Personal & Company Branding: Co-Branding with the Color of the Year

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Luxury Real Estate Marketing Tip: Luxury is a Soul Supplement Part 5

February 28, 2013

Impeccable Manners! - The Secret to Becoming “Top Dog” in Your Marketplace

Throughout this article series, we have explored a new definition of luxury, “Supplement of the Soul”. Nothing feeds the soul of high net worth clients more than being treated like royalty. And, that requires impeccable manners. If you are aiming to be “Top Dog” in your area, as a luxury real estate marketing professional, you can run circles around your competition simply by acquiring impeccable manners.

The secret ingredient in impeccable manners is impeccable communication skills. "Impeccable" means, “in accordance with the highest standards of propriety; faultless." You have to approach manners as an art form and become a virtuoso, one who excels in the technique of an art.

Occasions such as a wedding, an audience with a royal, the president or the pope have specific rules. These are the techniques of the art of impeccable manners. If you intend to have an international clientele it is important that you become well versed in their customs and manners, and invest the time to master your craft.

Impeccable communication and manners inspire trust and confidence. Any newbie that acquires this skillset can outsell a seasoned grouchy veteran. We saw it happen in a luxury car dealership, where a newbie (just hired/first time in car sales) outsold everyone on the floor in her first week on the job, because of her cheerful demeanor and impeccable manners.

In luxury real estate one of our clients was given a prestigious listing because of his manners and impeccable follow-through. For this seller, impeccable manners made the difference between choosing him over three other seasoned competitors.

One of our friends in Napa, California worked for one of the premier wineries as a host and event coordinator. At one of the wine events, a dignitary from another country noticed his skills and asked if he would be willing to become the head butler in their embassy in Washington. Delighted with this opportunity, he accepted, and promptly enrolled in butler school. Now he runs the embassy's social events and is their liaison for the other embassies.

So now we have completed this article series. We discovered one of the most important universal principles that must be applied in your luxury real estate marketing practice if you sincerely desire to gain or sustain market leadership (be “Top Dog”). Here is a final recap:

Determine what feeds the soul of your client (Part 1)

Accurately assess the luxury mindset of your client ((Part 2)

Adopt what we call the “Objective Luxury Real Estate Agent Mindset" (Part 3)

Clear your mind of envy (Part 4)

Acquire impeccable manners (Part 5)

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Luxury Real Estate Marketing Tip: Luxury is a Soul Supplement - Part 4

February 27, 2013

PART 4 - ARE YOU GREEN WITH ENVY?

Inspired by a new definition of luxury, “supplement of the soul”, we embarked upon a very exciting journalistic journey in this article series. We discovered one of the most important universal principles that must be applied in your luxury real estate marketing practice if you sincerely desire to gain or sustain market leadership. Here is a recap:

Determine what feeds the soul of your client (Part 1)
Accurately assess the luxury mindset of your client (Part 2)
Adopt what we call the “Objective Luxury Real Estate Agent Mindset" (Part 3)

The next component of this universal principle may require some additional soul searching on your part: Clear your mind of envy! Nothing will impede your personal success more, as a luxury real estate marketing professional, than being “green with envy” when it comes to the wealth, possessions or social status of others.

Envy is:

“The pain caused by the good fortune of others” - Aristotle

"A reluctance to see our own well-being overshadowed by another's because the standard we use, to see how well off we are, is not the intrinsic worth of our own well-being but how it compares with that of others" – Kant

Are you green with envy?

If you secretly begrudge your clients for being able to afford the luxury homes you are marketing, this is important internal personal feedback (from you, when you are in your best state of mind) that you need an attitude adjustment. Instead of clubbing yourself over your head with this feedback, use it to propel yourself into a more affluent state of mind. And, watch your luxury real estate marketing practice soar!

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Luxury Real Estate Marketing Tip: Luxury is a Soul Supplement Part 3

February 26, 2013

PART 3: THE OBJECTIVE LUXURY REAL ESTATE AGENT’S MINDSET

In part 2 of this series we shared the two mindsets of luxury consumers. This post is about YOU, the luxury real estate marketing professional, developing your mindset. We emphasized that you have to suspend your judgments about your client’s lifestyle and personality. To do that you must adopt the Objective Luxury Real Estate Agent Mindset.

