The Ultimate Luxury for 2010: Forever Young

Sunrise in our backyard in Carpinteria, California

2009 has stood out as a year when the meaning of “luxury” itself has been dramatically re-examined, re-evaluated and re-defined throughout the world by high net worth consumers and also by the purveyors of luxury goods and services. To be successful in the next decade, as a luxury real estate marketing professional, it is now essential to gain a deep understanding of this shift in mindset that is gaining momentum from material to experiential.

Perhaps, the root of this important change began in the sixties, when a certain poet, expressed that “the times they are a changing”. As baby boomers are reaching the peak of their earning and spending years, it isn’t surprising that they have led the way to this awakening of a deeper meaning of luxury.

Recently, while driving down Pacific Coast Highway on a magnificently clear day we listened to Bob Dylan sing one of his classic songs: May You Stay Forever Young! He articulated for us, in just five words, the most profound wish that we have for ourselves and for others. It is the wish that represents to us the ultimate luxury: To maintain the optimism and invincibility of youth throughout our lives.

We wish for you a very Happy New Year. And, may you stay forever young!

Ron & Alexandra Seigel

P.S. We included the Joan Baez version of this song on video here because it is awesome. Here are the lyrics, too.

May God bless and keep you always,
May your wishes all come true,
May you always do for others
And let others do for you.
May you build a ladder to the stars
And climb on every rung,
And may you stay forever young,
Forever young, forever young,
May you stay forever young.

May you grow up to be righteous,
May you grow up to be true,
May you always know the truth
And see the light surrounding you.
May you always be courageous,
Stand upright and be strong,
And may you stay forever young,
Forever young, forever young,
May you stay forever young.

May your hands always be busy,
May your feet always be swift,
May you have a strong foundation
When the winds of changes shift.
May your heart always be joyful,
May your song always be sung,
And may you stay forever young,
Forever young, forever young,
May you stay forever young.

Bob Dylan-released in January 1974, on the Planet Waves Album-

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Luxury Real Estate Marketing: Is Luxury Out of Style?

1957 Mercedes Cabriolet

Luxury real estate marketing professionals need to stay abreast of current etiquette when conversing with high net worth clients. Economic conditions tend to affect the degree of conspicuous or inconspicuous consumption. But, is flaunting one's wealth ever in style?

Given the current economic conditions and the propensity of the media and talking heads to point out the downfall of the luxury retail market this holiday season, the following question comes to mind: Is luxury itself out of style?

The answer is NO. The essence of luxury is an object or a service that is well made/well done. Again the governing concept of an item is that is of exceptional craftsmanship which implies its long lasting value. A great service implies that you will return for that great service over and over again because it is worth it. The very well to do populace is not the only ones who buy luxury. There are quite a few people who may buy an item because of its "superior quality or performance." They understand that because it is a superior product, its longevity will make the purchase an economically sound decision.

Thomas Chippendale chair

There are people who will drive their Mercedes for 20-30 years. Divide the original purchase price by the number of years, and you will discover that given the performance and the lasting quality with which the vehicle is built, it is a bargain. In addition the resale value is higher, and if the model is sought after by collectors, it resale can be astronomically more than its original purchase price. A well made piece of furniture last lifetimes and is often passed from generation to generation. An authentic Chippendale is worth a fortune on today's market. With falling prices on many durable luxury items, those in the know are purchasing them.

The same could not be said about some luxury purchases. If one were to purchase a pair of satin Christian Louboutin shoes for $1500, the chances of those shoes surviving into the next century are not so great, even though they are well made and well crafted. The intention here is not to condemn the purchase but to illustrate the concept of long term luxury. It is possible that the wearer may be so careful as to avoid every possible scuff and not damage them at all and hand them off to a granddaughter with the same exact shoe size at some point in time!

What is out of style and what has always been out of style is in your face luxury i.e. bragging about and flaunting recent purchases. Etiquette is a lifelong pursuit and is not dependent on economic conditions to practice it. It depends on one's understanding and appreciation of all the conditions that life has to offer and reacting to them in a gracious manner.

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Luxury Real Estate Marketing: Celebrating the Holidays with Localism, Part II

One of the most wonderful promises of the blog, as a communication tool, is that it empowers you to report on local events, customs and perspectives and share them with the world. Localism, a term that is often used to describe this capability, is a powerful strategy for luxury real estate marketing professionals. It can help you to stay in touch with prospective clients who plan on relocating to your area or purchase a second home in your marketplace.

Reporting on local happenings is also great way to of reminding locals (including prospective home sellers and referral sources) about what they love the most about where they live. You can help them to fall n love with their home town all over again and fall in “like” with you in the process.

In our home town of Carpinteria, next door to Montecito in the Santa Barbara area, there are acres of agricultural land. Carpinteria is one of the avocado capitals of the world. It is also the home of some of the best and most successful wholesale growers of orchids in the United States. Most of the orchids that you buy in Trader Joes and major supermarket chains are grown right here.

This year Westerlay Orchids decorated a lovely Christmas tree with orchid ornaments that is displayed in their showroom which is open to the public. Each orchid is placed in a tube with water to maintain its freshness over the holidays. The variety of colors is magnificent and the lights in the trees make the orchids glow.

Now, this is something you do not typically see elsewhere around the world. It is truly local. And, it is a joy to share with you, our friends from all corners of the globe.

Happy Holidays!

Ron & Alexandra Seigel

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Celebrating the Holidays in Santa Barbara: Part I

This is part one of our local coverage of holiday spirit, here in Santa Barbara, California. We were inspired by holiday blog posts we have read from all over the world from bloggers who shared local color, like the first snow of season. It truly helps to make the spirit bright!

