luxury properties

Welcome to the London Property Podcast, your go-to source for navigating the complex and ever-changing London real estate market. In our latest episode, host Farnaz Fazaipour speaks with Angelo Savioli from Summers Global Team about the trend of high-net-worth individuals relocating to Italy and its impact on the property market.  Angelo Savio Lee, where we explore the procedures for foreigners buying property in Italy, including tax considerations and residency requirements. Savioli provides valuable insights into Italy's appeal to UK buyers, driven by factors like favourable taxation and lifestyle amenities. While major cities like Milan and Rome witness increased demand, the real estate market remains diverse, with opportunities in luxury properties, rentals, and investments in vineyards and hospitality.

The episode underscores the importance of personalized recommendations and expert connections in navigating real estate decisions. For those seeking guidance in the London property market or considering investments in Italy, the podcast provides a wealth of resources and expert insights. Email us ask@londonproperty.co.uk

Interviewer - Farnaz Fazaipour | Property Investment & Ownership

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Maximise your property wealth with London Property. We help you make informed decision and connect you with need to know experts at every stage of your property journey.

Discover a wealth of noteworthy real estate conferences and events worth attending, such as NAR, Inman, and luxury-specific events. The hosts passionately emphasize the value of networking and gaining invaluable educational insights. Experience the excitement of attending prominent trade shows and specialized conferences like Leaders in Luxury and the Luxury Portfolio Conference.

However, effective networking goes beyond the mere exchange of business cards. Explore the art of speed networking and the significance of personalized marketing materials in leaving a lasting impression on potential clients. Learn how to spotlight your expertise and target feeder markets to make a lasting impact.

Yet, amidst all the professional growth, networking events and conferences also offer an opportunity for enjoyment, learning, and personal connections. Tami and Jack share their personal experiences of making essential connections during breaks and casual settings, underscoring the need for conference organizers to provide ample time for organic networking and meaningful relationship-building.

So, don't overlook the multitude of advantages that come with attending conferences and cultivating connections in the real estate industry. These connections can undoubtedly propel agents toward remarkable success in their careers. Tune in now and unlock the secrets to flourishing in the luxury real estate market!

To jump to a specific topic, navigate to one of the following timestamps:

- [00:51] Networking Outside of the Market

- [02:51] Locations of Conferences

- [06:01] The Best Kind of Conferences

- [10:35] Best Practices for Attending Networking

- [17:49] Luxury Branding and Farming Other Realtors

- [20:24] Maximizing Networking Event Locations

- [22:24] Tami’s Favorite Conference

Topics You’ll Uncover During this Episode:

• How to 'qualify' a conference to determine if it's worth attending;
• Why you should choose conferences and events based on the location;
• How targeting feeder markets boosts your practice;
• If you should go to luxury-specific conferences;
• Why follow-up is the most important part of your success in conference networking;

Resources Mentioned Within Episode:

• The Institute for Luxury Home Marketing
• Leaders in Luxury 
• Real Estate Star Power
• Inman Luxury Connect
• CRS Sell-a-bration

MAIN IDEA #1: All About Inspections

• Radon Inspections
• 4-Point Inspections
• Termite Inspections
• Specialized Inspections
• Soil and Perc Site Tests
• Fireplace Testing and Maintenance
• Water and Irrigation
• Wine Storage
• Whole Home Automation

MAIN IDEA #2: Best Marketing Materials

• Digital Media
• Shift to TikTok and other video platforms

Topics Covered and Questions You’ll Uncover During this Episode:

• Home inspections & common types
• Radon inspections & concerns
• Varying inspections by region
• Trend of waiving inspections
• Material leaching concerns
• Pre-inspections & loss history reports
• Importance of getting good records from the seller and identifying prior damage
• Specialist inspections on luxury features and environmental issues 
• Verification of permits & paperwork
• Educating clients through video content
• Benefits of investing in thorough inspections

Resources Mentioned Within Episode:

• The Institute for Luxury Home Marketing

MAIN IDEA #1: Break into the Luxury Market

• Strategies
• Mentoring experience
• Networking and referrals
• Creating a brand and persona

MAIN IDEA #2: Style and Inspiration

• Best publications
• Importance of construction and interior design

Topics and Questions You’ll Uncover During this Episode:

• What are some strategies you can do to break into the real estate industry?
• How important is mentoring experience?
• How can agents learn more about interior and exterior design?
• How can you network and get referrals from your communities?
• How do you create a luxury brand and persona?

