Posts in business strategies
SUPERHOST SUPERHEROES - Greetings, Greeting

Greeting your guests is an art form.

Its one of the most crucial parts of being a short-term rental owner.  First and foremost you need to know what type of guest you have staying at your property.

Some people want all the bells and whistles with a whole concierge experience and to know all the ins and outs of the property.  Other people just want a hello, and a quick squeeze of the hand and some people don’t want to be greeted at all!   All people want to know you are available though.   That’s of the utmost importance.

The trick is to learn what your guests want ahead of time, so you don’t over-step or under-step.  If either of those things happens, you will get bad reviews, which equals bad time for your property.   Reviews are after all your “lifeblood.”

So, simply email your guests, ask them what kind of greeting they would like and then go from there.  It’s as simple as that. 

Just remember to always let your guests know that you are always available, so you over-exceed expectations, which will make you go from a host to a superhost! 

Thanks for watching

Pete

Coeur d'Alene Article: RIGHT AT HOME: PREPARING A SWOON-WORTHY VACATION RENTAL
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By KIM COOK

If you're thinking of listing your home as a vacation rental, have a listen to what travelers say makes a space inviting and welcoming, and what's a turnoff.

For starters, amenities and cleanliness matter.

"I would have loved better sheets and towels as well as decent soap and amenities," says Carol VanderKloot of New York, who was underwhelmed by a recent Michigan rental.

Nice linens are mentioned often in online reviews. In a poll conducted by Airbnb this summer, travelers rating their vacation experience cared most about the quality of their accommodations, followed by amenities that are functional and thoughtful. So along with nice shampoo, consider a bottle of wine, a bicycle, scooter, sled or fully loaded beach bag.

A host in Los Angeles whose home is popular with young families stocks kids' books. In Milan, Italy, a host with a pool set up Bluetooth speakers outside.

Focus on potential guests' comfort, both in your decor and your marketing, says Peter Lorimer, a Los Angeles-based real estate expert.

He has teamed up with interior designer Genevieve Gorder on a new Netflix series, "Stay Here," in which they help homeowners refurbish and redecorate their spaces to make them more attractive to visitors.

"Massively bad for repeat business is dirt," he warns. "After every guest there needs to be a cleaning plan. Look at this as an investment in your business; if a restaurant is dirty you'll never go back, and it's the same with short-term rental."

Gorder notes that everyone has different standards for tidiness, so it's best to go pro. "It has to look, feel and be CLEAN," she says. "That means having a professional service handle your rental before and after each guest checks out. Your reviews will skyrocket and that's worth its weight in gold."

Get rid of stained or worn carpeting, refinish wood flooring, and lay fresh tile or new rugs. Provide several good mirrors, as well as storage, and a folder or notes on how to operate things. As Lorimer points out, "the last thing any guest wants is to try and figure out how to use the TV remote or turn the ceiling fan on and off."

Consider including "insider" suggestions for what to do and where to go in the area. Displaying some local photography or artwork might pique curiosity and help you build a relationship with nearby shop owners too.

Lorimer suggests drawing up a calendar of fun local events and posting it with your listing. Consider an incentive gift for longer stays, like a gift certificate for a local restaurant, or lift tickets at the ski hill.

Gorder warns against the "junk drawer" effect, where owners try to save by kitting out their rentals with dated furniture and hand-me-downs.

And keep the decor relatively neutral.

"Owners tend to decorate for themselves and how they live instead of for their guests," she says.

"Home is in many ways a reflection of our most intimate selves. When you turn a property or a room in your home into a short-term rental, it's time to shift your thinking." The key is finding a balance: a space that's neither too personal nor impersonal.

Renters differ about how much personal style they like in a space. VanderKloot enjoyed an array of vintage radios displayed on a shelf in a Michigan home, but appreciated not having kitschy decor in a rental in New Orleans. "The Scandinavian interior in that rental was a perfect counter-palette to the excess of (the city)," she says.

In an apartment in Copenhagen, New Yorker Darby Drake says she would have appreciated some personal touches. "What turned me off most was how bland everything was. It didn't quite feel 'lived-in,'" she says.

Invest in a standout piece or two, if you can. Drake fondly recalls a big, comfy, cowhide lounge chair in a different Copenhagen rental, as well as another great piece: "There was this massive gray bean-bag lounger that was wonderful. After a long day exploring the city, it was great to be enveloped by it."

