Luxury Real Estate Marketing Essentials: The True Value of Luxury- Part 1

As a luxury real estate marketing professional it is important to tune into the way in which opinion leaders define luxury—not just those in the real estate realm. It will help you ascertain your own definition of luxury. Here’s an interesting quote about luxury and the recession from Michael Burke, the president and CEO of the famed Italian fashion house, Fendi:

“Luxury should not be affordable. It cannot be, it shouldn’t be for everybody. The way the products are made, the quality and the work, luxury is not for instantaneous gratification, one should aspire for it. There has recently been far too much froth in an overcrowded marketplace”, adds the executive, "too much fast luxury. That's why we need a recession so there is equilibrium and so we can return to the real values of luxury."

Perhaps, the true value of luxury is appreciation, e.g., the pleasure and the enjoyment of fine craftsmanship. Appreciation cannot be purchased; it is an emotional response to seeing and feeling something that delights our senses. Does one have to own it to appreciate it?

Today the majority of the wealthy talk about the luxury of time as being one their most important luxuries. Their interests are veering away from the latest fashion to social consciousness, and to experiential luxury. Most talk about spending quiet time with family or just sitting and watching a sunset, or even doing nothing. Can you buy time?

If luxury is essentially experiential then luxury is for everyone. It is about viewing one’s environment as a source of luxurious moments that are absolutely free. Friends who have visited the poorest corners of the world marvel at the happiness of the people and their willingness to share their perceived abundance. They are moved to tears when they realize they are the ones with a scarcity mentality. Can you buy those spontaneous experiences?

What are some of your luxury moments?

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: Minding Your Store

As a luxury real estate marketing professional, it is important to respond to leads, emails, and phone calls as soon as possible. Here is an example of what can happen, when no one responds.

Cosmetics and beauty products are one of the largest profit centers in a department store. That is why they are positioned in front of the store as you enter. Have you ever noticed what happens when a customer is looking for products at an unattended cosmetic counter?

At unattended counters, customers are often approached by a salesperson from another counter, representing another brand, but wanting to help. When the customer is unsure about the particular product line that they first inquired about, the opportunity to switch is heightened. If the salesperson is charming, engaging and knowlegable, the customer can easily be persuaded to switch brands, based purely on attentiveness.

The bottom line here is that an unattended counter can cost sizable sales. The lack of attention, alone, can be enough to make customers switch.

In luxury real estate, when a potential buyer or seller is looking for answers on the internet, they want an answer ASAP. The person who responds first and is knowledgeable will get the lead and eventually the sale. That is why RAPID RESPONSE on the web and on the phone is very, very important. Even if they are not ready to buy or sell, potenital clients will be impressed by this, and remember you.

Don’t let your marketing dollars benefit someone else. Follow up on everyone you bring to your "counter". Your assistant can take care of the initial responses and determine the ones with whom you should talk or personally respond to by email.

GET FLUENT. GET AFFLUENT!

JOIN OUR LANGUAGE OF LUXURY GROUP ON:

BrokerAgentSocial, Plaxo, Linked In, ActiveRain, RealTown

FOLLOW US ON TWITTER: LuxuryMarketing