Ivanka Trump at LAX, Photo by HotshotsWorldwide
What is in a name brand? Everything is
the answer, if your name is Trump. A new luxury brokerage firm opened
in New York, the name said it all “Trump International Realty”.
The Trump name is synonymous with luxury real estate and luxury real
estate development. The name is also associated with success,
experience and victory in the face of defeat. As a luxury real estate
marketing professional, would you join this brand?
The Wall Street Journal, October 29,
2012, reported that Trump International Realty launched last week with a
portfolio of 300 million dollars in listings. The majority of the
listings are Trump holdings, and the organization feels that they will
have no trouble in increasing their listing inventory. Ivanka Trump is
at the helm of this enterprise. Her father, Donald Trump, said
“Ivanka has always felt strongly this is something we can do better
than anybody else”
In this context Trump is a direct
challenger to Sotheby’s, for example, a firm that enjoys instant brand
recognition in the luxury real estate brokerage realm. To succeed,
Trump must deliver on an extraordinary promise offered to the brokers
and agents they recruit. This is equally important to the clients that
they serve.
"Quality of service is more important to
us than simply filling offices," Ms. Trump said. She also noted that
the firm's brokers will be members of the Trump Organization's
"corporate family" rather than being "anonymous member of a 5,000-person
sales force." Ms. Trump says the brokerage will use a traditional
commission model.
According to Mr. Sneddon, managing
director of the new brokerage, “The Trump brokerage plans to focus
initially on the New York region and then to expand to the rest of the
world. Trump already has brought in a number of brokers from other
luxury real estate New York companies.
Will there be a personnel shift in the
New York luxury real estate scene as a result? We think the idea of
being a “member of the Trump corporate family” may offer just the right
incentive for some top agents to jump ship. Time will tell if the
Trump name will become synonymous with luxury real estate brokerage, in
the same way Sotheby’s and Christies has.
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