

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:

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.

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:

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. 

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.