Resources Mentioned within Episode:

• The Institute for Luxury Home Marketing

(0:00:00) - Brandy Dillon's Real Estate Story

(0:07:25) - Business Management and Community Involvement

(0:11:22) - Community Impact and Team Building Strategies

(0:18:01) - Real Estate Company Culture Building

(0:27:56) - Luxury Real Estate in Decreased Volume

(0:33:07) - Real Estate Market Trends and Advice

(0:42:53) - Luxury Realtor Selection

(0:51:26) - Life, Love, and Hustle Promotion

The Agency Frederick website

The Agency Frederick Instagram

Topics and Questions You’ll Uncover During this Episode:

• How can you correctly price the unique features of a luxury home? 
• What features do luxury buyers want the most?
• What challenges can make pricing a luxury home complicated?
• What are some of the most outrageous amenities only found in a luxury home?

Resources Mentioned within Episode:

• The Institute for Luxury Home Marketing

Emerging Design Trends and the Changing Priorities of Affluent Homeowners:

Over the last few years, a stark minimalism characterized by bland color schemes seemed to dominate design trends throughout real estate. A lot of these design choices seemed to correlate with the pandemic and a more sterile approach to living. In 2023 though, that’s all about to change.

According to this year’s most popular design trends, warmer color palettes and textures are taking over. Accent walls are growing increasingly popular, especially those that incorporate patterns via high-end wallpaper. Also making its rounds in the luxury residential market? Luxury vinyl flooring that’s durable enough to stand up to high foot traffic and wear and tear.

Bringing inside elements outside is another trend that’s growing in popularity. With many homeowners wanting a more seamless transition from indoors to out, and ample natural light sources becoming increasingly important, biophilic design is becoming a more popular option. In 2023, design trends are set to be a lot more colorful, have much more personality, and focus on bridging the gap between the home’s interior and exterior living spaces.

Topics Discussed During this Episode:

• How design trends are shifting in a post-pandemic world
• Why color is being utilized in a much bolder way
• The return of textured wallpaper
• Where vinyl flooring is being incorporated in a luxury home
• How architecture and design are adapting to the most recent trends

Resources Mentioned During this Episode:

• REAL Marketing
• The Institute for Luxury Home Marketing

Why is Qualifying Buyers So Important?

When it comes to negotiating sales in luxury real estate, one of the more important steps is ensuring that the buyer has the funds necessary to complete the transaction. While many real estate professionals feel bringing up the topic of assets is a bit taboo, it’s actually incredibly important to properly qualify buyers in order to protect all parties involved. If you haven’t added it to your process already, asking for proof of funds should be standard practice when negotiating a sale.

Topics Discussed During this Episode:

• When it’s appropriate to ask for verification of funds
• How not to cross the line with buyers and turn the situation uncomfortable
• Why setting expectations with your clients is so important for a smooth transaction
• Some useful resources that can help luxury real estate professionals pre-qualify buyers

Resources Mentioned During this Episode:

• REAL Marketing
• The Institute for Luxury Home Marketing

The State of the Luxury Real Estate Market Heading into 2023:

Understanding the current state of the luxury market is absolutely key for being able to effectively work within that market. Taking things a step further, being able to convey what those changes mean and how they impact luxury buyers and sellers is truly what will set you apart as a real estate professional. Communication, therefore, is a critical component that should always be given attention.

Generally speaking, by focusing on opportunities currently presenting themselves, rather than fixating on the market changes themselves, you set yourself up for success. Being able to pivot is an invaluable skill set, and knowing when to pivot will help you establish yourself as the go-to luxury real estate professional in your respective market.