One of the luxuries of life in the holiday season is to admire the lovely decorations that signify the end of the year. The creativity involved and the execution gives you a moment to reflect on people’s artfulness. To celebrate the season and wish all our readers a wonderful holiday, we are sharing our photos of local holiday decorations that we found impressive or original.

Today, we had breakfast with friends in the Bella Vista restaurant of the Biltmore hotel overlooking Butterfly Beach. It is a wonderful room with a retractable ceiling to let in the ocean breezes and very conducive to celebration or quiet relaxation. It is a favorite of the locals as well as tourists.

One of the landmark hotels in Montecito/Santa Barbara, the famed Biltmore hotel opened in 1927, as part of the Biltmore chain. Today, it is known as the Four Seasons Resort, The Biltmore Santa Barbara. The hotel has been lovingly maintained and restored. It exemplifies colonial Spanish/Moorish architecture with magnificent courtyards, gardens that feature specimen plants and trees, as well as a croquet lawn. We think that it is one of the most beautiful hotels to visit since it is reminiscent of the grandeur of the era in which it was built.

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Luxury Real Estate Marketing: The Luxury of Lemon Grass

Lemon grass by Velela

Luxury real estate marketing has become an international game. Understanding what is considered to be a luxury in multiple cultures is now a requisite education for luxury real estate marketing professionals.

For example, what is considered to be luxury in Singapore, the fifth wealthiest country in the world? Its rapid economic growth and favorable business climate converted a port city into a major urban capital. In razing orchards and plantations to build high rises and an urban infrastructure, the country’s agricultural output became non-existent. Singapore is a country that imports the overwhelming majority of its food (eggs are the exception) and half of its water. Now, home grown vegetables, fruits, and herbs have become the new luxury.

Greening up the concrete façade of the city began with the chefs of the luxury hotels such as the Four Seasons and the Fairmont, who were not satisfied with the imported organic fare. These chefs began growing herb gardens on their rooftops. This expanded to growing banana trees, chilies, bell peppers and more. Other business and restaurants have followed suit, and are growing lemons, curry leaf, lemon grass and mint.

In a country proud of its gastronomic heritage and a people who value diversity in gourmet fare, this trend of homegrown produce has become vitally importance to continue its dominance as a culinary capital. Using organic produce is also beneficial to the environment as it has an impact of lowering greenhouse emissions. Now, the government of Singapore is supporting residents to grow their vegetables on their rooftops, or participate in community gardens.

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Luxury Real Estate Marketing: Thank You for NOT Calling Back

Zoe Darla Seigel, Abyssinian Princess

Alexandra here… your reporter at large, covering great customer service or the lack thereof. There is definitely an important lesson in this for your luxury real estate marketing practice.

Recently, I was in the process of ordering flea meds for our cats online from a company with whom I had previously done business. The website was not working, so I picked up the phone and called them. They were extremely busy and could not take my order. But, they did promise to call back in five minutes.

As I sat at my desk waiting for the return call, I noticed another web site advertising the same products. I clicked on it, and found, much to my delight, that the same exact pet meds were half price. So, I placed the order. The original company never called back. Typically, it is easy to get upset when you are waiting to be called back. Now, I just say “thank you” and move on. But, do keep this in mind, when you think of the visitors you painstakingly attract to you luxury real estate website.

This past Saturday, I called the local store of a national retailer to purchase a Dutch oven (on sale for 2 days only) for a Texas chili recipe I was cooking. They were busy at the store. The gal who answered the phone was rude. But, she asked for my number, and promised to call back in five minutes. It is Tuesday night as I write this post, and I have still not heard back. Meanwhile, I located the same item online with free shipping at a better price. In an effort to give feedback (because this is one of my favorite stores), I sent an email to the store’s headquarters.

Today, I received a reply email that expressed appreciation for my feedback. They gave me an incident number and that was all it said. What does one do with an incident number? Are they going to do anything to win my business back? The last sentence in my note was, “because of my respect for your company and my past experience, I am writing this to you. However, you have made it very easy for me to shop elsewhere”. They just lost my business and I gained an incident number. Can anyone use an incident number?

So every time your call or email inquiries are not responded to as promised, don’t get mad. Just go on clicking. There is always someone willing to give you the service you are looking for. But, do remember that all the money you spend to acquire web visitors and phone call from prospective clients will go down the proverbial drain if you do not respond to your email or call people back. Your competition is just a click away.

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Luxury Real Estate Marketing: Dominate The Uncontested Market Space

Recently, we responded to an S.O.S from a successful luxury real estate marketing professional who put out this distress signal: I have been blogging consistently. Why is no one commenting or following me? Is there anyone out there? For those of you who are experiencing the same frustration, here is an important tip: Discover and dominate an under served market niche

A niche is specialized market. It is a market segment or a particular market “space”. An example of a niche in luxury real estate would be historic homes. When we were in commercial real estate in Beverly Hills we specialized in high end retail and the entertainment industry. One of our jobs was to go to find potential tenants for retail stores and shopping centers that we represented exclusively, on Rodeo Drive, or surrounding areas.

In doing some research for an upcoming blog series we found an excellent analogy for niches by Ray Wert on his Jalopnik.com blog. He referred to niches as the spaces between the marbles in a Mason jar that is full of marbles. If you were to pour sand in the jar it would fill those spaces and there would be a surprising amount of room for the sand. Only when you can no longer add sand is the jar really “full”. The marbles represent what everyone else is doing, the niches exist in those spaces between the marbles that the sand fills.

To be successful as a blogger, as a luxury real estate marketing professional, you must first identify an uncontested market “space”. The first place to look is for an under served consumer group. It must be a niche about which you can write passionately.T It needs to be a market segment for which you can offer an extraordinary promise of value, value that cannot be found elsewhere. And, you must blog in your own unique voice, your authentic style. That is, if you want to build an audience and be follow-worthy over time.

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