Luxury Expert Agent Panel at NAR 2009

The real estate market may be down, but interest in the luxury market is still high, as evidenced by attendance at the Luxury Expert Agent Panel presentation at NAR.   Three of our Institute members  packed the room!  All 400 chairs in the room were full and a few people managed to squeeze in to stand at the back before the room monitors closed the door and began to turn people away. 

Those who made it in were taking notes as Bruce Kink of The Kink Team /Keller Williams, Houston (TX); Carole Smith from Esslinger, Wooten, Maxwell, Inc. in Miami (FL); and Anita Rich from the Rich Group/Keller Williams, Los Angeles shared information and ideas about how they have continued to prosper in today’s market. 

If you missed the session, their three presentations are available for you to download below.
As panel moderator, Institute Founder Laurie Moore-Moore pulled six “keeper ideas” from each presentation as a quick summary of some of the key points for attendees.

From Bruce Kink

1. As wealth goes up, so does Internet use – so have an Internet strategy which includes a property website for each listing. Include complete descriptions, photos, floor plans, site plans, inspections, and more!  Then drive prospects to the websites.
2. Know the luxury market.  Statistics = Credibility.
3. Remember you are selling the lifestyle of the community as well as the home’s lifestyle.
4. Great photos add marketing power.
5. VIP invitation-only events are good marketing tools at the luxury level.
6. Network with top luxury agents locally and nationally.

Bruce's Presentation (PDF 1.6 MB)

From Carole Smith

1. Carole did a case study of a marketing plan for a home which was designed to house and display an art collection.
2. Discover your listings “Unique Selling Proposition (USP)” – every home has a story, it’s your job to tell it.  The USP is what you use to differentiate your home in the marketplace.
3. To discover a home’s uniqueness start by asking what the seller liked about the home, list the features, amenities, and negatives. 
4. Name your luxury listings (Carole’s listing was named after the sculpture at the entrance).
5. Market jointly with others who are trying to reach the same clientele you are targeting (in Carole’s case she built some of her marketing around an art show and local art galleries).
6. Involve the sellers, make them proactive in the marketing of their home.
7. Use public relations to create buzz.  It is inexpensive, affordable marketing.

Carole's Presentation (PDF 600k)

From Anita Rich

1. We don’t need a “real job,” we are in the best profession!  It is important to continue to build skills as real estate professionals – education is a key to success.
2. There is power in remembering to ask for the business
3. Take the time to educate yourself about your luxury market by price range. Know the stats for each price range and know the inventory.
4. Do something creative to establish rapport.  Anita share photographs of the LA area from the 1900s.  This gets the conversation going and breaks the ice with a seller prospect.
5. Get involved in local arts, civic, or non-profit organizations.  Give back to the community and build relationships.
6. Network, network, network with other luxury agents in your market.

Anita's Presentation (PDF 1 MB)

A big "thank you" to all of them for sharing their expertise and insights!