Topics Discussed During this Episode:

• Maneuvering through mixed media messaging that’s often incomplete
• How buyers in the luxury residential market approach transactions
• Why a positive mindset is so important for growing your referral network
• The importance of being subtle, yet engaging on social media
• Why it’s so important to encourage luxury sellers to jump into the market

Resources Mentioned During this Episode:

• Official Website - Parks Real Estate
• Official Website - Jack Miller
• REAL Marketing
• The Institute for Luxury Home Marketing

Always Take Advantage of the Resources Around You:

To help you advance your career in luxury real estate, it’s imperative that you never stop learning and adapting to market conditions. When it comes to business planning and marketing strategy, particularly in an industry like real estate where market conditions are always shifting, being able to quickly pivot is the key to continued success. Recognizing that change is a good thing is important, particularly for luxury real estate professionals.

One thing that most successful luxury real estate professionals have in common? Planning and goal setting. Coming up with smart, measurable, achievable goals is the first step in fully utilizing the resources around you. If you employ backwards planning principles, and start with your goals and work your way backwards in order to determine the most effective way to reach those goals, then you can more easily determine the resources that you’re going to need in order to get where you need to be. Whether that involves specific professional development and training, attending in-person events both in and outside of your target market, or simply listening to podcasts or reading books, utilizing the resources around you to help you achieve your goals is the best way to stay on track and make advancements in your real estate career.

Topics and Questions You’ll Uncover During this Episode:

• Adapting to changes in your real estate market
• The importance of planning and goal setting as a real estate professional
• How often you should reassess business and marketing plans
• Why is attending industry events outside of your target market important?
• The importance of utilizing the resources around you

Resources Mentioned within Episode:

• Official Website - Jamie Huggins
• Connect with Jamie Huggins on LinkedIn
• Start with Why: How Great Leaders Inspire Everyone to Take Action
• REAL Marketing
• The Institute for Luxury Home Marketing

The Art of Storytelling in Luxury Real Estate:

As price points increase and properties become more unique, the marketing process becomes more sophisticated and typically requires a higher degree of skill and more thorough planning. One of the overarching skills involved at this level centers around the concept of storytelling.

Before you even begin to craft your property’s story, you need to make sure that the property is prepared for potential buyers. This involves hiring the right staging team to help declutter, rearrange, and transform the space to ensure the best presentation possible. Remember, spending additional resources to make sure the property is ready to go to market will not only allow you to more clearly begin formulating your marketing strategy, but will also fix problems that could potentially hold the sale up down the line.

Once the property is ready for buyers, the next (and most critical) step is crafting the story behind the property. To do this, you need to first identify your ideal buyer. Next, you need to determine the specific features of the property that will speak more directly to that ideal buyer, and then build your story around those features. Remember, when it comes to luxury properties, selling a lifestyle is a critical component that many buyers are particularly interested in.

Topics and Questions You’ll Uncover During this Episode:

• What steps should be taken when preparing a listing to go to market?
• Best practices for reaching your target luxury real estate buyer
• The importance of high-quality print materials
• Why individual property websites are so important
• How do you tell your property’s story in the most effective way possible?

Resources Mentioned within Episode:

• Official Website - Avenue Stone Real Estate
• Connect with Tanya Starkel on LinkedIn
• REAL Marketing
• The Institute for Luxury Home Marketing

The “Tami” Framework for Marketing a Luxury Property:

Once you’ve earned an entry-to-midpoint luxury real estate listing in your market, what’s your next step? Before you start any marketing campaign, you should keep in mind three basic principles that will help guide you down the most effective path:

1.) Preparation: Remember, no marketing strategy can overcome commonly overlooked pitfalls like incorrect pricing or low-quality presentation materials

2.) Building the Story: Whether you’re using photography, video, or drone footage to highlight the luxury property, be sure to do so with clear messaging in order to have the greatest impact on potential buyers

3.) Telling the Story: Once you have your materials built, you need to make sure you’re presenting your story in the most effective way possible via different marketing channels

With the above principles in mind, marketing a luxury property doesn’t have to be unnecessarily difficult. Remember, it’s important to give yourself enough time to get the marketing approach right. At the same time though, you can’t spend so much time in the prep work that the seller starts to get anxious before going to market. In order to streamline your process, focus on the things that help make the property unique, particularly the lifestyle that the property will provide. As long as lifestyle is the foundation of your story, and you use high-quality materials to present your story, you’re headed down the most direct path towards finding the right buyer for your luxury listing.

