how to break into the luxury market

Joy Bender Jack Cotton

A Webinar by HouseHunt Inc.

Joy Bender is a Certified Luxury Home Marketing Specialist in San Diego, CA. She is a member of the Million Dollar Guild and the International Real Estate Federation FIABCI-USA.

Jack Cotton is an expert on buying and selling luxury real estate. His three books on the subject are all Amazon.com best sellers. He is also a nationally known speaker.

WHY LUXURY?

OysterHarborsEstate.com $19.5m

OstervilleEstate.com $14.9m

OstervilleEstate.com $14.9m

Real Estate Market Is Where You Find Most Agents. They Think you have to be…

– Born Rich– Well Connected– Be A Great Golfer

• Some Try By…

SITTING ON THE SIDELINES OF THE LUXURY

• Over Price• Over Promise• Over Leverage And Spend On

Marketing• Under Charge• This Approach…

FALSE STARTS

LUXURY OFFICE

John Cotton, Jr. CRB, CRS

7 Steps to Break into Luxury Real Estate

1Map Your Market

Create benchmarksEstablish Market Expertise that others valueHNWI’s

CATEGORIES OF HNWI

• WANNA’s• KINDA’s• REALLY’s• SUPER’s

COMMON TRAITS

• Less than 5% of US population… 1% 2,460,000

by a more strict definition**

• Crazy spends on 1 or 2 things…

• Like to be unique• Hate to be

manipulated

• Complete 2 Year Sales History• Assessment Ratios• Absorption Rates• MLS Stats• Benchmarks

• Price Per “SOMETHING”• Prevalent Builders & Architects• People of Note

MARKET MAPPING

MARKET MAPPING

MARKET MAPPING - Kennebunkport,

ME

2Be Different & Better

S.W.E.T.ing your USP’s. HNWI’s want to be unique, they hate run of the mill or being part of the pack. You need to develop Unique Selling Propositions that create value in the minds of the affluent people in your market.

• Strengths

• Weaknesses

• Everything they do

• Turn Things Around

SWET THE LEADER(s)

3Opening the Gate.Affluent people have gatekeepers, sometimes more than one. Who Are They? Where are They?

Most agents view gatekeepers as obstacles. Learn to make gatekeepers your allies by bringing value to them and their wealthy clients.

Turn Gatekeepers to Allies

ACQUIRE EXPERTISE

• Market & Value• Pricing• Market

Preparation• Marketing• NegotiatingDesignations

• Attorneys• CPA’s• Trust Officers• Investment

Advisors

GATE KEEPERS

Your Expertise in…• Abatements• Trust CMA’s• Writing• Speaking

MARKETING TO GATE KEEPERS

4Exceed Expectations with Process

Create your Luxury ProcessesAffluent clients DEMAND;• Consistent• Dependable• Reliable results. You cannot accomplish this without processes and systems.

• Pre List Package– Contents

• Delivery• Make First

Appt Like Second

PRE-LISTING PROCESS

• Pre-Listing• Two Steps• Performance

Art

LISTING PROCESS

5Overcome the big “O”. DON’T let it hold you backThere is one objection that you will get from your first few luxury clients. This is the same objection that “haunts” many agents who want to break in to luxury real estate. This objection is the number one reason why many agents stay on the sidelines. The Goal is to make this “shortcoming” a benefit in the eyes of your luxury clients.

The Big “O” and Other Objections

• Don’t Run—Don’t Hide• Head On• Limited Edition• “Make My Mark”• Every Move I Make Every Breath I Take…• Last Thought -- First Thought• You’ll Be Thrilled

5. THE BIG “O”

6Your First…

Luxury listingUse a killer prelisting presentation, anda killer listing presentationMore Process

• Your Process– Pre List– Listing Appointment– Second

Appointment• Listing

Presentation– Everyone– Company– Your USP’s

FIRST LISTING

7Get it sold and tell the world

Now that you have a luxury listing, learn the unique, innovative and proven methods of marketing it. Then tell the world so you can do it again.

Let’s Do It Again

HARD COVER BROCHURES

PHOTOS

WWW.

DIRECT MAIL

• Quality• Length• Title & Transcripts for SEO• Posting• Consumers love a PLAY button

VIDEO

Breaking Into The High End Of Your Market

JOY BENDER

Entering the luxury market in a new community with no personal network

Overview of Househunt and Internet Leads impact to my business ROI

Evolution and current team structure

NEW TO THE MARKET

Both online and offline Appropriate transportation Certifications, Affiliations, and Credentials The Institute For Luxury Home Marketing

http://www.luxuryhomemarketing.com Luxury Home Council

http://www.luxuryhomecouncil.com/ FIABCI http://www.fiabci-usa.com/ NAR Certified International Property Specialist

IMAGE IS EVERYTHING

Country Clubs, private schools, boarding for horses

Recent public improvements to beaches, roads, new schools

Future proposed community enhancements or environmental issues

COMMUNITY KNOWLEDGE

LEAD ARRIVES FLOWCHART

Action Items Luxury Agent Tips

Receive Lead

Immediate

Phone Call

High Energ

y

Open Ended ?s

Know all

properties

viewed on your

site

Confirm All

Contact Info

Get Name

of Spous

e

FIRST PHONE CALL CHECKLIST

Find out what’s important

to them.

