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Monday, December 13, 2010

Iconoclast Series: Netflix's Reed Hasting's the Risk Taker

Netflix & Apple TV

This is another post in our iconoclast series featuring Reed Hastings, the CEO of Netflix, who recently was honored as Fortune’s No. 1 Businessperson of the Year. An iconoclast is somebody who challenges or overturns traditional beliefs, customs, and values. Understanding the mindset and the accomplishments of iconoclasts such as Mr. Hastings, can inspire you to develop new ways of marketing luxury real estate and also encourage you to out-think your competition.

Over the years, naysayers predicted that Netflix’s DVD distribution via snail mail business would be trounced by Blockbuster (now in bankruptcy) or other behemoths such as Wallmart or Amazon. But, now, with more than 16 million members in the United States and Canada, Netflix is the world’s leading Internet subscription service for enjoying movies and TV shows.

For $7.99 a month, Netflix members can instantly watch unlimited movies and TV episodes streamed over the Internet(in the same way you can watch unlimited You Tube videos) to PCs, Macs and TVs through digital video recorders and Internet video players, Apple’s iPhone, iPad and iPod touch, as well as Apple TV and Google TV. In all, more than 200 devices that stream from Netflix are available in the U.S. and a growing number are available in Canada. With instant streaming video which has surpassed even its own DVD mail order business, Netflix is destined to become a globally ubiquitous brand.

Netflix is also confounding the cable and satellite TV companies who offer movies on demand for as much as $4,99 for each movie. If you have Apple TV (a $99 mini box that connects to your TV and your home Wi-Fi) and an IPad you can now wirelessly send your movie (or streaming TV show) from your iPad to your TV screen with a new iPad feature called Air Play. It is truly amazing!

Reed Hastings has built his company on a risk-taking culture and a deep sense of trust that is the foundation of his executive team. Most of the original team is still at the helm.

There is a phrase in one of the songs (Look to the Rainbow) from the classic Broadway musical, Finian’s Rainbow that says, “Follow the fellow who follows a dream”. As a luxury real estate marketing professional it is important to follow fellows like Reed Hastings. It can inspire you to take the risks your competition will not take. Netflix’s stock soared 200% since January 2010. The S&P 500 by contrast increased by only 7%.

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Wednesday, December 8, 2010

Marketing Luxury Real Estate: The Advantage of Working with a Professional Videography Crew

We were recently in Key Largo, Florida orchestrating a video shoot for our client, a luxury real estate marketing professional in Ocean Reef, which is an exclusive private community. We had the distinct pleasure of working with Frazier Nivens, the Emmy award winning film maker of “Sharks, Killers of the Caribbean”. Frazier has over 30 years of experience as a videographer and also as a diving instructor. He has produced thousands of videos above and below water.

It makes an enormous difference when you work with professionals who are experts at their craft. The difference is in the attention to details. This was immediately evident with Frazier’s command of lighting, his camera angles, and his overall ease of production logistics. The savvy videographer views the video shoot with an editor’s eye, making post-production in the editing room easier for the editor.

Getting the sound just right is also crucial to the success of video production. This is particularly important when you need to mix the sound of multiple “actors”. We also had the privilege of working with an outstanding sound technician, Gustavo, a professional who is truly passionate about his work.

When you see the end result, which we will soon share here on our Language of Luxury blog, you will immediately be able to sense the high caliber of video production which is important for marketing luxury real estate and also for video blogging in the luxury realm.

Raising the quality bar in video production on your website and set you apart from your competition and help you to amass an audience of raving fans. Anyone can point and shoot a video camera. Working with professionals makes all the difference in the world. It can give you the superior competitive edge.

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Tuesday, December 7, 2010

Luxury Real Estate Marketing Tip: Escape the Tyranny of Status Quo

In marketing luxury real estate, you need a website with a brand identity that not only looks distinct from your competition but also offers distinctive content. This requires that you develop your own unique voice as a real estate expert.

Let’s face it! The content on most real estate websites is mostly the same: Property search, featured listings, and neighborhood information. This content has become a ubiquitous commodity. Some sites are more user-friendly, better organized and more efficient than others. But, what makes a real estate website stand apart from the pack, besides a great look and feel, is original content that cannot be found elsewhere.

