Luxury Real Estate Branding: How Strong is Your Brand Recognition, Part 4

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Luxury Real Estate Branding: How Strong is Your Brand Recognition, Part 3

July 24, 2012

Pierre-Auguste Renoir, Dance at Le Moulin de la Galette (Bal du moulin de la Galette), Musée d'Orsay, 1876

To further understand this concept of brand recognition, and just how important it is to your luxury real estate marketing practice, consider the subject of French Impressionists. Who is the first artist in this category that comes to mind? How many French Impressionist painters can you think of QUICKLY? Give yourself only 15 seconds. Then, try this question on a friend and see what names come up in just 15 seconds.

Unless you have studied this subject thoroughly or have visited the Quai D’Orsay museum in Paris and have a photographic memory you most likely do not know the top 12 French Impressionists. Most people who have some exposure to this subject can come up with only 3 at best. That is how our mind works. We think in categories and sub-categories or niches.

Claude Monet is the most prolific artist in this category. For most people, Renoir and Monet are perhaps the two artists who come to mind first. But, there are at least a dozen top French Impressionist artists. Here they are in alphabetical order.

Frédéric Bazille, Gustave Caillebotte, Mary Cassatt, Paul Cézanne, Edgar Degas, Armand Guillaumin, Édouard Manet , Claude Monet, Berthe Morisot, Camille Pissarro, Pierre-Auguste Renoir, Alfred Sisley

Try this question: When you think of French Impressionists who are famous for paintings ballet dancers which one comes to mind first? Edgar Degas is known best for this subject. Can you think of any other artists in general who are known for painting this subject?

Edgar Degas, Stage Rehearsal, 1878–1879, The Metropolitan Museum of Art New York City

How about haystacks? Claude Monet is famous for these. But, Armand Guillaumin also painted haystacks. Why does his name not come to mind as readily? Claude Monet “owns” the word ‘haystacks’ like Degas owns ‘ballet dancers’. And, that is exactly what your goal is as a luxury real estate marketing professional. Find a niche or category of luxury real estate in your marketplace that you can own. That is, if top-of-mind-status and instant brand recognition is your quest.

‎ Claude Monet, Haystacks, (sunset), 1890–1891, Museum of Fine Arts, Boston

(All photos are in US public domain)

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Personal and Company Branding: How Strong is Your Brand Recognition Part 2

July 23, 2012

Photo by Valentino Vicentini

Instant recognition, of your personal or company brand in marketing luxury real estate, is the ultimate goal of banding. The fastest route to achieve this top-of-mind status is by specializing in a particular category or niche within your market place and becoming identified with that category. An example would be the waterfront property expert.

In part 1 of this article series about brand recognition, we demonstrated the speed at which the mind recognizes an iconic brand. What is not as obvious, however, it the speed at which we categorize, or pigeon hole that which we observe in order to give it a context. The ultimate goal of branding is to become top of mind in a category. James Bond’s 007 enjoys top of mind status in a specific category or genre of films-spy thrillers. Can you think of any other lead characters in this film niche? How about Jason Bourne in the Bourne Identity, or Ethan Hunt in Mission Impossible?

Spy thrillers are a sub-category or a niche within the large category of action adventure files. For example there are numerous action adventure heroes such as Batman, Spiderman, Superman, Ironman, X Men and the Incredible Hulk. James Bond is an action hero. But, would James Bond be associated with this same group of characters?

Try another category! When you think of late night talk show hosts, who comes to mind? Did you think of Jay Leno or David Letterman? How about a daytime talk show host? Did Ellen or Oprah come to mind? Notice that Oprah did not come to mind in the late night category.

Our minds think in categories, whether it is products, services, plants, animals or entertainment. That is why it is so important for you as a luxury real estate marketing professional to stand out and become known for some specific niche within the minds of your target market.

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Personal & Company Branding: How Strong is Your Brand Recognition?

July 19, 2012

The branding goal for luxury real estate marketing professionals is instant brand recognition. When you first saw the image above in this post, what thoughts came to mind? First, did you recognize the brand? If so, how long did it take you to recognize it? If you are like most people who are attuned to popular culture you know that this is James Bond’s logo and you recognized it in a Nano-second.

