Luxury Real Estate Branding: Join Forces with Your Competitor!

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Luxury Real Estate Marketing: The Luxury of Pursuing Your Passion

July 12, 2010

Luxury is pursuing your passion. If you are truly passionate about luxury real estate marketing it is likely that you will enjoy a tremendous advantage over your competitors. And, great things must unfold in your practice.

For inspiration, just look to others outside of the realm of real estate, those who are passionate about their careers. Some people are passionate about collecting art; others collect vintage cars.

Enzo Enea, a Swiss landscape architect, is also one of the world’s most famous tree collectors. His tree collection will be on display at the Tree Museum that he developed. It opened in June, 2010 near Lake Zurich in Switzerland.

What is extraordinary about this open-air museum is the series of open spaces delineated by stone walls that create outdoor “rooms”. About 120 trees will be on view at a given time, in this 75,000 square meter environment, there will be exhibit themes such as different types of trees and various ways of shaping trees.

The techniques of transporting mature trees is Mr. Enea’s particular claim to fame, techniques that were inspired by his study of bonsai. He is most passionate about weeping willows and Japanese maples in particular.

Most of the trees in Mr. Enea’s collection were given to him. For example, a tree was about to be cut down in a property renovation and Enzo asked if he could remove the tree for his collection instead.

Discovering these kinds of opportunities that others overlook is the sign of a passionate person. It is the same in marketing luxury real estate. When you are passionate about your work not only is it a luxury, because it makes you feel alive, but it is also gives you the competitive edge.

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Luxury Real Estate Marketing: 8 Tips for Staying Positive & Creating Your Personal Affluent Economy

July 7, 2010

Affluence begins with an affluent state of mind. One of the best ways to stand out as a luxury real estate marketing professional is to hold the vision of a vibrant economic future, yours in particular. View the present marketplace as a place of opportunity rather than focus on the reality as presented to us by the media and other naysayers. What is true is that some luxury homes are selling in most upper tier marketplaces. The question is, “are you in this rosy part of the picture?”

Maintaining a positive point of view definitely requires continuous practice. It is not like you need to hide from the negative, the trick is not to DWELL on it and “accentuate the positive”, as the song says.

Here are 8 tips to get you back on the positive train of thought and keep you there more often.

1. Appreciate someone or something around you.

2. Focus on something beautiful such as your pet, a flower, a tree, or the abundance of cherries that are currently in season.

3. Distract yourself with a few deep breaths

4. Take a walk around the block, or exercise

5. Give a sincere compliment, or two, or three.

6. Share some good news

7. Make maintaining a positive viewpoint a top priority in your life

8. When all else fails, lie down, pull the covers over your head, and don’t move till you feel better. In other words, keep a good sense of humor. And, remember that life is just a bowl of cherries.

Here is an excerpt from today’s post in the Mayo Clinic blog regarding the advantages of positive thinking for your health:

Researchers continue to explore the effects of positive thinking and optimism on health. Health benefits that positive thinking may provide include:

Increased life span
Lower rates of depression
Lower levels of distress
Greater resistance to the common cold
Better psychological and physical well-being
Reduced risk of death from cardiovascular disease
Better coping skills during hardships and times of stress

Think more positively! It not only is good for your personal health, it is good for your personal wealth, your personal affluent economy.

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Luxury Real Estate Branding: Express Yourself!

July 6, 2010

You have certainly heard the expression, “beauty is in the eye of the beholder”. As a luxury real estate marketing professional it is important to tune into the tastes and preferences of your client when selecting properties to show them, properties that they may like. Some homes may not appeal to you personally from an aesthetic standpoint. And, that is why you need to put aside your own standards to be of maximum help to your clients.

However, when it comes to personal branding, that is the time to get personal and express yourself. Your personal brand, from an aesthetic perspective must reflect your own tastes, your core values and your own personality. Yet, you must take into consideration your target market. That is, who you intend to attract as ideal clients.