Topics and Questions You’ll Uncover During this Episode:

• How incorrect pricing can set you back significantly when trying to sell a property
• Why properly staging a luxury home is so critical
• How to approach certain luxury property challenges that cannot be overcome
• What is the difference between a “Want Market” and a “Need Market”?
• Why are luxury broker open houses so important?

Resources Mentioned within Episode:

• Estate of Mind — The Art of Selling Luxury Real Estate Podcast
• Connect with Tami Simms on LinkedIn
• REAL Marketing
• The Institute for Luxury Home Marketing

Breaking Down Negotiation in Luxury Real Estate:

When we think of negotiation, it’s often synonymous with some sort of conflict that is being worked through. For example, your seller wants a certain price for their property, and the buyer doesn’t want to pay that price. This scenario can certainly take on the appearance of a conflict, but it should instead be looked at as an opportunity for two parties to simply reach an agreement. A negative connotation doesn’t need to be present here, and the approach one takes can actually be quite positive.

Negotiation is simply coming to an agreement where both parties are compromising to some degree. While real estate negotiation will sometimes leave one party less satisfied than the other, it’s still important to remember that it is the job of a luxury real estate professional to be able to fully explain why negotiating is often the best approach. If you can educate and inform your client before the negotiation process starts, you’re setting them and yourself up for a more agreeable outcome.

Successful Negotiation Is All About the Prep Work:

Like any skill, negotiation needs to be practiced — a lot. If you want to be truly great at something, you need to practice at it not until you get it right, but rather until you can’t get it wrong. There’s a big difference between being capable of success and consistently finding it. When it comes to effectively preparing for negotiation, you need to be aware of the personality types that are going to be part of the process. You have to take these personality types into consideration so that you can better prepare and know how to subtly maneuver the conversation in order to achieve an agreeable outcome.

You also need to be prepared for any possible objection that may be presented at any point in the conversation by being able to very clearly explain both the process and the rationale behind it. Remember, when it comes to successful luxury real estate negotiations, you’ll achieve better results based on the amount of preparation you put in before the conversation even begins.

Topics and Questions You’ll Uncover During this Episode:

• How do you prepare for a luxury real estate negotiation?
• Why being able to explain one’s professional fees is so important
• How using scripts as a baseline for discussion can save you time
• Why is doing your research before negotiation so critical?

Resources Mentioned within Episode:

• Official Website - GLOBL RED
• Official Website - Kofi Nartey
• Full Mogul Podcast
• Connect with Kofi Nartey on LinkedIn
• REAL Marketing
• The Institute for Luxury Home Marketing

Being a Real Estate Professional Is All about Building Relationships:

As a luxury real estate professional, constant communication and negotiation are two parts of your day-to-day interactions that are incredibly important. To become both a more effective communicator and negotiator, it’s important that you understand your client’s path to “yes” and the most effective way of leading them there.

First, you need to figure out what’s happening. Specifically, you need to determine what your client is in need of, and then you’ll be able to more accurately determine the best path to help them achieve it. To do so, you need to create a conversation that flows from one detail to the next, always building momentum along the way by creating a series of yeses that will help your client realize that you’re aligned with exactly what they’re looking for.

Remember, focusing on the customer by specifically being attuned to their pace of conversation is the key to more effectively communicating with them — and effective communication will quickly lead you down the negotiation path in becoming the ideal luxury real estate professional for them to partner with.

Topics and Questions You’ll Uncover During this Episode:

• The importance of negotiation as a luxury real estate professional
• How does improvisation factor into building better relationships?
• The concept of thinking input before output to determine client needs
• Building persuasive conversations as an effective negotiator

Resources Mentioned within Episode:

• Official Website - Yastrow & Co.
• Ditch the Pitch: The Art of Improvised Persuasion
• Brand Harmony: Achieving Dynamic Results by Orchestrating Your Customer's Total Experience
• We: The Ideal Customer Relationship
• Getting to Yes: Negotiating Agreement Without Giving In
• REAL Marketing
• The Institute for Luxury Home Marketing

The Importance of Properly Preparing for Luxury Real Estate Listing Appointments:

What does your preparation process look like when you’re about to conduct a marketing consultation?

