Last month we asked readers to share their favorite real estate book. The responses were overwhelmingly in favor of three books in particular: Rich Buyer, Rich Seller!, (7L) The Seven Levels of Communication, and Underwater Home. Although we couldn’t reprint all the recommendations, here’s a few of the lively comments real estate pros wrote about these three books. Find out why they’re worth putting on your must-read list in 2012.
Rich Buyer, Rich Seller! The Real Estate Agents’ Guide to Luxury Marketing Luxury Homes by Laurie Moore-Moore
“Fabulous insight into how the luxury market works! A must read for all agents who want to work in this niche.” — Gretchen L. Lambeth, Hawaiian Isle Real Estate, Kailua-Kona, Hawaii
“Hands down, it’s the best written, most comprehensive yet concise real estate book I have read. It provides unparalleled insight and value to all luxury real estate professionals, from novices to the most experienced.” — Darren Weiner, Antigen Realty, Miami Beach, Fla.
“I was one of the early members of the LHMS designation and have attended two of Laura’s classes over the years. This book is the most successful tool I have and the information has allowed me to become and remain a strong presence in the luxury home market for my area. The most important insight was learning the housing market at the various price points. Many of the homes I list are custom homes, so this pricing strategy is paramount in helping me get the price point across to my sellers. I use this strategy when pricing all my luxury homes and homes that are in other price ranges as well. After years of following the steps in Laura’s book, I am now regularly interviewed by the local paper when they are working on a real estate specific story. I can’t thank Laura enough for her efforts that have resulted in my success.” — Petra Fahey, Real Living Country Ranch, Bullhead City, Ariz. Continue reading »
By Melissa Dittmann Tracey
Using a traditional (a.k.a. boring) marketing strategy is one of the riskiest things you can do, as it threatens to make you invisible to the customers you need most to succeed. That’s the main thrust of Seth Godin’s classic Purple Cow: Transform Your Business By Being Remarkable (Portfolio, 2002), a quick read of case studies and commentary on how to make your brand something everyone will be talking about. Godin shares lessons from innovators such as Krispy Kreme, Apple, and Starbucks as he inspires you to stop following the herd and find your own way to be remarkable.
FROM THE BOOK: 5 WAYS TO BE REMARKABLE
Do you feel invisible and anonymous when prospecting? Then start searching for a “Purple Cow” you can bring to your business. Unlike boring brown cows, Purple Cows are products or services that have built-in remarkable elements that literally sell themselves. Here are some ideas from the book for making your company stand out from the crowd:
1. Sniff out the sneezers. Godin uses the term “sneezers” to describe people who are so excited about your services that they infect all those around them with information about you and what you have to offer. Spend all your energies pleasing this group and figure out ways that you can grow and reward this group. “Ignore the rest,” Godin writes. “Your ads (and your products!) shouldn’t cater to the masses.” Do you have the e-mail addresses of the 20 percent of your customer base who loves what you do? If not, get them. And then concentrate on making this 20 percent happy.
By Melissa Dittmann Tracey
If you’re not one of those people who naturally oozes charisma, communications expert Mark Wiskup has good news: Being likeable is learnable. In his book, The It Factor: Be the One People Like, Listen to, and Remember (AMACOM, 2007) Wiskup doles out advice for perfecting your elevator pitch, mastering small talk, giving good compliments, and steering clear of annoying patronizing patter. The advice may not be groundbreaking, but this quick read’s practical scripts and sample scenarios are great refreshers before any client meeting, party, or networking event. Buy the Book
FROM THE BOOK: 5 WAYS TO BE MORE LIKABLE
In real estate, being a “people person” is core to your job. You must forge relationships quickly and earn the trust of those you meet. Say the wrong thing, and you can kiss that first impression goodbye. Wiskup offers these ideas for boosting your likeability factor in almost any situation:
1. Be specific with compliments. Vague, lackluster praise (“I’m really happy to meet with you today”) comes across as insincere, insensitive, and can even leave the other person feeling resentful. Make your compliments stick by being descriptive and showing that you did your homework. Instead of: “Great job on the marketing report. Keep up the good work,” try “Good job on the marketing report. The third-quarter demographic stuff really helped me focus on where the money is for us. I was really impressed with your analysis of the competition.” Continue reading »
By Melissa Dittmann Tracey
The slowdown in the real estate has sent some investors fleeing from the market. But those bailing out may be missing opportunities, say the authors of Making Hard Cash in a Soft Real Estate Market (Wiley, 2007). There are still big bucks to be made — even in a down cycle. In fact, authors Wendy Patton and Justin Ryan argue that “more money has always been made in a down market than in an up market.” They highlight how investors can snag the best buys, master market-timing and risk management, and prepare finances — all to better help you become a savvy investor in any type of market.
FROM THE BOOK: 5 INVESTOR TIPS IN A SLOWER MARKET
Slower markets can offer rich opportunities for investors: real estate sellers are more open to negotiate and lower home prices — and combined with low interest rates — can help you get properties at bargain levels. Yet, some buyers are reluctant.
“The market may not look perfect,” the authors write. “This is why prices haven’t taken off yet” — and why you want to get in before they do! The book offers the following tips:
1. Timing is everything. Enter the market cycle early. “When it’s quiet, when the media isn’t saying ‘record levels of appreciation,’ that’s when you want to jump in,” the authors write. As billionaire oilman J. Paul Getty once said: “Buy when everyone else is selling and hold until everyone else is buying.” Continue reading »