Luxury Real Estate Marketing: The Winning Formula of Passion & Competence

Mount Fuji, Japan

The difference between luxury real estate marketing professionals who are genuinely passionate about what they do and others who are not is palpable. It is your passion and competence that compels others to rave about you and refer business your way. But, competence alone is not enough. Emotions attract more business than logic. Tapping into the emotions of your target market and offering an extraordinary value proposition beyond competent service will give you the competitive edge.

In Japan, consumers of electronic gadgets have traditionally been persuaded to buy new products based more on extensive new features rather than the emotional benefits of ownership. Skeptics warned that Apple’s iPhone would not sell well in Japan because it lacked detailed technical features that would require hours of studying a thick instruction manual to master.

The skeptics were wrong about the simplistic user interface of the iPhone and also about the iPad, which was recently introduced to raving fans in Japan. Apple products have become a brand name accessory. They are considered a luxury on par with Louis Vuitton handbags which are extremely popular in Japan. Apple has found a way to tap into the deep seated emotional consumer needs of self-expression and the promise of gaining acceptance, approval and admiration from others. 

Showing off your new iPad, a product that has instant brand recognition, offers emotional currency to the consumer.  This effect can occur from twenty feet away simply by recognizing the Apple logo.  That is brand power! From twenty feet away you cannot tell if a competing gadget has the latest technical features inside.

Then, there is Apple's "coolness factor"-- an inimitable brand culture that has been developing over decades.  You do not just buy a product; you join a brand and you belong to a likeminded community. Have you ever walked into an Apple store? The brand culture, the passion and the camaraderie between customers and competent employees is obvious there.

The reason that Apple has such a superior competitive advantage is not because of features but, because of this emotional currency. Google, Samsung, HP and dozens of other companies are coming out with tablet computers in the near future.  But, they will all be competing based on features alone, not on emotions, a realm that Apple dominates. 

Dell is coming out with a tablet that has a 5 inch screen (double the size of a smart phone screen). The logic is that is can still fit into your pocket like a smart phone.  They will be given away free with a wireless subscription because Dell will subsidize the cost of the device in a revenue sharing model. 

When you compete on the basis of features alone, you become a commodity because features can easily be copied.  The only territory left, when all competitors have the same features, is price. We saw this phenomenon with discount real estate brokerage firms.

Tap into your passion, as a luxury real estate marketing professional.  Claim an contested market niche that you can dominate. Serve this niche better than anyone else in your marketplace. Then, you will find the winning formula of passion and competence.

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Luxury Real Estate Marketing: Become an "Investigative Reporter"

Have you heard the term “investigative reporting”?  That is one of the great roles of a journalist and should be one of the roles you assume as a luxury real estate marketing professional when you decide to blog.  There are so many fascinating local stories to cover if you just look for them.  Find one that you can be passionate about and tell the story from your own unique voice. Your personal slant on the facts is what makes your “column” worth following.

One of the stories that we find most interesting, from a strategic branding standpoint, is the new competition between Google and Apple especially in the realm of smart phones and other mobile devices such as tablet computers (iPads).  What is at stake?  There are billions of dollars in advertising revenue at stake on mobile devices, plus applications, media subscriptions, e-books, video and more. The drama that is now unfolding, on the world stage, between these big brands sheds light on the dynamics between rival agents seeking market leadership in any luxury real estate marketplace.

Apple has just surpassed Microsoft in valuation; a feat that Steve Jobs describes as “surreal”.  Can you remember when Microsoft surpassed General Motors in valuation?

Mr. Jobs is a charismatic leader with tremendous vision.  He is bold in his move to dismiss Adobe Flash as a technology whose days are numbered.  Apple iPhone, iPod Touch and iPad only support HTML-5 a new video technology that Jobs considers to be superior to Flash.  He is not afraid of controversy, Many of his critics, including Google, say that he has made a serious error in judgment, that he is not “open and inclusive” regarding these two major video platforms (Google supports both Flash and HTML-5).  They say the consumers will be the ultimate judge.  

Mr. Jobs agrees with his critics on this point.  One iPad is now selling every three seconds! 

