The New Imperative of Personal Branding in Social Networking

English Astronaut Piers Sellers, Photo by NASA Astronaut, Michael Edward Fossum

The key to building a high-volume luxury real estate marketing practice is developing an abundance of high-trust relationships. The more you make the more you earn. Personal branding accelerates the process of building trust in cyberspace.

According to a recent survey by the Luxury Institute, about the ‘Social Networking Habits and Practices of the Wealthy', 7 out of 10 affluent consumers are now members of social networks. If you want to connect with more potential clients and referral sources, reach out and invest more time on these sites. It can yield big dividends if you go about it in a focused manner so that your valuable time is well spent.

With the right focus you can “stack the deck” in your favor to develop more high-trust relationships in less time. Developing a strong personal brand accelerates the attraction of high-trust relationships and referrals through the power of focused communication.

Personal brand done right harnesses the power of focused communication by making your core, authentic identity, i.e., who you are and what you stand for, explicitly and instantly clear to your target market. Sharpness of focus quickens matchmaking because you and your target market can tell, right off the bat, if you are on the same wavelength.

Like-minded people like to do business with people like themselves because it feels so good to be on the same page. The faster you can let your potential clients and referral sources know that you are a match, the faster you can build trust. The faster you build trust, the faster the referrals flow provided there is reciprocity in the exchange of value for value. That is why personal branding in social networking is an imperative for luxury real estate professionals who seek market leadership.

Check Out Personal Branding Case Studies and Company Branding Case Studies

GET FLUENT. GET AFFLUENT!

FOLLOW US ON TWITTER: LuxuryMarketing

The Significant Advantage of being the “Top-of-Mind Brand”

Photo by Francesco Sgroi

Which luxury real estate marketing professional would be the first to come to mind, for the majority of consumers, in your marketplace? The “top-of-mind” brand in any category of product or service enjoys a significant competitive advantage: the lion’s share of the business. In real estate, that professional would most likely do the highest volume of business.

Therefore, an important strategy to consider, as a luxury real estate marketing professional is, if you want to gain top-of-mind status, is to discover a niche or a specific sub-category of the marketplace where you can be the dominant player. Then focus your entire marketing efforts on becoming identified with that niche or category.

Here is an example of how top-of-mind works in branding terms. In Napa Valley there are over 500 wineries (and over 500 real estate agents). If a consumer wanted to select a great Sangiovese wine only a few wineries come to mind. These wineries found a niche that was not crowded with competitors, at least in California.

Sangiovese's claim to fame is its role as the heart of Chianti, Brunello and many Super Tuscan wines though it is gaining ground as a varietal wine around the globe. When grown in a suitable location the grape's soft tannins, succulent acidity and moderately intense cherry and herb flavors make Sangiovese very easy to drink as well as supremely versatile at the dinner table.

One of the first wineries to come to mind for most Sangiovese fans who know Napa wines is Luna. Luna is one of the first stops heading north along the famed Silverado Trail and is well worth the stop.

Another outstanding, but perhaps lesser known winery that produces Sangiovese is Benessere. Many feel Benessere is the finest Sangiovese in the region. But, Luna might come to mind first because of its high visibility along the famed Silverado Trail (location, location, location). The position known as top-of-mind is what we call the prime “real estate of the mind”—a good position to own.

Check Out Personal Branding Case Studies and Company Branding Case Studies

GET FLUENT. GET AFFLUENT!

FOLLOW US ON TWITTER: LuxuryMarketing

The Art of Creating A Brand

Lake Itasca, Minnesota , the source of the Mississippi

In luxury real estate marketing, creating a brand is an exercise of finding your essence as an individual or a company. It must authentically reflect your core values and what you are passionate about. Ultimately, your brand must express, explicitly what is distinct and inimitable about your identity. Here is an example that illustrates this point.

The University of Minnesota (one of Alexandra’s alma maters) sends a quarterly journal which often features a story that illustrates life on campus. The latest issue tells of a fine arts student who devised an ingenious program as part of her master’s thesis. In the process she discovered her unique voice, carved out a new distinctive, uncontested niche as an artist, and thus established her personal brand. Anna Metcalfe is a passionate artist as well as an environmentalist. She combined both of her passions in her master’s thesis and created a newsworthy story that is both heartwarming and creative.

Inspired by Mark Twain’s classic, The Adventures of Huckleberry Finn on the Mississippi River [the Mississippi also flows through Minneapolis] she enrolled 50 teenagers who had summer jobs through an organization known as the Green Team, to join her on an adventure exploring life on the Mississippi.