Isn’t it amazing how three numbers and a gun can communicate such a potent message? That message is spy story (suspenseful action-adventure with international intrigue). It conjures images of the main character in the story that has mass appeal. He is an archetypical action hero who is suave, debonair, charismatic, sexually attractive, a lady’s man, with tongue-and-cheek humor, who is bent on protecting mankind from evil.

Likewise, the words, “double 0 seven” have a similar impact. So do the first seven notes in the James Bond sound track (brand perfection in 7 notes). That image, the words and the sounds have made an indelible impression in your mind over the years and will likely be accessible to your recall for life. That is the power of branding!

This is the 50^th anniversary of the famed James Bond franchise. The 23rd James Bond film, Skyfall, is coming out this winter, starring Daniel Craig. The James Bond fan club is global. Are you thinking of seeing it?

Marketing luxury real estate at the level of market leadership requires that you establish an indelible brand in the minds of your target market. It requires instant brand recognition to sustain market leadership. How strong is your brand recognition?

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Luxury Real Estate Branding: Do You Need a Brand?

July 17, 2012

Do you need a brand for your luxury real estate marketing business? You need a brand if you are in pursuit of market leadership in your chosen niche. A clearly articulated brand facilitates referrals and decision-making on both sides (sellers/buyers) of the real estate game.

Like it or not, we are branded from the moment we are born. Brands are labels; they are a shortcut and a time saver for the mind. They are so obvious that we take them for granted. They become invisible.

The moment we look at someone, our mind’s computer begins to assess and pigeonhole. The more we are pressed for time the more we rely on snap judgments.

With products and services, once we pigeonhole a product or service in a category we equate the category and the brand. And, we only have room for a few products or services in each category, at least from the standpoint of being able to readily recall the brand name. The goal of branding is to achieve top-of-mind status in that short list of products or services within any given category.

To stand out and reach the top of the list you have to make it easy for others to communicate about your brand to others. That is the challenge of branding. It is all about making a compelling case to be at the top of the mental list, in your category, for your target market. If they are convinced that you should be at the top of their list, you must empower them to convince others.

Think of a brand that you like. What would you tell someone about it? How did that brand get to the top of your list? Getting to the point where one wants to refer you requires a continuous strategy and marketing plan that secures your brand recognition and your dominance in the marketplace.

Tiffany’s is the quintessential luxurious American brand when it comes to engagement rings. That is an example of equating a brand with a category. In the minds of young women about to be engaged, Tiffany’s is the place to go. It is at the top of the list in the engagement ring category. Tiffany’s has cultivated that top-of-mind status through brilliant strategy on all fronts. Last year, they premiered their now successful interactive site, What Makes Love True, solidifying their position as the premiere place for engagement rings.

Are you on the top of the list in your category for marketing luxury real estate? Or, do you need a brand?

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Luxury Real Estate Branding: What Color is Your Tomato?

July 16, 2012

In order to understand branding in the realm of luxury real estate marketing, it is important to understand brand categories. If market leadership is your quest, as a luxury real estate marketing professional, the key is to select a brand category or sub-category in your marketplace that you can dominate.

Here is a simple illustration of brand categories. The above picture shows a variety of heirloom red tomatoes with yellow stripes. If all of real estate could be classified as a tomato, then the heirlooms could represent luxury real estate. In the kingdom of heirlooms, there are many heirloom varieties.

This photo shows a darker red heirloom with green stripes, and beside it is the yellow heirloom with red striping. These three varieties could be classified as sub-categories in your marketplace. If yellow tomatoes represent luxury condos, the opportunity here is to be the king/queen (the yellow tomato) of the luxury condo market.

The differences in the DNA makeup of these categories are minor, but the characteristics in terms of shape, color and flavor are distinctive. The heirloom tomato’s target market is discerning tomato lovers in general, but each customer has their preferences. The key to branding is to clearly amplify the difference so that the customer looking for sweet, low acidic tomatoes, for instance, can quickly be matched with the right brand, yellow tomatoes.

Buying from or listing with a dedicated specialist gives your client confidence, that they are dealing with an expert. Branding therefore, accelerates the selection process in a sea of choices, and saves time for everyone.

What color is your tomato?