Who are your ideal clients? As it turns out, when you really think about it, your ideal clients are people who share your values. For example, if you value a lighthearted sense of humor, your ideal clients would definitely not be curmudgeon s, killjoys or wet blankets.

In our strategic branding consulting practice our job is to help luxury real estate agents and companies dial into their unique DNA (different, not alike) and also dial into their target market. Then, we find a brand signal that can be expressed as a fusion of the two.

Too many luxury real estate marketing professionals are so busy trying to please others that they disregard their own very important personal perspective. As a result they attract clients who are less than ideal. Others go to the opposite extreme and disregard their target market altogether. For example, their chosen brand identity is too formal for a relaxed vacation destination where second home buyers want to leave the formality of the city behind them.

What is amazing about this process of personal branding is that there is always a way to articulate your personal brand signal so that is harmonious with your target market without compromising your DNA or your integrity. The key is to express yourself fully and have fun in the process. Your ideal clients will have a much easier time finding you that way.

If you want to have a really fun time practicing the art of self expression go to: http://artpad.art.com/artpad/painter . We created the image above on the fly for free at this site and it was a blast. It may not be art to you. But, for us art is having fun at whatever you are doing.

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Luxury Real Estate Marketing: Food of the Gods

June 30, 2010

Puerto Vallarta, Mexico is a great place to buy a second home. XocoDiva, a fabulous artisan chocolate store in PV is just one of many reasons why the lifestyle there is so appealing. We visited Ron Morgan there last week. Ron is a luxury real estate marketing professional who is passionalte about this exciting marketplace.

Check out this VIDEO on the chocolate truffles at XocoDiva. Yet, more proof that chocolate is food of the gods. If you are visiting a client or going to a dinner party, a small box of chocolate truffles makes a great gift!

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Luxury Real Estate Marketing: Less is More Tip #4

June 29, 2010

We recently took a stroll on Carpinteria Beach here in the Santa Barbara, California area which is considered to be one of the safest beaches in the world. We were very impressed by an innovative promotional idea that could easily apply to your luxury real estate marketing practice. The Department of Parks and Recreation in the City of Carpinteria has partnered with Carp Yoga to offer yoga classes on the beach.

The cost of each class is $10 which contributes to maintaining this wonderful beach. Carp Yoga gets to promote their classes and onlookers benefit simply by learning about this outstanding form of exercise.

If you like to do yoga or tai chi or some other form of exercise why not sponsor an introductory exercise session in your local park? Invite your entire data base of contacts. 50 guests will only cost you $500. Do not forget to take picture that you can send to your contacts as a follow up promotion. And, of course, be sure to write a blog post about this!

There are so many ways to trigger buzz about you or your company and generate referrals in the process. The key to achieving market leadership is to gain and sustain top-of-mind status. Think of ways you can spark the best form of advertising on the planet: Word-of-mouth! And, remember, your goal is to out-think not out-spend your competition. Do more with less. Less is more. You can enjoy our beach by checking out the webcam.

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Luxury Real Estate Marketing: Less is More Tip#3

June 28, 2010

Do you have a local movie theatre in your town that is not owned by a large chain? Here is another in our series on low cost promotional ideas that can yield big high quality results and make you stand out stand out from your competition as a luxury real estate marketing professional.

Most people, young and old, love the movies. Quality movies that the entire family can enjoy together are few and far between. When you get wind of one of these gems coming to your town, contact the owners of your local theatre and arrange a sneak preview of the film for a guaranteed number of sold seats.

When one of Harry Potter films was about to be released one of our clients invited a select group of past and present clients to a sneak preview of the film. At an average cost of $7.50 per seat she was able to guarantee 200 sold seats ($1500) which she prepaid. Then she found a non-competing service professional, an estate planner, to split the costs and invite 100 of their clients (including kids). Her total cost was $750.

In addition to thoroughly enjoying the show, the guests got the bonus of “bragging rights” about seeing the latest Harry Potter movie before it was released. Just prior to show time both hosts introduced each other to their clients in the audience which instantly expanded their sphere of influence. They outwardly endorsed each other as trustworthy service professionals, which led to future business. The theatre received additional cash, plus the take from all of the concessions they sold before and during the showing. It was scheduled in the morning before the theater normally opened and a few days before Harry Potter debuted.