When she met with the teenagers, they discussed the importance of the river and its function in their lives: watersheds, transportation, pesticides, the health of the river, and how it connects millions of lives in the United States. She also asked them to write their own stories about the river with drawings. These stories were silkscreened on porcelain boats that Metcalfe had molded and fired. Some students told illustrated stories about their first boating adventure with maps of the river. Others included stories about indigenous river plants that they were growing in the Conservation Gardens. One of the most poignant stories was about a student’s family escape across the Mekong River in Thailand contrasted with their crossing of the Mississippi River into a new land of opportunity.

The students met to launch their boats in the Mississippi. Later, the boats were gathered and exhibited in a studio, where the teens were encouraged to regale the visitors with their stories. Metcalfe says. “They were excited to see their drawings turn into objects.”

For the students it was a defining moment in their lives as they may never look at the Mississippi in the same way. For Anna Metcalfe it was a remarkable expression not only of art as a means of communication and enrichment, but also as a definition of her unique brand.

Check Out Personal Branding Case Studies and Company Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Who is the MVP (Most Visible Professional) in your Marketplace?

If your quest is market leadership as a luxury real estate marketing professional, you need to be top-of-mind, the go-to brand in your local marketplace. You need to become the most highly recognized agent, team or brokerage firm internationally. Not only do you need to be the stand-out in the minds of buyers and sellers, you also need to be the go-to agent in your area for referring agents throughout the world.

To achieve this status you must become a master of social media and get connected across the globe. Are you the most connected agent in your marketplace?

Our friends at Proxio, the international MLS and global referral network, and Inman News have launched a search for the 100 "most connected" Real Estate professionals -- the first annual Proxio Most Visible Professionals (MVP) in Real Estate Challenge™.

The 2009 Top 100 Most Visible Professionals will be featured on Proxio’s international website, and the Top 25 will be recognized in a press release and at a “MVP Mixer,” co-sponsored by Inman News, at the Palace Hotel in San Francisco on August 4, 2009, the evening prior to Real Estate Connect San Francisco 2009.

Take the challenge and good luck!

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Personal Branding for Real Estate Agents: Quality Cues- Part 1

For luxury real estate marketing professionals, small things can make a big difference in terms of standing out from your competition. As an example, one of our clients, who is from Switzerland, uses special flat, rounded gold clasps instead of paper clips. These wafer-thin fasteners fold over the upper corner of papers that need to be held together. It is very elegant and impressive. Best of all they only cost a few cents each. Now, these particular fasteners can only be found in Europe. This then becomes one of many, many ways in which she distinguishes herself, in a nanosecond!

In branding terms the fastener is a “Quality Cue”. Quality cues are indications of quality in packaging, displays, product features, collateral materials, website design, messaging, etc. The more quality cues you can offer in your luxury real estate practice the more your personal or company brand will become distinctive.

We thought of our client when we were shopping for coffee at Gelson’s, an upscale market chain in Southern California. Gelson’s recently came out with their store brand of coffee, called Gelson’s Finest. We trust the quality of Gelson’s as a market. So, we were willing to try it because we were certain that they would not put their name on sub-par coffee.

Usually, when a market puts their name on a product it is a way to increase their profit margins and the quality may be less than the known brands. The packaging is also less attractive than the name brand packages. Gelson’s added a couple of quality cues that encouraged us to at least try their new coffee. The packaging is first rate. And, they included an attractive gold clasp to help seal in the freshness instead of the usual bendable plastic strip that wraps around the folded top of the opened coffee bag. How convenient! And, the coffee is good!

As a luxury real estate marketing professional, what are your quality cues?

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Luxury Real Estate Marketing Essentials: The Value of Transparency

TRANSPARENT BUTTERFLY

Luxury Real Estate Marketing Professionals know the importance of disclosure when it comes to representing and selling a property. There are laws that ensure the protection of all parties and the adherence to these is the price of admission, when it comes to longevity in the real estate business. In luxury real estate marketing, it is important to maintain the spirit of transparency regardless of the circumstances that present themselves.

Yesterday, we were in Seattle for the day. Our return was delayed, first for an hour, then another half hour, and finally another 15 minutes. When the plane finally reached the gate, the pilot came up to the check in counter, and explained his day and what had happened that caused the delay. His explanation was believable. He told us of a colleague getting ill on the plane and personally escorting her to her hotel room at his first stop. Then, there was a mechanical glitch that had to be attended to, as well as finding a new co-pilot for the aircraft who arrived in the nick of time, and finally the Seattle tower had them circling the city prior to letting them land.

