Luxury Real Estate Marketing – The Power Of Strategy

As a luxury marketing professional it is important to develop a strategy to achieve your goals. A strategy is not a tactic. Tactics are means of achieving immediate goals. A strategy is a long term plan of action. To strategize is to make a deliberate choice of direction which will affect the outcome of your goals. And, that is the power of strategy.

In order to develop a successful strategy it helps to discover those aspects of your business about which you are most passionate. Passion fuels your enthusiasm and sustains your determination. It enables you to stick with your strategy, to hold your vision, even when things do not appear to be working. and also to trust the process of manifesting your vision.

Developing a great strategy is the result of defining, aligning and refining your personal brand and your position in the marketplace. When your strategy is based on what other people think you should do instead of following your own passion, it is likely to fail.

One of our friends, a successful realtor, loved historical homes. She began remodeling several of them, and became an expert in selling them. She knew, through her own experience, what it took to restore these historical homes. She also had a list of vetted craftspeople who could help her buyers and sellers in the restoration process, which made her a communication hub for specialized information. Staying top-of-mind, yielded an abundance of referrals and her highly focused practice thrived.

Her passion led her to join an historical society. Her enthusiasm and participation in the organization created lifetime friendships and more referrals. This was a strategy based purely on passion which never waned; although retired now, she still works with the group.

Successful Real Estate Investing – 4 Principles You Must Follow

4 basic principles that will Prevent Failure & Guarantee Your Success in Real Estate Investing

1st… Without passion, there is no success… real estate investing gets into your blood & drives you to do the things that you need to do to become financially independent & live a lifestyle most people only dream of. If the passion is not there, deep in your core…if you don’t get excited when the phone rings or making calls to prospective buyers & sellers, maybe just move on to something else. To be successful in anything requires hard work & focus, if that’s not real estate, than find something you are passionate about and channel your energies there.

2nd… Never forget that your #1 role is a deal maker…real estate & the money that follows are just by products of taking away the pain of the seller & enriching the lives of the buyer. Never get emotional about a property, the seller or the buyer…but get emotional about the deal.

I have been doing this for almost two decades and the one thing that stays in the front of my mind is how I can put this deal together where everyone wins & I make a profit. It’s all about the deal & you should have several going on at one time to give you the most opportunities to close deals & get the reputation that you are the guy that delivers. When that starts happening, and it will if you follow the system, the money will follow automatically. Worry about the deal more than the money and success is yours.

3rd… Get fanatical about a daily routine…develop your own system & stick with it. As real estate investors, we usually have a lot of “free time” and it is easy to deviate from our daily activities that will ensure success. I can’t stress this enough because I see it all the time. People get into this business; blow a lot of money going through the motions & fail. And then turn around and say something like this…”It doesn’t work, I spent all this time & cash and was promised massive amounts of money if I followed the courses but it’s just a con”.

We all know someone like this, whether it’s real estate investing or some other business opportunity. These people believe in 2 things…

  • You can get something for nothing. In other words, all you have to do is buy the shiny package of CD’s from the late night pitch guy, put it in your closet and then magically, the next thing you know, you’re drinking Margaritas on the beach in Florida with big money rolling into your bank accounts. Ain’t happening
  • That life is fair when it comes to real estate investing. There are tens of thousands of dollars in profit involved when a real estate deal has all the right elements. Stay alert for someone else looking to take advantage of all your hard work and cut you out. This is not being negative, just realistic. Simple truth is that few people care if you succeed or fail as real estate investor so just deal with it & stay aware.
  • Deal with people you trust on your side including a good attorney to draft offers & review documents. If you do happen to find yourself in a situation where someone has taking advantage of your hard work & diligence, turn the disappointments into teachable moments and move on.

Point being is that you have to be almost religious about a daily routine that includes reading your goals & where are you at today in achieving them, researching properties & making calls, cultivating contacts, & stay aware of your business environment. To be a successful real estate is like any other business that requires hard work, determination and a belief in you.

4th… Last but certainly not least, you need to keep learning & stay fresh. This industry is the largest in the nation with trillions of dollars tied to it….& is constantly changing. The recent flood of foreclosures is unprecedented & offers the opportunity to investors that we may never see again in our lifetime. Make sure you are involved in investment groups either online or in person where you can draw off the experiences of others. Dedicate yourself to reading new books or take courses/ webinars on today’s opportunities as far as short sales, bank REO foreclosures and the different ways to finance. Use the internet to access information on fresh property leads, that is where the quick cash can come from.

Just never be hesitant to put offers in on properties that make sense, experience is the best teacher as a real estate investor. All the knowledge in the world is useless if you don’t get into the game. The fact that you are reading this article is a good indication of how serious you are about your success & I applaud you for it. Stay focused, motivated & educated…the system works if applied right.

