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.