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Marketing Luxury Real Estate: The Agelessness of a Championship Mindset

July 12, 2012

Photo by Lucy Clark

Unlike some professions marketing luxury real estate is a game you can play at the level of market leadership at any age in your professional career. However, It takes the mindset of a champion and the championship mindset is ageless.

Both Serena Williams and Roger Federer have proven that point at this year’s Wimbledon Tennis Tournament. Serena became the first woman over 30 to win a Grand Slam title since Martina Navratilova over 20 years ago. And, she did so against odds that she would not return to the sport due to health problems. Federer looked like he peaked back at the Australian Open in 2010. Now, he is number one in the world, again.

What motivates a champion? What did these two tennis champs have to prove to the world? Sure it feels good to the admiration of peers and fans alike. But, a true champion has a core inner conviction to be the best he or she can be.

Market leadership is a game that requires strategy to gain or sustain the championship level. First, it requires identifying the winning formula to out think your competition. Then, it requires the consistency of repeating the winning formula over and over again.

But, without the mindset of a champion there is no strategy that can get you there. What is that mindset? It is a mental state devoid of self-doubt. It is a singular focus on a desired outcome that necessitates quickly releasing contradictory thoughts, accessing memories of previous triumphs and maintaining the perspective of what is at stake.

In our professional practice, as brand strategists to luxury real estate marketing professionals, we work exclusively with market leaders or their challengers. Our clients are those who already have the mindset of a champion or are reaching for it regardless of their age. Like Federer and Williams, they are true inspirations.

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Personal & Company Branding: What Is Your Unique Promise of Value?

July 10, 2012

In marketing luxury real estate you only have a Nano-second to capture the attention of your ideal clients and communicate your unique promise of value. If your message promises to solve a problem or add significant value you have the best chance of gaining a new client.

When your branding is spot on it is your shortcut in this communication process. Your personal or company brand must send a clear, succinct message to your target through words, symbols and sounds, a message that must encapsulate the distinct benefits that will be derived from doing business with you vs. your competition. Identifying, then distilling your unique promise of value into a concise message is an art. Here is an example of one company has mastered this art.

Coffee is one of the most ubiquitous commodities in the world. As such it poses one of the biggest branding challenges on earth. We give Seattle’s Best very high praise for breaking through the clutter and standing out in this highly competitive food category.

They came up with a suite of 5 different coffees that suit the needs of the majority of coffee drinkers. Their unique promise of value: making it easy to choose the perfect cup of coffee for you. They call it the Level System. From light and bright Level 1 to dark and bold level 5 they claim that they have an expertly blended level for everyone.

Can you see the brilliance behind this brand strategy? The next time you need to buy coffee you do not even need to remember the brand name. Just remember a number between 1 and 5. First they take the guesswork out of selecting the right blend. Then, they make it impossible to forget your preference or the preference of whomever you are buying for. “I’m a #2 and my roommate is a #5”.

For those, who are time-starved they just made life a little bit easier. They solved a common problem How can you distill your luxury real estate marketing message to accomplish the same goal?

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Personal and Company Branding: Is Your Slogan Engaging?

July 9, 2012

As a luxury real estate marketing professional do you have an engaging slogan? We have mentioned in a previous post, that using effective slogans as a personal branding and marketing strategy for real estate agents is an excellent way to differentiate you from the competition. The entire purpose of using a slogan is to engage your target market and get them talking about you.

Here is an example of a brand and a slogan that we noticed while dining in the town of Mathews, Virginia. One glance and you know exactly what type of business this is and who their ideal customers are. It is brief, succinct and to the point. And, it is humorous which captures attention.

Is your slogan engaging?

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Luxury Real Estate Marketing: America’s Luxury-The New Entrepreneurial Spirit

July 5, 2012

It is a luxury to live in America. In the spirit of celebrating America’s birthday, we are sharing with you some quintessential American places (and fabulous people we have met there) during our recent travels to work with some East Coast clients. The definition for quintessential: is representing the most perfect or typical example of a quality or class. Quintessential is an essential word to know in the Language of Luxury.

