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Welcome to Estate of Mind, a podcast series all about motivating, inspiring, and educating you in the art of selling luxury real estate. All real estate professionals, no matter how experienced, face challenges working in the upper tier. That's where The Institute for Luxury Home Marketing comes in. Our goal is to share the knowledge and experience of our guests, successful real estate professionals, coaches, Institute trainers, and other real estate experts working with high-net-worth indiv ...
 
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show series
 
Networking Both Locally and Globally to Build Your Sphere of Influence: When it comes to networking as a luxury real estate professional, you should always come to your contacts with something useful in order to help establish yourself as their trusted advisor. Becoming a trusted advisor is the key to not only expanding your referral network, but f…
 
Positioning Yourself as a Thought Leader in Luxury Real Estate: Building connections in luxury real estate is a huge component of finding future success within the industry. The network you build, otherwise known as your sphere of influence, is not only the foundation of your referral base, but also the foundation of a successful professional caree…
 
Building Your Brand Images Independently from Your Brokerage’s Brand Image: When it comes to effectively positioning yourself as a luxury real estate professional, your brand image and the reputation you build are incredibly important. And while your brokerage may enjoy a certain type of reputation amongst other professionals, your individual reput…
 
Building Your Personal Brand Will Help You Grow Your Business: Do you consistently work on strengthening your personal brand as a luxury real estate professional? It’s important to remember that your personal branding is different from the branding associated with your brokerage. While the two may in fact be very similar, they aren’t exactly the sa…
 
Why Delivering the Highest Level of Service is Always Key: When it comes to working with luxury real estate clients, there can sometimes be a disconnect in terms of the quality of service provided versus the expectations from the client. The best way to avoid this disconnect? Always strive to deliver the absolute highest level of service imaginable…
 
Differentiating Oneself is Key in Luxury Real Estate: Capitalizing on your past experiences and current skill set is a great way to set yourself apart from every other real estate professional in your market. One huge differentiator that you can leverage to stand out even more? Continually educating yourself. In fact, in order to fully adopt a luxu…
 
Being Authentic is the Best Approach When It Comes to Working with the Upper Tier: Authenticity builds trust in luxury real estate. In order to start building a strong foundation of trust amongst clients, you have to ensure that they recognize it is your intention to help them every step of the way. Helping them is your top priority, and that doesn…
 
Out-of-Market Luxury Purchases On the Rise: The general shift in mindset that’s taken place the last two years will have a lasting impact on the world of luxury real estate. With remote work now more commonplace, buyers are no longer confined to either their existing or nearby markets. Consequently, out-of-market purchases are now growing in popula…
 
Navigating the Ups and Downs of Luxury Real Estate: It’s no secret that the landscape of the real estate industry has changed over the last two years — especially when it comes to luxury properties. While adjusting to market conditions can be stressful at times, one way to mitigate this stress is to constantly work on expanding your sphere of influ…
 
The Next Normal and the Booming Luxury Real Estate Market: With consumer and purchasing behavior having shifted as a result of the pandemic, the way we value homes is forever changed. Where do we go from here though, and which factors do we need to keep in mind as we move into the next normal? If 2020 was the year of resilience, 2021 was the year o…
 
Setting Yourself Up for Success in Spring: Do you know what one of the biggest concerns of sellers is these days? It’s not being able to get above listing price for their own home — it’s being able to find a new home once their home sells. To help curb this very valid concern, luxury real estate professionals need to get the process started as earl…
 
Knowing How to Balance Your Messaging Is Key: When it comes to marketing, knowing your audience is the first step in determining how you should approach your messaging. If you’re targeting a specific market, you need to make sure that your messaging plays off of the ideas that are important to the individuals in that specific area. Remember, if you…
 
Continually Growing Your Luxury Database: The key to a healthy luxury database is constantly building up your referral network. Whether your referrals are coming from past clients, your digital web properties (such as your YouTube channel), or from other real estate professionals in your network, it’s important to look for referrals from a variety …
 
Why Addressing Every Square Inch of a Luxury Property is Important: In the world of luxury real estate, one of the most effective ways to set one property apart from the rest is to properly stage the home — and partnering together with an experienced luxury home stager is the key to professionally showcasing the property and unlocking the home’s tr…
 
How Different Generations Use Technology: When it comes to pointing out the differences between Millennials and Gen Z versus Gen X and Baby Boomers, technology is usually one of the biggest differentiators. Younger generations grew up with the technology we use today, or at least comparable, earlier versions of it. While it might take older generat…
 
