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Luxury Real Estate Marketing Tips

Luxury Real Estate Marketing Essentials: What is the Luxury Buyer Looking For in 2009?

Luxury buyers are still alive and well. Here is a capsule of the new spending habits of high net worth individuals. Luxury real estate marketing professionals take heed!

Exclusivity. The desire to have something better and less known to the mass audience remains strong. New niche labels can prosper in these circumstances, such as limited editions or homes with extraordinary architectural features.

Quality, Dependability and Authenticity. The 2009 consumer will want to know the provenance of the goods they are buying. They will want the manufacturer to stand by the product and take care of it, if something goes wrong. Social and environmental responsibility is an important key in the purchase making decision. If it’s “green”, they will part with their green bucks. In the days of “shop till you drop”, consumers were fascinated by novelty. Now they want the “real”, the authentic. They are no longer interested in high end reproductions or anything with “faux” in front of it. Along with authenticity is transparency. How someone does business, their ethics, has become an important part of the process.

Translating this to luxury real estate marketing is simple.

  1. Refresh your brand. Make sure your website and all your materials have the look and feel of luxury, and do not look like everyone else’s site. Remember they are looking for the exclusive feel.
  2. Make sure you demonstrate your transparency in terms of your customer relationship management. Your word MUST BE your bond. Go out of your way to provide excellent service. This makes you easy to refer via word-of-mouth advertising.
  3. Describe your listings by emphasizing the quality and the durability of the home’s appliances and finishes. Make sure that those finishes are the “real” thing. If they aren’t, point it out. If you are not sure, find out. This furthers your authenticity and your transparency.

In the long run remember. “A calm sea does not produce a skilled sailor. We cannot direct the wind, but we can adjust the sails. Anyone can hold the helm when the sea is calm.” Tom Culve

Luxury real estate marketing professionals: Happy Sailing and Selling in 2009!

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Luxury Real Estate Marketing Essentials: The Video Phenomena

 

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Video communication is here to stay.

  • 13 hours of content is uploaded to You Tube every minute of every day
  • Downloading Internet videos from events such as the Olympics and political conventions caused some host sites to crash due to unexpected demand
  • The continued growth of video over the Internet will increase the debate for mass internet access
  • President-elect Obama regularly broadcasts a 4 minute long video as his way staying in touch with Americans and the world at large

What is happening is that online communication is the new mode of community. It is easy to upload a video and it is easy to send someone a link to the video. Furthermore, in four minutes you can easily get a message across.

As a luxury real estate marketing professional you can use a video to differentiate yourself from everyone else. For instance, you can record your blogs rather than write them. You can have videos of your listings, and also a video bio. There is no end to what can be done with video. It is an opportunity to communicate with your clients in a personal way.

Here is a creative example. Check out the YouTube Symphony, dubbed ”the world’s first collaborative online orchestra”. All you have to do is submit a video performance (any instrument, amateur and musicians of all ages) of a piece of music written by Chinese composer Tan Dun. The winning performer will be chosen to play in Carnegie hall under the direction of Michael Tilson Thomas.

Of course, in the field of luxury the quality of the video is important. You want to represent your brand as a luxury brand, and you want to make sure that the player on your site is compatible with the most number of browsers in current use. That way everyone has easy access to viewing your message.

Remember less is more. Don’t bore; inform and entertain.

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Luxury Real Estate Marketing Essentials - Are You Wiki Savvy?

In 2008 RealSure, a company that offers real estate consulting and publishing services launched a real estate wiki, or industry-focused user-generated encyclopedia and dictionary, at RealEstateWiki.com. It is an excellent resource for real estate agents, brokers, other industry professionals, investors, buyer and sellers alike.

What is exciting about the Real Estate Wiki is that anyone can contribute real estate related information. Their goal is to create one of the best real estate resources out there for everyone involved in the real estate industry. All luxury real estate marketing professionals who seek market leadershipship in their niche or local marketplace should have a professional profile on Real Estate Wiki.

DJ Swanepoel, is the volunteer manager of Real Estate Wiki which is a non-profit and privately funded organization. He believes in “making general real estate information more freely available to everyone”. DJ feels that, “No one should struggle to find the definition of a term, the correct meaning of an acronym or abbreviation, to be able to get a real estate question answered or even waste time finding the contact details of real estate service provider, broker or agent”.

The site has no advertising - no banner ads, no pop ups. This is a commercial free, user friendly environment. Anyone can view and use the Wiki without registering.