We discovered The Inn at Tabbs Creek on the Internet. Every online comment about the place was positive. After a 3-hour drive in traffic from Reagan National on a hot Virginia day, we turned into to an expansive tree- lined driveway and this magnificent view of the Inn appeared (see photo). We were warmly greeted and shown to our room via the flower gardens lovingly tended by owner Lori Dusenberry. Our room had a view of an inlet of the Chesapeake Bay. (see photo below)

Since it was dinnertime, our greeter, Lori’s brother, gave us suggestions and directions to restaurants in nearby Mathews, a quaint little town. As we drove out, we noticed a large plot of land with a myriad of vegetables, the domain of owner, Greg Dusenberry, Lori’s husband. These wonderful organic vegetables would be part of our breakfast for the two mornings we were there. Lori and Greg exemplify the spirit of entrepreneurship and innovative thinking of an American family owned business. We think this excerpt from their website expresses their ingenuity and their intentions perfectly.

“The main Inn is an 1880's newly renovated farmhouse with a separate cottage housing the luxury suites just across the garden and pool. An eco-friendly and certified Virginia Green lodging establishment, The Inn at Tabbs Creek is just the place if you appreciate the natural splendor of the outdoors yet want the luxury and comfort of a casual B&B. We have also partnered with Carbonfund.org to pay for our carbon offsets, so that you may stay "Guilt Free"! (or at least, Carbon Neutral).”

Our breakfasts at the Inn were the culinary highlights of our trip. We had crabmeat omelets with their fresh crabs harvested that morning, and fresh steamed asparagus. The previous morning we enjoyed a sausage quiche with heirloom tomatoes from Greg’s organic garden. The muffins, filled with fresh local berries, came right out of their oven, piping hot, to our table.

Our hosts graciously invited our clients to join us for our breakfast feasts on both days of our stay. We felt pampered, loved and definitely spoiled.

The Inn at Tabs Creek is a quintessential American place, with its picturesque setting, its superb cuisine and especially the generosity of spirit that was extended to us. It definitely rivals any of the French or Italian countryside inns that we have experienced.

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Luxury Real Estate Marketing: America’s Luxury: Localvores

July 3, 2012

Localvores, a word coined in 2007 in San Francisco, defines a growing trend of eating foods grown in one’s geographical area. The numbers of farmers selling directly to consumers has doubled in the years between 1997 and 2007, and is continuing that doubling trend according to the US Department of Agriculture. This trend has enhanced the economy of local communities. Eating local is considered important as part of a healthy diet.

Part of our luxury real estate marketing research, as we travel to our clients’ marketplaces, includes exploring the local foods. In Virginia’s Chesapeake Bay our clients took us to lunch at Merroir which overlooks the Chesapeake Bay. Merroir (smart branding) is a play on the word “Terroir”. This is a French word term used in wines, chocolate, and coffee to describe the unique attributes of the area’s soil and climatic conditions which gives a distinct taste to that particular wine or food. And, "Mer" means sea in French, as "Terre" means earth.

Merroir is a tasting room for oysters grown locally in different areas of the water. According to co-owner Travis Croxton, “Every oyster is influenced by its marine surrounding, and you can taste those differences.” Three types of oysters are on the menu: Rappahannock River Oysters, Stingray Oysters and Olde Salt Oysters. The Rappahannock River Oysters are raised in the tail end of the river of the same name, where the freshwater meets the saltwater of the bay and are sweeter. Stingrays grown in Mobjack Bay are saltier. The Olde Salt Oyster from the Chincoteague Island is the saltiest of the three. The limited menu includes steamed clams, crab cakes, salads and fried green tomatoes.

We loved the Rappahannock River Oysters. We also ordered crab cakes (grown locally and fresh that morning) and sampled fried green tomatoes. It was gourmet heaven. So if you ever find yourself anywhere near the Chesapeake Bay in Virginia, make sure you stop at Merroir‘s. They are open Wednesday through Sunday. We are thankful for all the localvores in America.

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Captain Stannard House

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Luxury Real Estate Marketing: America’s Luxury: Warm, Welcoming People

July 2, 2012

It is a luxury to live in America, and in the spirit of celebrating America’s birthday, we are sharing with you some of the most quintessential places and people we have experienced in our recent travels to our clients marketplaces. The definition for quintessential: is representing the most perfect or typical example of a quality or class. This is also in our opinion one of the facets which defines luxury.

