Are You “In The Know” When It Comes To Luxury? Can You Speak Goat?

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Services for Real Estate Pros with Napa Consultants

We recently were asked by a friend to recommend an agent. They wanted to make sure that we would recommend someone who can relate to a luxury buyer whose budget is $8 million dollars. Our friend specifically wanted an agent “in the know” when it comes to all things luxury.

 

There is so much that can be gleaned by luxury real estate marketing professionals in studying the finest products and services that money can buy. The more you know, the more you will have in common with your target market, the wealth of the world.

 

The more you have in common the faster potential clients or referral sources trust and recommend you. Being known as a luxury real estate professional who is “in the know” is one way to distinguish your personal brand of doing business.

 

Cashmere is a fabric that is associated with luxury. Although many assume that cashmere in a winter fabric, it can also be worn in the summer when woven with silk.

 

The finest cashmere wool in the world comes from the far regions of Mongolia and the Himalaya Mountains. Another type of prized cashmere is baby cashmere. Baby cashmere wool comes from a special breed of goat,(Himalayan Tahr Goats, pictured above). The softest fibers are gathered by combing the kid goats.

To fully appreciate luxury, look at the variance in pricing if you were to purchase a kid cashmere shawl from a local merchant close to the source of the fiber. To get to the Himalayas, where these prized goats are raised would take several days using primitive transportation modes-ox led carts, and the final leg of the journey would be made by walking for several hours. The shawl would seem to be a bargain, if you discount the price and the time it takes to make the trek.

 

A similar shawl at a Loro Piana boutique, (Loro Piana is an Italian clothing company that specializes in high-end luxury cashmere and wool products) in New York, Beverly Hills or Milan, Italy, would be priced considerably higher. The price would reflect the journey and the exquisite craftsmanship.

 

Not all luxury buyers appreciate cashmere. However, many appreciate the finest in products and experiences.   One gentleman we spoke to mentioned the "ABC’s" of luxuries: A for airplanes, B for boats, and C for cars. If you aspire to sell to those in the luxury arena, educate yourself to be “in the know”, on many subjects including being able to speak goat.

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Written by Ron & Alexandra Seigel-

ABOUT:  Napa Consultants, International specializes in the art of local niche marketing in affluent communities and they are the leader in brand strategy for the luxury real estate industry.  Working exclusively with entrepreneurs and professionals who are passionate about gaining or sustaining market leadership, they help their clients become the breakaway brand in their marketplace.

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THE LANGUAGE OF LUXURY
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Rainmaker
288,582
John Wiley
Jones & Co. Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Ron and Alexandra Seigel what an interesting title. Luxury and goats??

You wrote another hit. No matter what market you are in it is so important to know what the people in the market want to know.

I SW Florida it is water and boats. And there is a lot to learn about them.

Thanks

May 22, 2017 10:18 AM #1
Rainmaker
1,893,731
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

OK, so I couldn't get past the part about someone having a budget of $8 million.

LOL

May 22, 2017 10:22 AM #2
Rainmaker
3,428,559
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

John Wiley the gentleman I was speaking to was in Florida, and had just had a new yacht built for him.  On that same occasion, we toured a yacht that was priced at 22 million.  I asked the wife what she thought of the yacht, and she proceeded to give me a laundry list of what was wrong with it.  The only part she liked was the engine room...A

May 22, 2017 10:26 AM #3
Rainmaker
3,428,559
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Sharon Tara I understand what you mean.  Many cannot relate to someone wanting to buy a home for $8million, that is why it takes someone who is well-versed on the subject.  One of our clients has a $108 million dollar listing.  A

May 22, 2017 10:27 AM #4
Rainmaker
1,312,566
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

You are so right Ron and Alexandra Seigel, it would be beneficial to luxury home buyers and sellers to work with agents who know all things luxury as they can relate. 

May 22, 2017 10:44 AM #5
Ambassador
1,584,172
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Some also call it Ron and Alexandra Seigel  Cash Mere -- I do agree There are agents who specialize in certain fields

May 22, 2017 11:09 AM #6
Ambassador
2,558,339
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Ron & Alexandra - Our success depends to a significant degree on how well we can connect with our clients. As someone once said, if our target is the luxury market, we need to be fluent in the Language of Luxury : )

May 22, 2017 12:38 PM #7
Rainmaker
3,204,856
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Ron and Alexandra Seigel ,

Love your post and I so agree with Dick Greenberg "Our success depends to a significant degree on how well we can connect with our clients." You are the ones who have it down when it comes to Language of Luxury! You're right you might need to educate your self and be well versed and yes maybe even learn to speak goat!! LOL!

May 22, 2017 05:20 PM #8
Rainmaker
3,428,559
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Dorie Dillard Thank you for your kind and thoughtful comments.  Regardless of what sector of real estate one serves, the more you know about those you work for or with, the more you can related and be a success.  But it takes work and dedication.  A

May 22, 2017 08:38 PM #9
Rainmaker
2,486,762
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Alexandra loved your post, interestingly there are some people who are actually down to earth in the ultra luxury market, I have had the privilege of working with quiet a few Billionaires and Multimillionaires as we walked up the hill on my vacant lots and ironically they were just like any of the "plebeian" same concerns, what the view would be like, what the time it would take to built and the list goes on and on... the only thing different was the price points:))Endre

May 22, 2017 11:13 PM #10
Rainmaker
2,243,654
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning A.  I looked and looked again.  Sad to say I did not notice this as a feature.  They missed the boat.

May 23, 2017 01:28 AM #11
Rainmaker
4,276,059
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I have worked with many weathy people but have never sold an eight million dollar home.

May 23, 2017 04:06 AM #12
Rainmaker
2,739,705
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Ron and Alexandra. Speaking Goat is a wonderful example of your focus.

May 23, 2017 05:52 AM #13
Rainmaker
2,663,717
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

We were working with an 8-12 million dollar client recently. We showed them areas that they chose and were high on their must-see list. As we drove through some neighborhoods, they wouldn't even get out of the car when they noticed non-luxury cars in the driveways. Yes, know your clients well!

May 23, 2017 06:29 AM #14
Rainmaker
2,779,919
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Alexandra and Ron -- knowing how to appropriately connect with clients underscores the richness of knowledge and effective communication.  

May 23, 2017 06:47 AM #15
Rainmaker
1,732,027
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I doubt that I will ever be able to speak goat, but then again, I don't think I want to, haha.  I am quite content with a simple life.

May 23, 2017 07:04 AM #16
Rainmaker
437,566
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

There are chalenges to a luxury niche.  Right now there is a 22-month supply of million-dollar-plus houses in my MLS, vs a 2-month supply under $350K.   The high end has few clients looking, and even fewer sales.    No doubt, the odds are better in California! 

May 23, 2017 07:19 AM #17
Ambassador
1,401,109
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi there again, you are so right. And, within the luxury niche, so many varities of goat to speak. ( As you two well know, our luxury has less to do with price, and more to do with the feelings our properties evoke due to their connection to nature. ) I'm really enjoying reading all of the follow-up comments on this post too. You always inspired thought. 

May 24, 2017 08:06 AM #18
Rainmaker
175,049
Cheryl Dukes . . . . . Intown Atlanta
Solid Source Realty, Inc. - Atlanta, GA

There's luxury and then there's ultra luxury. I think most people with newfound luxury are the ones who want to speak goat. After they've been there and done that awhile, they're just fine with chickens and cows (but I don't walk in those circles and I guess this is why).

Jun 21, 2017 09:58 AM #19
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