There are so many ways you can stay in touch with your core data base of contacts that will turn them into raving fans. Leveraging the buzz of a Harry Potter caliber movie you can trigger massive word-of-mouth advertising ABOUT YOU OR YOUR COMPANY and also generate a tremendous amount of good will.

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Luxury Real Estate Marketing: Less is More Tip #2

June 22, 2010

It is a really good practice, as a luxury real estate marketing professional, to keep track of the interests of your contacts. Are you a wine enthusiast? Do you enjoy sampling unique cheeses? If so, chances are you have some previous clients and others in your contact database who feel as you do. Here is a low cost idea that leverages common interests and can generate meaningful marketing results.

Here in Santa Barbara there is a wine store called East Beach Wine Company. It is Santa Barbara’s largest specialty wine store. Each Friday night they have a special wine tasting often with guest vine makers to personally pour and talk about their winery. There is a different theme each week. It is quite educational and it is likely that you will meet some fun and interesting people at the tasting as well. Typically it costs about $10 per person and that includes some delicious cheeses that are paired with the wines.

A great way to stay in touch with your contacts is to invite them as your guests to wine tasting such as this. Perhaps you could arrange a discount for covering the cost of a large number of guests. Even at full pop, it only would cost $500 for 50 guest and the buzz about you and how you stand out from your competition would be worth many times that amount. Most important it gives you the ability, as a luxury real estate marketing professional to stay in touch with clients in a unique way when you are not just pitching real estate.

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Luxury Real Estate Marketing: Less is More Tip #1

June 21, 2010

Children at the Louvre Museum in Paris

Marketing ideas with zero or low cost are easier to conceive when you follow your passion. Anyone can develop business in their luxury real estate marketing practice with money. But, some of best results can be achieved without spending a dime. Here is an example of a low cost promotional idea that cost an agent very little but yielded big results.

A very successful luxury real estate marketing professional in Chicago was on the board of directors for the local museum. Her passion was engaging kids in the world of art. When the museum created a special interactive event for kids she sent out event invitations to all of her past clients and her entire sphere of influence offering to cover the admission cost for their kids. At $10 per child she spent only $500 for the 50 that showed up WITH THEIR PARENTS!

The positive response was unanimous. The kids had a blast, learned new things and made new friends. The adults appreciated the opportunity to meet new community members. Several of the parents joined the museum because of the quality of the children’s program. She generated a tremendous amount of good will not only from those who attended, but also from those who were impressed with the invitation and could not make it.

She also received several referrals shortly thereafter which converted to significant commissions that made the $500 investment a drop in the ocean. What contributed most to the success of this marketing idea was her passion for getting kids excited about the arts. This is part of what her personal brand stands for. When you tap into your passion and tie it into your work everything aligns to this core principle that makes marketing a joy.

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Luxury Real Estate Marketing: When Should Your Name Become Your Personal Brand?

June 16, 2010

Coco Chanel on Left - A Chanel Chapeau (hat) on Right

There is a debate that still continues about using your name as your personal brand in luxury real estate marketing. Here is the best test to determine when it is advisable to do so: Ask yourself, “Are you ready to achieve celebrity status in your marketplace?” If you are prepared to have your name stand for a particular market niche that you can dominate, we say, “Go for it!”

Think of some of the most recognizable personal brands: Martha, Seal, Sting, Cher, Lance, [the] Donald, Kobe, and Coco. What category of celebrity comes to mind for each?

Channel is one of the most famous fashion design houses in the world. And, the company founder, Gabrielle Bonheur “Coco” Chanel, was one of the most highly recognized personal brands in her time. In fact, she was the only person to be named in the field of fashion on the Time [Magazine] Top 100: The Most Important People of the [20^th] Century. Coco was a modernist who stood for the pursuit of expensive simplicity which is the most enduring core value of the Chanel company brand

Coco’s design standards were exacting. And, she was a task-master who insisted that her clothes reflect her personal, exacting impeccable standards. We know this first hand as Alexandra’s grandmother was a master finishing seamstress for Chanel in Paris as young woman. The attention to detail was relentless.