Easier said than done? Being truly objective is the key to a successful real estate transaction. Objectivity is the beginning of a successful and long- term client/agent relationship. Here is what is at stake: longevity in the business and an enviable reputation as the go-to person in your marketplace.

The easiest way to gain the Objective Luxury Real Estate Agent Mindset is to keep your purpose in mind at all times: closed transactions and clients becoming raving fans. Or, as one of our own mentors used to say, “Don’t let the ants get in the way of the elephant”. Here is an example:

Our company had a great listing. We were the listing broker for one of the premier entertainment office buildings in Los Angeles. We got a call from an assistant who was working for a celebrity to make an appointment to view one of the vacant floors in the building for their offices. We set a time, and she gave us a hint that the client may be a few minutes late. As a rule of thumb this could translate to an additional hour in our experience.

Prior to heading out for the appointment, we prepared by loading the car with items that could be done while waiting for them in the building owner’s conference room. The assistant arrived on time. She took a cursory look at the space, and told us that we would have to wait for her bosses as they were running late and coming in separate limos.

First to arrive was the wife. She was a famous actress in an Oscar winning movie. She threw the mink on the couch and proceeded to complain to her assistant and ignoring us. We waited until she ran out of breath with her tirade and suggested we take a look at the space. She had a blast critiquing the finishes, and after she was done, we explained that we would design the space to suit their particular needs. She left with the harassed assistant, and said she liked the space.

Then, the husband (the manager of a mega star) arrived and reenacted the same scenes his wife had just dramatized. When he was done we viewed the space. He calmed down and stated that he, too, liked it. We exchanged cards and he asked us to keep him informed of any other locations that we thought would match his needs. He thanked us profusely and apologized for being late. We had no doubts that he would refer us future business.

What kept us objective in this scenario? Our understanding that we were hired to do make sure that building was leased. We were not hired to pass judgment or psychoanalyze their personalities or to gossip about their celebrity histrionics. That was none of our business. What we kept in mind was this:

They were interested in the building

They were qualified to lease the space

The owners would be happy because their marquee name would add to the prestige of the building

The commission would be sizable

Keeping this vision clear in our minds was a great way not to let the ants get in the way of the elephants. And, that is how you, too, can adopt the Objective Luxury Real Estate Agent Mind as a luxury real estate marketing professional. This will supplement your soul and also your bank account!

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Luxury Real Estate Marketing Tip: Luxury is a Soul Supplement - Part 2

February 24, 2013

Part 2: THE TWO MINDSETS OF LUXURY CONSUMERS

In Part 1 of this series, we shared an inspired definition of luxury, "Supplement of the Soul". This prompted us to do some soul searching for this article series and define a universal principle that, if applied objectively, can give you a tremendous competitive edge as a luxury real estate marketing professional.

Here it is: If you really understand what feeds the soul of your clients you can better help them get what they want. And, they in turn will help you get what you want—more referrals!

But, here is the catch. You must suspend your own judgments about what feeds their soul. And, that does take some soul searching on your part.

If you secretly harbor judgments about your clients, sooner or later, they will feel it and that will definitely inhibit referrals. Being non-judgmental about what feeds their soul accelerates the speed of trust, which IS the accelerator of referrals. Once you get your own judgments out of the way you will find that you can work with a greater variety luxury real estate clients. And, that means more business.

There are two universal mindsets of luxury consumers. This does not mean that your clients are totally in one mindset or the other. It means that one is their dominant mindset. Luxury consumers are either predominately “self-actualizing consumers” or they are predominately “status seeking consumers”. The key is to accept that one mindset is not better than the other, no matter how you were raised or what you personally believe is right for you.

Stay objective and non-judgmental. Watch for the clues your clients give you about their dominant mindset. Then go about helping them get what they want, what feeds their soul.

Watch for Part 3 of Soul Supplement!