Four Different Types of Loyalty: Barry explains that there are four different types of loyalty that can be split into two different categories: transactional loyalty and relational loyalty. Within transactional loyalty, you’ll find two specific types of loyalty. Mercenary loyalty centers around the possibility of someone else being able to deliver …
 
How Andrew Attracts Luxury Home Buyers in the Niagara-on-the-Lake Area: With Niagara-on-the-Lake being recognized as one of prettiest towns in the world, the demand for available inventory is always high. To attract the right buyer, Andrew explains that he wins his listing presentations by tapping into his existing network and database. In fact, 85…
 
Where to Start with Lighting and What “Lit Correctly” and “Dim Correctly” Means: With lighting design, Lynne always starts with the lifestyle of the client, regardless of whether she’s starting from the ground-up or retrofitting an existing home. From her experience In Florida, Lynne often sees her clients replacing burnt out bulbs with light bulbs…
 
What C3 Stands For and John’s Marketing Vehicles: C3 stands for Character, Culture, and Commitment, which are the three things John Simmons and his partner, Jesse Laner, focus on. What makes C3 different from other agencies — and one of the reasons why John is able to so effectively get his company’s message out in a competitive environment — is th…
 
Topics covered and questions you’ll uncover during this episode: Why “segmenting” your email list is key for sending the right marketing messages to the right people, creating a bespoke experience, and getting better results The importance of understanding technology’s role in facilitating the customer or client experience, and why it’s still essen…
 
Topics covered and questions you’ll uncover during this episode: When to use a sales script and when to improvise Why practicing Yastrow’s habit of “input over output” is key for closing more business deals and creating stronger client relationships How to create “conversational momentum” to keep your prospect focused only on you and your conversat…
 
Topics covered and questions you’ll uncover during this episode: Why getting outside of your market to network and train can benefit your luxury real estate practice and skill set The importance of designations and how they help distinguish you from the competition in a saturated market Why it’s helpful to mentor new luxury real estate professional…
 
Topics covered and questions you’ll uncover during this episode: Why it pays to take your time bringing a home to market versus rushing to get it listed and sold How to overcome the “have you sold anything in this neighborhood?” question — even if you haven’t The importance of giving prospects branded, data-driven market information The reason you …
 
Topics covered and questions you’ll uncover during this episode: How to budget your marketing dollars when you're a new or seasoned luxury real estate professional They key to making clients feel like your services and marketing were worth every penny The biggest mistake luxury real estate professionals make when they’re busy Why lowering your mark…
 
Topics covered and questions you’ll uncover during this episode: What to consider when choosing your first brokerage The importance of asking for help and mentorship when you’re first starting out or returning to luxury real estate after a hiatus Why joining local causes, groups, and community activities is still an essential part of networking, ev…
 
Topics covered and questions you’ll uncover during this episode: An overview of how the luxury market has changed since the beginning of the pandemic Creative ways luxury real estate professionals and their buyers are managing low inventory levels What affluent clientele want now versus when the pandemic started How attached homes are becoming popu…
 
Topics covered and questions you’ll uncover during this episode: How to identify and produce “moments that matter” in your clients’ experience with you Recognizing the difference between telling someone you’re an expert and actually demonstrating you’re an expert Why clients shouldn’t be privy to all the behind-the-scenes happenings that take place…
 
Topics covered and questions you’ll uncover during this episode: How to identify and produce “moments that matter” in your clients’ experience with you The unique approach Jim uses to give closing gifts that win him repeat business and referrals The importance of knowing how and what you want your client to feel, think, and do from start to finish …
 
Topics covered and questions you’ll uncover during this episode: Why staging and styling are non-negotiable, even in a fierce seller’s market The difference between “staging” vs. “styling” to make a space feel more welcoming and complete How the Ayans put their own spin on traditional staging to craft “aspirational” spaces that sell An approach for…
 
Topics covered and questions you’ll uncover during this episode: The real reasons behind the unprecedented seller’s market over the last year, and why it’s not just low interest rates fueling this market How the Tax Cuts and Jobs Act of 2017’s $750,000 mortgage cut for new home purchases is affecting buying decisions in the upper tier What makes an…
 
Topics covered and questions you’ll uncover during this episode: Why it may be more valuable to cultivate professional relationships rather than client relationships How sharing useful, valuable data like The Institute’s Luxury Home Market Report can bring you beneficial partnerships and new clients Why luxury real estate professionals should know …
 