In our next segment on Apple vs. Google we will cover the impact that this device is having in Japan where the iPad is emerging as a luxury brand on par with Louis Vuitton.

Find a story that you can sink your teeth into and extract meaning, your interpretation of the facts,  for your readers.  That is the role of “investigative reporting”.  Locally, this practice allows you to meet many people who are likely to become loyal referral sources.

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Luxury Real Estate Personal Branding: Capture Mindshare

In luxury real estate marketing, market share is typically measured in two ways: total number of transactions and total dollar volume.  In most marketplaces (or niches within marketplaces) there are two to three agents who dominate the market and account for the lion’s share of business.  This pattern appears in most categories of products and services.  What is important to note, however, is that market share is actually the manifestation of mind share.  Capturing "top-of-mind" status as a personal or company brand is imperative if market leadership is your quest.

Here is an example of how this plays out in the beer industry in the United States.

Anheuser-Busch (brands include the world’s largest selling beers, Bud Light and Budweiser) and MillerCoors, control about 79% of the U.S. beer market, according to Beer Marketers Insights, Inc. Anheuser-Bush, the market leader, enjoys 49% and Miller-Coors commands a 30% market share.  The next closest competitors are Crown Imports (Corona & St, Pauli Girl) with 5.3%, Heineken USA with 4.2% and Pabst with 2.7%.  All others share the crumbs.

What is interesting about Pabst is that they operate a 100% virtual brewery.  In addition to Pabst Blue Ribbon, they own brand names of products that include such time-worn labels as Schlitz, Old Style, Lone Star and Colt 45. But, all of their beers are brewed under contract with beer giant MillerCoors.  The company was recently purchased for about $250 million by investor C. Dean Metropoulos, who made a fortune building well-known consumer brands including Bumble Bee Tuna and Vlasic Pickles.

Mr. Metropoulos did not purchase brewing plants he purchased brand names with substantial value. These names have been “branded” in the minds of a significant percentage of beer drinking consumers who consider Pabst, Schlitz,etc, their beer brand of choice. 

Mind share translates to market share when your personal or company brand name comes to mind first. If you are predominantly a listing agent who wants to dominate your marketplace, your primary aim must be to capture top-of-mind status in "X" number of top-tier households (the number of households that comprise your marketplace).  Luxury real estate marketing is more a mind game than anything else.  That is why it is imperative to learn the rules of the game called brand strategy to attain market leadership. 

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Personal and Company Branding: Don’t Fall Into the “Chameleon Trap”

In certain cultures it is frowned upon to stand out from the crowd.  However, if market leadership is your quest as a luxury real estate marketing professional, blending in like a chameleon does to camouflage itself is simply not an option.  At a time when competition for attention is escalating, especially online, developing a highly distinguishable, consistent personal or company brand is now an imperative. 

Changing your colors to please others, to blend in or to avoid the pursuit of your competition is the antithesis of establishing your brand position and sticking with it steadfastly.   Many agents and companies fall into the “chameleon trap” because they simply do not want to make waves. But, if you have the heart of a champion, the heart of an achiever, making waves and creating news is what you live for.

In defense of the chameleon and chameleon-like behavior it is important to note that there is more to the color changing story. Recent research asserts that social signaling, such as attracting a mate, was the major driving force behind the evolution of color change. Blending in for camouflage developed as a secondary survival skill.

Therefore, changing your colors to attract more of your ideal clients in the process of luxury real estate marketing can be a good thing. The key is to display your authentic colors decisively and consistently.  

The chameleon trap that we warn you to avoid is really the people pleaser trap. Change is good providing you please yourself in the process.

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Luxury Real Estate Marketing: Be Complacent at Your Own Risk!

Courtesy of Google and Apple

Complacency is a trap that many luxury real estate marketing professionals fall into when they attain market leadership.  This offers an excellent opportunity for competitors to pick up the slack and surpass the current market leader, especially if they have a superior grasp of technology. Staying on top of the latest technology and becoming a master of social media is now an imperative if you wish to sustain your market leadership.position. Otherwise, an unlikely competitor can suddenly challenge your domain.

Here is an example of how Google is challenging Apple, the current market leader in smart phones (iPhone) and tablet commuters (iPad).