When it comes to luxury real estate, the time and effort you put into preparing are key to securing the listing and entering into a partnership with a new client. There are a variety of tools, such as the Online Wealth Lookup (OWL) tool and WealthEngine, that can help provide you with valuable insight you can use to better prepare for the listing appointment. Throughout the process though, it’s imperative that you constantly keep in mind what the client wants, and always work within their expectations. The key here is not only to help sell their property, but to sell them on your partnership so they become a valuable part of your referral network.

Topics and Questions You’ll Uncover During this Episode:

• What types of pre-listing materials should you send?
• How do you research sellers before the marketing consultation?
• How to manage price expectations during listing appointments
• How to respond to commission fee pushback

Resources Mentioned within Episode:

• Official Website - Michael Morrison
• Connect with Michael Morrison on LinkedIn
• Online Wealth Lookup (OWL) and WealthEngine
• REAL Marketing
• BombBomb Video Email
• The Institute for Luxury Home Marketing

Using Data to Display Your Expertise as a Luxury Real Estate Professional:

How are you currently using your Luxury Market Report? Are you using it to provide your sphere of influence insight into the latest market trends that directly impact them? If not, you’re missing out on a prime opportunity to cement yourself as a trusted advisor and create additional referral opportunities.

The Luxury Market Report is one of the most valuable resources available for luxury real estate professionals, and is the perfect source material for building effective marketing campaigns and conversation starters. Converting facts and figures into engaging, digestible content is one of the best ways you can display your expertise as a luxury real estate professional. In order to effectively build upon your referral pipeline and connect more closely with potential clients as a trusted advisor, you need to provide them with valuable content that will help them make informed decisions based on current luxury market data, conditions, and trends.

Using the Luxury Market Report to Become a Trusted Advisor in Real Estate:

Becoming a trusted advisor is something every luxury real estate professional should strive for. As a trusted advisor, you become more than just a real estate professional — you become the go-to source for real-estate-related answers to a variety of questions, and the go-to source for solutions to a variety of real-estate-related problems.

Market insights are incredibly valuable, and can make all the difference in who a luxury real estate buyer or seller chooses to partner with. By providing insights from the Luxury Market Report, real estate professionals can not only establish themselves as incredibly knowledgeable in their respective markets, but can create a sense of consumer confidence that partnering with them (and seeking out advice from them) is the best move to make.

Topics and Questions You’ll Uncover During this Episode:

• How important is brand recognition in luxury real estate?
• Building brand recognition with data-driven content
• Why capitalizing on readily available resources is so important
• Where can real estate professionals find credible resources?

Resources Mentioned within Episode:

• Official Website - Sherri Anne Green
• Connect with Sherri Anne Green on LinkedIn
• The Luxury Market Report
• The Institute for Luxury Home Marketing

Networking Both Locally and Globally to Build Your Sphere of Influence:

When it comes to networking as a luxury real estate professional, you should always come to your contacts with something useful in order to help establish yourself as their trusted advisor. Becoming a trusted advisor is the key to not only expanding your referral network, but for effectively building your sphere of influence as well. And in building a sphere of influence — especially composed of other professionals outside of the real estate industry — you create additional opportunities to connect potential clients with valuable services they’ll be able to benefit from.

Global networking is common, especially as a real estate professional who works with the upper tier. By expanding your network to include individuals outside of your established market, you allow yourself to bring potential buyers into your market. In turn, you create referral opportunities with other real estate professionals, and begin to build a network that can truly span the globe. Your sphere of influence, therefore, isn’t solely limited to partnering with other professionals and services that are in close physical proximity to you. The more resources you’re able to form strategic partnerships with, the more likely you’ll be able to accommodate potential clients with the various needs related to buying or selling a luxury home (especially when it comes to international purchases).