Please join us, and other real estate professionals who want to make the real estate industry a better place, on DJ’s Real Estate Wiki Group at Broker Agent Social.

 

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

Luxury Real Estate Branding: Personal Branding Goes International

It is no longer enough for luxury real marketing professionals to create local personal brand. Becoming well know to foreign buyers is now a necessity. Think INTERNATIONAL! You not only need to be the stand-out in your marketplace to consumers, you also need to become the best known local professional to other agents in 50 states and around the world.

Watch for our series on the best ways tp build an international personal brand and also a global referral network of agents in other countries.

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

Luxury Real Estate Branding: Getting Started in Niche Marketing

Luxury real estate marketing professionals frequently ask us the followy question. We hope this is of help to you as well.

How do I get started in marketing to this niche?

First, pick a niche:

  1. Castles, mansions & ultra-luxurious trophy estates
  2. Golf properties
  3. Eco luxury
  4. Ski properties
  5. Ocean waterfront properties
  6. Historical properties
  7. Downtown Condos & lofts
  8. Lakefront properties
  9. Luxury Investment Properties

Then...

  1. Identify the movers and shakers within the niche and find a way to meet them.
  2. Create a website that demonstrates that you are a specialist in this niche. Narrow the search criteria on the site so that is it easy to just search for properties within the niche.
  3. Provide extensive information about the niche, via blogging and articles
  4. Find out what is needed and wanted by asking home owners in this niche how you can help in the community or by offering some information or service apart from just selling homes (e.g., start an online community calendar and promote it to homeowners via postcards).
  5. Create your personal brand around your niche. Become synonymous with the niche (e.g., The Waterfront Properties Expert)

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

Luxury Real Estate Branding: Find Your Niche

For luxury real estate marketing professionals, the easiest way to become the market leader is to select a niche within your marketplace and become the expert in that niche. A niche is a category or a sub-category in which you can specialize. The first step in niche marketing is selecting a niche.

What Are the Major Niches In the Luxury Real Estate Realm?

  1. Castles, mansions & ultra-luxurious trophy estates
  2. Golf properties
  3. Eco luxury
  4. Ski properties
  5. Ocean waterfront properties
  6. Historical properties
  7. Downtown Condos & lofts
  8. Lakefront properties

How Do I Select the Right Niche?

Here are five guidelines for selecting the right niche:

  1. Select a niche in which you are personally interested, ideally passionate about.
  2. Select a niche that no one is currently dominating or is not doing a very good job
  3. Select a niche that you can represent better than anyone else in your marketplace
  4. Select a niche where the properties are selling and the prices are substantial so that your commissions are significant
  5. Select a niche where you can easily identify the major opinion leaders, community leaders and also vendors who are also interested in acquiring these home owners (and buyers) as customers/clients.

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

 

Luxury Real Estate Branding: Be the Category Killer

One of the very best ways to achieve market leadership as a luxury real estate markeing professional is to discover a niche in your marketplace that you can dominate. A niche is a category or sub-category of the entire market like waterfront properties, equestrian properties, high-rise condos, etc. The whole idea is to become establish your personal brand as the "category killer" in that niche.

An example of a category killer is iPod in the MP3 category of electronic devises that play music. In online auctions, eBay is the category killer. Yahoo, number 2 in auctions had to concede to eBay in all markets across the globe except Japan where eBay bowed out (for now).

In the entertainment field Terry Fator is the category killer for ventriloquism. He is so dominant in his category because he offers extraordinary entertainment value and no one else has a chance to reach is level of celebrity. He just secured a $100 Million contract in Las Vegas for his show. Check out the video and you will see why he is the best in his niche, the category killer.

In which niche can you become the category killer?

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

Luxury Real Estate Marketing Essentials: Is Luxury Out of Style?

1957 Mercedes Cabriolet

Luxury real estate marketing professionals need to stay abreast of current etiquette when conversing with high net worth clients. Economic conditions tend to affect the degree of conspicuous or inconspicuous consumption. But, is flaunting one's wealth ever in style?

To quote 12/25/08, Minneapolis-Saint Paul, Star and Tribune article titled New Recessionary Etiquette: Luxury Shame?

"Across office suites, dinner parties and foundation boardrooms, inconspicuous consumption is the new recessionary etiquette. To do otherwise at a time when neighbors and family members are getting pink-slipped is considered simply poor taste. The tokens of success -- a Cartier timepiece, Christian Louboutin shoes -- are being worn more discreetly, or not at all."