Country Inn in Westbrook, Connecticut

This is where we learned from Jim and Mary Brewster (the owners of this wonderful bed and breakfast), this sentence, “We cannot wait to spoil you”. And they were true to their words. If you read our blog, you probably saw the picture of the tasty brownies treats on the dresser. Breakfasts were delicious, and the common areas comfortable and inviting. The House has been lovingly restored, and the work was done by an architect who specializes in restoring and building homes that are a 100 years old.

After dinner, we spent the evenings in the living room on comfortable leather couches catching up with our correspondence. We felt completely at home. The Stannard Inn is located one block from the beach, where the Atlantic meets the river. We came in strangers and we left as friends, and that is one of America’s luxury traits—warm and welcoming people. We are looking forward to our next visit.

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Luxury Real Estate Marketing Tip: "Real Books" In Luxury Home Design

June 29, 2012

As a luxury real estate marketing professional, it is important to keep up with the trends of luxury home design. Although kitchens, man/woman caves, master suites are still considered as leaders in exceptional home designs, the home library is emerging as a “must have room” in luxury homes and apartments. Architectural Design magazines have dedicated a large portion of their recent issues to library designs, featuring many luxury homes with exceptional libraries.

The idea of having a home library can be traced to Roman times. A sign of a well respected Roman was demonstrated by his library regardless of whether he could read or not. It was a symbol of status and intelligence. Today’s home owners are designing llibraries as an expression of their personality, a retreat from all the usual home noises, a way to display their book collections, and a comfortable place to curl up to read a book.

With the advent of digital readers, and the closing of many of the larger book chain stores (Borders and Barnes & Noble), it seemed that “real” books were doomed to extinction. However, used book stores are reporting a large uptick in sales to a new customer base: 30 plus years old. These young homeowners are walking in to buy books by the foot, or specific collections to display in their newly designed libraries. They want their children to experience “real” books. Rare book dealer Donald Heald a 40 year old New York company has noticed that his clientele now also includes a growing number of individuals in their 30’s.

"If you want to own a great atlas of London from the 18th century, that when you hold it in your hands you're transported, there is no app for that," Mr. Heald says.

The trend for a library in the home is also appearing in median home prices. Many home owners are building shelves for books. DIY shows and magazines are giving detailed instructions on how to build shelving and library nooks. From a book lovers’ perspective, it is reassuring that all things digital do not always rule the home roost.

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Luxury Real Estate Marketing Tip: Keep Your Message Brief

June 27, 2012

As a luxury real estate marketing professional it is important to communicate who you are and what you do with words and imagery. Your collateral materials and web site should articulate the essence of your brand in a nanosecond.

We often attribute the quote of “A picture is worth a 1000 words” to Confucius. However, research shows that this attribution to Confucius was given by an advertiser named Fred Barnard who said he called it a Chinese proverb, "so that people would take it seriously”. As time went on, Confucius was credited with this adage. Mr. Barnard promoted the use of images on the sides of streetcars as part of an advertisement. His sentence was “One Look is Worth a Thousand Words (1921 trade journal, Printer’s Ink.) In another ad in 1927, Mr. Barnard used the phrase, “One Picture is Worth Ten Thousand Words”

More research reveals that in the novel Fathers and Sons written in 1862, the Russian writer Ivan Turgenev wrote, “A picture shows me at a glance what it takes dozens of pages of a book to expound.”

Here is an example of a picture is worth a thousand words. The entrance to the small 6 acre Dog and Oyster Vineyard in Virginia is flanked by two corkscrew sculptures each measuring 40 feet. There are no signs needed to express what is happening here.

So keep your message brief, your pictures bright and expressive so you don’t need 1000 or 10,000 words to say it.

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Luxury Real Estate Marketing Tip: What is your “VA” (Value Added)--Part 2?

June 25, 2012

To distinguish yourself as a luxury real estate marketing professional you must be able to instantly articulate how you stand out from your competition You must be able to answer the question: What is your “VA” (Value Added).

Most of what used to differentiate you, such as integrity, competence and local market knowledge is simply not enough. These attributes have become the commodities of the trade in the same way MLS search, via IDX, has become a commodity on any broker or agent website.

For purveyors of luxury goods and services the #1 challenge is commoditization. Sooner or later, without offering a strong Value Added service, you will have to resort to competing just based on price. Look what is happening in retail!