Confirm time frames for

intention to move.

Cash or Loan?

End phone call with

next steps!

One of the most common immediate objections I receive is “I already have an agent.”

Response: “I appreciate your loyalty. Over 80% of our clients already have a real estate agent in mind when we begin working together.  I have one of the most successful real estate teams in San Diego.  Due to the amount of business we do our relationships with San Diego brokers are very strong and we constantly get heads up on pre-market property.  It has helped many of my clients gain access to non MLS pocket listings. Why don’t we agree to keep an open mind?”

I ALREADY HAVE AN AGENT

One of the second most common objections I receive is “I’m just starting my search we aren’t ready yet.”

Celebrate the long process that is to come.

Response: “Many of my clients are just in the preliminary stages of researching homes when we first meet. I am happy to help you when the time is right for you.”

I’M JUST BEGINNING MY SEARCH

Zillow, Trulia, Estately, Movoto, Refin, individual competitors and brokerage websites

Local Real Estate magazines

YOU’RE NOT THE ONLY ONE

Handwritten Notecard www.papyrus.com

Institute For Luxury Home Marketing business card jackets, luxury note cards, member seals http://www.luxuryhomemarketing.com

Altosresearch.com Personal IDX

HIGH TECH HIGH TOUCH

HIGH TOUCH MARKETING

High Net Worth Individuals are successful people and very busy. They often do not respond courteously to your emails, texts, and calls.

But they are watching and listening to you, and will let you know when you can be of assistance.

Therefore you must never give up but be very careful with your follow-up.

TALKING TO THE MOON

One of the best ways to communicate with an uncommunicative client is by responding to the listings they look at

Send videos, information you know about the complex, neighborhood, community

Appropriate confidential remarks to share with the buyer

LISTING UPDATES

Joy’s real estate articles have been published nationwide in over 358 newspapers, online news services, and magazines.

Most notably the Wallstreet Journal Marketwatch, The Boston Globe, nationwide Business Journals, Reuters, The San

Francisco Chronicle, CNBC, and The Houston Chronicle. Additionally she has been interviewed on the local FOX 5 San Diego TV station regarding the San Diego Real Estate Market.

15% off of the final sale price (please note that this cannot be utilized on other specials or promotional deals):

HOUSEHUNT-15 

http://www.ereleases.com

GETTING PUBLISHED

PREPARE FOR SHOWINGS

You’ve already asked listing

agent all questions

Familiarize yourself with route

the day before. Have it

plugged

into GPS.

You’ve already asked listing

agent all questions

If destination is not GPS

friendly, have directions

hand-written.

PROPERTY KNOWLEDGE

Comparable Homes in the Area Calculated Price

per Square Footin Past 6-12 months

What is Covered In:• HOA Fees• Landscaping• Cable TV• Electricity• Water

In Condos:• Community facilities• Parking policy• Vacation rental or long term policy

Qualify the luxury home buyer

Don’t waste your time with Fake Rich buyers

PSEUDO RICH

Moleskin Folders For Showings http://www.moleskine.com/en/collections/model/product/folder-mag

Clean car Premium water

SHOWTIME

FOR MORE INFORMATION

Interested in an exclusive HouseHunt territory?

Want more information on the luxury market?

Call:

or Visit:

657.215.5236

http://www.househuntnetwork.com/luxurywebinar

Free Down Load

www.LuxuryBusinessPlan.com

Started January 2014

COURSE FORMAT

• 7 Modules Averaging Up To 1 Hour.• Each Week You’ll Receive an Email With

Link to Videos and Workbook For That Module.

• Each Module Broken Into 2 Or 3 Sections For Easy Start And Stop Study.

• You Can Access And Replay Any Time for At Least 1 Year

• Assignments At End Of Each Module.• Two Live 60 Minute Q&A Webinars• Investment $1,095

Enter HouseHunt Code LAA500

Pay only $597 ($500 Savings)

www.LuxuryAgentAcademy.com

FOR MORE INFORMATION

Interested in an exclusive HouseHunt territory?

Want more information on the luxury market?

Call:

or Visit:

657.215.5236

http://www.househuntnetwork.com/luxurywebinar