Clearly, Coco enjoyed top-of-mind status in the field of high fashion as a personal brand, a status that extends to the company brand as well, to this day. Top-of-mind is the goal of any luxury real estate marketing professional who is aiming for market leadership and celebrity status.

Are you ready for celebrity status in your luxury real estate marketplace? If not, you might want to consider a different tact when approaching your personal branding, other than using your name as your brand.

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Luxury Real Estate Marketing: Tap Into the High Net Worth Mindset

June 15, 2010

It is important for luxury real estate marketing professionals to follow the luxury trends outside of real estate. The more you tap into the mindset of potential high net worth clients the greater your chances are to gain their trust and their business.

For example, researchers specializing in the world of cosmetics are finding that the luxury beauty product industry has grown at an annual rate of 6% since 2004. Trade publication, Global Cosmetics Industry, cites that beauty products generate approximately $230 billion in global sales. An emerging trend among consumers is that they are growing more knowledgeable about ingredients and are favoring natural-based products. The women in emerging luxury markets in Asia, the Middle East, and Russia are now sold on skin care and makeup, and have become savvy, eager consumers.

The house of Guerlain, a premium perfume and beauty brand had embarked on developing a new brand of skin care to meet the needs of an aging population. By researching orchid plants, that take an inordinately long time to fade after they bloom, they came up with a proven anti-aging formula. To facilitate their research they built an “orchidarium” (a French term) to study 30,000 species of orchids.

Guerlain’s marketing message is targeted specifically to highly informed consumers:

After “Ten years of research within the Guerlain orchidarium, three new orchids selected among 30,000, revealed the secret of extraordinary longevity”.

According to their research, Guerlain’s new orchid extract has the power to turn back “cellular” time. The initial tests by a reputed dermatologist, showed a 54+% in skin improvement in two months based on rigorous standards, and the research continues.

Following trends in other luxury industries, such as the luxury cosmetic industry, can not only yield insights into the mindset of high net worth consumers, but also offer you social currency to engage in meaningful conversation. Holding your own in social situations in this way builds trust and your bottom line.

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Luxury Real Estate Marketing: Think Like a Journalist!

June 14, 2010

Many luxury real estate marketing professionals believe that the primary purpose of blogging is to increase their website traffic. It is true that a great blog can actually account for more traffic to your website than traffic generated when search engines, like Google, display your website/blogsite at the top of their search results pages (and users click through). However, more traffic is actually a by-product of your blog not the purpose. The real purpose of your blog is to build an ever-expanding local, national and international sphere of influence, a stronger referral base, and an audience of raving fans who recognize you as an expert in your field.

When your blog is follow-worthy, buzz-worthy and comment-worthy you actually emerge as a journalist on par with those who write for major news publications and magazines. As a journalist you become a reporter, a columnist, a commentator, an entertainer, and a correspondent. Your opinion becomes sought after by traditional media. The more you aim to achieve this level of professionalism as a blogger, the more your sphere of influence will grow.

Just as e-book readers are changing the book industry, smart phones and tablet computers, like the iPad, are changing the magazine industry. With digitization, the cost of printing and delivery/distribution (over the internet) is virtually zero. That is now freeing up resources that can be deployed to making each magazine edition truly interactive. With videos,, 3-D effects, links to archived editions and related stories, search, social interaction, polling, and more extensive photography, magazines can provide an vastly more satisfying user experience than a print issue.

The new magazines will be available everywhere, on any device which can expand its circulation. And, readers will spend more time interacting with each edition, more time than a one hour TV show that may cost the same price, for example. Besides this rich user experience, readers can count on the fact that the magazine articles will be well researched and well edited which is a “value add” that most blogs cannot match. Think of the depth of sports coverage in Sports Illustrated when this magazine is published on the iPad.