On August 3, 2009 Dr. Eric Schmidt, chief executive officer of Google, resigned from Apple’s Board of Directors because Google entered some of Apples core businesses.  With Android (Google’s smart phone platform) and Chrome (Google’s browser-based Operating System) Apple faces direct competition for the iPhone, the iPad, and even Apple TV. 

Google TV claims to finally integrate TV and the web, so you can spend less time searching for content and more time watching it.  Google TV will work with your current paid TV subscription as well as the majority of video content online, making it easy and seamless to switch between the two.

What is behind all of these moves by Google? In a word, it is Ads!  Yes, Google is a technology company, but its economic driver is advertising revenue. People watch an average of five hours of TV per day.   TV ads amount to $70 billion per year.  There are over 4 billion TV users worldwide vs. 1 billion PC owners.

That is why Google wants to reach beyond your desktop and laptop. It wants to dominate the delivery of ads on all of your devices while you are on the go, and also while you are in your living room. In fact, you soon will be able to sync up all of your devices that operate on Android/Chrome as well as your computers, because Chrome operates over the web not in the hard drive of your computer.

If Google’s wish could come true, all device manufacturers (other than Apple) would use Android/Chrome as their platform so it can serve up more ads.  They also profit share with all of the developers who create mobile and TV Apps (software applications) that consumers can purchase at their store.

Apple has a head start with the most number of Apps available for the iPhone and iPad. But, Android is gaining momentum.  Google supports both Adobe Flash (the most widely used video format) and HTML-5. Apple only supports HTML-5.

Schmidt is positioning Google as being “open and all inclusive” vs. dictatorial and closed, like Apple. Steve Jobs has consistently positioned Apple as a leader in sophisticated design and innovation, a cut above the rest. It will be interesting to see how this plays out. Will Apple be able to sustain its market leadership position in smart phones and tablet computers? Time will tell. But, you can count on the fact that Apple is not being complacent.

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Personal Branding: Attract More Clients by Defining Your Brand Position

Brand positioning is one of the most important marketing principles and perhaps one of the most misunderstood.  Yet, to sharply differentiate yourself from your competition, as a luxury real estate marking professional, your brand position, what you stand for in the minds of your target market, must be made crystal clear. 

When you get your brand positioning spot on, it is like comparing apples and oranges. There simply is no comparison. It lets your ideal clients immediately recognize that you are a match. and your competition is not. It accelerates the speed of trust.  Portraying yourself as part apple and part orange,  in an attempt to be all things to all people, is confusing. It weakens your brand signal and your power of attraction.

When you think of Rachael Ray the author, cooking show and talk show host, what comes to your mind besides the words she coined, “Yummo and Delish”?  Rachael stands for wholesomeness; she is the archetypical “girl next door”.  As a result, Rachael is one of the most trusted personal brands in the United States.   

People like to do business with people like themselves, people who share the same values.  If you are attracted to Rachael’s down-to-earth wholesome values you are more likely to trust her advice.  Rachael has mass appeal because there are so many people who can identify with what she stands for.

Now, if Rachael Ray attempted to pull off a cooking show focused entirely on fine Italian cuisine that features traditional family recipes, she simply would not be authentic.  But, Giada De Laurentiis owns this market segment. Giada’s brand position is sophisticated/sexy. She began her professional training at Le Cordon Bleu in Paris, specializing in both cuisine and pastry. Her training also included positions at the prestigious Ritz Carlton Fine Dining Room and Wolfgang Puck’s Spago in Beverly Hills.

Wholesomeness/girl-next-door and sophisticated/sexy are very distinct brand positions.  Both are unmistakable. Each has appeal. Within moments of watching either of these famous chef’s cooking shows you can grasp how they are different and what each of them stands for.

What does your brand stand for? You must take a position and make it clear if you want to attract an abundance of ideal clients, those who share your personal values.  The purpose of personal branding is to articulate your brand position with laser sharp clarity; making what is genuine and implicit about you, explicit so you stand out from your competition, instantly. 

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Luxury Real Estate Marketing: To Gift or Not to Gift?