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Luxury Real Estate Marketing Tip: Luxury is a Soul Supplement

February 21, 2013

Part 1

Reaching international buyers is increasingly becoming a significantly component of your luxury real estate marketing practice. For that reason it is important to understand what luxury means to those in foreign countries because it can vary dramatically. But, what you will find is a common thread shared between luxury real estate buyers worldwide. Thoroughly understanding this universal principle can help you accelerate the speed of trust with all new clients and also can give you a tremendous competitive edge.

In our own strategic branding practice for luxury real estate agents and brokers worldwide we constantly look for new definitions of luxury. We found this very profound definition in the primary title of a book written by Jean Philippe Warren, professor of sociology and anthropology at Concordia University in Canada: Le Supplément d’ âme (“the supplement of the soul”). We interpret this as “that which feeds or adds to the soul”.

And, herein lies, the universal principle that can help you understand luxury buyers and better speak their language. You need to determine, what feeds the soul of your client!

In this article series we will provide you with the clues to watch for when you first meet your luxury buyer by phone, via email or in person. Identifying this vital value profile can propel you to make more sales and exponentially expand your referral base. Stay tuned for Part 2 of this series!

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Real Estate Personal & Company Branding: How to Create “Buzz” About You

February 18, 2013

Courtesy of The Shop

Do you want to stand out from your competition and become the breakaway luxury real estate marketing brand in your area? The most effective real estate personal and company branding involves identifying an uncontested or under served market niche that you can dominate. But, to become the breakaway brand you must offer a remarkable value proposition that catches the attention of the media and sparks word-of-mouth advertising or “buzz” among your fans.

With the Internet making real estate market information ubiquitous most luxury real estate marketing professionals find it very difficult to differentiate themselves from their competition. They are usually hard-pressed if asked to articulate how they are different or better, how they stand out. If you are having this challenge, you are not alone!

Another word for market niche is market “category”. Categories are easy to understand in the restaurant business: fast food, Mexican, Chinese, steak house, etc. You can imagine how difficult it is to find an uncontested restaurant category if you just think about the usual suspects. Most restaurant categories are usually over-crowded in larger towns. But, here is a example of how a new restaurant in Santa Barbara, California has positioned itself to become the breakaway brand in an uncontested new category.

Recently, a friend of ours told us about a fantastic new informal breakfast and lunch only restaurant in Santa Barbara called The Shop. It looks like a fast food restaurant where you order from a posted menu and they bring your order to the table. You can sit indoors or on a patio with picnic tables and umbrellas. But, the quality of the fresh ingredients, and the caliber of the menu items, including home-baked breads, is what you would expect at a full service restaurant for double the price.

The four owners of The Shop identified a much-under served market: Foodies who want the quality of “slow food, fast”! They really struck the right chord with us. We needed a lunch place that had great food with an original, varied menu that was inexpensive enough to visit often. They must have read our minds. We have become raving fans. Evidently, we are not alone as the place is packed every day, so we learned it was best to get there before the crowds.

Did you pick up on how The Shop is able to articulate, in just three words, their new brand category in Santa Barbara as well as their extraordinary promise of value: SLOW FOOD, FAST? They really thought this through and that makes it easy for fans to spread the word. It facilitates word-of-mouth advertising, which is one of the most important reasons to get your personal or company branding spot on in your luxury real estate marketplace.

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Luxury Real Estate Personal & Company Branding: Be Ultra Thoughtful

February 13, 2013

As a luxury real estate marketing professional being "ultra" thoughtfull is a great differentiatior! Tomorrow is Valentine's Day, and bringing someone an unexpected chocolate treat will make them remember you for a long time.

When Ron and I were working in commercial real estate in Beverly Hills,Beverly Hills adjacent, and the West Side of Los Angeles, we would pick up little treats for our meetings on Valentine's Day. Tuescher-Chocolate of Switzerland in Beverly Hills was always one of our choices. They make champagne truffles that will leave anyone speechless.

We took this shot of Tuescher's Valentine's Day window, yesterday in Beverly Hills. Valentine's day is a perfect day for giving someone an unexpected treat. It is one way of being ultra thoughtful. What will you do tomorrow?

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Luxury Real Estate Personal & Company Branding: Promises, Promises!