He did not blame anyone, gave us the facts and assured us that he and the crew would be doing their best to make up the lost time. His sincerity brought applause from the 200 plus waiting passengers, and one of the passengers behind us, said, “He needs a hug!”

In an instant he soothed the crowd with his sincerity. So when things do not go your way, it is so much easier to tell the truth than to make up a story. We all have days when circumstances escalate beyond our control. After all it is much easier to remember the truth, than a well fabricated story. It also speaks volumes about your integrity, and it will be remembered by your clients when they refer you. Incidentally, our flight was on Virgin America. We were impressed, wanted to promote Virgin America,, and delighted at the transparency that the company encourages.,

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Luxury Real Estate Marketing Essentials: Good News!

CUSTOM HOME IN SOUTHERN HIGHLANDS (LAS VEGAS)

SELLS FOR RECORD PRICE

Congratulations to our client, Tanya Murray, of Realty Executives of Nevada, for marketing and selling the most expensive listing to close in 2009 so far in Las Vegas! The 12,207-square-foot custom home is located at 2 Wood Creek Ct. in the exclusive Estates at Southern Highlands and closed escrow for $9.5 million.

Marketing efforts included creating a custom website (www.2woodcreek.com) and dozens of high quality print and electronic marketing campaigns showcasing the home’s magnificent grounds, views and interior finishes as well as custom furnishings.

The home is situated directly on the Southern Highlands Golf Course and features both expansive city and golf course views. A two-story theater. state of the art equipment, a popcorn machine, infinity pool, Baccarat crystal accessories, and Versace china added to the livable opulence this home provides.

Tanya Murray has been successfully practicing real estate in Nevada for nearly 8 years and was named by In Business Magazine as one of the “Top 40 Under 40” in Las Vegas. She can be reached online at www.TanyaMurray.com.

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Luxury Real Estate Marketing Essentials: Peace of Mind & Kindness

The value of your personal brand as a luxury real estate marketing professional is the extraordinary promise of value that you offer your clients and referral sources. Contrary to what most people think, it is not just great service that makes you stand out. Great service is simply the price of admission among top tier agents. Then, what is the added value that can make you stand out?

Think of diamonds. You can purchase a flawless diamond at Macy’s or at Tiffany & Company and get wonderful customer service at both stores. What if identical diamonds (size, weight, cut etc.) were purchased from the same source and sold under different labels. They both would have the same intrinsic value. But, prestigious brands can command a premium price because of the perception of added value and the emotional satisfaction that the brand can bring.

Today’s luxury consumers are beginning to revolt against needless markups on products just as they are questioning the commissions that agents are asking. And, rightly so! Many luxury brands now are finding that they have to justify their expensive price tags or cave-in to discounting. Why is it that certain brands, such as Tiffany & Company, can stand firm with the genuine confidence that they are worth it?

As a luxury real estate marketing professional you must discover your full value in order to command higher commissions; and that value must be defined in other ways beyond excellent service. The added emotional value that must be associated with your brand is the peace of mind and kindness that you offer your clients.

There can be no price tag placed on peace of mind and kindness, as both are in short supply. The key is to attract those clients who can appreciate this level of added value. Then, build your personal brand around it. To quote the Dali Lama, “Be kind whenever possible. It is always possible”.

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Personal Branding for Real Estate Agents: Learning from American Idol, the Finale

This is part fifteen of our blog series entitled: Real Estate Agent Personal Branding: Learning form American Idol. It is a fun and easy way to learn the principles of personal branding. You do not have to be an Idol fan to enjoy!

The Triumph of Authenticity

This American Idol season finale confirmed what was evident last year as well: The triumph of authenticity. Authenticity in personal branding for real estate agents is the most important lesson from this show.

Both finalists are genuine and unpretentious which is what America responded to with a record breaking 100,000,000 (approximately) votes. The fact that more people identified with, and voted for, Kris did not take away from Adam’s success. Nor, did it take away from the other contestants in the top five-- Matt, Alison and Danny who also exemplified authenticity. Certainly, last year’s “Battle of the Davids” was not a war between opponents, but two distinct styles, each with an authentic brand signal.

