I recently interviewed Donna Lee Laue of UniqueGlobalEstates.com. Donna's company aggregates and posts lisings over $1,000,000. (Think of this as a free MLS for million dollar properties). Listen to her interview. Here's one of the most important tidbits to take from her interview:
I make introductions-I don't do referrals
Donna Lee Laue has a long, successful history working with ultra high end sellers and buyers. UGE is a free listing service for properties priced at $1,000,000 or more. They currently have over 50,000 listings in 41 different countries. Donna shared one of her major secrets in terms of courting the luxury market: "I make introductions. I don't make referrals. I like to think of our company as the Match.com for the top five percent of the wealth of the world. When I introduce an agent to one of our buyers or sellers, we have a relationship. I know the intent, financial capacity, and the needs of the clients. We want to introduce the wealth of the world to their new best friend."
Prior to founding UGE, Donna was extremely effective as an estates agent due to the high level of customer service that she provided. For example, many ultra high end buyers do not want their property marketed on the MLS preferring to sell their property through "private channels." When Donna obtained a listing on a property in Redmond with breathtaking grounds, see took extensive photos of the grounds. Since her clients wanted their privacy, the only interior shot she took was of the great room. She then worked with her contacts to have the listing posted on the Microsoft Intranet where she obtained the buyer. Donna's contacts allowed her to introduce the property where the greatest numbers of high probability buyers were working.
There are several important lessons from this example. First, "making introductions" is much more attractive to clients than being "referred out." Second, Donna identified the strengths of the property and carefully targeted her marketing efforts. She did not take the listing and hope that somehow the correct buyer would come based upon a newspaper ad or some other type of passive marketing. Agents at all levels need to proactive in finding buyers for their listings. Creating an ideal buyer profile and marketing to that profile is much more effective than using a shotgun approach to marketing.
Posted by Bernice Ross
RealEstateCoach.com