The lounger wasn't shown in the online photos, Drake says. And that could have been a missed opportunity.

"The No. 1 reason for guests not booking is bad marketing," Lorimer says. Cell phone photos won't do. "A professional photographer must be engaged, and the whole area needs to be designed or even staged so that the lifestyle is being sold every bit as much as the accommodation," he says.

"Think of short-term rentals like online dating. If you take bad pictures and/or don't dress up for the shots, you just get swiped and forgotten."

Take seasonal photos of your yard or nearby attractions, he suggests, and change them online accordingly.

Consider, too, a well-stocked snack cupboard, some unobtrusive but pleasant home fragrances, a first aid kit, and perhaps some chilled beverages in the fridge upon arrival; small, thoughtful details make even the most modest space welcoming.

"It may be your guests' first time in your city or town," Lorimer says. "You may not physically be there, so anything you put in your rental is acting as guide and host. Anticipate what they'll need before they know they need it. That's the key to a happy guest."

READ FULL ARTICLE HERE


AOL BUILD BRUNCH SERIES – Guest Appearance

I had a blast at the table chatting with the gang over at BUILD BRUNCH; a fantastic live interview show focused on influential personalities speaking to breaking new & hot topics.  I was delighted that they asked me on as a guest!

The five of us sat down and did a deep dive into ‘Stay Here,’ where we covered the ins and outs of the show and much more.  We discussed mine and Genevieve’s wild horse ways and cohost vibes, my favorite place on the journey, the biggest hurdles in filming the show, granny couches, my shift from music to real estate, my knack for knowing the next big trends and I may even give some stock tips along the way. 

Be sure to tune in to get the full interview HERE

Peter

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#MondayMantra – Your #1 Asset in the Economic Shift

Everyone in real estate at the moment can sense a shift.  It’s nothing to be worried about, but what we need to do is adapt and evolve based on the change coming.  


We’ve all had it really good for a decade now, since 2008 after the crash, but good times cannot go on forever, unfortunately.  For any economic system to function there has to be the natural ebb and flow.  We have had a phenomenal run, but it’s about to change.  How much?  We’re not sure.  Houses are getting reduced and spending more days on the market, so that is a clue.   


Next year the market is going to shift to those who can procure business out of the air and not just stumble on deals like it’s been this past decade.  


We’re at the benchmark in the market where a change is coming.  It’s going to be a leaner time.  Those of us who have the skill set and old school techniques can still flourish though.  


Something to consider… “PNS”- (a phenomenon)- the Priority of Neck Saving. The corporate mentality of when shit hits the fan then the top people scramble to save their owns necks first and then people at the bottom of the chain find out last. 


Here is where the indies can take the reigns and run.  Wouldn’t you want to work next to the guy who has everything to lose, in order to succeed, and follow his lead?  I know that is where I’d want to be.  


This leads me to the perception of the public.  The common person cannot tell the difference between brokerages, but they can tell the difference between individual agents.  This is the time for you indies out there to charge and pounce on the confusion in the market. 


What is the #1 asset in the economic shift?  Self-promotion! 


If you don’t blend in, you stand out! 

Top 3 Tools to flourish in this shift (of course you still have to do all the grunt work; prospecting, sit open houses, etc.)

1-Social Media

2-Social Media

3-Social Media


Use the internet as your own personal PR company to flourish in this changing economic climate.  


Thanks for watching 

Peter

BRAND NEW – BACKSTAGE PASS – How To Rave At 7AM In San Francisco

On my last morning in San Francisco, for the Inman Real Estate Conference, I decided to really go out with a bang… My mate Jessie Beaudoin coaxed me into going to a Daybreaker Morning Rave on a boat. This one wasn’t like the old ones though, as they swapped out drugs and drink for yogurt and yoga!

I honestly had no idea what I was getting myself into, but ended up getting the full monty. Unbelievable things occurred on the water that morning. While there, I got to rub elbows with some of the most super lively and fun partygoers I’ve ever seen.

Truth be told, I hadn’t experienced such energy, atmosphere, and an overall amazing vibe since I was in Ibiza. It goes down as one of the most unexpected and incredible experiences I’ve had so far.

I was sad to go, but kept the glow of that glorious rave with me when I headed back to reality.