Given the current economic conditions and the propensity of the media and talking heads to point out the downfall of the luxury retail market this holiday season, the following question comes to mind: Is luxury itself out of style?

The answer is NO. The essence of luxury is an object or a service that is well made/well done. Again the governing concept of an item is that is of exceptional craftsmanship which implies its long lasting value. A great service implies that you will return for that great service over and over again because it is worth it. The very well to do populace is not the only ones who buy luxury. There are quite a few people who may buy an item because of its "superior quality or performance." They understand that because it is a superior product, its longevity will make the purchase an economically sound decision.

Thomas Chippendale chairThere are people who will drive their Mercedes for 20-30 years. Divide the original purchase price by the number of years, and you will discover that given the performance and the lasting quality with which the vehicle is built, it is a bargain. In addition the resale value is higher, and if the model is sought after by collectors, it resale can be astronomically more than its original purchase price. A well made piece of furniture last lifetimes and is often passed from generation to generation. An authentic Chippendale is worth a fortune on today's market. With falling prices on many durable luxury items, those in the know are purchasing them.

The same could not be said about some luxury purchases. If one were to purchase a pair of satin Christian Louboutin shoes for $1500, the chances of those shoes surviving into the next century are not so great, even though they are well made and well crafted. The intention here is not to condemn the purchase but to illustrate the concept of long term luxury. It is possible that the wearer may be so careful as to avoid every possible scuff and not damage them at all and hand them off to a granddaughter with the same exact shoe size at some point in time!

What is out of style and what has always been out of style is in your face luxury i.e. bragging about and flaunting recent purchases. Etiquette is a lifelong pursuit and is not dependent on economic conditions to practice it. It depends on one's understanding and appreciation of all the conditions that life has to offer and reacting to them in a gracious manner.

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This is part of our series on Luxury Real Estate Marketing and Real Estate Branding.

Luxury Real Estate Marketing Essentials - The Definition of Luxury-Part 3

The View from Santa Barbara CA to the Channel Islands

WHO NEEDS CHRISTMAS TREE LIGHTS?

If you are or aspire to become a luxury real estate marketing professional, it is important to have a clear definition of what luxury really is. The word luxury has become ubiquitous with marketing anything expensive. What makes something truly luxurious? Does it have to be expensive, rare, or just have a name brand?

Ultimately luxury is appreciation, and appreciation is a personal point of view. So the item, the service or the brand’s value is in the eyes and the psyche of the beholder. It does not require possession. Appreciation is free. Expressing one’s appreciation feels great. In the words of designer, Jeffrey Bilhuber, “I love luxury. I am convinced that luxury is part of what makes us human, that it brings us beauty and pleasure... It is inspiration and aspiration, something taught, something learned -- an evolving appreciation of good, better, best.”

Free luxury surrounds us everywhere we go. It is evident in nature’s perfection, as even a snowflake is uniquely different from its counterparts. Free luxury can be seen in the vivid coloration of tropical birds, flowers, sea life, ocean waves, sea shells, etc. Finally, the ultimate luxury is life, itself, if you can simply appreciate it. And, so many of the best things in life are free.

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Luxury Real Estate Marketing Essentials - The Definition of Luxury--Part 2

Pierre Hotel, NYUnparallel Service

If you are or aspire to become a luxury real estate marketing professional, it is important to have a clear definition of what luxury really is. The word luxury has become ubiquitous with marketing anything expensive. What makes something truly luxurious? Does it have to be expensive, rare, or just have a name brand?

Some brands maintain the standards of luxury. Others don’t; they imitate. It is important to understand all aspects of quality and grade of different items. Just because a brand name is on a pair of sunglasses is no guarantee that the finest materials in manufacturing were used. It means that the brand licensed its name for those sunglasses. You have to know whether or not they are worth the price.

Corinthia Grand Hotel Royal, Budapest, HungaryIn “luxury” hotels staffs are trained to anticipate and exceed a guest’s expectations. The concierge in these hotels understands guest’s needs and can recommend restaurants because they have eaten there. The elite concierge distinguishes himself/herself as a member of The Society of Golden Keys, and they display their Golden Key pin on their lapels. They earn these keys by knowing their cities intimately and recommending to a guest a unique visit or perspective suited to that individual. The best, and only the best, was the norm for these establishments.

Unparallel service has no imitators. It is great or it isn’t.

What is your definition of luxury?