Topics and Questions You’ll Uncover During this Episode:

• Why is local networking so important for expanding your sphere of influence?
• The importance of being charitable while growing your referral network
• How do you foster better referral relationships in luxury real estate?
• Building visibility on a more global scale
• Why being useful to your clients is so critical as a luxury real estate professional

Resources Mentioned within Episode:

• Official Website - Yali Alpizar
• Connect with Yali Alpizar on LinkedIn
• The Institute for Luxury Home Marketing

Positioning Yourself as a Thought Leader in Luxury Real Estate:

Building connections in luxury real estate is a huge component of finding future success within the industry. The network you build, otherwise known as your sphere of influence, is not only the foundation of your referral base, but also the foundation of a successful professional career. To find true success though, you need to make a concerted effort to systematically build your sphere (as opposed to just unconsciously growing it).

One way to expand your sphere is to position yourself as a thought leader, particularly within your community. Remember, if you can help make the community around you successful, the community around you will in turn likely help you achieve success as well. Forging close relationships with others — relationships built upon trust and providing valuable information — is the key to building your sphere and expanding your future referral pipeline. Remember, people don’t necessarily want to work with you because of what you do…they most likely want to work with you because of who you are as a person (and trusted real estate advisor).

Topics and Questions You’ll Uncover During this Episode:

• Why is it important to become a thought leader in luxury real estate?
• How to position yourself as a thought leader in your local community
• Why you should always seek out becoming the go-to expert
• How to define luxury in the real estate industry
• Why you should actively diversify your sphere of influence

Resources Mentioned within Episode:

• Official Website - Julie Faupel
• Official Website - REALM Global
• Connect with Julie Faupel on LinkedIn
• The Tipping Point: How Little Things Can Make a Big Difference
• The Institute for Luxury Home Marketing

Building Your Brand Images Independently from Your Brokerage’s Brand Image:

When it comes to effectively positioning yourself as a luxury real estate professional, your brand image and the reputation you build are incredibly important. And while your brokerage may enjoy a certain type of reputation amongst other professionals, your individual reputation is what’s going to impact whether or not potential clients want to partner with you in the future. Remember, though your brokerage will undoubtedly provide you with resources to assist you in your career, it’s critical that how you use those resources (and consequently work with clients) serves as the basis for your personal branding.

In luxury real estate, your business is built upon who you are, the types of relationships you foster with clients, and how effectively you meet the needs of your client base. Your brand image should revolve around the things that make you unique as a real estate professional — not the things that make your brokerage what it is. Having a genuine connection with everyone you encounter will go much farther in helping your referral pipeline than how familiar a potential client is with the brokerage you’re associated with. However, it is also important to note though that the culture of your brokerage is critical to your success.

Authenticity and Always Delivering a Luxury Experience:

Since crafting a brand image is so closely connected to the type of service you deliver, it’s important to always be your authentic self when working with the upper tier. Authenticity will help guide your efforts, providing the blueprint you need to customize the type of service you deliver and establish yourself as the go-to real estate professional within your market. Remember, your referral pipeline will benefit from the more positive, luxury experiences you’re able to deliver on, and will likely help expand your sphere of influence at the same time as well — all while establishing your brand as a luxury real estate professional.

Speaking of luxury experiences, have you ever thought about what “luxury” actually means in real estate? Luxury real estate is typically defined as a home sale falling within a particular price point. However, since prices are based on market conditions, and market conditions aren’t something we as individuals have much control over, price really shouldn’t be what defines you as a luxury real estate professional. Instead, you should be focusing on delivering bespoke experiences that truly embody the idea of what luxury real estate is all about. Therefore, luxury real estate is all about high-quality service delivered to each and every client in order to create as unique an experience as possible — all of which will help define your personal brand.

Topics and Questions You’ll Uncover During this Episode:

• Why your brand should be independent from that of your brokerage
• Why is featuring the “real you” in your branding so critical for connecting with others?
• The importance of leveraging the tools and resources provided to you by your brokerage
• How community involvement can help you find success as a real estate professional
• What does “luxury” really mean in the world of real estate?

Resources Mentioned within Episode:

• Official Website - Ricardo Rodriguez & Associates
• Connect with Ricardo Rodriguez on LinkedIn
• The Institute for Luxury Home Marketing