February 12, 2013

One of the biggest challenges that face luxury real estate marketing professionals is articulating their own unique value proposition. Yet, this is by far one of the most important aspects of personal or company branding. Your extraordinary promise of value is what your ideal clients can expect when doing business from you vs. your closest competition. It is what makes you stand out.

An empty or exaggerated promise can lead you into a trap where you disappoint your clients by under-delivering. Hype can be your worst enemy. Let the empty Beverly Hills store depicted in this post remind you about the fate of businesses that communicate empty promises.

Your reputation is your most important asset. Reputations are based on kept promises. It is always better deliver exactly what you promise, and then exceed their expectations.

If you take the time to identify a niche within your marketplace that is underserved it will not take much to deliver a superior value proposition. Keep in mind that your target market has settled for mediocre service. If you promise too much you will not be taken seriously.

To differentiate yourself or your company from your competition you need to offer an extraordinary promise of value. To do this you must be passionate about what you do and you find something specific that you can do better than anyone or any company in your marketplace. We call this your strategic differentiator.

The idea is to become known for your strategic differentiator. Your marketing messaging must focus on the communication of what makes you distinct, which is essentially your extraordinary promise of value.

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Real Estate Personal & Company Branding: Laugh Out Loud!

February 11, 2013

In personal and company branding for the luxury real estate industry, humor can be a great emotional branding tool. But, it has to fit your brand like a glove. It must fully resonate with the personality of the luxury real estate marketing professional or company who uses it.

Southwest Airlines has done a remarkable job of incorporating humor into their brand. On our last Southwest flight the flight attendant sang a obscure Christmas Carol to the passengers, off key mind you, and got a “seated ovation”

You may have heard the expression, “Laughter is the best medicine”. Benefit, the cosmetic company that took the market by storm and then was acquired by the luxury brand conglomerate, LVMH (Louis Vuitton, Moet, Hennesey),has a different twist: “Laughter is the best cosmetic!”

Other brands have attempted to imitate the “retro-humor” of Benefit and have not succeeded. This quirky brand position, when executed well, is truly inimitable. Another airline would have a tough time imitating Southwest’s brand of fun.

Many people associate laughter and fun with less formal brands and do not associate it with luxury. We have always believed that a great belly laugh is one of the greatest luxuries in life and unabashedly incorporated LOL (a text messaging shortcut for “laugh out loud”) into our company’s sub-brand, The Language of Luxury.

If humor is an important part of who you are as a luxury real estate marketing professional or company, by all means, find a way to express that as part of your brand. You will be surprised at how many people will resonate with it!

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Personal and Company Branding: A Brand is Not a Look

February 5, 2013

What is a Brand? Many refer to a brand as the logo (that includes the brand name), or the basic “look” of the collateral material or website. Many think that luxury real estate brands should have script fonts, gold-metallic embossed lettering, on business cards or presentation folders for example, or use the colors black, gold, burgundy, or dark green. While these elements may be used to help express the essence of a brand they are just superficial aspects of personal and company branding. A brand is not a look!

A luxury real estate marketing brand is the inimitable “soul” of the professional or company expressed via their exceptional manner of interaction with their target market. It is their distinctive way of doing business based on their priority values and their unique personality. The logo, the name and the look must symbolize this entire package and communicate the essence of the brand.

Nordstrom as a brand is known for wonderful customer service. That is what their brand stands for. One of Nordstrom’s signature ways of interacting with a customer is for the salesperson to come out from behind the counter and hand the customer the bag. It is a subtle way of saying, “I am accessible to you and I don’t hide behind the counter.”

Recently, we tested the latest and greatest ski equipment at Jan’s Mountain Outfitters in Deer Valley, Utah, where we have shopped for skis since Deer Valley opened. While in the store a couple seated next to us was raving about how the boot fitter spent quite a bit of time, adjusting each part, and insuring that their boots fit perfectly. It was a pleasure to hear that Jan’s remarkable service has been consistent throughout the years.

The staff at Jan’s really takes the time to understand how you ski, where you ski, and your level of expertise. They are experts. They are passionate about skiing and they are thrilled to have you experience the very best! It is their way of doing business. It is their brand. Their consistency in expressing the soul of their brand is part of the soul of their brand.