Thanks for watching and being part of the rebellion

Pete

REALTOR.COM Article: How to Make Big Bucks on Airbnb: Vacation Home Secrets From the Netflix Series 'Stay Here'
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READ FULL ARTICLE HERE

Don't you wish your home looked so dreamy, you could make money on Airbnb if you rented it out? A new Netflix series, "Stay Here," can show you the ropes.

On the series, designer Genevieve Gorder and real estate broker Peter Lorimer show homeowners how to prepare properties to make a killing on short-term rental sites such as Airbnb.com and VRBO.

Sure, you can put clean sheets on a sofa bed and make a modest side income letting travelers crash in your den. However, if you want to make a serious profit off your rental and have it booked every night by return visitors, you have to go the extra mile.

And the proof is in the bookings. For the first season of "Stay Here," Gorder and Lorimer revamped a number of properties—including a houseboat in Seattle, a vineyard cottage in Paso Robles, CA, and even a former firehouse in Washington, DC.

Every property they touched has ended up booked solid clear into next year, with rental income that has "doubled, tripled, even quadrupled," says Lorimer. "It's surpassed even what we estimated on the show."

So whether you're hoping to drum up more business for your own short-term rental or just want your home to look like it could, check out this advice from Lorimer and Gorder to get more of a vacation hideaway vibe in your own home.

'The bed is the throne of the house'

"No matter how beautiful everything else is, if they can't sleep well, guests have a bad experience, give you negative reviews, and will never return," Gorder says. "So make the bed clean, white, and high quality. Invest in great sheets!"

But isn't white almost impossible to keep clean?

"It's actually the most forgiving of colors," contends Lorimer. "If it's high-quality, you can bleach it again and again. And it doesn't fade in the sun or the washing machine, like most other colors do."

The hosts suggest using a cozy throw on the bed for color and texture.

Create a unique welcome basket

"Anticipate what your guests need before they know they need it," suggests Lorimer. That means stocking the fridge with bottled water. Plus your guests will swoon if you provide a goody basket filled with local delicacies, beyond "just granola bars and salty snacks."

Gorder suggests spending as much as "10% of the price of a one-night stay" on the goody basket, and to make sure the contents are directly connected to the area.

For example, the goody basket for the Seattle houseboat contains smoked salmon and locally grown apples; the guesthouse in Brooklyn comes filled with brilliantly colored bagels from a nearby shop.

Pick a 'theme experience'

Guests will pay extra for "theme experiences" corresponding with the location.

For instance, since the property in Paso Robles was located on a vineyard, Gorder and Lorimer helped the owners put together a vineyard tour/farming experience that include tending grape vines and riding on a tractor. And in Austin, TX, they put a brand-new, fabulous barbecue in the backyard and came up with a professional griller who could come over to help renters use it.

Purge personal items

Similar to staging a home to sell, you should remove all personal items—e.g., photographs and mementos—from the premises.

As Gorder points out, "Wouldn't you find it creepy if you checked into a hotel and there were family photos hanging around? Remember that it's not about you anymore. It's about style, geography, and comfort."

She advises replacing personal items with accessories unique to your geographical location—a jar of shells if it's a beach house, or colorfully painted oars if you're near a body of water.

Never take the listing photos yourself

Once you have your property decorated and ready to list, Lorimer says, "It's absolutely essential to hire a professional real estate photographer to best present your property in all its glory.

"You should get a return on that investment within the first month," he says.

Create a social media footprint for your property

The first step is to "decide on a simple, descriptive, and memorable hashtag," Lorimer says.

Do not go with the plain and obvious, like #1BRRentalNearSantaBarbara, he says. "Pick something more fun and descriptive, like #ArtistHideawayInOjai.

"Then use that hashtag on the property's own Twitter account, Instagram account, Facebook page, and website," he advises.

Be sure to post some gorgeous photos as well, he says, and "encourage guests to post photos of themselves in your place using your hashtag. It's free advertising!"

Keep your short-term rental clean, clean, clean

"There is no such thing as too clean," notes Lorimer. One mucky dish or soiled towel can result in a bad review, and "that's extremely difficult to overcome."

"Clean is the first impression you want to leave when they step in the door," agrees Gorder. "If it looks bad, or smells bad, you've lost them."

Find all episodes from the first season of "Stay Here" on Netflix.

BRAND NEW - MAGIC MINUTE - What Is A Sellers Market?

Real estate goes in natural cycles both up and down… Currently, we are in a very long lasting seller's market.

What does this mean?