All five finalists this year were clear examples of distinct brand categories:

Kris – soft rock

Adam -- hard rock

Danny – pop

Alison -- rhythm & blues- female

Matt -- rhythm and blues-male

The nature of the American Idol competition is such that only one person wins. That is not the case in the real estate marketplace. They could have structured the Idol competition so that there was a winner in each brand category. This would then better mirror the competitive landscape in real estate where there can be a market leader in each niche such as condos, waterfront properties, individual neighborhoods, etc. It would also mirror the voting public who votes with their dollars when they actually buy songs or albums. Those who prefer rhythm and blues would not necessarily buy Adam’s albums.

In your real estate practice, always keep this in mind: The fact that people like to do business with people that represent their personal values means that there is always room at the top. There is plenty of business for excellent real estate agents. The key is to make your brand signal so clear and strong that you attract your ideal clients and make it easy for them to identify you as their ideal agent as fast as possible. Simply stated, personal branding, done right, accelerates the match making process and is especially satisfying when that signal is authentic.

This concludes our American Idol series on personal branding. We hope you enjoyed it!

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Luxury Real Estate Marketing Essentials: Be In the Know & Know Your Goats

ANGORA GOAT

There is so much that can be gleaned by luxury real estate marketing professionals in studying the finest products and services that money can buy. The more you know, the more you will have in common with your target market, the wealth of the world. The more you have in common the faster potential clients or referral sources will come to trust and recommend you. Being known as a luxury real estate professional who is “in the know” is one way to distinguish your personal brand of doing business.

Be in the Know About Cashmere

The finest cashmere wool in the world comes from Mongolia and the Himalaya Mountains. Another type of prized cashmere is baby cashmere.. Baby cashmere wool comes from a special breed of goat, Hyrcus. The finest fibers are gathered by combing the kid Hyrcus goats.

To fully appreciate the power of branding just look at the variance in pricing if you were to purchase a kid cashmere shawl from a local merchant close to the source of the wool, compared to buying a similar shawl at a Loro Piana boutique in New York, Las Vegas or Milan, Italy. The price would be many times more in the boutique. Loro Piana is an Italian clothing company that specializes in high-end luxury cashmere and wool products. For their scarves and sweaters made from Hyrcus kid cashmere, they have even registered the name “Loro Piana Baby Cashmere.”

What is the added value of a fine luxury brand like Loro Piana?

• Trust and belief in the uncompromising standards of quality
• Having the desire to champion those values
• Being able to afford what others cannot
• The expression of self-worth or filling the void of the lack thereof
• Being admired for choosing what others agree is the best that money can buy

Not all buyers of luxury real estate subscribe to conspicuous or private consumption of fine luxury services and products. But, if they do, you can differentiate yourself from your competitors by being able to speak their language-The Language of Luxury.

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing

Personal Branding for Real Estate Agents: Promote Your Marketplace More Than You

As a luxury real estate marketing professional it can be strategically advantageous to anchor your locale as a major component of your personal brand identity. Doing so can add significantly to the emotional appeal of your brand because it promotes the fact that you an ambassador of good will in your marketplace. Promoting your marketplace more than you demonstrates your marketing expertise and sells you in the process.

Donna Karan

Here is an example of a luxury fashion brand that incorporates geography in their marketing strategy and how it can be applied to personal branding for real estate agents:

Donna Karan New York (clothes for men and women targeting the urban chic crowd): In a recent article in Interview Magazine, Donna Karan explains:

“When Donna Karan started, I didn’t like the name Donna Karan. I had a real problem with it. I was so used to designing under somebody else’s name that I didn’t want to go out there with my own. I’m sitting in the kitchen, and I see the name “Maud Frizon/Paris, London” on a shoebox. I’m thinking, “That’s cool. What about Donna Karan New York?” Because it won’t be about me. It will be about New York City. Why New York City? Because New York City says the world. I wanted an international brand. Donna Karan’s just another boring name. I want everything to be about New York people living. I mean, everybody relates to New York as a bridge to the world. So that’s how New York came in.”

Our clients, Crown & Crown, AKA The Downtown Crowns (downtown San Diego mother-daughter luxury real estate team): Sharyn and Victoria Crown are experts in promoting their marketplace through their popular blog. And, they are very active participants in their community. Visit their website.

The United States is replete with geographical gems. Which one is yours and how can you demonstrate your marketing expertise by promoting your marketplace more than you?

Check Out Personal Branding Case Studies

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

Proxio, BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown, Facebook

FOLLOW US ON TWITTER: LuxuryMarketing