A look can be easily imitated. How many auto makers copy the styles of the world’s most expensive cars? What cannot be imitated is the soul of a brand. What are you doing to consistently express the soul of your brand?

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Personal and Company Branding: Emotional Super Bowl Ads Fail to Connect

February 4, 2013

In personal and company branding, emotional branding is marketing communications that connect your unique value proposition with the emotional needs and aspirations of your target market. Emotional communications without that connection may feel good, but they will not significantly increase your bottom line.

The emotionally impactful commercials were some of the big winners in the Super Bowl advertising contests. The Jeep ad with Oprah’s voice-over took the top prize. But, will it sell Jeeps? While Oprah’s message was heartfelt it said nothing about the Jeep’s specific value proposition (as distinct from its closest competition) and how it can satisfy the needs and aspirations of its customers.

Budweiser has been using Clydesdale horses in 23 Super Bowl ads since 1986. In this year’s ad a horse was reunited with its trainer. It packed a wallop of emotion, but how will that sell more of this brand of beer? What about newcomers to these ads, those with zero connection to the previous horse ads—will they get why they should drink Bud vs. Coors in 60 seconds? If you cannot view the video below click here.

“The Ram and the farmer” was another emotional branding winner. It told a good story, but the story did not tell Ram’s target audience anything about what makes Ram different and better from a Ford.

In our pre-game Super Bowl post on the 2014 Mercedes CLA commercial we highlighted how the ad brilliantly communicated how the car could satisfy the most pressing needs and aspirations of its target market. In just a few seconds it established this MBZ model as a direct competitor of BMW and Audi who also target a younger demographic with certain models. It did so by revealing its affordable price tag.

Personal and company branding is precision communication that compels your target market to do business with you vs. your competition. Evoking emotions through your marketing communications can accelerate and strengthen the connection between you and your ideal clients. But, that can only occur if you first communicate your unique promise of value and how your brand can satisfy their priority needs and aspirations.

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Personal & Company Branding: Super Bowl Cool

January 30, 2013

Courtesy of Mercedes Benz

A successful personal or company luxury real estate brand is the total package of precision communication that compels your target market to do business with you vs. your competition. For branding to work at this level the communication must instantly convey your extraordinary promise of value, i.e. how your service can readily satisfy your client’s most pressing needs.

A great way to tune into branding on a grand scale is by watching Super Bowl commercials. Some of them just try to be clever and create buzz, which misses the real point. People may talk about the ads but will the right people, the target market, actually go out and buy the products?

Keep in mind that the same message that is spot on for your target market may not resonate with anyone else. That is why you need to know the psycho graphics (the mindset) as well as the demographic profile of your ideal client. For example, active teenagers will yawn when they see a commercial for a mobility scooter that is a lifesaver for the disabled or elderly, unless they see it as the perfect solution for a family member or friend.

This year Mercedes Benz in on to something exciting and so is their Super Bowl commercial. Mercedes is out to attract a whole new generation of buyers—the young urban professionals who heretofore have snoozed through their commercials. Making a huge bet at the 2013 Super Bowl, they are targeting this demographic with a very well crafted commercial for their 2014 CLA.

Mercedes and their ad agency really understand the psycho graphics (mindset) of this target group. First, their Super Bowl commercial shatters the perception that the MBZs are too expensive by driving home the message that the base price of the CLA is under $30K. Then, they appeal to every male “yuppie” fantasy. Note: If you cannot see the video below Click Here

Suddenly, Mercedes Benz is cool, hip and affordable. That is a very powerful message to get across in a one-minute commercial. It shifts the mindset of their target market from NO-INTEREST OR CAN’T HAVE (because it is too expensive) to MUST HAVE (because it is within my reach and it can satisfy my most pressing needs!). Mercedes shifts from a brand position of “TRADITIONAL AND SOPHISTICATED” to “CURRENT, STYLISH AND TRENDY” in an instant with a new class of car. This is a major feat of extending their brand to include a wider customer base, without alienating their core customer.

A key component of brand strategy is taking control of how you want your brand to be perceived and by whom. It is all in the total package of precision communication.

Are you controlling how your luxury real estate brand is perceived?

