Luxury Real Estate F.A.Q's: How Do I Break Into Luxury Real Estate?#3

This post is Part 3 on the subject of FAQ's, how to break into Luxury Real Estate. The subject is MONEY.  Be prepared to invest your marketing dollars wisely.  Don't be cheap.  It is OK to be wise, which is different than being cheap.  To a luxury buyer or seller, cheap is a REPELLENT.

Many think that what they immediately need to invest in is a luxury car and a premier designer wardrobe.  That in our opinion is thinking you can dance with the American Ballet Theatre, because you bought an expensive wardrobe of tutus and toe shoes.  

Here is where you should be investing your dollars, which is different than buying or leasing a car, or buying a wardrobe, which will be out of date next season.

Your first approach should be to develop a strategy of HOW to get your target market to know you exist.

Secondly, you have to know your competition, and how you have something of value to offer that they are not offering.  Don't get caught up in the trap of competing on features or qualities, such as integrity, experience, certifications...anyone can get certified and should have integrity to be in the business in the first place.

Finally, identify what is different and FRESH about you...That is your unique selling proposition.  Identify what you stand for, who you are as a business person/or company based on your core values, and create a graphic representation based on that.  Make sure you stand out from everyone out there!  These three steps represent a long-term investment.

One of our clients decided fresh out of getting her license that she wanted to break into to the luxury real estate market. She had made several real estate investments that paid off for her.  She also had business experience in launching a line of clothing, which she sold. Given her experience she was well versed in the language of luxury.

Her first investment was to develop her brand strategy and brand identity.  Secondly, she had a friend who had two luxury cars, and was willing to let her use his spare car as long as she paid the insurance on it. Thirdly, she studied fashion, talked to personal shoppers at the best stores who were willing to let her know when something was on sale.  

In six months of consistently applying her strategy, she earned enough commission income to be able to buy a  home in her preferred community, and the car she always wanted.  After an excellent run, she retired in splendor.

Written by Ron & Alexandra Seigel-

ABOUT:  Napa Consultants, International is the leader in brand strategy for the luxury real estate industry.  They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace. 

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Marketing Luxury Real Estate: Levitating for Euros or Selling a Dream?

Taking a walk after an excellent lunch near the Trevi Fountain, we came upon this levitating meditating duo...And they had a basket where the believers could drop their Euro donations, and they did!  

As Ron was explaing the trick to me, another gentleman was explainng in Italian to his little girl how this worked.  I was translating it to Ron.  

Can you figure it out?  Sometimes, marketing luxury real estate is selling the dream, it takes a little magic!

Written by Ron & Alexandra Seigel-

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Luxury Real Estate Marketing Tip: Why Google Keeps Changing Its Algorithms

This week, we were reviewing the Google ranking of a luxury real estate marketing professional who is the top producing agent in her marketplace, but ranks 7^th in natural search results on her primary keyword phrase.  Of the two agents who were ranked higher on the same page, one sold just a single property over the last 12 months and the other did not sell even a single property!

Are consumers being served by placing mediocre agents ahead of market leaders?  Google doesn’t think so.  That is why they are constantly trying to fine-tune their algorithms to achieve more satisfying results.

In the context of finding qualified local service professionals on the Internet, Google’s ideal job is simply to match the consumer’s search query with the most authoritative experts in a given marketplace.  For Google, customer satisfaction with this “matchmaking” service is paramount because they are able to place revenue-generating ads on these popular pages.

Prior to the Internet and search engines, it was statistically proven that whoever got the first buyer or seller call had the best chance of winning the business.  While this may still be true with telephone contact, we question that it is true online when it comes to search engine ranking, especially in luxury real estate marketing.  One glance at a cluttered site that is difficult to navigate can send a web visitor back to the search result page in a single click.

In another instance one of our local business organizations was looking for a speaker on social media.  They hired the #1 ranked “authority” on Google to speak and the group was horrified by the presentation. It was obvious to every businessperson in attendance that this guy barely knew what he was talking about.  When confronted his response was, “I know how to rank #1”.

In addition to strong basic SEO architectural structure on your site itself, Google is looking for current, fresh, relevant, authoritative, ORIGINAL CONTENT more so now than ever.  And, they are adjusting their algorithms accordingly. 

Consistently publishing and distributing new content (through social media channels) via your blog is the best vehicle to achieve this. Getting other authoritative websites to establish links to your newsworthy, follow worthy, original content is also very helpful.  But, the days of just publishing unoriginal content, that has even become boring to the Google robots, is over! 