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Luxury Real Estate Marketing Essentials: How Do You Define Luxury-Part 1 ?

If you are or aspire to become a luxury real estate marketing professional, it is important to have a clear definition of what luxury really is. The word luxury has become ubiquitous with marketing anything expensive. What makes something truly luxurious? Does it have to be expensive, rare, or just have a name brand? Is there such a thing as free luxury?

Luxury used to connote a product or service with a history of tradition, impeccable quality, and a pleasurable buying experience. It was associated with the highest standards of materials and production and only the most skillful artisans were allowed to work on these items. When those items were sold, the potential customers were treated to an experience of shopping that matched the quality of the item sold.

Men picked out fabrics for their handmade suits as they sipped the finest coffees or liquors provided by the establishments. They made appointments for fittings assuring a perfect fit. Shopping was theater. If the suit was damaged in any way, you could bring it back to have a whole rewoven, a seam repaired, or a button replaced, at no additional cost.

Women were treated to a fashion show while sipping champagne and munching finger sandwiches or sipping teas. They were invited to a large dressing room to try the clothing on with a seamstress at hand to modify the article if necessary.

What is your definition of luxury?

This is part of an ongoing series about Luxury Real Estate Marketing. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or by by RSS Feed. or by Audio Podcast Comments? Please use form in left column.

Luxury Real Estate Personal Branding: Know Your Personal Brand Values

iPhone's Touch ScreenOne way to help clarify your personal brand values as a luxury real estate marketing professional is to clearly define your own preferences as a consumer. Here is an example of how you can put this into practice.

Have you noticed lately how many companies are gunning for Apple’s iPhone to compete for the coveted smart phone market? The iPhone with its elegant touch screen is way cool. But, is it for everyone?

Just in case you do not already know, a smart phone sends and receives email, text messages and instant messages. It has a web browser and can do many things your desk top computer can do via various “applications”. Some applications are for business and others just for fun. For example, you can store photos, take photos, listen to music and watch videos. It knows where you are via a GPS system, so it can show you how to get from where you are to where you want to go as if you are using a similar system in your car.

I found it difficult to type messages on a flat surface and that was my biggest issue with the iPhone. I often typed a key that was next to the one I wanted, e.g., an N instead of an M. Being able to type a quick email response while on the go is my personal priority in terms of functionality. So, I looked for a smart phone with a great keyboard.

Blackberry BoldI discovered the top of the line Blackberry Bold that has a smaller screen than the iPhone but equally vivid. It is non-touch screen, but it has many of the same type of toys as the iPhone. Plus, it has a keyboard with contoured keys that clicks like the driver’s door when it closes on a fine Mercedes Benz. Now, that got my attention!

Take the time to think through your own buying decisions. What attracts you to certain products and not others? That will help you define your personal brand values.

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column.

Luxury Real Estate Personal Branding: Client Acquisition

As a luxury real estate marketing professional, can you quickly, clearly and succinctly state how your personal brand is different from your closest competitor's brand of doing business? The faster you can communicate this in words, in graphics, in video, in other media and also in the way you do business, the faster your potential new clients will know you are the one with whom they want to do business.

Confusing messaging slows down the client acquisition process. The clarity of your brand message speeds up sales. Get your message right if you want to increase the rapidity of client acquisition.

Apple Computers really gets it. Have you ever seen one of their Mac vs. PC TV commercials? Each commercial has one goal in mind: to get PC users to switch to Mac. The primary differentiator is Cool (Mac) vs. Stodgy (PC). Check out the video and see for yourself. Can you state how your personal brand is different in just one word?

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column

 

Luxury Real Estate Personal Branding: Out-think! Don’t Out-Spend Your Competition

The current housing market represents an unprecedented opportunity for luxury real estate marketing professionals who are interested in catching their competition off-guard and capturing market share. But, the key is to out-think your competition not to out-spend it. By out-think we mean you must stand out from your competition in the minds of your target market. You must be distinct. In fact, our motto is “stand out or bow out”!

A powerful lesson in the parcel delivery service industry can be learned about the pitfalls of out-spending and not standing out from the crowd. After investing and losing 10 billion dollars in the U.S. over the past five years in the domestic express-delivery industry German owned DHL is bowing out of this market segment. DHL is the number one international logistics and express service provider in the world. But they could not successfully break into the US market that is dominated by UPS, Fed-Ex with United States Postal Service as a distance third.