An increasingly large numbers consumers are doing their shopping research at retail stores but do not actually buy there. Instead, they comparison shop for the best prices online (sometimes right in the store with their smart phones). At sites such as Amazon, they can purchase the same product for less in one click and also get free 2-day shipping. Or, perhaps, the consumer discovers that the same item is on sale at a competing store just a few blocks away.

BACK TO THE FUTURE

During a recent business trip to the East Coast we were able to spend some time checking out the specialty shops and boutiques in Georgetown, Washington D.C.. There, we discovered the Keith Lipert Gallery who specializes in contemporary, affordable fashion jewelry and decorative art. Lipert travels the fashion and cultural capitals of the world to find distinctive pieces that are often crafted by small family-owned businesses. His clientele is both sophisticated and international, people who not only appreciate his adroitness at discovering unique hidden treasures, but also appreciate his extraordinary personalized service.

As customers peruse the displays of fashion jewelry, Lipert will approach them with an item that he feels would suit them and insists they try it on with his assistance. There is no pressure here. He just wants to make your shopping experience extraordinary, like it used to be in Europe and still is in some cases. It allows him to engage his customers in a dialogue that does well beyond self-service.

This “back to the future” customer service approach plus his offering of unique items that cannot be found elsewhere is his VA. What is yours?

To read what is your value added, Part 1, click here.

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Marketing Luxury Real Estate Tip: A Picture is Worth a 1000 Words!

June 24, 2012

As a luxury real estate marketing professional it is important to communicate who you are and what you do with words and imagery. Your collateral materials and web site should articulate the essence of your brand in a nanosecond.

Here is an example that was pointed out to us by our clients in the Virginia Chesapeake marketplace. Notice how the building columns are designed. What a wonderful way to capture the attention of your target market with humor and bring a smile to everyone's face.

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Luxury Real Estate Marketing Tip: What Is Your “VA” (Value Added)?

June 20, 2012

As you approach the realm of market leadership the difference between good and great service in the field of marketing luxury real estate cannot be measured by the degree of competency and integrity. The fundamentals of successfully engineering real estate transactions are the same; you cannot get away with incompetence and lack of integrity for very long. So how do you differentiate yourself from your closest competitors if market leadership is your quest?

The answer is the value that you add. Added value is the extra service that you offer that your competitors do not include in their winning formula. Here is an example.

There are many aviation brokers who provide the service of buying, selling or leasing private jets. We recently met an aviation broker who put his company in a class unto itself by offering his clients an extra service that they cannot find anywhere else. His firm targets Fortune 500 companies exclusively and offers them a consulting service to help them analyze the most cost efficient way to allocate their resources for private aviation

As expert number crunchers in this very narrow niche they position themselves as trusted advisors rather than mere brokers and immediately set themselves far apart from their competition who just broker planes. They basically break even in terms of being compensated as consultants. But, they are awarded the business as brokers because they thoroughly understand the specific needs of their corporate clients. As a result, they can represent their clients’ interest far better than their competitors. At the Fortune 500 level the rewards are obviously worth it. This formula simply would not work for the private aviation needs of small to mid-sized firms.

This aviation brokerage firm identified an uncontested market niche that they could satisfy better than anyone else in the world of private aviation for Fortune 500 companies. As a result they create added value as consultants by saving these large companies a significant amount of time and money. Their analysis provides an objective criteria for making private aviation decisions to buy, sell or lease planes.

They do not need a clever “sales pitch” to ace out their competition. They do not need to lower their brokerage commission rate to win business. Nor, do they need to know the right people who can get them “in the door”. Their consulting service is the answer to the prayers of their clients. They are the perfect match to the real needs of their clients.

As a luxury real estate marketing professional can your “VA”,or added value,be?

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Luxury Real Estate Marketing Tip: We Cannot Wait to Spoil You

June 19, 2012

In our travels to Connecticut to work with one of our clients we stayed at a charming Bed & Breakfast Inn. Before we arrived we received a welcome letter that said, “We cannot wait to spoil you”. And, indeed we were spoiled in so many ways! Let this be your mantra for providing extraordinary service with exceptional care as a luxury real estate marketing professional.

