SWET-ing The Competition “W”
We began a discussion last time about SWET-ing our luxury real estate competition. As a reminder,
- S stands for the strengths of your competitor.
- W is for the weaknesses of this competitor.
- E is for everything they do and
- T is a surprise I am saving for the last video in this series!
Here is the deal. Send me information on the strongest competitors you face in your luxury market, outlining their weaknesses. Where do they fall down? What could they be doing better?
Send me a list and I will send you a free Kindle download of my book “Selling Luxury Homes“. This offer expires September 17, 2012, so do it today.
- Watch the video.
- Think of your competitor.
- Think of their weaknesses.
- Send me a list.
- Get a free Kindle download of ”Selling Luxury Homes“.
What could be simpler?
In the meantime, make it a great week and we will continue our series next week with “E”.
*Note* – The free Kindle download of my book, “Selling Luxury Homes” giveaway has ended. Thank you for taking part!
5 Comments
Jack
09/11/2012Insightful, thanks Kathleen
Peter Kempf
09/12/2012Weakness of luxury agents…
1) Luxury is an over used term and it has lost its true meaning because so many mid-market agents call themselves “luxury” agents.
2) Don’t separate out their mid market listings from the true luxury listings.
3) Don’t understand the “look” of an ad or website that has implicit luxury speak. Notice the “look” of the ads done by luxury brands such as Mercedes, Tiffany, Bentley, Piaget, etc. Then compare it to Chevrolet, JC Penney, etc. There is a reason Toyota was successful in entering the luxury market by creating a whole new brand – Lexus. Notice the difference in ads for Lexus compared to Toyota .
4) Feel “entitled” to have a listing rather than privileged.
5) In today’s highly mobile world one has to be educated in many luxury markets, not just their own. Too many “luxury” agents have no idea about other markets, particularly feeder markets.
6) I could go on and on…
Ian simons
09/17/2012I’m writing my weakness entry in the reply box. Is that ok?
hi ,jack i’m just getting into real estate and am trying read as much as possible on anything and everything. I’m hoping to get as much knowledge in as i can before i decide to choose my first firm. If i had to pick a weakness that i thought was the most damaging to other agents. I would say in proper use of time management. Y only get 24 hours in a day and with what you do with that makes all the difference. Being a new agent this is especially important because i know getting your foot in the door is not an easy task at first. So if that means fist one to arrive and first one to leave the firm or even just working over the weekends in stead of going to the game. It’s a small price to pay when earning a spot in such a competitive field.
Is the Kindle download readable in pdf cause i’d like to read it on my i-pad if possible.
Paula
09/17/2012Weaknesses:
1. Arrogance;
2. Too much delegation to junior members of the team without informing clients that another agent will be handling their showing; taking them on their buyer’s tour; showing up to be there during an inspection or appraisal.
3. Carelessness in communication: failure to promptly return calls, poor spelling and grammar that reflects badly on the user; failure to update information.
4. Failure to update photographs to reflect a change in seasons, nothing says ‘stale listing’ like a picture of a snow-covered roof in July!
Mike
09/17/2012Most luxury homes in our area (luxury defined priced over $375k) the agents are very slow to provide information and they don’t return calls. It seems like they think if we don’t get the answer from them, our clients may get tired of waiting and come to them directly… it almost never works that way, but that is my perception. In the past, I have obtained a couple listings (not necessarily luxury level) where the owners have previously listed with these “luxury” agents, and follow-up and communication are the 2 things that the clients mention that they didn’t receive….