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5 ways to win at luxury real estate marketing

By May 25, 2018 No Comments
5 ways to win at luxury real estate marketing
REPOSTED DIRECTLY FROM INMAN NEWS. THIS CONTENT HAS NOT BEEN MODERATED BY WFG NATIONAL TITLE.

In this edition of “Let’s talk marketing,” Melinda Goodwin discusses luxury real estate marketing with real estate strategist, professional speaker and owner of Woodman Consulting Group, Aaron Woodman.

Aaron Woodman has sold over $200 million in real estate and oversaw a portfolio of 1,600 multi-family units, and he was senior vice president at a top-50 real estate company with 900 agents.

He also has consulting experience with Sales Inc., a leading national leasing company. Woodman has consulted for many major real estate brands, including Exit Realty, Berkshire Hathaway, Keller Williams and more. He has also worked with Deutsche Bank, top-tier hedge funds and private family funds.

Below, you’ll find Woodman’s top five tips on networking in the luxury market.

1. Be accountable

When I first connected with Woodman on social media, I was immediately invited to join his accountability group. “I started the group not only to help other agents be accountable, but to also to be accountable myself,” Woodman says.

I wanted to join as I was just getting started with creating these video interviews, and I needed a group of experts with whom to connect and share ideas.

I have not regretted it!

The best thing about having an accountability partner or group is that the relationship is mutually beneficial. I think many real estate agents find accountability groups or partners to be a waste of time. They forget having a “coach” or “partner” that wants them to succeed and expand is vital to any industry.

Cheerleaders are absolutely necessary, and meeting with them on a consistent basis is of upmost importance. Consistency is the key to success in anything we’re determined to accomplish.

2. Connect x 100

You should connect with 100 people every day. We all know many real estate sales come from our sphere of influence (SOI), so focus on building relationships and making your sphere larger and stronger. Network to create new relationships, but always keep nurturing the ones you’ve already established.

Woodman uses the first two hours of his day to connect and network. He connects with 10 people on Facebook, 10 on LinkedIn, 10 on Instagram, 10 on Twitter and 10 via email every day. And that doesn’t even include connecting face-to-face with 100 people per day.

To avoid coming off too “salesy” when messaging new people on social media, Woodman suggests writing something like:

Hey (insert name), I just wanted to connect with you. I see that you are in the _____ industry. I am trying to build my network and find good people in your industry.

“You don’t expect to go on a date with someone and expect them to stick their tongue down your throat in the first two seconds, so as Realtors we should not be doing that either,” Woodman says.

People you connect with will peruse your profile, realize you’re a Realtor and perhaps take interest in starting an honest and open connection with you.

3. Update your profiles

Woodman travels and meets new people all over the nation — it’s his goal to connect with other agents. But in his attempt to search and connect with others, he’s found that most agents don’t update their information. Nonworking phone numbers, old addresses and outdated profile photos should be replaced regularly.

Maintaining our social media presence can be tedious, but we must keep up with it because it’s where most people are looking. Think about it as your personal brand. Woodman suggests updating all profiles every January with a new picture and fresh information.

4. Make a detailed checklist (no matter what the listing price is)

I loved this statement, and I am a huge advocate for treating each listing exactly the same whether it’s an RV lot or a multi-million-dollar listing.

Prepare a detailed checklist for your review once you get the listing. Your checklist should not only include placing a sign, preparing flyers, taking professional pictures and shooting a video, but it should also include a detailed marketing plan based on who your buyers are and where they come from.

“Never go live on the MLS until your checklist is complete,” Woodman says. Connect with Woodman on his website for a copy of the checklist he uses.

5. Use your network when marketing your listings

This is something I think we forget to do (or weren’t taught), but using your network is arguably the most important part of your marketing plan.

You have to know who your buyer is, where your buyer is coming from and how to connect your listing with the agents who might have that buyer. Woodman calls this form of marketing, “The Whisper Campaign.”

Agents should be calling (not emailing) other agents; they should be showing their listings to other agents; they should be marketing their listings to other agents before those listings even go live on the MLS.

I think the world of real estate sales is changing, and we need to step up our game and take ownership of our own brand, network and success.

Thank you Aaron Woodman for your friendship, accountability and willingness to share you knowledge.

Melinda Goodwin is a Luxury Real Estate Advisor with The Real Estate Collective, Utah. Follow her on Twitter or Facebook.

The views and opinions of authors expressed in this publication do not necessarily state or reflect those of WFG National Title, its affiliated companies, or their respective management or personnel.

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