MARKET SHARE
U.S. market share for express mail and ground parcels, for the third quarter 2008

  • UPS: 52 %
  • FedEx: 31.5%
  • U.S. Postal Service: 11.7 %
  • DHL: 4.8 %

Source: SJ Consulting Group

Historically UPS was known primarily for its domestic ground-based delivery services and faced competition primarily from the United States Postal Service in this category. Then, in 1998 FedEx expanded into the ground parcel delivery market by acquiring Roadway Package System and rebranding it as FedEx Ground in 2000.

FedEx was founded in 1971 when they introduced express-delivery service. Over a decade later UPS began offering Next-Day and 2nd Day Air Service. With virtually identical services and identical pricing how does the customer choose between UPS, FedEx and USPS? What was DHL thinking by adding yet another identical service at the same price?

Jack Welch, of General Electric had a philosophy about entering a new business category. Basically, he felt that if GE could not be #1 or #2 in the category he would not even bother.

What category of your real estate market can you own such as Waterfront properties, Equestrian estates, or downtown condos? What can you do better than anyone else? In what category can you stand out as a market leader?

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column

 

Luxury Real Estate Branding: Emotional Branding

Forming a strong emotional connection with your target market is a sure way to increase your market share as a luxury real estate marketing professional. Southwest Airlines really gets this notion of forming emotional connections with its customers. They even send birthday cards to loyal customers.

If FedEx wants to gain a major competitive advantage over UPS in the parcel delivery service industry, it will need to identify a new category to own in the minds of its existing and target customers. With identical services and prices one of the companies will need to make a stronger emotional connection with decision makers in the companies they serve in order to win and retain customers. It all comes down to this question about the brand’s relationship to its customer: Which company feels the best to work with?

The US Postal Service, a distant 3rd (in market share) behind #1 UPS and #2 FedEx, is definitely on the right track as far as emotional branding is concerned. It has positioned itself as distinct from UPS and FedEX by claiming “greener delivery” on parcels. The assumption is that letter carriers already deliver to US addresses every day of the week (except Sunday). Therefore, they offer the industry’s lowest fuel consumption per delivery. This has given eco-conscious consumers a compelling reason to choose the post office over the other two carriers.

UPS did the green thing in 2005 by recalculating its routes to reduce left turns which cause drivers to waste fuel while standing idle in intersections. Although, it eliminated 464,000 miles from its travel and saved 51,000 gallons of fuel within Washington D.C. alone, due to more efficient routing, it cannot compete with the post office as the most green parcel carrier.

How can you make a stronger emotional connection with your clients and become the breakaway emotional brand in your marketplace?

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column

What’s In a Brand Name

 


 

 

One of the ultimate coups in branding is creating a name that helps you stand out from the crowd and sticks in people’s heads. For example Mr. Waterfront is the number one volume agent in Annapolis specializes in, guess what niche market in Maryland? The Downtown Crowns are a mother-daughter team (Sharyn and Victoria Crown) who specialize in luxury condos in downtown San Diego.

Check out www.DowntownCrowns.com.

Federal Express (now FedEx) invented the “overnight delivery” business category. In fact, the brand name itself has become a verb. To FedEx a parcel means to overnight it. To Google is now a verb meaning to perform an internet search. To Xerox something is to copy it. Kleenex is a noun that means facial tissue.

Is there a brand name that can make you stand out and be easily remembered?

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column

Luxury Real Estate Marketing Essentials: Know Your Brand

 

While attending the National Association of Realtors conference in Orlando Florida, we tried a new restaurant for dinner. The waitress told us with great pride that Oceanaire Seafood Restaurant is a small gourmet boutique restaurant chain. They do not advertise. Instead, they spend their money flying in the freshest fish possible. What is served for dinner was caught no more than 24 hours prior. The fish is refrigerated, but never placed on ice. They use Federal Express to insure overnight delivery in special coolers. Any fish caught in the 200 mile range of the restaurant is delivered and served that day. They also have their own crab boat in Alaska, and lobster boats in Maine to control the quality of these crustaceans.

In a few minutes, the waitress expressed the brand clearly and succinctly. We knew exactly what we were in for. It precisely met our needs and person preferences, as we are quite fond of very fresh seafood. It reminded us of a beachfront restaurant in Portofino, Italy where the fishermen bring in the catch and it is grilled within minutes of leaving the boat.

