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3 of the Best Ways to Showcase Your Luxury Listings Online
Selling a luxury real estate listing comes with its share of challenges--in part, because discerning luxury shoppers are in the market for the very best. In order to maximize your return and find the right deal at the right time, it's crucial to do everything you can to market your luxury listings to your target audience. Taking the time to market your luxury listings effectively online will help ensure that you're reaching the widest possible audience, and keeping their attention when they see what you have to offer. Today, we're going to take a closer look at three proven tips to help you showcase your luxury listings online.
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Meet Michael Gabriel: The "East Coast's Craigslist" Is Now a Luxury Real Estate Leader
When I interviewed Craig Newmark for California Real Estate magazine a dozen years ago, it struck me how down to earth and unassuming he was. After all, he had created one of the most pervasive and influential internet sites in the world. But Craig remained remarkably modest, humble and approachable. I called him the "Reluctant Internet Mogul." Last year, Forbes wrote how Craig has now become the reluctant internet billionaire. When I interviewed him by phone, he spoke with me sitting at his favorite San Francisco coffee shop, dog treats in his pocket, ready for dispensing to an anticipated visitor as part of his daily routine. His story and his business/life philosophy were captivating and compelling. And he was so... San Francisco. He remains one of the most intriguing people whom I've ever interviewed. I became a lifelong fan. Becoming the East Coast's Craigslist Fast-forward to last year and an interview I had with Craig's East Coast counterpart, Michael Gabriel, founder of Gabriels Technology Solutions.
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Selling to High Net Worth Individuals
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Can Luxury Real Estate Learn from Luxury Clothing?
Customer experience is the cornerstone of luxury purchases. Buying luxury yachts, jewelry, clothing, cars, restaurants—you name it, it's always different. Now let's look at the other side of the coin. Have you noticed that retail in your downtown area is dying? Have you noticed that malls are struggling? Macy's, Target, Walmart, Gap, Nike and so many other retailers are struggling. The silent voices are the small, non-chain merchants, commonly known as the mom and pop retailers. When is the last time you went into an independent toy store? The consumer has gone online, and Amazon is the category killer. Duh! Right? Consumers use the internet to shop. It is a lot easier to find products and pricing using your keyboard and a browser than it is to go in and out of stores, parking, cashier lines, etc.
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How to Understand the Luxury Buyer: They Are Different
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Do You Need a Celebrity Broker to Stay Competitive in the Luxury Real Estate Market?
The latest in real estate trends: Celebrity brokers are upping the ante on sales in the luxury market. With the popularity of reality TV in regards to the real estate and home improvement market, however, this probably will not come as a surprise to many agents, sellers, or buyers. Who's cashing in on the celebrity broker trend? It's no secret. CNBC's "Secret Lives of the Super Rich" asked some of the top celebrity brokers how their starlit status is helping them cash in. Here's what they had to share: 1. Ryan Serhart – "Million Dollar Listing New York" Actor-turned-agent Ryan Serhart leads one of the top-selling teams in New York. He credits his success in building his brand to the show. He had only been in business a year and a half before his audition, and remembers praying for his phone to ring. Now the phone is ringing, and his status is opening new doors he would otherwise never have been able to.
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Everyone Wants to Sell Luxury Real Estate
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Hunt Tops Who’s Who List in Luxury Real Estate
When you think of western New York and cities like Buffalo, Rochester, Syracuse and Albany, you probably do not think of luxury. Your impression is way off the mark. These communities were once the capitals of the industrial revolution in America and occupied the space that Silicon Valley holds today for innovation. Those homes from that era that include designs from Frank Lloyd Wright continue to afford luxury lifestyle today, and are complimented by some amazing new and remodeled properties. This area is situated along the Great Lakes and bordering Canada's Golden Triangle. They are densely populated, distinguished among the NFL and NHL cities, and complimented by outstanding arts communities and parks. The many mansions and grand homes continue to flourish in the real estate community where luxury lifestyle trades at a 1 to 5 discount over many other regions of America with similar attributes. Hunt is a member of The Realty Alliance, a group of the 70 largest firms in America. They are among the largest ERA franchises in the world and among the most active participants in the CARTUS relocation network. In the first quarter of this year, they were invited to join Luxury Real Estate's network of Who's Who in Luxury Real Estate.