To gift or not to gift?  That is the question. Many agents who are involved in the business of luxury real estate marketing feel the need to give closing gifts to their clients. If you are going to do this, give a gift that tells a story so they remember you long after receiving the gift.  That way they will tell the story to their friends and promote you in the process.

One of the great gift giving stories took place in Russia when Tsar Alexander lll gave his wife an object d'art in the form of a bejeweled egg crafted by Peter Carl Fabergé, a goldsmith appointed as the designated jeweler to the Imperial Crown.  His wife was so delighted with the gift that it became a tradition on each anniversary of their marriage to give a "Fabergé Egg" to his wife. He gave the master craftsman free reign in the creation of the gifts, which became an ongoing commission, but with the stipulation that the egg must contain a surprise inside.

Most of the eggs were made of precious metals and decorated with combinations of enamel and gem stones. The term "Fabergé egg" has become closely associated with luxury. Many are considered to be masterpieces and have sold in auction for millions of dollars. 

Some luxury real estate marketing professionals believe that their clients should give them gifts for delivering invaluable service. Either way be sure to gift yourself when you close a transaction!

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Luxury Real Estate Marketing: The Power of Strategy

As a luxury marketing professional it is important to develop a strategy to achieve your goals. A strategy is not a tactic. Tactics are means of achieving immediate goals. A strategy is a long term plan of action.To strategize is to make a deliberate choice of direction which will affect the outcome of your goals. And, that is the power of strategy.

In order to develop a successful strategy it helps to discover those aspects of your business about which you are most passionate. Passion fuels your enthusiasm and sustains your determination. It enables you to stick with your strategy, to hold your vision, even when things do not appear to be working. and also to trust the process of manifesting your vision. 

Developing a great strategy is the result of defining, aligning and refining your personal brand and your position in the marketplace.  When your strategy is based on what other people think you should do instead of following your own passion, it is likely to fail. 

One of our friends, a successful realtor, loved historical homes. She began remodeling several of them, and became an expert in selling them. She knew, through her own experience, what it took to restore these historical homes. She also had a list of vetted craftspeople who could help her buyers and sellers in the restoration process, which made her a communication hub for specialized  information. Staying top-of-mind, yielded an abundance of referrals and her highly focused practice thrived.

Her passion led her to join an historical society. Her enthusiasm and participation in the organization created lifetime friendships and more referrals. This was a strategy based purely on passion which never waned; although retired now, she still works with the group.

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Luxury Real Estate Marketing: Ride the Wave of Change - Part 3

Part 3:  Get In Touch!

Touch screens on computers have been in development for years.  But, they did not reach a critical mass in terms of consumer use until the iPhone, and recently, the iPad was introduced by Apple. Soon touch screens will become ubiquitous on many types of devices. At Napa Consultants, International we anticipated this trend and have been designing our clients' web sites to be "touch-friendly" for luxury real estate marketing.

For example, one tap of the photo icon of a neighborhood can produce instant mapped search results for all available high rise condos in that neighborhood  One tap on the map and you can see details of a particular building, plus, those units within the building that are available for sale.  This is the kind of instant gratification that users are now expecting.

Riding the touch screen wave of change can give you an immediate competitive advantage as a luxury real estate marketing professional. Get in touch!

Check out this video to see where the revolutionary touch screen wave of change is heading . You will be amazed!

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Luxury Real Estate Marketing: Ride the Wave of Change - Part 2

Part 2: Capitalize On Your "Unfair"Competitive Advantages

 The stunning sales velocity that Apple has achieved with the iPad (1 Million iPads in just 28 days) is truly inspiring. As a luxury real estate marketing professional, when you study and stay focused on these kinds of results you will attract more of what you want for yourself.

In part one of this series we looked at how Apple spotted two trends and rode these waves to propel sales of the iPad. Those trends are the popularity of netbooks and e-books.  Here in Part 2, we look at a question that Steve Jobs must have asked himself to stage such a stupendous encore to the iPhone:  What else can Apple do better than anyone else in the world?  If market leadership is your quest, this is a question that you need to ask yourself as well; just rephrase the question to, “What can I (or my company) do better than anyone else in my marketplace?  What are your “unfair” competitive advantages?

