Luxury Listing Specialist - Dominate High End Listings In Any Market

As the new year approaches, we have to start thinking about what we can do to move our industry forward, and one of the best ways to do that is by creating a more inclusive environment.

Everyone deserves to feel welcome in real estate, and we all have a role to play in fostering greater diversity in the business. The only problem is, many of us just don’t know where to begin.

How can we make more space for people of color in our industry? What can we do to ensure everyone gets a seat at the table?

In this episode, National Associations Of Real Estate Brokers (NAREB) Western Regional Vice-President, Shanta Patton shares the steps we can take to build a more diverse real estate industry. To find out more about NAREB visit: http://www.NAREB.com

This podcast was originally recorded on Michael LaFido’s Luxury Lunch & Learn series.

"We’ve still got a long way to go, but by building up everyone in the business, we can raise the bar." -Michael LaFido

Three Things You’ll Learn In This Episode:

The importance of joining minority associations:

We don’t need to be Asian to join the Asian Real Estate Association of America (AREAA), Hispanic to join the National Association for Hispanic Real Estate Professionals (NAHREP), or Black to join NAREB. However, by becoming members of these associations, we can become allies and bring awareness to their missions.

Why we need to seek first to understand:

It’s not always easy talking about race, and that’s why we need to approach conversations about it with the intention of understanding. We don’t need first-hand experience to listen and be empathetic.

How to gain a greater understanding of the people in our business:

It can be tough relating to people with different backgrounds to our own, and that’s why it’s so important to be open to having conversations. Simply asking people about their experiences is the first step to bridging the gap.

Guest Bio:

Shanta Patton is a regional Vice President at the National Association of Real Estate Brokers (NAREB). Passionate about everything the association stands for, she also serves as the National Education Chair for NAREB. Shanta is also a Nevada Realtors Director and serves as the Diversity and Inclusion Chair. In addition to serving her community in whatever way she can, Shanta is also a Las Vegas real estate expert at ERA Brokers Consolidated.

To find out more about Shanta, visit:
https://www.nareb.com/profile/spatton/

https://www.era.com/ERA-Brokers-Consolidated-387c/Shanta-Patton-5123007a

https://www.linkedin.com/in/shantapatton

And for more about NAREB and their initiatives, go to:
https://www.nareb.com/

https://www.nareb.com/nareb8/

https://housethenthecar.com/

Other associations mentioned in this episode:
NAHREP- https://nahrep.org/

AREAA- https://areaa.org/

If you’re a business owner, team owner, or top producing agent, an exit strategy is very important. How will you know who the right buyer is? When it comes to building trust in luxury, what is one thing you can do to create value? Is it the buyers or sellers that determine the velocity of the luxury market? On this episode, serial entrepreneur and sought-after keynote speaker Sharran Srivatsaa shares great insights on these topics.

The clients are looking to be led, and our ability to structure that advice with confidence is where clients gravitate to the agent. -Sharran Srivatsaa

Takeaways + Tactics

• The job market and the stock market have been good for the average person, making them feel like they can spend more. This has driven the growth, purchases, and velocity of the market.
• The luxury market is based around the ability of a buyer to actually buy. As a result, it’s not the sellers, but the buyers that set the tone for the luxury market.
• With luxury price points, properties won’t always sell quickly. This is where your communication skills come into play, because you have to give feedback and keep the seller confident.
• If you’re considering your exit strategy think of who the buyer would be and why they would care about your business.

Resources

Become a Certified Luxury Listing Specialist

Get Your Free Gift - Luxury Listing Blueprint

At the start of the show, Sharran talked about how the 5am Club got started and what his podcast, Million Dollar Playbook is all about. Sharran also shared on the trends he’s seen in luxury and why it is so critical for agents to show their knowledge of the market and present that knowledge with confidence.

We also shared insights on:

• How to develop your exit strategy
• The connection between knowledge and confidence
• Different models of exit strategies

The most powerful thing you can do is establish credibility. Once you do that, everything you say and do afterwards becomes a lot easier. The client will trust you more and feel like their home is in good hands. At the end of the day, bragging about your track record to the client is irrelevant. It's establishing trust through your action that matters. When it comes to a good exit strategy, there are many ways to go about it. The key is knowing the value you bring to the table. From there it’s about finding the model that best suits both parties, of which there are a few to choose from. Just because our business is based on commissions and transactions, don’t forget that you’ve built years of goodwill, systems and knowledge-- and there’s a market for that.

