When you are passionate about what you do and you have aligned your passion with a career path that can deliver the economic benefits that you desire, opportunities seek you out.  And, you can perceive opportunities quicker than your competition.  In fact you can find the trail to opportunities in even the most mundane non-obvious places.

As passionate brand strategists in luxury real estate marketing we find the opportunity to expound upon the principles of branding everywhere we look.  Here is an example of the value of achieving top of mind status.  Recently, we had a minor overnight invasion of ants that attacked the cat food.  We were fortunate to nip this problem in the bud.  But, we decided to take preventative measures for potential midnight raids.  We sought out ant bait/traps.  Two brands were prominently displayed: Combat and Raid.  Both boxes were the same price.  We assumed they were equally efficient. 

Raid is the brand that comes to mind first for us and Combat is not even on our radar screen. Combat had 6 traps in the box and Raid had four.  Raid, obviously commanded a 50% premium based on their brand recognition.  In a time starved world the majority of people would select to brand that comes to mind first, underlines the value of brand recognition.  There is no inherent value of the actual ingredients of the product.  Trust in the brand is the added value.

We selected Combat overriding our natural proclivity to the brand that came to mind first.  This is a mega trend in luxury marketing today: luxury brands cannot get away with a 50% plus premium on their name alone, they have to demonstrate actual value.

Sellers and buyers are getting smarter when it comes to luxury real estate.  One of the interesting outcomes of the global economic upheaval, luxury real estate consumers are looking for intrinsic value and are unwilling to pay a premium for a home or any other goods, if the intrinsic added value is non-existent.  As a luxury real estate marketing profession, it is now imperative to define your added value and it better be substantive, so that you can achieve top of mind status.   Does your brand command a premium?

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14 Comments on Luxury Real Estate Marketing Tip: Does Your Brand Command a Premium?

AUG
16
516,403 Points Outside Blog Called Shot Master

Branding is very important.  We want the consumer in our area to pick us and our company.
8:43am • #1
1,188,337 Points 31 Featured Posts Outside Blog Called Shot Master

Another excellent article Alexandra, we had to suggest it because you are right on target. Glad you have your ants under control and saved money.
9:38am • #2
584,963 Points 46 Featured Posts Outside Blog Called Shot Master

Excellent post Ron and Alexandra!  Suggested.

 
10:14am • #3
926,238 Points 13 Featured Posts Called Shot Master

Dear Elite,

Thanks for your comment, Brands rule.

Al & Peggy,

Thanks for the suggest.  What is funny is that the Combat worked instantly...no ants even  showed up.  Just keeping  the ant motels out for another week to make sure they don't show up again...

John,

As always, I so appreciate your comments and your suggests on our behalf.  Wishing you and Debbie a delightful Thursday, and I am longing for one of her biscuits.  A
10:34am • #4
1,442,050 Points 26 Featured Posts Outside Blog Called Shot Master

Good reminder that a premium brand will justify a premium price.  Too few real estate professionals follow this path of thought.


Enjoy the days of summer with your camera in hand.
10:35am • #5
325,963 Points 12 Featured Posts Called Shot Master

Alexandra & Ron, when it comes to branding and intrinsic value, your antennae is up and transmitting.  Consumers are smarter and savvier than given credit by many Realtors.  They are highly attuned to intrinsic value.  

*Suggested*  Brian
10:54am • #6
1,098,437 Points 25 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hi Ron and Alexandra, you always write great posts on branding....suggested this one also.
5:03pm • #7
AUG
17
1,110,520 Points 72 Featured Posts

Ron/Alexandra, Sellers and buyers are getting smarter when it comes to luxury real estate. Looks like you found the premium VALUE!
4:11am • #8
896,601 Points 34 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Buyers and sellers need to do their homework and find the luxury agent that will fulfill their needs. I'm kind of like you, I tend to not buy the leading brand :) but the one with the most to offer.
5:21am • #9
896,601 Points 34 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Love the ants! And, congrats on hitting 700K
5:21am • #10
161,568 Points 16 Featured Posts Outside Blog Called Shot Master

Ron & Alexandra ~ I enjoy reading your posts because of the insight you share about branding & luxury. Most important take away for me ~ am I offering more vaule than other agents in my area?
4:43pm • #11
230,120 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Alexandra and Ron-

It is always a struggle to show Buyers and Sellers how hard we work to meet their needs. So much of the Broker's value is best recognized after we have closed the transaction and the Buyer and Seller hear about the difficulties experienced with other Brokerages.

We are still working hard to bring luxury service to all of our clients  - across the price range.

--Sara in San Antonio
10:40pm • #12
AUG
18
777,285 Points 97 Featured Posts Outside Blog Called Shot Master

Suggested.

I like the fact that the name alone is not enough, you have to demolimstate value. So true Ron and Alexandra.
12:19am • #13
AUG
19
926,238 Points 13 Featured Posts Called Shot Master

Roy,

This is a very astute observation on your part, we appreciate your comments and your wisdom.

Brian,

We truly appreciate your keen observation and your quip about our antennae on the lookout and transmitting.  It is truly our passion.  I agree that the consummers is better informed than they ever have been and they are given very little credit for being in the know.  Thank you so much for your suggest.

Rebecca,

Thank you for your kind words, and we appreciate your suggesting this post.

Larry and Sheila,

We certainly did find the premium value.  We are always open to new brands and new leaders who are looking to create a better product.

Toni,

We are on the same wave length on that subject.  We are looking for real value these days and not the hype value, which still gives comfort to many.  And thank you for the congrats on the 700,000 mark.

Krystal,

Thank you for your insight, you do not need to be a luxury agent to offer more value, and the value that the majority of humans respond to is respect and kindness, in my humble opinion.

Steve and Sara,

I am sure that with your dedicaton and your commitment you are succeding in offering value.  Exceptional service is from the minutae to the big stuff, and it may be true that they will realize it when they hear war stories from other people.  However when you have a great service mind set, it shows and it gets referrals.

Tom,

Thank you for the suggest, and thank you for supporting our premise.  Wishing you continued success.  A
10:09pm • #14


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Ron & Alexandra Seigel (Luxury Real Estate Marketing)

Carpinteria, CA

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ra@napaconsultants.com

Office Phone: (805) 684-8180

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