It means that the advantage in the market goes to the “sellers”, so, if you are a buyer you, unfortunately, have to compete against endless other buyers to obtain a property.

Conversely, when the market contracts it will become even for a moment and then swing in the direction of favoring “buyers”.

Thanks for watching and being part of the rebellion

Pete

#MondayMantra - Acceptance - Life On Life's Terms And How To Turn Them Into Your Advantage

Today’s Mantra is fresh off the back of a major life event for me. Whilst I was in the UK I had to handle an incredibly personal matter and I choose to handle it in a very specific way. The strategy I choose worked beautifully, it’s a strategy I have used in business for years to my advantage. 

Life on life’s terms, for me, is the way I get to see the road map rather than force it that has allowed me to garner harmonious business relationships of meaning and length rather than a quick win. 

Life on life’s terms truly is the way to win the long game and in my opinion the only game worth winning is the long one!

Thanks for watching

Peter

10 Instagram Hacks All Real Estate Agents Need To Know

From geotagging to IGTV, we rounded up the best Instagram hacks to help you promote your brand, showcase properties and get more leads

BY VERONIKA BONDARENKO

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READ FULL ARTICLE HERE

With all the things real estate agents have to keep up with on any given day, staying on top of the ever-changing world of social media can be a whole new job in itself. The thing is, if you’re a real estate professional and you aren’t on Instagram, you’re seriously missing out.

Peter Lorimer, of PLG Estates, says Instagram is tailor-made for real estate. It’s a visual, fast-paced platform that is almost like Facebook, Snapchat and YouTube — all rolled into one; and it’s where everyone is, so if you aren’t there, neither is your business, he told Inman.

Eight years after the social media platform was founded, Instagram’s audience is still growing — it hit the 1 billion active users mark this summer. The platform is evolving (read below to learn how to use features like Stories and Highlights), and an increasing number of agents are using it to sell homes online.

We rounded up the top 10 best hidden Instagram features to help you promote your brand, showcase properties and get leads.

1. Set up a business profile

First things first, you should separate personal social media accounts from professional ones where you post a steady stream of real estate content.

Instagram makes this easy by giving you the option to choose between a business account (if you have a company name) or a personal one (if you work for a larger company and want to use your regular name) that you use for professional purposes.

You can, if you like, also change an existing personal account to a professional one by clicking “Switch to business profile” in the Settings.

But whether you operate under your name or have a small real estate business, be sure to post content — for example, listing photos and information on open houses  — that is relevant to a real estate audience.

2. Read, follow and use popular hashtags

One of social media’s most powerful weapons, hashtags are clickable word labels that allow users to search for specific topics.

On Instagram, hashtags like #realestateagent, #realestatedeals and #luxuryproperty have generated millions of posts. If you’re new to the platform, use these hashtags to see what kind of content other agents and brokerages are posting. (You can also view hashtags by tapping any hashtag you see on Instagram and then clicking “Follow.”)

But hashtags will not only help you find what you want to see — they are also an excellent tool for making posts that are visible to others. As you build your audience, use hashtags that describe what you write (one example could be something as simple as #kitchendesign or #luxuryhomes for a property) to reach a wider audience of users specifically looking for real estate on their account.

3. Geotagging is your friend

Similar to hashtags, geotags are a good way to reach Instagram users in a specific location — one as narrow as a house listing’s address or as broad as the city of New York.

Although geotags are not an effective way to search for real estate properties (an address of anything other than a brokerage will turn up everything from Starbucks photos to selfies), they are a good way to reach your local base.

When posting photos of homes you’re selling, be sure to tag their locations for local users to find.

4. Use the ‘Photo album’ feature for multiple shots and videos

Many people still don’t know that Instagram lets you put up as many as 10 photos and videos in a single post.

Agents and brokerages frequently use the “Photo album” to display multiple photos of the same property. Those who are interested can scroll through them while those who are not can quickly move on to the next post.

“Video, video, video! Storytelling, storytelling, storytelling!” Lorimer said. “Forgive my emphatic nature, but this is where the gold is.”

Here, according to Instagram, is how you use the feature.

5. Stories, stories, stories

As photos and video snippets that disappear after 24 hours, Instagram Stories are a good way to share more fun aspects of your life as a real estate agent or the properties you’re selling.

Some agents use the Stories feature to give quick house tours while others post photos of their pets and kids (as you know, some clients really like that) without clogging the main feed.