Guest Bio

Sharran Srivatsaa is the CEO of Kingston Lane, a push-button technology execution platform for real estate. Sharran is a serial entrepreneur, sought-after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post and Forbes.

Sign up for a FREE Kingston Lane account on us, and use the tools to leverage and grow your business: www.kingstonlane.com

The LGBTQ movement has come a long way. But as the nation continues to confront discrimination of all kinds, there's still a lot of work to be done... and housing equality is no exception.

With that said, it's such an honor to have John Thorpe with us. John's been in real estate since 1999. He's also the Inaugural President of the LGBTQ+ Real Estate Alliance (The Alliance). The Alliance was founded in October and in just three months, has grown to over 500 members and over 50 chapters in the US including Puerto Rico.

The Alliance is a non-profit organization dedicated to enhancing the professional lives of its members while providing consumers with the proper resources to assist in buying, selling, and enjoying their home.

And it's not just for the LGBTQ population, it's a resource for anyone who needs advice, advocacy, education, or networking. To find out more information about The Alliance, visit https://realestatealliance.org/. There’s no cost to join.

"Educate yourself, get different perspectives. It will make you more understanding and empathetic. We're all human beings." -Michael LaFido

Three Things You'll Learn In This Episode

The data is limited:
Even though the 2020 census allowed people living in the same household to mark themselves as same-sex partners or spouses, it doesn't include sexual orientation. The average American homeownership rate is about 61%. However, the average for the LGBTQ American is only about 48%, so there's a discrepancy in the data.

The difference between the code of ethics and federal law:
Even though the real estate code of ethics states you can't discriminate on sexual orientation or gender identity... there's no federal law that mandates this. There are 27 states where there are no explicit laws that protect people from discrimination.

Educate Yourself:
Grow your knowledge. Attend diversity and inclusion trainings, support minorities in business, listen to those who are unlike you. It'll improve your career, and improve the world we live in.

Guest Bio-

John Thorpe is the Inaugural President of the LGBTQ+ Real Estate Alliance. He’s been working in real estate since 1999. For the past 7 years, he’s been with Better Homes and Gardens Real Estate as the Regional Vice President - Membership Development - Franchise Sales/Business Consulting. John lives in Fort Lauderdale, Florida with his husband of 17 years.

To find out more about John, visit The Alliance website:
Website: https://realestatealliance.org
Facebook Group: https://www.facebook.com/lgbtqrealliance
Email address: [email protected]

Do you have a luxury listing that’s been sitting on the market for a long time? In many markets, it’s tough to get foot traffic inside homes above the $1.5 million range. It’s time for luxury agents to start thinking outside of the box; fortunately, I have a method that might just be what you need. I know it sounds unusual, but I recently had a ton of success hosting a public luxury open house for a $2.25m home. NOBODY hosts public open houses in my area for homes priced above $1.5m. To learn more about how this worked out, check out my latest podcast.

Connect with me:

YouTube: @MarketingLuxuryGroup TikTok: @LuxurySpecialist Instagram: @LuxuryListingSpecialist
Have a real estate question? Be sure to join me live on Luxury Fridays! Visit www.LuxuryFridays.com for more information. Hope to see you there!

What’s the difference between a buyer's market, a balanced market, and a seller's market?

​​As a real estate agent, you need to know the difference between these three markets and explain the difference to your buyers, sellers, database, and social media.

The most straightforward answer is by looking at the months of inventory. To learn how you can determine the type of market that we have, have a listen.

Let's connect! Michael LaFido Marketing Luxury Group I Luxury Listing Specialist (888) 930-8510 | [email protected] LuxuryListingSpecialist.com

Visit JoinLuxeGroup.com to find out when the next Luxury Livestream will be. YouTube: @MarketingLuxuryGroup TikTok: @LuxurySpecialist Instagram: @LuxuryListingSpecialist