If you are currently blogging or are contemplating becoming a luxury real estate blogger, keep in mind that the competition for attention is going to get even fiercer as print magazines go digital and become truly interactive. Now is the time to step up the level of professionalism on your blog. Start thinking like a journalist!

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Luxury Real Estate Marketing: Focus is the Name of the Game

June 8, 2010

Ursula Burns, Chairman and CEO --Courtesy of Xerox

The imperative to re-invent yourself as a luxury real estate marketing professional has never been greater. The competition for attention on the internet now requires that you declare a highly focused , sharply defined “brand position”. To stand out from the crowd, you must stake a claim to an uncontested market niche and offer an extraordinary promise of value. Your claim to market leadership must be based on something that you can do better than anyone else in your marketplace. Now more than ever, focus is the name of the game in luxury real estate marketing.

For decades Xerox was focused on one thing: plain-paper photocopying. Xerox was one of the first brand names to become a verb, just as the verb “to FedEx” has come to mean ship overnight. Although Xerox still “owns” the top-of-mind status in the prduct category of plain-paper copiers, the status has become less and less relevant in light of the transition of documents between the paper and digital worlds. This fundamental shift necessitated that Xerox completely reinvent itself and reposition the brand in the minds of its target market and substantial customer base.

In the late 1980s and early 1990s, Xerox worked to transform its product offering into a service. Xerox began providing a complete "document service" to companies including supply, maintenance, configuration, and user support. Customers became clients. To reinforce this image, the company introduced a corporate signature, "The Document Company" above its primary logo. However, at this time documents still meant ink on paper.

In 2008, Xerox changed its logo again to a red sphere and a white X with three grey stripes. The change is meant to shift the emphasis of the company’s focus from plain-paper document photocopying to digital document management and solutions.

On July 1, 2009, another change occurred in Xerox. Ursula Burns became the first African American woman to head a company the size of Xerox. Under Ms. Burn’s leadership, in February 2010, Xerox acquired Affiliated Computer Services, Inc. transforming Xerox into the world’s leader in business process and digital document management.

With this acquisition, Xerox now processes over one million credit card applications and twelve million student loans each year. They also provide HR (human resources) services for more than 4.4 million employees and retirees annually. Xerox’s extraordinary new promise of value is to “help our customers reach new levels of efficiency and effectiveness, giving them the freedom to focus on what matters most: their real business”.

From product oriented to service oriented, from paper documents to digital document management and out-sourced business processes Xerox has undergone an astonishing metamorphisis, a total shift in focus.

What will be your new focus, your new claim, your new extraordinary promise of value? Focus is the name of the luxury real estate marketing game.

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Luxury Real Estate Marketing: The Winning Formula of Passion & Competence

June 7, 2010

Mount Fuji, Japan

The difference between luxury real estate marketing professionals who are genuinely passionate about what they do and others who are not is palpable. It is your passion and competence that compels others to rave about you and refer business your way. But, competence alone is not enough. Emotions attract more business than logic. Tapping into the emotions of your target market and offering an extraordinary value proposition beyond competent service will give you the competitive edge.

In Japan, consumers of electronic gadgets have traditionally been persuaded to buy new products based more on extensive new features rather than the emotional benefits of ownership. Skeptics warned that Apple’s iPhone would not sell well in Japan because it lacked detailed technical features that would require hours of studying a thick instruction manual to master.

The skeptics were wrong about the simplistic user interface of the iPhone and also about the iPad, which was recently introduced to raving fans in Japan. Apple products have become a brand name accessory. They are considered a luxury on par with Louis Vuitton handbags which are extremely popular in Japan. Apple has found a way to tap into the deep seated emotional consumer needs of self-expression and the promise of gaining acceptance, approval and admiration from others.

Showing off your new iPad, a product that has instant brand recognition, offers emotional currency to the consumer. This effect can occur from twenty feet away simply by recognizing the Apple logo. That is brand power! From twenty feet away you cannot tell if a competing gadget has the latest technical features inside.