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Luxury Real Estate Marketing Buzz: Three Coins in a Fountain

January 29, 2013

Spending your dollars and coins wisely so that they have maximum impact (capturing the attention of your target market) should be the mission of luxury real estate marketing professionals. One of the best ways to do that is through buzz marketing. Buzz marketing involves getting others to pick up the story you have created through a remarkable action that makes news.

Here is an example of buzz marketing on a global scale. The same principles apply to local luxury real estate marketing.

Fendi is an Italian designer known for its furs, leather goods and its unique “baguette” handbags. It is one of the luxury brands owned by LVMH (Louis Vuitton, Moet Hennessey). When Fendi “adopted” the Trevi Fountain it sparked worldwide buzz.

London’s Daily Telegraph reported, “Storied Italian fashion house Fendi has announced a four-year initiative which will see the brand fund the restoration of five of Rome’s best-known fountains, starting with the iconic Trevi Fountain…

Women’s Wear Daily got into the action by interviewing Fendi’s CEO, Pietro Beccarri, “We are proud of being tied to the city, but I believe not everyone knows, and this is a great occasion to do something for the city that hosts us. Rome is a home of Made in Italy".

CNN International reported the same story solidifying Fendi’s catchy tagline: “Fendi for Fountains”. What a great way to bring attention to the brand and reinforce the FF logo!

The Mayor of Rome, Gianni Alemanno, held a news conference stating, "The restoration of the Trevi Fountain, one of the most known Roman monuments in the World, shows the importance of cooperation between public and private support and how the best Roman brands, such as Fendi, are involved in bringing back the historic center of Rome to its original shine,"

The Trevi Fountain is one of the most famous monuments in the world. Hollywood paid a tribute with several films, Roman Holiday in 1953, Three Coins in a Fountain in 1954,( the song, Three Coins in a Fountain, written by Jules Styne and Sammy Cahn won the Academy Award for Best Song), and Gidget Goes to Rome in 1963. Disney's Epcot Center has part of the fountain replicated in the Italy Pavilion.

As part of your luxury real estate marketing practice look around your community. There are always opportunities to contribute in meaningful ways that can also generate buzz for you.

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Luxury Real Estate Marketing: Remarkable Service Cannot Be Overstated

January 27, 2013

Courtesy of Apple

As a luxury real estate marketing professional, generating word-of-mouth adverting is of paramount importance to your practice. But, for some reason people are more generous with their complaints about service than their compliments. So, when you personally receive remarkable service, go out of your way to spread the good word. You will discover that you attract more clients that will do the same for you. Besides, it feels good to promote what you value the most.

Recently, we decided to convert all of our computer equipment and devices to Apple products for seamless interconnectivity. But, the idea of setting everything up, networking, scheduling back ups, syncing documents, media, calendars, contacts and email was daunting. Fortunately, within a few blocks of us was a small company who specialized in this, and they made “house calls”.

Within three hours our entire wish list was complete and we were ready to go to work with the latest and greatest business equipment, totally stress-free. This saved us a tremendous amount of time that would have been spent on the phone with Apple Care.

We wanted to tell all of Santa Barbara about our new friend, Tobias. Then, we discovered that his company is not just a local service business. His small global company, iPower Resale Group, specializes in resale of overstock, open box, refurbished, and used Apple hardware. He can deliver 1 or 100 units as soon as same or next day to small and large firms or to consumers. Now, we can tell the world about Tobias!

For example if you are interested in purchasing a laptop for your college-bound kid, but you did not want to go full pop for a Mac Book Air, iPower Resale Group can ship you a new 11” Mac Book Air (the previous model) for $699 instead of $999 for the latest model.

Remarkable service cannot be overstated in any service sector. Become someone who is willing to go out of your way to rave about great service and watch how others will discover yours!

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Luxury Real Estate Marketing Trend: Leasing Luxury Equals Liquidity

January 25, 2013

Luxury Real Estate Marketing Trends- 2013 – Part 2

Here is a surprising luxury real estate marketing trend that the Wall Street Journal recently reported: Many high net worth individuals who can afford to buy are leasing luxury homes instead!