Apparently, Jobs had been asking himself these questions about the tablet computer for some time.  He must have determined that Apple’s “unfair” competitive advantages included:

1. The feedback received by consumers (of all ages) who rave about the simplicity of user interface experience with other Apple products including the touch screen of the iPhone and iPod Touch
2. The world’s largest selection of Apps (applications) from other Apple products
3. The iTunes Store with established accounts of millions of customers already in place, which would make it easy for iPad owners to buy more products and services from Apple.

Prior to the launch iPad, both Amazon and Barnes & Noble had an unfair competitive advantage in the e-book space (as categories or niches are referred to in marketing terms) over other e-book readers. That is their vast databases of customers with established customer accounts, plus established relationships with publishers.  But, Apple, who was an unlikely competitor, ALSO has established iTunes accounts with a significant number of Amazon and Barnes and Noble customers.  And, for about $150 more someone who is considering buying a Kindle or Nook can get a very powerful computer.  Needless to say the other e-book readers’ chances of achieving market leadership are “slim-to-none”.

The real shocker that turned the tables and made the iPad a game changer was the low price.  Apple’s purchase of the chip maker that runs the iPad also became an “unfair” competitive advantage.

Capitalize on what you can do better than anyone else in your luxury real estate marketplace.  Leverage your “unfair” competitive advantage!

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Luxury Real Estate Marketing: Ride the Wave of Change - Part 1

Part 1: Capitalize on Trends

Apple announced that it sold one million iPads in just 28 days.  That is less than one half the time it took to sell 1million iPhones which took 74 days.  Over 300,000 iPads were sold in one weekend upon the release of their 3G model (anytime internet access wherever there is 3G coverage vs. the less expensive model that accesses the web in Wi-Fi hotspots only).  This phenomenon has very important implications for luxury real estate marketing professionals that we will cover in a three-part blog series.

The speed at which these devices have sold staggers the imagination considering the fact that, prior to 2010, very few consumers were even aware of the category of tablet computers.  However, when you assume a broader perspective, an aerial view if you will, there is a logical explanation that helps to make sense of this sales velocity. 

Apple astutely spotted and capitalized on two significant consumer trends:

1. The rapid sales of netbooks (small, inexpensive laptops).
2. The growing popularity of e-book readers (e.g., Amazon’s Kindle and Barnes & Nobles’ Nook).

The iPad was positioned, in the mind of consumer, as a superior alternative to both of these devices, at a cost that was less than the two other devices combined.

When you anticipate trends and position yourself in the path of progress it is like catching and surfing a wave.  By harnessing the power of trends you leverage energy that is bigger than just your own effort and your success rate dramatically improves.

We often recommend to clients “to go fishing where the fish are biting”.  If sales are slow in one price range or one geographic area, concentrate where the movement is happening. It is of vital importance to watch for, tune into and anticipate luxury real estate sales trends in your marketplace.  

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Luxury Real Estate Marketing: Create Your Own Niche

As a luxury real estate marketing expert, if you want to be best in class in your market place you must define your class or your niche. Here is an example of niche marketing. If the niche does not exist, you need to create it.

Originally, wine bars were  counters that served wine by their generic names, Beaujolais, Sancerre, and other ordinary wines. They did not bother naming the producers or the vintage years, and they served modest appetizers with the wines. The next evolution was L’Ecluse which took the concept to a higher level. They served good Bordeaux with foie gras, carpaccio and other delicacies.

In 1988, an Englishman, Mark Williamson expanded on the idea. After an extensive education in wines, he decided to open his own version Willi’s Wine Bar. His plan was to serve Rhone wines at his wine bar. One of his friends remarked that you can’t serve Rhone wines without food. He opened Willi’s Wine Bar and served food. Mark Williamson remarks, “There was nothing like Willi’s when we opened, we took the idea of a traditional bistro and put a wine list into it. The old days when you got by with a few cold cuts are over; a wine bar is mostly a restaurant where you serve wine by the glass.” Willi’s success started a trend. Everyone started calling their new places wine bars. Someone asked Mark whether Willi’s is a really a restaurant. His answer to this was, “I started the place, I called it a wine bar, I defined the genre. Who is anybody else to say, it’s not?”

