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Estate Of Mind Podcast Highlights: Leaders in Luxury With Special Guest Steve Yastrow

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We had the distinct privilege of hearing from Steve Yastrow, business advisor, Institute for Luxury Home Marketing Instructor, and best selling author of the book, Ditch the Pitch. As a former senior Marketing Executive of Hyatt Hotels, and president of Yastrow & Co, Steve is a passionate advocate for nurturing client relationships over “selling”. 

In this episode, Steve addresses how to build genuine relationships using language for your long-term real estate success. This is something the Institute for Luxury Home Marketing advocates for, and the reason why they are now offering Steve’s Ditch the Pitch program as a new certification course for all Institute members.

In our last episode, we spoke about inbound marketing and attracting your clients with expertise and valuable information online rather than chasing them down with pitches and advertising. 

Steve’s approach takes this a step further and explains how to continue that relationship in person without making clients feel like they’re being sold. In fact, Steve goes as far as saying your goal as an agent isn’t just to make your clients like you, but to make them love you.

In this episode, you’ll discover…

  • Becoming a resource and confidant to your clients

  • How you can make customers commit to you

  • Connection through beliefs and actions

  • How to create an impactful customer experience

  • Using language and storytelling to create customer beliefs

  • Guiding customers from their challenges to the goal

  • What makes a relationship a real “We” relationship 

  • The concept of Customer vs. Client 

  • Transaction vs. Encounter

  • Creating real customer loyalty

  • Turning presentations to conversations

  • What is a conversation that really matters? How do you have genuine dialogue?

Episode Highlights:

1. Transactions Vs. Encounters

In this episode, Steve explains the difference between transactions versus encounters and why it matters. Transactions, he says, are simply exchanges between you and a customer in which your relationship either stays the same or worsens. An encounter, on the other hand, is an exchange that makes your relationship with a customer better.

Encounters are more personal, more accommodating, and more authentic. This is the goal for any and every exchange with a client or prospect, and is even more important during this time when people need extra support. 

The Institute for Luxury Home Marketing has long been teaching students to follow this approach. Growing your practice for long-term success relies on creating positive encounters that result in long-lasting, mutually beneficial relationships. 

2. Stop Making Listing Presentations

Steve tells us the best way to win a listing is to ditch the presentation and have a conversation instead. People are busy, especially affluent clientele, and even the best presentations don’t do enough to engage your prospects. Instead, people can feel like you’re talking “at” them rather than “with” them. 

By having a “listing conversation” and presenting the idea as such, people are typically more receptive to what you’re saying. This gives them the opportunity to feel collaborative with you, rather than feeling like they’re being sold. 

3. Use Stories In Your Marketing

If you’ve ever been to one of our Luxury Live events, you know that stories capture people’s attention and help them picture themselves in those stories. 

Steve reminds us that the average American is exposed to thousands of marketing messages every single day. Simply rattling off your credentials or benefits, or only presenting specifications on your listings, doesn’t do much to stand out in a sea of advertising. He tells us that using stories in your marketing messages help people better understand and remember your message. 

4. Ditch the Pitch

Steve’s bestselling book, Ditch the Pitch, inspired a new members-only course, offered only through the Institute for Luxury Home Marketing. 

Ditch the Pitch takes all of the concepts Steve presents in this latest episode and turns them into actionable steps for agents to form deeper, more profitable relationships with clientele. 

6. The course goes more in-depth on topics such as how to…

  • Avoid losing clients to other agents and develop skills to motivate people to do business with you. 

  • Quit struggling to gain referrals and learn how to build stronger business relationships. 

  • Grow your luxury marketing business and gain tools to develop lasting partnerships and build a strong referral network to grow your luxury business.

If you are already a member of the Institute of Luxury Home Marketing, this course is available in your membership portal at a special introductory price through the end of May.

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Estate of Mind can be found on every major podcast platform, including Spotify and Apple Podcasts. When you subscribe for free, you get bi-monthly access to our best, most exclusive content from our Members-only events, world-class instructors, and accomplished alumni. Find your podcast channel on our Estate of Mind Podcast page and subscribe! 

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