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Tuesday, May 14, 2024

luxury marketing

    The Spotlight Feature Property Magazine is shown above. To see more, CLICK HERE

    While it certainly feels like everything we do in today’s world is digitized, printed marketing is a powerful medium with an impressive 29% average ROI.

    In fact, many organizations are returning to print options as a facet of their overall marketing approach. Personalized magazines have a long history as an effective strategy to build brand trust and loyalty.

    And, real estate professionals are beginning to understand this and use this unique tool to engage their audience and create relationships.

    1. Branding sets the stage

    Digital tools can help professionals reach a broad audience, but a personally branded print magazine is a way to create an entire atmosphere that engages readers through multiple senses.

    A magazine can sell more than just a few properties—it can also sell the lifestyle and vibe of the property and neighborhood. People build emotional connections with homes they can see themselves thriving in, and placing a curated, personalized magazine in front of them helps them visualize the life they want.

    The Spotlight Magazine Back Cover. Learn more, HERE
    2. Cuts through the online noise

    Internet listings can potentially reach a global audience, but getting lost in a vast online crowd is easy to do. Standing out is a challenge in a sea of listings.

    Many customers respond positively to what feels like a personalized touch—and that’s where your branded magazine shines. By incorporating local activities and businesses into your magazine you can deliver an experience that feels tailored to the reader and the local area.

    Online marketing is so ubiquitous that it becomes overwhelming, and many people tune it out. In a branded magazine, your personal showcase is part of an overall story and is far more likely to make an impression.

    3. Partners well with other marketing

    Personally branded real estate magazines are not the opposite of digital or social media marketing; they are the partner to it. A magazine is a tangible asset that can give potential clients something physical to browse through and engage with.

    Links within the magazine can direct them to virtual tours, photos, and more. Pairing branded print magazines with online resources can deliver a more holistic experience for clients.

    4. The link to luxury

    Luxury listings often have many amenities, but simply listing them off is not very attractive. Many potential clients in the luxury market actually expect branded print magazines to be available and view them as a sign of exclusivity.

    A tailored, slickly photographed magazine communicates that this property or area is truly something special, and now that the client has discovered it, they will want to be a part of it.

    5. Lasts long after it’s received

    Real estate magazines can be long-lasting gifts that keep giving. Even though the properties listed inside may have long since sold, the magazine can continue to deliver leads and positive engagement.

    The ‘story’ that the personally branded magazine tells will still draw clients in. Additionally, statistics show that magazine media can create more positive feelings than other media types.

    Personally branded real estate print magazines add value to clients by delivering relevant and helpful information.

    This type of marketing also cultivates a memorable and trusting relationship. Consider integrating The Spotlight, Feature Property Magazine, and/or Homes & Life Magazine into your portfolio of client outreach for a cost-effective way to drive listings and increase meaningful engagement.

    To send out The Spotlight Magazine or Homes & Life Magazine or learn more, click the “See Your Magazine Now” yellow button below.

    Watch This Video Below to Learn How to Easily Send Out a Homes & Life and The Spotlight Magazine!

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


    1. 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 when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    2. The BusinessBase, SOI building system

    The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – 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

    5. The Take a Listing Today Podcast

    Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

      If you follow the annual “The 1000” list from RealTrends, you may wonder how those agents make it so big in real estate.

      In our opinion, the list tends to be a bit misleading, with team agents often listed as solo and vice versa.

      Then, there’s Ben Caballero, always ranking number one in the “Individuals by Transaction Volume” category.

      He is most likely an excellent agent. But he is not your traditional “solo” agent, as the category implies.

      He “oversees a team of 22 people” who helped him sell “$2.2 billion worth of homes in 2018,” according to BusinessInsider.com.

      For the purposes of this blog post, however, he makes all that money by specializing in a real estate niche. He sells only one type of home, which happens to be first on our list of profitable real estate niches.

      New Home Sales

      Caballero “only sells new-construction residential properties and he only works with volume builders, or companies that build several hundred homes per year — sometimes up to 3,000,” according to BusinessInsider.com’s Katie Warren.

      He and his team sell, on average, 92 homes per week.

      The niche is competitive and requires a bit of education before pursuing it. There is additional paperwork and, often different contracts than you’re accustomed to.

      Financing may be tricky, and if the buyers don’t have an agent, your job description grows exponentially to include assisting the buyers through not only the purchase process but helping them choose a lot, floor plan, options and more.