Then, there is Apple's "coolness factor"-- an inimitable brand culture that has been developing over decades. You do not just buy a product; you join a brand and you belong to a likeminded community. Have you ever walked into an Apple store? The brand culture, the passion and the camaraderie between customers and competent employees is obvious there.

The reason that Apple has such a superior competitive advantage is not because of features but, because of this emotional currency. Google, Samsung, HP and dozens of other companies are coming out with tablet computers in the near future. But, they will all be competing based on features alone, not on emotions, a realm that Apple dominates.

Dell is coming out with a tablet that has a 5 inch screen (double the size of a smart phone screen). The logic is that is can still fit into your pocket like a smart phone. They will be given away free with a wireless subscription because Dell will subsidize the cost of the device in a revenue sharing model.

When you compete on the basis of features alone, you become a commodity because features can easily be copied. The only territory left, when all competitors have the same features, is price. We saw this phenomenon with discount real estate brokerage firms.

Tap into your passion, as a luxury real estate marketing professional. Claim an contested market niche that you can dominate. Serve this niche better than anyone else in your marketplace. Then, you will find the winning formula of passion and competence.

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Luxury Real Estate Marketing: Become an "Investigative Reporter"

June 2, 2010

Have you heard the term “investigative reporting”? That is one of the great roles of a journalist and should be one of the roles you assume as a luxury real estate marketing professional when you decide to blog. There are so many fascinating local stories to cover if you just look for them. Find one that you can be passionate about and tell the story from your own unique voice. Your personal slant on the facts is what makes your “column” worth following.

One of the stories that we find most interesting, from a strategic branding standpoint, is the new competition between Google and Apple especially in the realm of smart phones and other mobile devices such as tablet computers (iPads). What is at stake? There are billions of dollars in advertising revenue at stake on mobile devices, plus applications, media subscriptions, e-books, video and more. The drama that is now unfolding, on the world stage, between these big brands sheds light on the dynamics between rival agents seeking market leadership in any luxury real estate marketplace.

Apple has just surpassed Microsoft in valuation; a feat that Steve Jobs describes as “surreal”. Can you remember when Microsoft surpassed General Motors in valuation?

Mr. Jobs is a charismatic leader with tremendous vision. He is bold in his move to dismiss Adobe Flash as a technology whose days are numbered. Apple iPhone, iPod Touch and iPad only support HTML-5 a new video technology that Jobs considers to be superior to Flash. He is not afraid of controversy, Many of his critics, including Google, say that he has made a serious error in judgment, that he is not “open and inclusive” regarding these two major video platforms (Google supports both Flash and HTML-5). They say the consumers will be the ultimate judge.

Mr. Jobs agrees with his critics on this point. One iPad is now selling every three seconds!

In our next segment on Apple vs. Google we will cover the impact that this device is having in Japan where the iPad is emerging as a luxury brand on par with Louis Vuitton.

Find a story that you can sink your teeth into and extract meaning, your interpretation of the facts, for your readers. That is the role of “investigative reporting”. Locally, this practice allows you to meet many people who are likely to become loyal referral sources.

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Luxury Real Estate Personal Branding: Capture Mindshare

May 31, 2010

In luxury real estate marketing, market share is typically measured in two ways: total number of transactions and total dollar volume. In most marketplaces (or niches within marketplaces) there are two to three agents who dominate the market and account for the lion’s share of business. This pattern appears in most categories of products and services. What is important to note, however, is that market share is actually the manifestation of mind share. Capturing "top-of-mind" status as a personal or company brand is imperative if market leadership is your quest.

Here is an example of how this plays out in the beer industry in the United States.

Anheuser-Busch (brands include the world’s largest selling beers, Bud Light and Budweiser) and MillerCoors, control about 79% of the U.S. beer market, according to Beer Marketers Insights, Inc. Anheuser-Bush, the market leader, enjoys 49% and Miller-Coors commands a 30% market share. The next closest competitors are Crown Imports (Corona & St, Pauli Girl) with 5.3%, Heineken USA with 4.2% and Pabst with 2.7%. All others share the crumbs.