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Luxury Real Estate Marketing: LOL People Interview with Brad Hanks

We are always on the lookout to interview movers and shakers in the realm of luxury real estate marketing,  opinion leaders in luxury marketing in general, craftspeople such as interior designers, architects, and architectural photographs,  and also experts in social media.   We are excited to share with you The Language of Luxury  Radio interview series, that we now call LOL PEOPLE. It will be an ongoing feature on the LOL Blog.

Brad Hanks is the CEO (He calls himself the Chief Evangelical Officer) of Connect with Success.  He speaks all over the world on social networking and social media, with a particular expertise in applying  his success principles to real estate marketing.

Many luxury real estate marketing professionals ask, "what is the best way to start blogging."  Brad sheds some light on this important question.  He recommends beginning by expanding  your network of contacts first before you launch your blog. Then, your likelihood of attracting a larger audience, for your blog will increase dramatically. More on this, plus some excellent advice about managing and maximizing your time on social medial can be heard  on Brad's LOL Radio interview.  CLICK HERE TO LISTEN.

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Personal Branding: Witty Slogans That Stick in Your Mind

One way to sharply distinguish yourself from your competition, as a luxury real estate marketing professional, is through a witty slogan that reflects your personality. The best slogans succinctly communicate the main benefits of your brand for your target market and trigger demand for your services. Terrific slogans also adhere to your memory.

One of the best ways to come up with a great slogan for your personal brand is to study the most famous slogans of all time. AdAge.com has named the top 10 slogans of the 20th Century.

TOP 10 SLOGANS OF THE 20th CENTURY

1. Diamonds are forever (DeBeers)
2. Just do it (Nike)
3. The pause that refreshes (Coca-Cola)
4. Tastes great, less filling (Miller Lite)
5. We try harder (Avis)
6. Good to the last drop (Maxwell House)
7. Breakfast of champions (Wheaties)
8. Does she ... or doesn't she? (Clairol)
9. When it rains it pours (Morton Salt)
10. Where's the beef? (Wendy's)

The following slogans were inducted into the Advertising Slogan Hall of Fame by AdSlogans.com.  For fun, see if you can name the brand that goes with each of these slogans (see answers at the bottom):

1. "Plop, plop, fizz, fizz, oh what a relief it is."
2. “Reach out and touch someone”
3. "M'm! M'm! Good!"
4. "The antidote for civilization."
5. "Finger lickin' good."
6. "Because I'm worth it."
7. “Have it your way.”
8. "The ultimate driving machine."
9. "When you care enough to send the very best"
10. "The Uncola."

1, Alka-Seltzer; 2. AT&T; 3. Campbell Soups; 4. Club Med; 5. KFC; L’Oreal; 6. Clairol; 7. Burger King; 8. BMW; 9. Hallmark;, 10. 7UP

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Luxury Real Estate Marketing: The Power & Luxury of Laughter

Having a sense of humor and being able to laugh easily is a must for a luxury real estate marketing professional.  Given the nature of the business which often involves a life changing decision and the myriad of emotions that accompany this decision it is important to sometimes bring relief to a tense situation by introducing a lighter side.  The importance of laughter cannot be underestimated.

When something is both rare and desirable it becomes a luxury.  Laughter is a luxury regardless of economic conditions. Being joyful is the state of abundance. That is why we love the idea of emphasizing LOL (a.k.a. laugh out loud) as the abbreviated version of the Language of Luxury.

“Your sense of humor is one of the most powerful tools you have to make certain that your daily mood and emotional state support good health.” ~ Paul E. McGhee, Ph.D. 

Laughter also creates bonds in teams.  Teams who share a familiar joke (“you had to be there, to appreciate how funny it was!”) perform better in stressful situations.  Emotional laughter releases beneficial hormones which help you maintain a positive attitude.

“Against the assault of laughter nothing can stand.” Mark Twain

As grownups, we tend to be serious, and even those who feel they have a great sense of humor are not laughing enough.  A recent study revealed a startling fact.  Children up to pre-school age laugh about 300 times a day.  Adults on the average laugh about 15 times a day. 