According to the WSJ, “The rise of the trophy rental comes as many Americans continue to abandon ownership in the wake of the country’s housing crisis and credit crunch. The US homeownership rate was 65.3% in the third quarter of 2012, its lowest rate since 1996, according to the Census Bureau. In the midst of the housing boom, in 2003, the homeownership rate reached 69.4%.”

Why are people willing to pay top dollar to lease a trophy property (in NY $35,000 per month or in LA $45,000 per month)? Renting offers the flexibility to change your mind about what neighborhood you want to live in. Apparently, the sentiment is that your primary residence does not need necessarily need to be an investment.

Some of these trendsetters do not want to tie up their money in colossal down payment. They would rather invest in the financial markets or in their own business. Others want to maintain liquidity.

Recently, we were talking to a real estate company who specializes in relocating professional athletes. The athletes’ financial managers are advising them to lease rather than buy in the new city they are playing in, even if they have long -term contracts in that city.

Some investors are purchasing luxury properties for the purpose of renting as an investment. The growth in the rental market has made this an attractive real estate investment.

Stay tuned for our next luxury real estate trend. Here is a clue, "dead tree marketing"!

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Luxury Real Estate Marketing Trend: The Luxury Effect of Targeted Snail Mail

January 23, 2013

It is important for anyone involved in the Luxury Real Estate Marketing game to stay abreast of the trends. In this series, we will be discussing the marketing trends that are leading the way in the business of luxury marketing and luxury real estate marketing. One of the continuing trends we have been observing is the strong and effective return on investment of targeted snail mail.

With the advent of e-mail, the ease of jotting a quick note, and the no cost aspect, we are all being bombarded by email. As a result many of these emails are getting lost and go unread or are relegated to junk/spam mail.

What continues to work in the luxury industry is targeted snail mail campaigns for luxury auto makers and other purveyors of luxury goods and services. In order to bolster sales, Audi and BMW sent out beautiful oversized postcards and brochures to people who own other luxury autos to encourage switching brands by coming in for a test drive. Tiffany and Cartier sent personal letters signed by the store managers to their target market. Both of these campaigns resulted in new customers in the door as well as sales.

In luxury real estate marketing, many of our clients regularly send oversized postcards to communities/streets with luxury homes. The cards are beautifully designed with compelling images that are worth a second look. Some homeowners were so impressed that they had them on their refrigerators, and others put them in their purses to show friends over lunch.

The response has been great. The homeowners have called our clients to discuss selling their homes, and/or buying a new one. In some cases, homeowners have passed the card to a friend looking to buy a home in the area. A personally written hand-written note on beautiful stationary thanking the homeowner for taking the time to hear their listing presentation has clinched the listing for many of our clients.

Targeted snail mail will increase the probability of getting a luxury real estate listing as it speaks volumes. It says that you understand the language of luxury by taking time to write a note personally and treating people luxuriously. What a great way to stand out !

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Personal & Company Branding: Are You Listening with Big Ears?

January 22, 2013

In order to engender brand loyalty and generate a continuous flow of referrals you must find ways to listen to and interact with your target market. If you listen with “big ears” you will come to know your target market very well and you will be able to serve them better than your competition does. Here is an example of how a LA radio station has built a loyal audience over 27 years by listening with big ears.

What is the first radio station that comes to your mind in your marketplace? For us, it is 94.7 THE WAVE. Their brand category is smooth, adult, contemporary music. Broadcast from, Los Angeles, it reaches us here in Santa Barbara. Some of the artists you hear on The WAVE are George Benson, Adele, Sade, John Legend, Beyonce, Kenny G, Simply Red, Vanessa Williams, Dave Koz, Santana, Anita Baker, Boney James, Luther Vandross, Chaka Khan, Sting, David Sanborn, Seal, Norman Brown, Mariah Carey and many others.

This station really has its branding act together! They call the station the “smoothest place on the dial”. And, they know their target market very well indeed. Each Sunday, the station broadcasts live from two restaurants in the area. Fans can meet the crew and each other while enjoying Sunday brunch during the broadcast. They also produce major concerts featuring the artists that they play on the air.