There has never been a time when original thinking has been more important in marketing luxury real estate than right now. That is because the medium of the internet (and search engines in particular) rewards iconoclastic thinkers, those who have the guts to escape the tyranny of status quo. This is a daunting challenge for most people who settle for sameness and conformity or are too afraid to stand out.

It is interesting to note that some cultures value individuality more so than others. In Japan, for example, where the group is often a higher priority value than the individual, there is an expression that states, “If a nail sticks out, it must be hammered down”.

Original content, however, that “hits the nail on the head” in terms of precisely answering the questions that web visitors are seeking, is sure to build an audience and create buzz. Are you up for the challenge of escaping the tyranny of the status quo?

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Monday, December 6, 2010

Luxury Real Estate Marketing: Is the Description of Your Marketplace Compelling?

Antebellum Mansion Detail

By Alexandra Seigel

How do you describe your marketplace? Does it make your web visitors feel compelled to move there? As a luxury real estate marketing professional you need to move people emotionally, make them fall in love with your area, before you help them make the physical move. Second home or multiple home buyers have choices of where to buy. Your first sale is selling your marketplace. If you do a good job of it you will sell YOU in the process.

Ron and I finished reading a wonderful book by one of our favority authors, Pat Conroy. You may remember his earlier novels, The Great Santini and The Prince of Tides, both of which were made into movies. After a 14 year hiatus, his new novel is South on Broad.

Set in Charleston, South Carolina, it is a must read for uxury real estate marketing professional looking to improve the description of their marketplace. By the first page, we felt the urge to visit, and it took all of 3 sentences to do it. Throughout the book, the feel of the city, the antebellum mansions, and the description of the gardens make you want to book a flight to Charleston.

The story itself is well written and riveting. Neither one of us could stop reading it. It made us think, reflect, and laugh, and we could not wait to tell you about it. If you are not a reader, give it as gift to someone who loves a good story!

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Sunday, December 5, 2010

Marketing Luxury Real Estate: The Pursuit of Personal Mastery

Courtesy of Tom Collins - Wine Country Master Potter -Napa Valley, CA

Have you ever contemplated becoming a master at marketing luxury real estate? This is what every market leader in every luxury marketplace has pondered before actualizing this attainment. What is the standard for mastery? Is it consistently out-producing the closest competitor? Or, is it the consistent demonstration of artfully matching buyers and sellers and satisfying their express needs? However you measure the success of a master in your field, it ultimately comes down to the personal satisfaction of reaching your own self-defined standards.

Andre Agassi has won every major tennis tournament in the world. By all outward standards he is a true master of the game. Yet, he admits that he hates tennis because it was not his goal to become be a superstar. Rather, he was pleasing others in his pursuit of becoming a champion.

When mastery is viewed as an inner game, one that involves the quest of your personal passion, it takes on an entirely different meaning. From this perspective, success is measured only by your own standards of excellence regardless of the criticism or praise that is bestowed upon you by others. The real reward of mastery is the self-satisfaction that comes from actualizing your own self-determined values.

Much can be gleaned about the process of mastery by observing masters at work and also by viewing their masterpieces. We were privileged to study with the Wine Country master potter, Tom Collins, when we lived in the area. It was one of the most gratifying experiences of our life. We consider the ownership of some of Tom’s pieces to be among our most cherished possessions.

Pottery is both an art form and utilitarian objects. When we serve pasta we usually serve it in a bowl that either Tom has crafted or we made under his tutelage. When not using these objects they are on display for us to enjoy as art.

Tom recently sent us this photo (above) of one of his latest works which we consider to be one of his masterpieces. We have seen dozens of his pieces. Yet, the glazing of this one in particular is, in our opinion, truly outstanding. This piece is on display at the prestigious Beatrice Woods Center of the Arts in Ojai, California.

To play the inner game of marketing luxury real estate, find a niche within your marketplace that you can pursue with passion and set your own standards of excellence. Derive satisfaction not from the praise of others, but from yourself as you incrementally become masterful at what you do. When others shower you with accolades, accept them graciously. But, consider them to be confirmations of what you already know about yourself.

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