Marketing Luxury Real Estate: The Difference Between Marketing and Selling
In marketing luxury real estate, many agents and brokers often fall into the trap of selling instead of marketing. Marketing is matchmaking. It requires concisely communicating the essence of your distinct promise of value to your ideal target market as you address their most pressing needs. If your communication is clear your ideal prospects should instantly recognize that you, not your competition, are the right match.
Selling is trying to convince those prospects that are not really a match to you that they should work with you or buy from you anyway. The need to sell comes from the false notion that there is a scarcity of ideal clients out there. But, the truth is that the time you waste trying to win over non-ideal clients and slogging your way through difficult transactions distracts you from opportunities to meet and work with perfect matches,
As discouragement and feelings of powerlessness set in, you begin to lower your standards and expectations. You find yourself on the “chain of pain” attracting more non-ideal clients and more problematic transactions.
What is important to keep in mind is that people like to do business with people like themselves. Your ideal client is looking for you just as much as you are looking for them. And, they hang out with others who are like-minded. It is only natural for them to refer you to their friends. It gives them personal satisfaction and also social currency to facilitate a successful referral. When this occurs you find yourself on the “chain of gain” instead of the chain of pain.
Marketing done right is effortless because you are achieving an alignment of self-interests yours and your ideal client’s. Selling may give you the immediate gratification of momentary wins, but it will burn you out in the long run.
The most successful luxury real estate agents and brokers are passionate marketing professionals not selling professionals. When you sell a home, the sale itself is the very last thing that occurs in the process of meeting the needs of your ideal clients. There is actually one more step. And, that is getting paid for doing something that you love to do.
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