Move Up to Luxury

Kay Evans

Kay Evans

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Southeast and North Florida Regional Co-Owner KWU Master Faculty

“You are who you attract.”

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- John Maxwell

To move up to luxury

remember …

Luxury Housing SalesRequire:

• Creation of “Experiences”

• International Exposure

• Market Knowledge

• Service Relationships

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“Affluent consumers typically have a very strong self-image, and they maintain their favorable self-image by accepting experiences that promote their self-image and by rejecting experiences that tarnish it.”

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- The Affluent Consumer

Why?

Experiences• Upscale Collateral Material

• Marketing Diversification

• Virtual Tours / Videos

• Professional Script Writing

• Professional Websites

• The Kink Team – Maggee Miggins

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Experiences• International Reach – KWRI Luxury and KW

Worldwide

• White Glove Service

• Professional Staging / Photographer

• Detailed Market Information

• Networking Relationships

• International Info – GPS – CIPS

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Great Marketing Resource

Top 5 Sources of International Buyers

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(In Billions)

Source:

NAR Report

Through 3/15

28.5

11.2

China

Canada

India

7.9 4.9

Mexico

UK

3.8

International Market• #1 State with International Buyers

• International Buyers Cluster

• Asia – California (Dallas development)

• Mexico – Southwest

• Europe – Northeast

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If at First You Don’t Offend …

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Luxury Market Knowledge

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Luxury Defined Locally

• Top 20% of the listing market

Or

• Top 10% of actual sales calculated by price

Source: Jack Cotton, Selling Luxury Homes

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“High net-worth people like to deal with people they know or are known by someone they know.”

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- Jack Cotton

Who Do You Know?What’s Your Plan?

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Who Are Luxury Clients?

• Corporate/Business Executives

• Physicians

• Lawyers

• Financial Professionals

• Entertainers/Entertainment Executives

• Professional Athletes

• Business Owners – Entrepreneurs

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Target

To Find Them …Go Where They Are!

• Charity events

• Health clubs, golf and tennis clubs

• Concerts, auctions, lectures

• Wine tastings, art galleries, fashion shows

• Clubs and organizations

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What Do Buyers Desire

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LOCATION

LIFESTYLE

VIEW CONDITION PRICE AMENITIES

YOUNGER

Buyers

Source: Internet Article Luxury Trends Coldwell Banker Previews

Commitment

to Confidentiality

Established

Marketing

Relationships

Customized

Everything

Market and

Pricing

Expertise

Expectations

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What Skills Do You Need?

• Negotiating

• Writing

• Presentation

• Pricing

• Creative Thinking

• Marketing

• Customer Service

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“Buzz” Wordsin the World of Luxury Homes

and Affluent Clients

“Breathtaking views, prestigious address, affluence,

ultimate architectural design, high end details,

dazzling effects, elegant entry, celebrated classic,

tasteful and masterfully crafted interior”

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The Wealthy Are …

1. Driven by their own self-image

2. Typically strong negotiators

3. Focused on their specific needs

4. Inquisitive about facts

5. Typically Internet-savvy

6. Into relationship marketing

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How Do They Think?

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Mindset Gap

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Yours: “I don’t operate in those circles.”

Theirs: “I deal only with professionals.”

The Affluent … How They Think!• Long-term thinkers

• Talk about ideas

• Embrace change

• Take calculated risks

• Continue learning and growing

• Work for profits

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What to Do?

• Constantly focus on:

• Establishing networking, service, and marketing

relationships

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Yourself

Your Market Center

Your Marketing Program

Assess

Ask Yourself• What is your edge?

• What are your credentials?

• Do you have a group connection?

• What is your competition doing?

• Is it worth the investment to you?

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Get a Coach!

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Meet Tom and Peggy

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Move Up to LuxuryIn closing

• Help the Toms / recruit more Peggys.

• Assess yourself and the Market Center.

• Take action:

• Educate yourself on the wealthy

• Learn to think like they think

• Go where they are

• Take advantage of KW tools

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Questions?

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