Trophy Listings: Gold Stars Or Gold In The Bank?

Reblogger
Real Estate Agent with Resort and Second-Home Specialist REALTOR Broker #21673

Some listing may help your prestige but hurt your pocketbook. Here is some sage advice from Ron and Alexandra Seigel about taking those high profile, high ticket listings.

Original content by Ron and Alexandra Seigel DRE00893924

Do you look at other luxury real estate marketing professionals who list “trophy” homes with envy? Or, do you believe that you create your own luck?

 

Many luxury real estate agents make the mistake of chasing after “trophy” listings.  These are the high profile homes that are architecturally significant, belong to a celebrity, or simply are the highest priced homes in the marketplace.

 

Sure, having these listings can shift the perception favorably about you in the minds of your target market and help you attract more of the same.  While these listings may bring you publicity, they may also come with a high cost, a high marketing cost, that is!

 

Owners of trophy listings often expect you to spend lavishly in terms of print ads, video production and other promotional activities.  It is rare that the trophy home seller is realistic about the true market price of the home. Once you have gotten your big burst of publicity and notoriety as the listing agent the price of fame can mount quickly as these trophy homes languish on the market.

 

Instead of being envious of those agents who list unrealistically priced trophy homes focus on acquiring more luxury listings that you can price to sell in the shortest time frame.  This will build a momentum of sales and a strong track record for you, and gold in your bank account.

 

 

Stop reaching just for gold stars so you can be the envy of your competitors. Start creating the luck of attracting trophy listings owned by sellers who are realistic about pricing.

 

So, What Will You Choose, Gold Stars or Gold in the Bank?

 

Written by Ron & Alexandra Seigel-

 

ABOUT:  Napa Consultants, International is the leader in brand strategy for the luxury real estate industry.  They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.

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Please call or email me if you are considering selling or buying a property on Kauai. I work with a sales team that are experts at helping you make the right move!

 

Kathleen Luiten, REALTOR Broker                                                                         

808-346-3081

CENTURY 21 All Islands

 

Email: kathleen.luiten@hawaiimoves.com                                                                       

www.kathleenluiten.hawaiimoves.com  

Don't just dream, call Kathleen!

 

Comments (7)

IRMA Beltran
Century 21 M & M and Associates-Turlock homes Real Estate - Turlock, CA
Your Real Estate Agent 4 Life Always there 4 You!

Great blog and very true, thank you for sharing.

Have A Wonderful Blessed Day!!!

Sep 04, 2015 05:12 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathleen,

Thanks for the reblog, we appreciate it.  I like your new photo.  A

Sep 04, 2015 05:33 AM
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

i pray for the batting average for agents. avg days on market compared to the community.. avg % of price listed... etc etc . that will tell the story

Sep 04, 2015 08:25 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I have a rule, I only take listings I think I can sell at the price the owners are willing to list at. If they are out of line I do not waste time even on Trophy listings.

Sep 05, 2015 01:26 AM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Thanks for commenting, IRMA Beltran. Re-blog the posts we find valuable helps more of us see them.

Glad you like my photo, Ron and Alexandra Seigel. Not my best but I have had any good ones taken in years. Time to get some professional shots done...

   

Sep 06, 2015 06:07 AM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

MIKE ROCK that's the strategy many of our best producers use.

Jeffrey DiMuria 321.223.6253 www.SpaceCoastHomesNow.com I follow much the same practice. If the price is a little higher than I recommend I'll go for it but only with the agreement that we have regular adjustments if we haven't received acceptable offers.

Sep 06, 2015 06:10 AM
Mike Rock

do you have an example of their presentation in regards to this?

Sep 06, 2015 06:16 AM
Kathleen Luiten

I do a verbal listing presentation, usually with PowerPoint, that includes recommended pricing and rationale. If they're fixed on a little higher price I have a standard agreement that includes initialing a paragraph agreeing to price reductions if there are no reasonable offers offer within X weeks. The period varies depending on the property and market. 

Sep 06, 2015 07:17 AM
IRMA Beltran
Century 21 M & M and Associates-Turlock homes Real Estate - Turlock, CA
Your Real Estate Agent 4 Life Always there 4 You!

Okay,  Kathleen I didn't know that.  Thank you for the advice.  Like I say, Learn something new everday.

Have A Wonderful Blessed Day!!!

Sep 06, 2015 02:18 PM