Saturday, July 13, 2024

Luxury Brochures

    The media love to promote the idea that our millennial generation is so saddled by student debt that they require a bailout from the American taxpayer.

    Guess what? That’s hogwash.

    In reality, according to an Experian survey of student loan debt, Gen X and baby boomers, each hold more student loan debt than millennials.

    According to a different Experian survey, fewer than half of millennials (42 percent) claim they have never been denied credit. Most surprising is that “… 66 percent of millennials have no student debt at all,” claims the Boston Globe’s Beth Akers.

    More important, at least for real estate agents targeting millennial homebuyers, there are more than half a million millionaires in the millennial generation, and “… 93% of them have a net worth ranging from $1 to $2.49 million,” according to Mark Politi at LinkedIn.com, citing Coldwell Banker research.

    Recent Engel & Völkers Trend Report surveys find that many have a higher net worth. Of the Americans looking to buy a home for more than $3 million dollars (so-called “peak luxury buyers”), nearly 60% are members of the millennial generation.

    The number of younger millionaires will explode with the baby boomer inheritance wealth transfer over the next few decades. And according to the Coldwell Banker Global Luxury study, they will shop for high-end homes.

    How can you position yourself to be the go-to agent for this cohort?

    Carve out your space on social media

    Yes, it takes time, but engaging with others on social media is critical to attracting these luxury homebuyers. Remember, the millennial generation was our first to grow up online.

    However, not every social media platform is right for real estate agents. Keep your target market in mind in choosing where to market. For instance, millennials, born between 1977 to 1995, are, in 2023, between the ages of 28 and 46.

    Older 40+ millennials are the wealthiest, with the top 1% net worth at nearly $8 million. The top 1% in the 35 to 39 age group is worth more than $4 million. The youngest group’s top 1 percent is about $600,000, according to Levi Rasmussen at WallStreetSurvivor.com.

    These statistics should help when choosing which platform to use. Check its demographics to ensure it attracts your target audience.

    “There is often a misconception among luxury brands and marketers that digital marketing is incompatible with the luxury industry,” according to Rumble Romagnoli with Relevance, a “… luxury digital marketing agency.”

    People believe that UHNWIs [Ultra-High-Net-Worth Individuals] do not engage in social media, do not make online purchases, etc., or that if they do, it is only through super-exclusive social media sites or at private member’s clubs. This is absolutely not the case,” he concludes. 

    LinkedIn and Facebook are two of the best social media platforms an agent can use to target this audience. You might also consider Instagram ads, Romagnoli suggests.

    Concentrate on emphasizing your expertise in both the luxury market and the local real estate market in general.

    Erin Nicole Davis, citing an Engel & Volkers luxury homebuyer trend report, adds that “… real estate professionals who provide a personalized, high-touch experience when working with these buyers” will be the winners.

    Bonus: You may just end up rolling in referrals!


    PLUS: When you have time…below are some marketing tools to help support your success.

    1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

    Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card!Click Here

    2. The Free 12-Month Done-For-You Strategic Marketing Plan

    The Real Estate Marketing Planner is a powerful 12-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    3. The Free Interactive Real Estate Business Plan

    The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

    4. The Become a Listing Legend Free eBook 

    This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here


      As the market changes and your listing is still for sale 24 hours after they hit the MLS, it’s time to resurrect some of the old-school methods to market it.

      One of the best is the broker’s open. Done right, you’ll get the most important eyes on your listing – those of other agents.

      Sure, it’s usually a cattle call, with agents spending as little time in each home as possible. But yours will be different.

      Yours is one that will slow them down.

      It’s all in the planning

      It takes careful planning to pull off a successful event, and your broker’s open should be considered “an event.” The higher the price of the home, in fact, the more eventful your broker’s open should be.

      Don’t let being low on cash stop you from throwing an awesome broker’s open. Enlist the assistance of your favorite title rep, stager or loan officer.

      Determine the menu. Yes, you need to come up with a way to slow these agents down and stopping into the kitchen or dining room for a snack is the ideal way to do it.