What is interesting about Pabst is that they operate a 100% virtual brewery. In addition to Pabst Blue Ribbon, they own brand names of products that include such time-worn labels as Schlitz, Old Style, Lone Star and Colt 45. But, all of their beers are brewed under contract with beer giant MillerCoors. The company was recently purchased for about $250 million by investor C. Dean Metropoulos, who made a fortune building well-known consumer brands including Bumble Bee Tuna and Vlasic Pickles.

Mr. Metropoulos did not purchase brewing plants he purchased brand names with substantial value. These names have been “branded” in the minds of a significant percentage of beer drinking consumers who consider Pabst, Schlitz,etc, their beer brand of choice.

Mind share translates to market share when your personal or company brand name comes to mind first. If you are predominantly a listing agent who wants to dominate your marketplace, your primary aim must be to capture top-of-mind status in "X" number of top-tier households (the number of households that comprise your marketplace). Luxury real estate marketing is more a mind game than anything else. That is why it is imperative to learn the rules of the game called brand strategy to attain market leadership.

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Personal and Company Branding: Don’t Fall Into the “Chameleon Trap”

May 26, 2010

In certain cultures it is frowned upon to stand out from the crowd. However, if market leadership is your quest as a luxury real estate marketing professional, blending in like a chameleon does to camouflage itself is simply not an option. At a time when competition for attention is escalating, especially online, developing a highly distinguishable, consistent personal or company brand is now an imperative.

Changing your colors to please others, to blend in or to avoid the pursuit of your competition is the antithesis of establishing your brand position and sticking with it steadfastly. Many agents and companies fall into the “chameleon trap” because they simply do not want to make waves. But, if you have the heart of a champion, the heart of an achiever, making waves and creating news is what you live for.

In defense of the chameleon and chameleon-like behavior it is important to note that there is more to the color changing story. Recent research asserts that social signaling, such as attracting a mate, was the major driving force behind the evolution of color change. Blending in for camouflage developed as a secondary survival skill.

Therefore, changing your colors to attract more of your ideal clients in the process of luxury real estate marketing can be a good thing. The key is to display your authentic colors decisively and consistently.

The chameleon trap that we warn you to avoid is really the people pleaser trap. Change is good providing you please yourself in the process.

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Luxury Real Estate Marketing: Be Complacent at Your Own Risk!

May 25, 2010

Courtesy of Google and Apple

Complacency is a trap that many luxury real estate marketing professionals fall into when they attain market leadership. This offers an excellent opportunity for competitors to pick up the slack and surpass the current market leader, especially if they have a superior grasp of technology. Staying on top of the latest technology and becoming a master of social media is now an imperative if you wish to sustain your market leadership.position. Otherwise, an unlikely competitor can suddenly challenge your domain.

Here is an example of how Google is challenging Apple, the current market leader in smart phones (iPhone) and tablet commuters (iPad).

On August 3, 2009 Dr. Eric Schmidt, chief executive officer of Google, resigned from Apple’s Board of Directors because Google entered some of Apples core businesses. With Android (Google’s smart phone platform) and Chrome (Google’s browser-based Operating System) Apple faces direct competition for the iPhone, the iPad, and even Apple TV.

Google TV claims to finally integrate TV and the web, so you can spend less time searching for content and more time watching it. Google TV will work with your current paid TV subscription as well as the majority of video content online, making it easy and seamless to switch between the two.

What is behind all of these moves by Google? In a word, it is Ads! Yes, Google is a technology company, but its economic driver is advertising revenue. People watch an average of five hours of TV per day. TV ads amount to $70 billion per year. There are over 4 billion TV users worldwide vs. 1 billion PC owners.

That is why Google wants to reach beyond your desktop and laptop. It wants to dominate the delivery of ads on all of your devices while you are on the go, and also while you are in your living room. In fact, you soon will be able to sync up all of your devices that operate on Android/Chrome as well as your computers, because Chrome operates over the web not in the hard drive of your computer.

