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.
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.