These live events allow the station to listen to and interact with their target market and that encourages brand loyalty. We have been listing to THE WAVE since they first launched in 1986 and missed them when we lived in Napa.

Organizing events that are not entirely focused on marketing luxury real estate and then inviting your sphere of influence can give you the opportunity to interact with and really listen to your target market. For example, host a wine tasting at your office and feature a local winery or purveyor of wines.

How can you listen and interact more with your own target market?

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Luxury Real Estate Marketing: Telling the Story Wordlessly

January 17, 2013

The Art of Photographing Luxury Real Estate - PART 2

Marketing luxury real estate is just as much an art as it is a skill. In this article series, we will cover the key principles of the art of photographing luxury real estate.

In Part 1, we talked about using a “wow” photo as the lead photo. We also emphasized that the lead photo should tell the entire “story” about the property as well as the lifestyle. The photos should tell the story wordlessly, and lets the viewer imagine himself/herself in the home.

The photos we are featuring is of an exquisite Spanish Villa estate in the “American Riviera®” in Santa Barbara. Casa della Riviera is located at 1105 Las Alturas Road is listed for $3,295,000 by our client, Chris Palme. The lead photo tells the whole story of the Santa Barbara Riviera’s Estate District.

This section of the Riviera overlooks the Pacific Ocean and Downtown Santa Barbara. The picture taken at Sunset has the shadow of a palm tree reflected on the home emphasizing the temperate climate. The adjoining deck with fire pit and hot tub brings to mind a serene moment of unwinding after a day’s work with a glass of wine while feasting your eyes on the view and warming your body by the fire pit. In this one picture the lifestyle of Santa Barbara is expressed.

Chris and his photographer, Tom Ploch, have included several close ups of the deck to emphasize the serenity and the lifestyle. Tom’s photography is exemplary, especially his superb sense of lighting.

Take the time to peruse the slide show on the site. Notice the balance of interior and exterior photos. Each picture tells the story of what it would be like to live there—waking up to an ocean view, having a cup of coffee on the terrace/balcony, gazing at the sunset, etc. It is easy to fall in love with this property without words or conversation. All one has to do is pick up the phone or jot an email to Chris and schedule a showing.

In Part 3 of this series, we will take you to Aspen, Colorado, where snow sports are part of the lifestyle.

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Marketing Luxury Real Estate: The Art of Photographing Luxury Real Estate – Part 1

January 15, 2013

Your Lead Listing Photo Must be a “Wow”

Marketing luxury real estate is just as much an art as it is a skill. In this article series, we will cover the key principles of the art of photographing luxury real estate.

For the vast majority of luxury real estate marketing professionals it would be unconscionable to submit a listing to the MLS without photos. Recent studies have proven that adding photos can increase the sales price of a home by 3-5%. Yet, far too many luxury agents provide mediocre photos that fail to capture the attention and the imagination of prospective buyers.

The lead photo in the presentation of your listing must be a “WOW”! Great first impressions can raise expectations about the value of a home. “WOW” photos can add thousands of dollars to the final sale price of a property because they can trigger positive emotional responses in the buyers’ minds.

Whenever possible, the composition of your lead photo should tell the entire “story” about the property, and also about the lifestyle the buyer can expect when they move in. You should think of what the home would look like on the cover of Architectural Digest. Not every listing will qualify for a cover story, but you should treat all of your listing as if they deserve to be on the cover!

The magnificent property featured in this article, 14 Sunrise Cay in Ocean Reef, (Upper Key Largo) Florida actually did appear in Florida Architecture magazine. Offered at $14,500,000 by Mary Lee, owner of Mary Lee Presents Ocean Reef Properties, this stunning custom built six-bedroom family retreat has over 100 feet of frontage on the Atlantic Ocean in one of the world’s finest private clubs.

We personally toured this exquisite home. Both of us were deeply moved by the atmosphere created by the warmth of the impeccably designed living room with its barrel ceiling and the fine craftsmanship of its furnishings, juxtaposed to the expansiveness of the ocean before us.

In Part 2 of this series we will take you to the “American Riviera”, in Santa Barbara, California and will discuss the art of conveying the local lifestyle in your listing photos.

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