How to Guarantee Success As a Real Estate Agent

As a real estate agent, you know that success equals money. The more successful you are, the more money you make, right? For the most part, yes. A successful real estate agent will have those commission checks rolling in. Sure there are dry spells. Real estate is a cyclical business. But the long-term successful agents realize that by doing what they do best, they can weather any type of economic storm and market downturn.

If you got into the real estate industry to make money, join the club. So did your fellow agents. But is that your single motivation for working as a real estate agent? While money, especially making large amounts of money in those hefty commission checks, is enticing, it shouldn’t be the sole motivator for your business. If it’s all about the money, then that will become crystal clear to your clients and prospects and you will have a hard time developing a lifelong referral business.

So, what’s the secret of the top real estate agents’ success? It’s pretty simple, really. There are two major components to building a successful real estate business.

The first is to have passion for the real estate industry. If you are passionate about real estate it will shine through in everything you do. Your expertise will come naturally because you stay on top of what is happening in your market. You will network with professionals who can help your clients and provide them an all-around excellent experience, from lenders to title companies. You will exude confidence that clients can feel comfortable with.

Lacking passion for the real estate business? It will show. It will show in your lack of knowledge. It will show in your lack of enthusiasm. It will show in every aspect of your dealings with clients and prospects. And in the end, lack of passion will cost you. Because who wants to work with a real estate agent who doesn’t care about his own business?

The second component necessary for a real estate agent’s success is the true desire to help others. You’re working with people who have goals. Goals to buy a home. Goals to sell a home. Goals to build a real estate investment nest egg. Without clients, you can’t make a deal. Without a deal, you can’t close a transaction. Without a closed transaction, you can’t get that lovely commission check.

It boils down to the fact that you have to want to help others achieve those goals. If you don’t care about your clients’ goals, then you don’t really about your clients. And that will lose you clients and certainly not gain you any referrals or additional transactions down the road with the few clients you managed to work with.

Successful agents have their clients come back to them for every real estate transaction. Successful agents get referrals through their client base because of the good word-of-mouth from past clients. Successful agents make each and every client feel like she got the best help possible from a real estate agent who cares.

Commercial Real Estate Agents – Passionate Prospecting Really Works

It may be a bit hard to believe but some commercial real estate salespeople really love prospecting. They have a real passion for the process. It directly follows that those salespeople on average create more listings and earn more commission than any other real estate agents.

You could say that there is real a formula here for getting results! It’s not hard to understand, but it can be hard for some salespeople to do.

So how do you create this momentum and passion for the networking and prospecting process? How can you make more cold calls every day? In one simple answer, you really do need to change your thinking about the process. If you have the right internal thinking aligned to your prospecting actions, you will get more results.

New Prospecting Formula

For this reason, if the prospecting process is the new formula for you to build your real estate business and career, start shaping your thinking at the same time as taking the right actions.

As you start to get results, the thinking and ideas strengthen. Soon you can become a top commercial real estate agent. It takes about 4 weeks of prospecting for the process to be accepted as a new habit in your diary.

Your Model?

So let’s look at a typical prospecting model in commercial real estate today. Who do you need to contact? Here is a list:

  • Property owners
  • Property investors
  • Owner occupiers that run businesses
  • Business owners
  • Tenants occupying premises
  • Property Developers
  • Franchise groups
  • Solicitors
  • Accountants

In this simple list of people there is a massive amount of opportunity. There is also a lot of work required to ‘open the doors’ to many people, and some will be harder to contact than others.

This then indicates that you should start a prospecting system that you can stick to each and every working day. Consistency and persistence in prospecting will get you further and faster in your commercial real estate career than any of your competitors.

Start the Challenge of Prospecting

Are you ready for the challenge? Here is a system for prospecting that may be of some help to you today:

  1. Define your territory geographically so you know where to find the people that you should talk to.
  2. Understand the property type that you are focusing on. That will help you with the right market knowledge and information to use in presenting and pitching your services.
  3. Research new people to contact each day. The best time to do that is each night after the evening meal. Create a list of 10 to 20 new people to contact the next day. The local business telephone book is a great place to start.
  4. It takes considerable time to chase down the owners of some properties. On that basis, make it a goal to research the property owners one at a time. On average you should find about 5 new property owners per week to talk to.
  5. The relationships that you create with solicitors and accountants can be very productive. They have clients that need property help from time to time.

Prospecting is not hard; it is just a consistent and continual process. Start the system today and shape your thinking to the actions that you need to take. Over a period of 3 months you can make massive gains in market share and listings using this process.