An Indian physician from Mumbai, Dr. Madan Kataria launched Laughter Yoga as an exercise routine,(combining Yoga breath, Pranayama and laughter) because of its benefits both physiological and psychological.  Since its launch in 1995, the Laughter Club has grown to 6000 chapters in 65countries.

World laughter day is May 2, achieving peace through laughter.  We wish you a week full of laughter!

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Luxury Real Estate Marketing: LOL Special Video Edition - No.4

 

LOL Special Video Edition - No.4

Announcing the Launch of LOL Equestrian! Plus: LOL interviews Laurie Moore Moore, Founding CEO of the Institute for Luxury Home Marketng.

LOL Equestrian

We are excited to announce the launch of LOL Equestrian, our first subgroup  on LOL Linked In and also to announce the appointment of Marsha Himler as the Subgroup Manager. With a tremendous passion for horses and over three decades of experience in the horse industry, Marsha’s expertise is the marketing of horse farms and equestrian estates in Saratoga Springs, NY, and throughout the U.S.

The goal of LOL Equestrian is to bring like-minded real estate professionals and other horse people together, not only to network and create a large equestrian referral database but also to share our knowledge and experience with each other as it relates to selling equestrian properties. To learn more about LOL Eqestrian click here and also Watch the Video!

Laurie Moore Moore Interview

Laurie Moore MooreThe Institute for Luxury Home Marketing exists to help real estate professionals provide high quality service to the buyers and sellers of luxury homes and in so doing, maximize their own success in the upper-tier residential market.The Institute is the premier independent authority in training and certification for real estate agents working in the luxury residential market. Hear what Laurie Moore Moore, Founding CEO,  has to say!

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Listen to the Entire LOL Radio Show Interview

Luxury Real Estate Marketing at It's Best: The Alignment of Purpose

 

One of the very best luxury real estate marketing secrets is aligning the purpose of your practice with your clients and  also your community. Here is an example of how a major luxury department store  applied this principle of alignment of purpose  in the global community.

Prior to Mother’s Day awhile back, Saks Fifth Avenue came up with a new Mother’s day gift and a great marketing strategy. They joined www.charitywater.org , a non-profit organization that helps bring water, clean water, to the Third World  And, they engaged customers to participate in the program in an exciting way.

1.1 billion people on the planet do not have access to safe, clean drinking water. That is one in six of us. Charity Water can give 100% of its donations because big corporations and generous individuals underwrite their expenses. Every dollar raised goes directly to digging wells and purifying water.

Saks understands its clientele. They know that the majority of mothers who are Saks shoppers do not really need a major gift from their family members on Mother’s day. So, they came up with the concept of giving the gift of water. It is inexpensive, and it is innovative. $5.00 gives someone safe drinking water for 5 years! The gift was a black rubber band style bracelet with Charity Water printed on it. For $20.00, you could send an email, in your mother’s name and she could pick the country the water went to for 20 years. For additional dollars you could provide a well, and so on.

This was an elegant strategy. Mothers in the Third World are the ones who walk miles to get the water. Mothers in America were helping mothers on the other side of the planet. The beauty of this strategy is that it exposed people to a worthwhile cause and gave the gift of water, a gift of luxury. It also illustrates that luxury can be defined in many ways given the circumstances of one's life. The idea of making it affordable for anyone to give the luxury of water was ingenius!  Thinking strategically, as a luxury real estate marketing professional, can make you feel great, help others and also generate business. When these components all align, that is as good as luxury gets!

Personal Branding: Defining Your Personal Values

Define What You Value the Most

By Alexandra Seigel

People like to do business with people like themselves.  By making your values explicit graphically and in your messaging of your website and collateral material you will find that you can accelerate the speed of trust.  Typically, people hang out with others who have the same basic values. Swiftly, expressing your values also speeds up the rate of referrals, because there is social currency in successfully introducing you to others who appreciate the same things.  As a luxury real estate marketing professional, it helps you capitalize on the principle that birds of a feather flock together.

Part of the exercise of articulating your personal brand is defining what you value the most. Think about some of your favorite things and why they are meaningful to you. This can reveal your personal brand values.