Learning how to use this feature might take more time, but the payoff can be huge. Sue “Pinky” Benson, a RE/MAX Realtor who recently presented at ICSF, regularly uses Stories to walk around her Florida neighborhood and discuss the types of homes that are up for sale.

6. IGTV lets you post longer house tours

This summer, Instagram launched a feature with potentially groundbreaking implications for those who work in real estate: IGTV, which lets you post videos up to an hour long.

Use the IGTV app, which works both as a button inside Instagram and as a standalone app, to put up videos of yourself talking about properties or longer house tours.

“We are seeing a lot of engagement on Instagram and decreased numbers over on YouTube, so this evolution of IG makes sense to us,” Anne Jones, a Realtor and owner of Windermere Abode real estate firm, told Inman earlier this year.

7. Highlight your best moments as an agent

Once you’ve mastered the art of Instagram Stories, save the best ones for a permanent place on your profile — here’s how. For many agents, this is a way to display the best properties that they’ve sold, feature for-sale listings or have a personal highlight reel for clients who are more interested in agent’s home life than others.

“Vanilla is choking the industry, so think clearly and carefully on who you are and what you want to present to the world and don’t be a fraidy cat,” Lorimer said.

8. Coordinate posts with other platforms, like Facebook or Twitter

Any social media pro will tell you that cross-posting on different platforms is key to reaching as many people as possible. As great as Instagram is, it’s user base leans young — a vast majority of its user base is under 34.

But if your content is great, you shouldn’t always have to write a new post for a different platform — just coordinate the same content to go out on everything, including Facebook, Twitter and YouTube. This is how, according to Instagram.

9. Set tag approval to your posts

As you become more active on Instagram, clients may start to take photos of homes and tag their agents. This can give your posts greater reach and exposure, but it can also put photos that are off-brand or that you may simply not want others seeing on your account.

To stop this before it even happens, set a filter that makes you approve any photo that somebody else tags of you. Here’s how.

10. Save posts you like for future reference

Although built as a way to share photos with the world, Instagram also has features for your private use. Just like you would make a bookmark of a site you like on your homepage, make collections of property photos or other interesting real estate posts on Instagram.

To do so, tap the bookmark icon in the top-right menu above your profile, choose the Collections tab, and use it to start and name a new list. From then, every time you see a photo you want to save, hit the bookmark icon to bring it to the collection. (Remember: the account owner does not find out if you’ve saved one of his or her posts.)


Netflix series 'Stay Here' features renovation of Hudson carriage house
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By Lindsey Sabado

Just over 210 miles from New York City, the town of Hudson couldn't be more different from the Big Apple.

Famous for its whaling history, antique shops, art galleries and historic district with over 700 properties, Hudson provides New Yorkers an escape from the hustle and bustle of modernity.

Genevieve Gorder, interior designer and HGTV star, brings new life to a historic Hudson home on her new Netflix show "Stay Here." The series, which launched on Netflix in August, explores what real estate expert and co-host Peter Lorimer calls a "revolution in real estate." Online platforms such as Airbnb and VRBO have changed the way that people travel, and also opened up a new market for property owners in popular destinations. On "Stay Here," Gorder and Lorimer "show property owners how to turn their short-terms rentals into money making showstoppers," as explained in the show's intro scenes.

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In the sixth episode of "Stay Here's" first season, Gorder and Lorimer give a total makeover to a carriage house on Warren Street in Hudson. The property owner, Alex Bates, lives in New York City. Before appearing on "Stay Here," Bates struggled to transform the carriage house into a profitable rental and the first floor remained unfinished and empty. Before meeting Gorder and Lorimer, Bates had already invested $100,000 in renovations but the house was still far from ready for guests.

According to the show, there are 199 rental properties within a five-mile radius of Bates' carriage house. On average, rental owners in Hudson charge $200 per night and have 48 percent occupancy each month. To make Bates' rental more lucrative, Lorimer suggested they turn the house into two separate rental spaces. Based on this data and the price point Lorimer recommends ($400 a night between the two rentals), Bates should make roughly $72,000 a  year.

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The "Hudson River Carriage House" episode documents the transformation that Gorder and Lorimer pull off for Bates in just one week. Throughout the episode, the duo sing praises of Hudson- they love its historic charm and beautiful scenery and incorporate this elements into their renovation of the house.