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"Sexy" Sells in Luxury Real Estate Marketing Verbiage
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Green and Smart Homes Top the Want List for Luxury Home Buyers
Ultra-high net worth (UHNW) individuals, those with a net worth of at least $30 million, are changing real estate trends – and not just for the ultra-rich. According to Wealth-X and Sotheby's International Realty UHNW Luxury Real Estate: Multi-Use Homers Report, topping the want list of the world's wealthiest individuals: Homes that are both smart and green. A Smart investment Smart homes offer amenities those with UHNW long for, including top-of-the-line security, energy management systems, HVAC control, health monitoring, media, music, and more. Further driving the trend: Almost 10% of Americans with UHNW made their moolah in the tech industry. Putting the green in greenbacks UHNW real estate investors also want green homes. Home that are not only sustainably sourced and constructed, but environmentally friendly and sustainable with features like solar power, geo-thermal heating and cooling, rainwater collection, and efficient appliances. Sphere of influence UHNW buyers are fueling real estate trends, shifting consumer perception with the help of other knowledgeable homebuyers to invoke a 10% rise in LEED-certified homes in the U.S. – double in Canada. The market has been quick to respond.
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A Look at News Corp's New Luxury Real Estate Portal
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Brokers Out-Marketing Competitors
I attended Luxury Connect last week in Beverly Hills. If you are not familiar with the event, it was expertly delivered by the team from Inman News that is host to the Real Estate Connect conferences held annually in New York City and San Francisco. I don't think that anyone really appreciates how difficult it is to put on a great event. This group does it with ease and grace even when pitted against seemingly insurmountable challenges. There was so much fanfare about this event, it is speculated that the original property selected for the event was sold! A week before, they had to move the conference to a new location – another $100M+ listing in Beverly Hills. It was as perfect as possible, despite a few logistical challenges that everyone quickly forgave. Luxury is different, and this Luxury Connect highlighted just how different. One quote that put it all together for me came from my friend Mark McLaughlin, CEO of Pacific Union: "We develop lofty strategies that are different and difficult, and that nobody else will do." It took me awhile to understand how profound this statement was. I did not fully internalize it until I watched Steve Ozonian of Carrington look at a new product from Matterport – a "3-D virtual tour." I had seen the Matterport product in the past. They have signed up a number of large and progressive brokerages. I naturally put them in the category of a very fancy virtual tour. What I learned from watching Steve Ozonian look at the 3D Showcase product for a few minutes is that it is so much more. It is what Mclaughlin was talking about. It is a product that stops you in your tracks. It differentiates home marketing. It provides firms, who want to offer elite services, the ability to translate excellence into something that stuns affluent clients. There is not much that Ozonian has not seen before.
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Luxury Home Price and Taxes
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Social Media for Luxury Real Estate
Anyone trying to sell anything knows that marketing is important, and the marketing industry has become obsessed with social media. For most real estate, this is no exception, but for those in the luxury niche, it can be difficult to pinpoint which marketing tactics just won't work. After all, luxury is all about exclusivity, while social media is all about accessibility. Making the two work together is tricky, but it can be done. History of Luxury Marketing Marketing in the luxury niche has always been prone to paradoxes. You want your brand to be visible, but not easily obtainable. It's just like you want your product and service to be accessible and convenient for your target audience, but not to the world at large. In both scenarios, the answer comes down to knowing and targeting your audience. Yes, you might want the world to know your name, but you don't want to pull a Gucci and lose your status because of overzealous sales and marketing tactics. When Gucci tried created a mobile app, they failed to connect it with fashion; this created a disconnect with their audience and failed to meet user expectations. They also failed to maintain the quality of their products in their social atmosphere, which made the brand seem like it was losing focus.
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How to Host a Broker Open House for a Luxury Listing
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Luxury Homes for Sale Skyrockets Above 30,000 Nationally
Inventories of homes for sale for over one million rose above  30,000 nationally last week according to the Institute for Luxury Home Marketing’s weekly housing report.  Average days on market for higher end homes has slowly risen since the summer to each 165 days last week, still far below the national average of 292 days on market for all listings in January reported by Realtor.com. New luxury listings are entering the market at a rate of about 1600 properties a week and a third, 34 percent, of all luxury homes on the market have reduced their prices.  Average prices in the luxury category have held steady through the fall, at just above one million.
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Inside Story for Luxury Real Estate Brokers
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Behind the Secret Walls of Luxury Real Estate
There is an exclusive group of luxury real estate agents that have been working together for some time, also know as the Who's Who in Luxury Real Estate. They are an international membership organization comprised of 1,000 brokerages and 75,000 sales associates in 69 countries. The average sales price of a property by this group is $2,250,000 and they sold more than $200 billion in properties last year. Trust me when I say that it is a privilege to be invited to join this group. Their website has more traffic viewing luxury listings than any other site on the planet – and they refer piles of business to each other – worldwide.
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