Here is a personal example from Alexandra to illustrate how to do it:

I love going to the open air Farmers Market. I appreciate the farmers who grow the food organically. My eyes are wide with anticipation as I look at all the beautiful produce. I feel connected to the food I eat. I enjoy the vendor’s kids who are helping their parents sell as they weigh tomatoes, and tell me which ones are sweeter. I applaud the restaurants who are buying organic and fresh for their patrons. I am overwhelmed by the varieties and the choices and I am thankful to be in their midst. At home, I unpack my goodies and plan our meals. Everything tastes better.

From this, you can surmise that I probably buy organic when possible, as it is my preference and an important value. I am also likely to patronize restaurants who buy direct from the farmers. I talk about it, I write about it, and I look forward to going. I am passionate about fresh food and the care that goes into bringing it to market.

- WATCH VIDEOS -

"Buzz-Worthy" Luxury Website Design

Personal Branding Case Studies and Company Branding Case Studies

About Language of Luxury

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Luxury Real Estate Marketing: How Do You Stay In Touch?

Are you staying in touch with your clients after the sale? Staying in touch does not mean boring them with articles about recent real estate related court cases, the real estate market report for their area, the current loans rates,  or telling them to change the batteries in their smoke alarms. Boring, canned, impersonal e-newsletters just do not cut it anymore with web-savvy clients and friends.

Your communications must be about the things that people value. Moreover, they must be about the things that a particular person values.  For instance, if your latest sale was to a golf afficionado,  have your assistant cull news items relating to golf.  It can be done easily by using Google and subscribing to "golf alert".  Periodically, these can be sent to your golfing friends, with a personal message from you.  Next time they are asked for an agent by their friends, guess who they will refer to?  

Consistent, personalized one-on-one communication is an art form that most time-starved luxury real estate marketing professionals have neglected. Yet, if you could quantify the results of personal communication in terms of referrals and listings you would think twice about doing it more often.

What are some of the methods that you use to stay in touch?

Luxury Real Estate Marketing: Tapping Into Your Passion

Authenticity in your personal brand is essential when targeting high net worth clients in the realm of luxury real estate marketing.  Pretense will not get you very far in the long run. For example, if you are representing that you are an eco-luxury expert, but you are not really passionate about all things “green”, people will eventually see right through you.  However, if you are truly passionate about environmental stewardship, your passion will be palpable and your enthusiasm will be contagious to those who are also on your wavelength. Your passion is your natural resource and your greatest asset if you are willing to tap it.

The alignment of your wavelength with the wavelength of your ideal clients takes all of the effort out of marketing because you do not need salesmanship to convince them that you are a match. Precisely communicating your unique, authentic personal brand signal with laser-like clarity to a like-minded audience is the surest way to attract new business, to spontaneously spark word-of-mouth advertising, and also to generate unlimited referrals.  

By far, the best channel, system, vehicle or medium of communication to reach other people like you who will like you because you are like them, is through your blog.  To be a market leader today, you must gain visibility, you must be seen where your target market shows up, which now is on the internet.  It may take some getting used to, but the surest way to achieve top-of-mind status in your marketplace right now is to fully embrace this communication medium.

Here are the three biggest challenges of developing your personal brand as a blogger:

Challenge #1:

The first challenge of creating your personal brand is to identify an uncontested market niche that you can passionately dominant as an expert blogger.  The fierce competition for attention on the internet now makes it an imperative to create a personal brand as a blogger, one that enables you to instantly stand out from your competition. 

Challenge #2:

The second challenge of personal branding is crafting your marketing message. Your message (expressed through graphics, text, photos and video) must concisely convey your unique, authentic personality and your extraordinary promise of value. Your message must be delivered precisely and swiftly. That is the true measurement of an effective personal brand.

Challenge #3:

The third challenge of personal branding is consistency.   You must blog consistently to maintain visibility and sustain top of mind status.  You must consistently stay on your brand signal and maintain your authenticity.

To triumph over these challenges you must be passionate about your subject.  Otherwise, you will lose interest and bore your audience, who will simply unsubscribe.  That is why leveraging your passion, your greatest asset, is so important to your success today, as a luxury real estate marketing professional.