For the interior design, Gorder embraces Hudson's unique antiquing culture. In order to save money and foster community partnership, Gorder decides to furnish the rental with antiques for sale at local businesses. Gorder and Lorimer help Bates make a deal with art gallery and antique shop The Gilded Owl. Guests can directly purchase these items from The Gilded Owl using an iPad register kept at the carriage house.

Beyond renovating the rental, the two experts also teach Bates marketing techniques and how to curate "experiences" for guests. To show off the uniqueness of Hudson, Lorimer and Gorder set up guest outings to a local farm and then to its farm-to-table restaurant.

By the end of the episode, Bates' carriage house is renovated, furnished and stylishly decorated with country-chic accents like ladders, horseshoes, and a large, distressed headboard made from a wooden door.

"This really is the essence of Hudson in our eyes," says Gorder. "You can sleep next to the art and furniture that Hudson is so known for and the architecture that it's celebrated for."

You can book a stay at the carriage house through Airbnb or directly on the host's website.

READ FULL ARTICLE HERE

MAGIC MINUTE - What Do I Do If My Offer Gets Rejected?

It’s a vicious market out there, and if you’re a buyer, you’ve probably been struggling with buyer’s fatigue.  That is where you keep putting offers in and you keep losing out from a combination of low inventory and high demand for houses.

It stings and may hurt for a moment when your offer gets rejected, but I promise you will find another house and all of that sadness will melt away.

If you’re a buyer out there be prepared.   It’s like being in the ring with Tyson… but eventually, you will win.  You just have to stay in the game. 

Rates will be higher next year and continue to go up, so hang in there, take it on the chin and move onto the next one.

Thanks for watching

 Pete

#tbt – My Very First Video

With the weather about to change and the start of the holiday season right round the corner, I thought this was a great time to do a bit of reflecting.  Talk about cringe-worthy… here is a look at the very first video I shot of myself back in 2015. 

I remember vividly how much I desperately wanted to crawl out of my skin.  I had never been so self-conscious or uncomfortable.  The point is though, I knew in my gut that video was the future, so I forced myself to get over my fears by sticking with it and staying on that path.  I lost the tie and started to own my voice and thoughts. 

I made more and more videos and eventually they went from decent to good to great.  3 years later, I landed a show on Netflix by being exactly who I am and putting myself out there. 

If I can give you one piece of advice, it’s to just keep grinding.  No matter how clueless or embarrassed you feel, you have to start somewhere.  I promise you will only get better from that point forward.  This video is proof of that!   

Thanks for watching and being part of the rebellion

Pete

INTERVIEW - The Margaritas and Marketing Real Estate Show
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Branding, Social, and Video Marketing with Peter Lorimer of PLG Estates

I had a fantastic time doing this interview.  Listen to hear Jorge and I discuss my music career, how I moved into real estate and the start of PLG’s unique vibe and culture.  I also dish out all the ins and outs of marketing strategies and tips.    

“In this episode we get into marketing, branding, Facebook, and video with Peter Lorimer. Peter has built a successful boutique brokerage in Beverly Hills, CA by using a combination of digital marketing and relationship marketing. This interview is full of value and Peter doesn’t hold back on anything”.

To hear the full interview CLICK HERE

#MondayMantra – Mentors And How To Find Them

Today’s mantra is all about mentorship, which is an incredibly important topic and one that I feel passionately about.

Success for me isn’t something that I necessarily created. It’s really just following in the footsteps of someone I respect, who has done something similar to what I’m doing ,that came before me. This way I learn from their mistakes, and then, of course, make my own along the way that I also learn from. But the major and priceless takeaway is what you take in on the journey as a whole.

For me, education and learning is a huge part of my life. I have an insatiable appetite for it. I always want to know more from people I admire and drink from the fire hose from life, if you will. I almost feel like it’s my duty to learn.

So, how do we achieve success by following in someone’s footsteps? We find a mentor.

One of the problems with finding a mentor is actually physically finding one though, right?

What you want to do is surround yourself with other people who are positive and successful and shut out the rest. Negative chatter starts to permeate and confuse your path.

Unfortunately, I feel the majority of people are preprogrammed to resist change and don’t naturally have the most optimistic outlook in life. You need to steer clear of these people for mentors.

When you are taking risks and really “going for it” you have to cancel out the negativity around you, especially your inside debating team, which I often talk about.

Here are some tips on finding a mentor:

1- Ask one person a week for coffee and pick their brain.