      We’re sure you’ve seen what’s popular at your local brokers open, but here are a few suggestions we got from agents across the country:
      • Platters of sandwiches on various types of bread, cut in quarters, bowls of chips, fruit and/or green salad, bottled water.
      • At morning open houses, consider two or three types of quiche (cut in squares or wedges) small breakfast burritos, fruit and/or a green salad and juice and/or coffee and tea.
      • An assortment of appetizers on platters. You can purchase downright delicious frozen appetizers at Costco and Sam’s Club, or have a caterer create them.

      Showcase your property in a memorable way. (available in the “Flyers” section under Property Flyers).

      After coming up with the menu and shopping list (plates, napkins, etc.), make an agent feedback form.

      Include all the questions you know your sellers would like answered by other agents in your agent feedback form:
      • What do they think of the price?
      • Rate the home’s interior condition on a scale of 1 to 10.
      • Rate the home’s exterior condition on a scale of 1 to 10.
      • How does this home stack up to other homes the agent has viewed in this price range?
      • Anything the home seller (or listing agent) has missed that should be remedied?

      The chances that agents will fill these out are best if they’re near the food and you ask them to fill them out.

      If there’s an incentive, though, the chances are even better. Come up with an interesting prize (even a gift card can be compelling) to raffle off to all those who threw their completed feedback forms into a designated and prominent “drop your entries here” bowl.

      This is a great way for your title rep, stager or loan officer to get involved. Have them sponsor the prize.

      Finally, ensure you have enough directional signs available for that day and determine where you will place them.

      Get the word out

      At one time, broker’s opens were listed in the MLS. Even if that’s still true, in a changing market you may need to do more to get the maximum number of agent boots through the door of your listing.

      Free ways to get the word out about your broker’s open:

      • Announce it at the office sales meeting and, if you attend the MLS meetings, announce it there as well.
      • Make up flyers and get to the aforementioned meetings early. Place a flyer on each chair.
      • Put flyers in the office mailboxes for each agent.
      • If you belong to local real estate groups on social media, post about it. Mention all the cool things they’ll experience if they attend.
      • Send an email to the mega-agents in town. They’re the ones that are typically too busy to hang out on social media. Make your email a visual delight, with eye-catching photos and, again, promises of the cool stuff on offer (food! A drawing!) at the broker’s open.

      You might also want to create a special invitation that you can snail mail to the top buyers’ agents in town and to agents with whom you’ve built a solid professional working relationship.

      Enhance your listing with multiple images and copy opportunities (available under the “Brochure” tab in Luxury Brochures).

      Direct mail is far more powerful in the digital age than at any time in its history.

      Play nice with other agents

      Put your phone away and vow to not pick it up during the duration of the brokers open. Greet everyone individually as they come in and thank them for coming as they leave.

      Invariably, agents who are also friends will show up but don’t get so involved conversing with them that you ignore the other guests.

      The fortune is in the follow-up

      Yes, even with other agents. You never know how one simple phone call or email to thank them for attending will endear you to other agents. You never know how it might prompt their memories just when they picked up that new buyer.

      If you choose to do a mass email, don’t forget to congratulate the winner of the drawing.

      Send panoramic luxury postcards and stand out in the mail (available in the postcard section under Luxury postcards).

      Finally, ensure that you attend other agents’ broker’s opens. They will be far more likely to reciprocate if they’ve seen you at theirs.

      Send Panoramic Luxury postcards from the Luxury Market Series to announce your newest listing, Open House or Sold in style!

      Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are Free killer tools to help your success this year!

      1. The 12 Month Done-For-You Strategic Marketing Plan – NEW 2020!

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

       

       

       

      2. The Free One-Page Real Estate Business Plan – NEW 2020!

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

       

       

       

      3. Get the ALL-NEW Real Estate Marketing Guide “CRUSH IT” 

      The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

       

       

       

      4. Become a Listing Legend Free eBook 

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

       

       

       

      5. The Free Online ROI Calculator

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here