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Luxury Real Estate Marketing: New Trends in the Brand Naming Game

All Saints Store in Santa Monica

In luxury real estate marketing, it is of paramount importance to come up with the right name for your business.  One of the traditional rules of branding has been to keep a name short because they are easy to remember, and easy to spell!  As the new century dawned the rules have been challenged and some of the new the names became descriptive of their mission statement, their marketplace or who they are. 

Some of the pioneers in the longer version name game can be found in the fashion industry.  Here are some of our favorite brand names and the story behind them.

Not Your Daughter’s Jeans:  This is a brand of women’s clothing including chic jeans designed to flatter every woman’s figure.

Citizens of Humanity:  This is a Luxury Denim & Apparel for Women & Men.  A portion of proceeds are given charity.

Band of Outsiders:  This is a clothing company for “geek chic”, hence outsiders.

All Saints Spittafield:  This is a manufacturer and retailer of quality garments. Their stores are decorated with assorted antique sewing machines. All Saints donates to “Not For Sale” a worldwide movement to stop human trafficking.

Rag & Bones: Fashion for men and women, the name is a British phrase for junk dealers of old with a pushcart who bought and sold and recycled discarded items.

Is it time for you to play the brand naming game?

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Luxury Real Estate Marketing: Notes from Scottsdale/Success in the “New Normal”

Yesterday, I (Alexandra) had the privilege of attending and speaking at the 5^th annual AFIRE conference held in Scottsdale Arizona.  This conference brings together a group of real estate’s leading women to create a three day networking experience. It covers “the latest in technology, hot issues that will influence us now and in the future, what’s happening on the international scene, strategies for working across generations, and most importantly, how to create and maintain a positive attitude. (2011 program notes).”  This event was created by Bernice Ross, Ph.D. and CEO, Author, Trainer, and Speaker. Bernice is also a nationally syndicated columnist for Inman News who dubbed her "America's top real estate coach."

Given our schedule, I was only able to attend the first day, and it was packed with outstanding information.  I took copious notes and will be sharing my impressions and introduce you to some of the most interesting and brightest women in our industry, in the next few weeks.  The overall message is that although the real estate industry has experienced its share of chaos and uncertainty what has emerged is a new real estate “normal”.  Succeeding in these times means having a niche, being fluent and savvy on line and offline in marketing luxury real estate, giving outstanding service and being well known, well thought of and visible in your community offline. 

I want to thank Toni Weidman, Kathy Schowe, and Norma Toering who were generous in giving me the opportunity to talk to them.  I interviewed these Active Rain members, so that I could give the women at AFIRE the perspective of successful, blogging, community minded real estate agents that embody the "new normal".

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Luxury Real Estate Marketing Tip: The Closing Gift that Keeps Giving

Sterling Silver Roses

The most important aspect of gift giving as a luxury real estate marketing professional is understanding who your client is. l In conversing with anyone, it is easy to listen for the clues of things they like:hobbies they are involved in or ideas they are passionate about.  These listening moments are a guarantee to finding the perfect gift that keeps giving.

When we were active in commercial real estate on the Westside of Los Angeles, many of our clients were avid gardeners.  The majority of them loved roses growing in their gardens.  Our gift to them was a selection of the newest species of roses from Jackson Perkins.  This year, they have 6 new varieties including a wonderful purple rose called Cabernet Sauvignon, as well as its companion rose, Chardonnay.  They usually ship them in bareroot form this time of the year.  As the ground warms up you can have them shipped in pots.

On our monthly journey to Los Angeles, we ocasionally see these clients/friends and they will inevitably bring up the subject of the roses we have given them.  They remark how they always think of us, when they cut them and bring them in to their home or place of business.  They will comment on the exceptional quality and quantity of the blooms, etc.

We always made a point of discovering our clients personal preferences, so that we could send a gift that would say we understood who they are, and that alone reminded them of us.  Our coffee experts were sent an annual subscription to some of the world's rarest coffees, and the same for the tea drinkers.

If you give someone what they really are interested in, you are a great gift giver.  A great gift comes from listening to another person, and making a note under their name in your records.  It is so much fun to see someone's smile, and say" Thanks, this is one the best gifts, I have ever received."



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 Buzz-Worthy Luxury Real Estate Websites 

Personal Branding Case Studies   Company Branding Case Studies 

About Language of Luxury

- JOIN THE LOL COMMUNTIY - 

 GET FLUENT. GET AFFLUENT! 

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Follow Us on Twitter: LuxuryMarketing