Topics covered and questions you’ll uncover during this episode: Positioning yourself for success in a low-inventory environment A paradox: Why are more experienced agents losing more listings in this market? Why knowing your market does NOT mean knowing your comps right now What "relevant properties" means in current conditions How being a "Wise A…
 
Topics covered and questions you’ll uncover during this episode: How we shifted our advertising efforts to include not only the print world, but the digital world too The major difference between marketing to the luxury and non-luxury markets How to find market opportunities (and eventually dominate the market) through research — not simply decisio…
 
Topics covered and questions you’ll uncover during this episode: How do you get in front of the ultra affluent? How do you scale a referral in a systematic and proactive way? What are the distinctions between mass affluent to the ultra affluent? What’s Wealth Quotient’s methodology? How does it work? Who does it apply to? How do you set up a survey…
 
Topics covered and questions you’ll uncover during this episode: Online communities can open up the world and lead to deep-meaning relationships Successful communities provide three things: purpose, member connection, and multiple shared experiences For real estate professionals, connecting with other like-minded professionals is the key to success…
 
Topics covered and questions you’ll uncover during this episode: The 12 Week Year is about training your consciousness to be aware of how longer term goals are achieved via short term planning The three guiding principles at play are Accountability, Commitment, and Greatness in the Moment The five core principles discussed are Vision, Planning, Pro…
 
Topics covered and questions you’ll uncover during this episode: Buyers versus sellers Why does the Supreme Auctions model favor the seller, rather than the buyer? Why are buyers in control in the traditional luxury real estate market? How does the “sellers-in-control” model work? What’s the marketing strategy that gets potential clients to pick up…
 
Topics covered and questions you’ll uncover during this episode: The “person is the brand” Reputation = referrals What's the important and powerful part of your brand? How do you make a person feel when they interact with your brand so they remember you? How do you build your reputation in the right ways to make it easy for clients to refer your br…
 
Topics covered and questions you’ll uncover during this episode: Developing and keeping relationships with other real estate agents; and why that’s important Competition vs. coopetition Maintaining your professionalism Kofi’s rules for texting Embrace technology, provide the human element How to have memorable interactions Be an expert. Be excellen…
 
Topics covered and questions you’ll uncover during this episode: Identify your opportunities Working on your natural strengths Using expired listings Becoming a market expert Characteristics of luxury buyers and sellers The importance of the broker tour day Utilizing a quiet sale How to “get in the door” Budgeting for staging Can you have too many …
 
Topics covered and questions you’ll uncover during this episode: The homeowners deepest concern How to differentiate yourself from you and your competitor Listing properties more than once Where agents fall short when marketing What to do after you get your listing The number #1 call David gets from agents The importance of preparation Can you leve…
 
Topics covered and questions you’ll uncover during this episode: How David used his marketing experience to become a top real estate agent The luxury market report The importance of success being measurable The best content that goes in to the market report The luxury mindset, at all price points How agents can use the luxury market report to domin…
 
Topics covered and questions you’ll uncover during this episode: Being obsessed with opting people in Dealing with a discerning consumer Creating a “5 star hotel” experience How to network correctly Leveraging your passions to selling opportunities How to transition your conversations to opportunities Setting purposeful goals Playing the long game …
 
Topics covered and questions you’ll uncover during this episode: What defines a home as “Luxury”? Buying trends of the affluent The importance of staging Utilizing market statistics and trends Preparing a home for the market Certifications and designations for professional stagers Having a good relationships with a stager and agent Staging for the …
 
Topics covered and questions you’ll uncover during this episode: Becoming a resource and confidant to client How you can make customers commit to you Connection of belief and actions How to create an impactful customer experience Using language and storytelling to create customer beliefs Guiding customers from their challenges to the goal What make…
 
Topics covered and questions you’ll uncover during this episode: How to create inbound relationships through content How is inbound marketing more of a mindset when it comes to marketing and sales? How does inbound marketing create more authentic relationships with the people who will eventually become your customer? Email marketing is very much al…
 
Topics covered and questions you’ll uncover during this episode: The findings from a Wall Street Journal/Dow Jones research study What was the main focus of the study? Who did it target? Why investigate the luxury real estate habits of Mansion Global’s readership? What’s the demographic of Mansion Global's readership? Where are the affluent moving …
 
We understand that becoming successful in the upper-tier real estate market can be complicated. All agents, no matter how experienced, face challenges in working with an affluent buyer or seller. Working with the institute will help you overcome these obstacles, whether they are real or perceived. Along the way, we’ll bring on guests that will help…
 
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