One of the many ways in which we were spoiled was a plateful of little “mid-night snacks” that awaited us when we returned to our room at night, with a personal note. The first night it was some nibbles of rhubarb crumble. The next night it was tiny morsels of brownies. The husband and wife proprietors were extremely gracious and made us feel very much at home.

The last night we were there we went to a great seafood restaurant that was located within a seaside hotel (not ours). Before our entree was served, a fire alarm sounded and the entire restaurant had to be evacuated.

The “fire drill” was not a bad experience; nothing serious actually happend. Instead we had the opportunity to meet some of the other patrons of the restaurant who were delightful. For our inconvenience, however, we were comped coffee and dessert.

Think of running your luxury real estate marketing practice like a B&B or a great hotel How can you provide this level of extraordinary service, in your practice? Think hospitality vs. real estate. Then let your clients know that you cannot wait to spoil them.

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Luxury Real Estate Marketing Tip: The Next Trend Is Experiential Marketing

June 14, 2012

In our post, “Meet the Henrys”, we emphasized that this demographic (High Earner Not Rich Yet) values experiences over ownership of objects. This trend has become evident in every segment of the luxury goods and services market. Lifestyle is now of paramount importance especially when it comes to marketing luxury real estate. In marketing a luxury home, it is more important to tell the story of the lifestyle rather than focusing on granite countertops or mahogany floors.

For instance, people who are moving to Santa Barbara are willing to own smaller homes because they want to live the “outdoor” lifestyle that the environment offers. The experience is more important than the size of the home. Their focus is the weather, the beach, the cycling trails, the hiking venues, golfing, sailing, fishing and kayaking. Others want to walk to the downtown area for shopping, restaurants, and theaters.

In Aspen, the Aspen Institute is an important market draw. Its stated mission is twofold: “to foster values-based leadership, encouraging individuals to reflect on the ideals and ideas that define a good society, and to provide a neutral and balanced venue for discussing and acting on critical issues.” The Institute has a broad appeal for tourist as well as for affluent Aspen home owners.

Sell your market on the lifestyle benefits they would derive from moving to and living in your community. Smart agents will take clients for lunch in their harbor/beach area, so that their guests can feel what it would be like to live in their town on the waterfront. Others will invite them for lunch at an exclusive club on top of the highest mountain peak. In urban communities, such as New York, walking to a great restaurant for lunch from their apartment may seal the deal.

Be mindful of this experiential trend and apply it to your marketing strategies. That is, if you are interested in the “unabashed pursuit of market leadership”, as we say.

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Marketing Luxury Real Estate: The Luxury of Putting Life Back into the World

June 13, 2012

What would you do if you won the lottery and the money took care of all your needs? What would you do with the excess funds? Would you leave a legacy for others to enjoy?

“The relation with the world that I want is to be putting life back into the world, rather than taking life out of it.”—W.S. Merwin

U.S. Poet Laureate and two time Pulitzer winner, W.S. Merwin decided to grow a forest of palm trees on 19 acres of officially designated wasteland on the north shore Maui, Hawaii. He has gathered palm seeds from various botanical gardens worldwide.

The forest has been grown sustainably with recycled water, and solar energy. Within this windswept region of microclimates various specimens of palm are thriving including a rare treasured palm from Reunion Island in the Indian Ocean. Mr. Merwin remarks “I know nothing about Reunion Island, but where a tree grows you have a place.” Botanists have actually catalogued over 2500 species of palms trees globally.

His love of trees began at a young age, Mr. Merwin remarks, ‘My father was very repressive. As a child I didn’t trust the feelings of pretty well anyone except my mother. But I trusted the tree in the backyard. We were friends. If I could talk to it, it would talk to me. But I did not know how”.

“Later in life I was talking to the biologist, E.O. Wilson about that, and he said talking to trees was not silly at all. “The trees gene code is much older than yours,” he said, It’s not withholding anything. If you know how to talk, it will tell you everything you want.”

The Mervin Conservancy is his legacy. Check out the web site and the video as Mr. Merwin takes you on an enchanting tour of the forest.

“In between twenty-five or thirty years I have planted about 850 species of palms, and at least four or five times that many actual trees. I have had no map….We both hope that the whole of this land can eventually become a palm sanctuary. Just being here, with the garden, the `palm forest,’ all around us, day after day, I think has taught me a great deal.” —W.S. Merwin

What will your legacy be?

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