If Google’s wish could come true, all device manufacturers (other than Apple) would use Android/Chrome as their platform so it can serve up more ads. They also profit share with all of the developers who create mobile and TV Apps (software applications) that consumers can purchase at their store.

Apple has a head start with the most number of Apps available for the iPhone and iPad. But, Android is gaining momentum. Google supports both Adobe Flash (the most widely used video format) and HTML-5. Apple only supports HTML-5.

Schmidt is positioning Google as being “open and all inclusive” vs. dictatorial and closed, like Apple. Steve Jobs has consistently positioned Apple as a leader in sophisticated design and innovation, a cut above the rest. It will be interesting to see how this plays out. Will Apple be able to sustain its market leadership position in smart phones and tablet computers? Time will tell. But, you can count on the fact that Apple is not being complacent.

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Personal Branding: Attract More Clients by Defining Your Brand Position

May 24, 2010

Brand positioning is one of the most important marketing principles and perhaps one of the most misunderstood. Yet, to sharply differentiate yourself from your competition, as a luxury real estate marking professional, your brand position, what you stand for in the minds of your target market, must be made crystal clear.

When you get your brand positioning spot on, it is like comparing apples and oranges. There simply is no comparison. It lets your ideal clients immediately recognize that you are a match. and your competition is not. It accelerates the speed of trust. Portraying yourself as part apple and part orange, in an attempt to be all things to all people, is confusing. It weakens your brand signal and your power of attraction.

When you think of Rachael Ray the author, cooking show and talk show host, what comes to your mind besides the words she coined, “Yummo and Delish”? Rachael stands for wholesomeness; she is the archetypical “girl next door”. As a result, Rachael is one of the most trusted personal brands in the United States.

People like to do business with people like themselves, people who share the same values. If you are attracted to Rachael’s down-to-earth wholesome values you are more likely to trust her advice. Rachael has mass appeal because there are so many people who can identify with what she stands for.

Now, if Rachael Ray attempted to pull off a cooking show focused entirely on fine Italian cuisine that features traditional family recipes, she simply would not be authentic. But, Giada De Laurentiis owns this market segment. Giada’s brand position is sophisticated/sexy. She began her professional training at Le Cordon Bleu in Paris, specializing in both cuisine and pastry. Her training also included positions at the prestigious Ritz Carlton Fine Dining Room and Wolfgang Puck’s Spago in Beverly Hills.

Wholesomeness/girl-next-door and sophisticated/sexy are very distinct brand positions. Both are unmistakable. Each has appeal. Within moments of watching either of these famous chef’s cooking shows you can grasp how they are different and what each of them stands for.

What does your brand stand for? You must take a position and make it clear if you want to attract an abundance of ideal clients, those who share your personal values. The purpose of personal branding is to articulate your brand position with laser sharp clarity; making what is genuine and implicit about you, explicit so you stand out from your competition, instantly.

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Luxury Real Estate Marketing: To Gift or Not to Gift?

May 19, 2010

To gift or not to gift? That is the question. Many agents who are involved in the business of luxury real estate marketing feel the need to give closing gifts to their clients. If you are going to do this, give a gift that tells a story so they remember you long after receiving the gift. That way they will tell the story to their friends and promote you in the process.

One of the great gift giving stories took place in Russia when Tsar Alexander lll gave his wife an object d'art in the form of a bejeweled egg crafted by Peter Carl Fabergé, a goldsmith appointed as the designated jeweler to the Imperial Crown. His wife was so delighted with the gift that it became a tradition on each anniversary of their marriage to give a "Fabergé Egg" to his wife. He gave the master craftsman free reign in the creation of the gifts, which became an ongoing commission, but with the stipulation that the egg must contain a surprise inside.

Most of the eggs were made of precious metals and decorated with combinations of enamel and gem stones. The term "Fabergé egg" has become closely associated with luxury. Many are considered to be masterpieces and have sold in auction for millions of dollars.

Some luxury real estate marketing professionals believe that their clients should give them gifts for delivering invaluable service. Either way be sure to gift yourself when you close a transaction!

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