2- Once a month, or more, take someone you admire out for lunch. You’d be amazed at the tips you can get in an hour one-on-one from someone.

3- Try and have more than one, as successful people tend to be busy.

4- You can even have someone you don’t actually know! Plenty of people out there give everything they know away for free. Use their books, blogs, podcasts (list below)… Take in all the information that people are giving out and hold onto it.

Podcasts to listen to for free mentorship:

1- Reid Hoffman- Creator of Linkedin “Masters Of Scale”

2- Tim Ferriss – Interviews giants of industry

3- Jon Nastor- Hack The Entrepreneur

4- Seth Godin – One of the grandfathers of modern motivation

5- Gary Vee – Motivation

6- Casey Neistat – How to Vlog

7- Peter Mckinnin- Cameras and equipment

8- Bigger Pockets- Anything and everything real estate

The key to it all is- “you help people to help yourself”.

Remember, knowledge is never owned it’s just borrowed, and it’s our duty to pass it on. If you give it all away, you get 10 times more back. I promise you.

Thanks for watching

Peter

MAGIC MINUTE - How Do You Prepare Your House For Sale?

Getting a house ready for a sale is somewhat of an art form, and I have seen it all over the years in terms of terrible mistakes.

So, I’m here to give you some fundamental basics that if you follow you’ll get more money in the sale.

1- A house can never be too clean - get a professional

2- Curb appeal – landscaping

3- Do some repairs – anything that needs fixing

4- Get rid of the junk – remove the clutter

5- Take down all the personal photos

Thanks for watching and being part of the rebellion

Peter

MAGIC MINUTE - What Does P.I.T.I. Stand For?

It’s a phrase you might never hear in any real estate transaction, but in case you do, here is what it stands for:

Principle

Interest

Taxes

Insurance


The only real time you will come across this term is when you just can’t seem to close escrow in the time original allotted.   If the seller is not happy with the extra amount of time the buyer is taking to close and they have to pay the mortgage, bills, etc., for longer than expected, they sometimes ask if you can pay those extra fees; the P.I.T.I. fees. 


Hope that sheds some light on the acronym.


Thanks for watching and being part of the rebellion


Peter

#MondayMantra – The Final Countdown

What on earth do I mean by that?

Someone once told me this little nugget and it always stuck with me… “What is happening today in your pipeline represents the work you did 6 months ago”.

Think about that for a second.  Think about all the work you did 6 months ago and how it translates to right now.    

What tends to happen over the summer and the end of the year is we drift off, but right now is the time to be most proactive.

Here’s a shocking fact, folks- We are only 8 short weeks away from Thanksgiving!   That suddenly makes the year seem real short, doesn’t it? 

So, with that said, I want to get into some opportunities for you all to reach out, even though it’s getting close to the end of the year. 

We are approaching some of the big ‘checkpoints’ of the year, and so this is where you should take the time to reach out to all of your contacts. 

Holidays are a way to reconnect without being insincere since they are all genuinely great times to make contact.   Take Halloween as an opportunity to reach out to people you know, then delegate Thanksgiving for people you kind-of-know and then Christmas for people you may not know at all.  

Remember, the work we are putting in NOW will become evident 6 months from now.  It will be spring in 6 months and our key time for business.  And trust me when I say that there is nothing worse than waking up Jan 3rd and being so optimistic, but then suddenly realizing you have no deals.

This is a call to action for prospecting.  If you have not been reaching out, use this chunk of the year to do so.  It’s prospecting gold! 

A big tip when doing so- Nothing says you don’t care about people more than using a generic message.  That is by far the worst plan of attack.  Be personal and sincere.  Stay away from pictures of posed fruit with no personal message!

Take these 8 weeks of meat left for real hardcore prospecting and getting business in the pipeline. 

When we feel like its time to kick back, what do we do instead?  We step on the gas! 

When everyone is running in one direction, what do we do?  We run in the other! 

Thanks for watching and being part of the rebellion

Peter

INMAN Article - Luxury Connect: Peter Lorimer on being 'everywhere' on social media
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Luxury Connect: Peter Lorimer on being 'everywhere' on social media

How to profitably utilize all social media platforms

BY INMAN Staff Writer

This summer we’re looking at the state of the luxury agent & broker in today’s increasingly complex real estate market. In October, we’ll gather in Beverly Hills at Luxury Connect to share best practices, network, and create blueprint for the luxury agent/broker of tomorrow. Don’t miss it.