      Some builders require the agent to come up with a marketing plan, track and follow up with leads and develop relationships with title reps, lenders and others.

      Some new home sales agents are employees, with employer-offered health insurance benefits, retirement plans, paid time off and bonuses.

      Obviously, Caballero is proof positive of the amount of money it’s possible to make in this real estate niche.

      The Luxury Market postcard is available in the postcard section under the Luxury Market Series.

      If you’re curious about who is hiring new home sales agents and the job requirements, check out some online job boards, such as at Indeed.com and Monster.com.

      Luxury Homes

      When discussing lucrative real estate niches, luxury home sales is sort of a no-brainer. High-end homes are more expensive so commission checks are bigger. If you can develop a decent volume, you’ll be all set.

      Knowing you want to specialize in luxury property and knowing how to go about it, however, are two different things.

      First, you’ll need to truly understand your target audience. What are their needs? How do they differ from buyers and sellers of lower-priced homes?

      Then, you’ll want to know how to reach the affluent. Marketing to them isn’t the same as marketing to other real estate consumers.

      Finally, consider micro-concentrating within the luxury home niche. Choose to work with certain luxury clients, such as those who share common interests (belong to the same country club, work in a certain industry).

      The Picture Yourself Here postcard is available in the postcard section under the Millennial Series.

      If you plan on specializing in listing luxury property, check out this video from Michael LaFido.

      Focus on a Generation

      There are currently four generations of Americans who are most actively involved in buying and selling real estate.

      Our youngest cohort is Gen Z, born between 1996 and today. This means that the oldest turned 23 this year. Believe it or not, these “youngsters” are buying homes. And, as the generation ages, more will be jumping into the real estate market.

      Next in time are the millennials, born between 1977 and 1995 (they are between the ages of 24 and 42 in 2019). They number 83 million, more than the baby boomer cohort.

      According to NAR, millennials are currently the largest group of homebuyers in the U.S. at 37 percent. That’s five percent more than baby boomers.

      Forget the moaning and groaning over how “broke” they are. Yes, many have student loan debt. Many others, however, are finding ways to pay down this debt and acquire a decent credit rating.

      Millennials, on average, boast an average FICO® Score of 665, squarely in the “fair” range according to Fair Isaac. The older of the group have the best scores and purchase more expensive homes.

      Next comes Generation X, born between 1965 and 1976. They’re often referred to as the “forgotten generation,” ignored by the media and marketers.

      These folks, in our opinion, are those the savvy agent will pursue. Why?

      They are in their peak earning years, they (by and large) need larger homes and they typically have a home to sell. Plus, they have experience with real estate so they don’t require as much education and hand-holding as the younger generations.

      Finally, we take a look at baby boomers. Born between 1946 and 1964, this group is now between the ages of 55 and 73. Since the most common age to retire is 62, many of the members of this cohort are still working and make up the nation’s highest wage earners.

      Since NAR studies show that the average real estate agent is a woman in her 50s, this may just be the ideal real estate specialty. Marketing is so much easier when you have something in common with your target audience.

      Get more information on how to market to Gen Z and millennials at the Center for Generational Kinetics’ website. Target boomers more effectively by reading up on them at KEAP.com (be aware, though, that the author got generational birthdates wrong) and SmallBizTrends.com.

      There are also a number of baby boomer-specific blogs that are worth a look:

      Send the Too Much House postcard from the Life Event Series to a targeted list of Baby Boomers.

      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. 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

       

       

      2. “Get More Listings” Free Online Webinar

       

      “Get MORE Listings & Begin to Dominate Your Market!” Free online webinar. Learn the 3-7-27 strategy for explosive growth, why 95% of agents have less than 20% market share, and how to become the agent everyone competes against. – Click Here

       

       

      3. The 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 when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

       

       

      4. The Free One-Page Real Estate Business Plan

      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

       

       

      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

      I recently spent time interviewing Michael LaFido, a top-producing Realtor, and luxury real estate consultant. Michael is the founder of the Luxury Listing Specialist Certification (LUXE) that many are calling the “new standard” for marketing luxury homes today.  Michael is also the author of the books “Marketing Luxury” and “Luxury Listing Specialist” & he has been inducted into the National Academy Of Best Selling Authors.

       Q: What is your definition of a luxury listing?

