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Insider secrets from author Jack Cotton and agent Joy Bender. How to break into the luxury real estate market.
Citation preview
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