Posted by: dagmarsands | April 3, 2010

Luxury Real Estate – Working with High Net Worth Individuals!

As a luxury real estate marketing professional it is essential to study what high net worth individuals look for from luxury goods and service providers. You can gain keen insights into providing superlative service and demonstrating superior marketing savvy by studying the top ranked jewelry brands in the world that specialize in exquisite gemstones.

According to the Luxury Brand Status Index of the Luxury Institute these are the top ranked jewelry brands for world class gemstones:

#1 Graff Diamonds

#2 Harry Winston

#3 Buccelati

Here is the criterion upon which the survey of high net worth consumers was based (with equal weighting for each category):

* Consistent Superior Quality
* Uniqueness and Exclusivity
* Making the Customer Feel Special Throughout the Entire Experience
* Famous Clientele (i.e., Oprah shops there)

To attract more high net worth clients, answer these survey questions and apply your answers to your own luxury real estate marketing practice:

1. How can you provide more consistent, superior quality service?
2. How can you offer an extraordinary promise of value that is truly unique and exclusive?
3. How can you make your clients feel even more special before, during and after their transactions to buy or sell property?
4. How can you let new clients know that you have worked with famous people (even local celebrities)?

What was remarkable about this survey is how closely these firms were ranked. They ranked within tenths of points of each other. It was reminiscent of recent Olympic venues when the difference between the Gold and Silver Medal was hundredths of seconds.

As a luxury real estate marketing professional, differentiating yourself from your closest competitors is absolutely essential. It is particularly challenging when you are among the top three market leaders, because your “DNA” can be so close to that of your competition. But, like multicolored carrots (the vegetable) you need to amplify that difference. Your unique selling proposition needs to be laser sharp. Graff Diamonds’ unique selling proposition is that they do not sell diamonds under one carat.

Here is a warning! It is easy to fall into the trap of out-spending your competition to achieve top-of mind brand awareness, when the answer is to out-think them. Occasionally, out-spending works to set you apart. Laurence Graff, president of Graff Diamonds recently outbid forty potential buyers for the Lesotho Promise, the biggest diamond found in thirteen years. It weighed 603 carats. His company’s slogan is we sell “the most fabulous jewels in the world”.

Ron and Alexandra Seigel are the managing partners of Napa Consultants, International the leading luxury real estate marketing firm, specializing in web design, personal branding, and company branding. Gain the competitive edge in your luxury real estate marketplace. Visit our highly acclaimed blog, the Language of Luxury. “Get Fluent. Get Affluent!” Learn more about gaining and sustaining market leadership at http://www.NapaConsultants.com

Article Source: http://EzineArticles.com/?expert=Ron_Seigel

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