Monday, June 13, 2011

Luxury Real Estate Marketing: The Heart of a Champion

If you want to become the dominate luxury real estate marketing team in your marketplace or niche therein, you and your team must have the heart of a champion. This post is dedicated to a true champion, Dirk Nowitski and the entire 2011 World Champion Dallas Mavericks team and franchise.

Dirk was one of only five players in NBA history to win the championship while being the only NBA All-Star on the team. Only Nowitzki and three other players have averaged more than 25 points and 10 rebounds in the NBA playoffs. Only Nowitzki and Kareem Abdul-Jabbar have ever had four consecutive 30-point 15-rebound games in the playoffs. Dirk is the only player in NBA history to get over 100 blocks and 150 three-pointers in a single season.

The Mavericks were not the favored team going into the playoffs. Nor were they expected to win in the finals according to most media pundits. But, they had a strategy. And, at the core of their strategy was their essential strength: cohesive teamwork that was consistently evidenced on the court and courtside.

In marketing luxury real estate as a team, it is essential that you assess your core strengths. Perhaps nothing is more important in building a championship real estate team than strategic thinking. This involves uncovering, identifying, and developing non-obvious opportunities to create value for your target market, extraordinary value that differentiates you from your competition. It necessitates challenging your assumptions about your current value proposition and re-engineering your strategic plan if you already have one in place.

As a team or a company, strategic thinking is best conducted in brainstorming sessions which can be fun and exhilarating if you set the right tone. When you brainstorm you are tapping into the realm of imagination which is the source of fresh, new ideas. The entire purpose of brainstorming in this context is to challenge conventional thinking.

Brainstorming should be open to all team members. However, as the leader of brainstorming sessions it is important to set some ground rules. When we brainstorm with our clients, whether the session is for an individual agent, a team or company, we introduce the concept of the “bulletin board”. The idea here is to just let all ideas that you hatch have a place on the board without criticism or immediate evaluation of its merit. You never know when a fragment of one idea can trigger a flash of brilliance that makes its way to you new strategic plan.

The very process of brainstorming on strategy not only develops a vortex of creativity where great ideas are born, but it also can create an atmosphere of trust that builds cohesive teamwork. If it feels safe to contribute to this “mastermind” everyone can own the strategic plan that emerges. Under these conditions the likelihood is high that the plan will be executed with minimum hassles.

To Dirk, the Mavericks and to all of you luxury real estate teams who have the heart of a champion we salute you. We understand what it takes to establish innovative strategies to out-think your competition and we know that it is cohesive teamwork that is at the core of your success.

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