We ordered a fish that was new to us which was Carolina Grouper. It was absolutely delicious! On our way out we decided to come back the next evening and bring another couple. The second evening was equally perfect

We have told everyone who will listen about this restaurant and now are writing about it. This spontaneous, enthusiastic support of the Oceanaire Seafood brand comes naturally because it feels good to share great finds with friends. Word-of-mouth promotion is better than any advertisement, and it costs the company nothing.

This illustrates the power of a brand. Know who you are and tell your clients in such a way that it makes it easy from them to promote you. Then, live up to your brand.

This is part of an ongoing series about luxury real estate personal branding. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column

 

Luxury Real Estate Marketing Essentials: A Green Gift

We spent last weekend at the National Association of Realtors conference in Orlando, Florida. As we wandered through the exhibitor’s hall, checking out all the various booths, we were impressed by the Eco Hatchery exhibit. Given that one of the top trends in the luxury market is the Green Factor, Eco Hatchery has developed a clever starter kit that introduces people to the fundamentals of Green Living. The Eco Starter Kit includes the tools needed to conserve energy, save money, and shrink your carbon footprint for good. The kit contains:

  • Energy Monitor to identify appliance hogs
  • Eco Lighting Replacement Tool
  • Home Tap Water Quality Test & Conservation Tools
  • Reusable Filtered-Water Bottle
  • Home Insulation Products
  • Reusable Shopping Bag
  • Eco-friendly Soy Candle
  • A-Z Recycling Resources Directory
  • Recycled Coffee Filters
  • Online Eco Roadmap with personalized recommendations for ongoing savings
  • Etc..

The Eco Starter Kit might just be the perfect Holiday gift for your eco-conscious clients or friends. For further information, visit www.ecohatchery.com.

This is part of an ongoing series about Luxury Real Estate Marketing. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column.

 

Luxury Real Estate Marketing Essentials:Real Estate Dough, The Book

Bernice Ross has done it again! Her new book, Real Estate Dough is now available and it is a winner. Bernice is a nationally syndicated columnist, trainer and speaker, as well as a Master Certified Coach with over 30 years of real estate sales experience. Bernice is also the author of www.LuxuryClues.com.

In Real Estate Dough, Your Recipe for Real Estate Success, Bernice rethinks the traditional business model for building a successful real estate practice and exposes the urgent need to adopt new business methodologies for the Web 2.0 era. Her style is unique. Each chapter begins with a Skills Check List so that you can focus first on what you need to work on the most. She also offers an Action Plan so that you can immediately implement the principles she recommends.

For example, Ross recommends that you can “Get Rich in a Niche”. Niche marketing is one of the most effective means to accelerate the volume of your business. She offers 13 different ideas of how you can narrow your focus and become known as the expert in your particular segment of your marketplace.

Bernice offers a wealth of resources on her website www.RealEstateCoach.com. You can also order Real Estate Dough (the book and the companion game) there.

This is part of an ongoing series about Luxury Real Estate Marketing. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column.

Luxury Real Estate Marketing Essentials: Luxury Spending Trends

Trends are like waves. Like a surfer, a luxury real estate marketing professional has to read the waves and plan accordingly. Here are some of the trends which are manifesting as 2008 wanes and we head into 2009.

Before the economic downturn was evident, Americans were already cutting back on their luxury purchases. What has become cool is to consume less (bling is out), or to consume in a socially responsible manner. Unity Marketing‘s October survey on luxury trends reports this noteworthy change in behavior among 1200 affluent consumers. With an average annual household income of $210,000, half of those surveyed said they were shopping less, and when they did it was at outlet stores or sales.

Furthermore, they are minimizing driving by combining all their errands in one trip in order to lessen the carbon footprint. They are bringing cloth bags to the market to save the earth, (thank goodness Hermes sells one for $995). When making car purchases, they are interested in the Hybrid, and luxury brands are responding accordingly. Even the larger SUV such as General Motors, Yukon as well as Cadillac’s Escalade have hybrid models. Organic is in, sustainable agriculture, anything with the Save the Earth Theme is in.

Another survey by Better Homes and Gardens Real Estate “Living Green” revealed that 48 % of the homeowners are willing to spend $2500 or more to green up their homes to make them more attractive to potential buyers. This is an important bit of information when advising sellers in preparing their homes for sale. The Green attributes should be emphasized in the marketing of a home.

This is part of an ongoing series about Luxury Real Estate Marketing. Get Fluent. Get Affluent! Subscribe to The Language of Luxury by Email or RSS Feed. Comments? Please use form in left column.