      I define a luxury listing as three times the average home price for any given market. If the average home price is $200k, luxury would be defined as $600k and up. There is also a tier below luxury referred to as “higher end”, which I define as two times the average sale price for that market. In the above example, $400k would be considered “higher end”.

      Q: What are the secrets of appealing to a luxury seller?

      First, nobody cares how much you know until they know you care. You have to be authentic and truly care. There are agents that come across poorly because they are only bottom line driven and a seller will see through that. Being real and likable is important.

      However, the biggest hurdle for many agents is penetrating the inner circle of trust. It can be difficult to penetrate this circle when dealing with high net worth individuals, they tend to be more guarded and untrusting.

      A luxury homeowner will rarely give an opportunity to someone new and unknown to them. That is unless the agent has similar properties in their portfolio. Which is why a big part of what I do in my training is give agents the tools and resources to attract luxury sellers versus chasing them. Once an agent has gone through my program and has achieved our certification, they can leverage this certification as a third party endorsement.

      Q: What advice do you have for agents curious about entering the luxury market?

      The first step is more psychological than anything. An agent has to believe they can do it. Many agents have what I call limiting beliefs that are preventing them from breaking into certain markets.

      Some of these beliefs include, I have to be licensed for X amount of years before I can sell high-end properties. Or I have to be with a certain brokerage. I have to live a luxury lifestyle, have a high net worth, and live in a big home or drive a certain car.

      These beliefs are all false. I’m living proof. I have several properties on the market, $7 million and above in the Chicago land area and I came from a blue-collar past.

      Recently I was in Las Vegas and a past training student approached me stating, “Hey Mike I attended you’re training a year ago and I just landed my first trophy listing for $850k.” She won this listing as an individual agent up against a power luxury team.

      Another seasoned agent who never listed above $550k before she completed my training nine months ago said, “Michael, before your class, I would never have gone on a million dollar listing appointment.” Within two months of completing the training, she had a $5.3 million dollar listing appointment.

      Q: What have been the greatest Aha moments for agents taking your certification?

      Recently, after a training, I took agents over to an $11 million dollar mansion. I gave a tour of the property and insight into how to secure a listing like it and get it sold. I encouraged the agents to take selfies and create Facebook live videos inside the mansion as a way for them to market themselves from within this luxury property.

      This tour of a multi-million dollar home was an eye-opening experience for many agents. Not just being in the environment, but communicating with their audience from within an $11 million dollar home broke down barriers and turned fantasy into reality. It’s important to put yourself in the surroundings of where you want to be in your life.

       Q: How do agents begin to break down the mental barriers to entering the luxury market?

      The best place to start is by increasing your income from where you currently stand. If your average sale price is $200k try and push it to $260k or from $300k to $390k. This is a smaller goal, to begin with, that offers a big result (a 30% income increase).

      Also, add higher-end properties to your portfolio. A financial portfolio includes some high and some low-risk investments. Diversify your listing portfolio in the same way with some higher listings as well.

      Many agents say, if I take on a luxury or a trophy listing, that’s going to mess up my averages. It’s true they take longer to sell and cost more money. However, there is a positive overall effect on your portfolio and an annual income that can’t be denied.

      Q: For agents interested in learning more what’s their next step?

      Watch my Luxury Blueprint Video Series (linked below). It’s a three-part series on how to break into and sell more high-end and luxury homes and we also include some other freebies.  An agent can also listen to our podcast “Luxury Listing Specialist” on iTunes or Stitcher. To watch Michael LaFido’s Luxury Listing Blueprint Video Series, Click Here. For more information on Michael’s Luxury Listing Specialist Certification Click Here.

      Always know that we are here to help you in any way we can.  Call our support team at 866.405.3638 if you would like help creating your new mailing lists or marketing materials.

      PLUS: When you have a moment…here are 3 Free things to check out that will help you CRUSH IT in 2018!

      1. The Free Real Estate Business Plan Outline

      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 the perfect one page Online Real Estate Business Plan – Click Here

      2. 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

      3. The Free Done-For-You Strategic Marketing Planner

      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, Listing Inventory, Geographic Farming, and Sphere of Influence – Click Here

      Also…check these out 🙂

      Turn One Listing Into More – & all from your mobile phone

      Automate Your Just Listed/Just Sold Postcards – with MLS Listings

      Become a Neighborhood Brand – with the Market Dominator System

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