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READ FULL ARTICLE HERE

Luxury real estate enthusiast Peter Lorimer of PLG Estates confesses that he “is everywhere” when it comes to social media. “I am one of the maniacs that does Twitter, LinkedIn — Instagram is my main focus — and I still do Facebook and run a Facebook Business page as well, plus I’m considering dialing up Snapchat again,” he said.

Lorimer is going to be talking about how to use technology and social media to make connections in luxury real estate at Luxury Connect, October 16 through 18 at the Beverly Wilshire Hotel in Beverly Hills. He’ll talk about the changes he’s seen sweep through social media and how to stand out from the crowd.

“I’ve been heavily posting on social media for a decade,” he explained, “and I noticed in the beginning that everything lived on every platform, and it was all the same. Someone would do the same post on Facebook, Twitter, Instagram, and everybody looked at everything. Now what I’m finding is, people tend to look at the same one or two platforms all the time, and then occasionally dive into another.”

This is why he’s decided to focus mostly on Instagram for the time being — it has better engagement than many other platforms. But he’s also careful to cater to each audience specifically. “My LinkedIn audience is completely different from Instagram, and my Facebook audience is, for the most part, different, too. I subscribe to the shotgun approach of getting everything everywhere, and I also subscribe to the philosophy that you can never post too much as long as the content is good.”

Hear how Lorimer crafts high-quality content, how he decides to deploy it and how it’s all shaking out in his business when he sits down for a facilitated roundtable discussion as part of “Secrets of Success: Learn From the Experts,” happening only once this year at Luxury Connect.

What do you think the luxury agent of the future looks like?

It’s a tall, British, handsome guy. (laughs)

I do believe that high-touch will never go out of style. And if anything, I think that the luxury agent of the future will actually resemble the agent of today far more than the traditional agent of the future. Because in luxury, it’s all about trust. I can put out all the cool videos I want and use digital social media to open the door, but if at the end of the day I can’t be trusted, trust is the most valuable commodity and I think that will always remain.

I think there are things you can do with technology that can help. I put my clients on an automated anniversary gift, once a year the house gets a happy birthday present from me and I’m blissfully unaware of it. That’s easily done. The phrase I do really stand by is there’s such a buzz on technology — technology, in my opinion, is not the answer. For me, technology is just, it allows us to augment our business. We will not be replaced by technology. The shitty agents will. But the good agents can have technology enhance their business. In fact, I think as there are more automated solutions available, the more high-touch and personable agents are, the more they break through the white noise by doing great social media and high-touch client service. You do a great social media post, pay to advertise it for your entire base, then you start prospecting. “Just checking in — how’s Joe, how’s the dog?” It’s warming up your entire database.

What do you feel are the challenges facing the luxury market this year?

In Los Angeles, I feel the luxury market has contracted and it’s been contracting for at least the last couple of years. There’s too much inventory in the luxury range, it’s the opposite of the regular real estate market. I think the challenges are — I remember selling in the Hollywood Hills when a luxury home was $3 million. Luxury represents trophy properties, and the really good ones tend to get bought. There’s a glut of properties in that range. If you can afford $30 million, chances are you can afford $45 million or $50 million, and a $50 million house is way more luxurious than a $30 million house.

What are some of the biggest problems you’ve faced in growing your business?

There is very little loyalty between clients and agents. It’s amazing. I’m a broker now and have 200 agents, but when I focused solely on luxury, it’s like you eat, sleep, breathe what your clients’ thoughts are, and if you’re prepared to do that, you stand a much higher chance of winning a luxury client, when the odds are massively already stacked against you. In order for you to even compete, you have to live, breathe, eat, think luxury real estate 24/7.

The biggest challenges are if you want any kind of life. You have to be prepared to be at your grandmother’s 80th birthday and run out the door before she cuts the cake to show a client a house they probably won’t buy. To be quite honest, I think a work-life balance is beautiful because I don’t want another million bucks on my deathbed, I want to know I spent time with my children. Money’s not the object for me.

I am just a passenger, I’m passing through, and I came into this world with nothing and I’m going out with nothing, so I don’t really give a shit how much I’ve got of anything, And I’m very fortunate because I’ve managed to accrue a bunch. But there is no deal big enough that would make me leave my kids’ birthday. I have dinner with my children every single night, and I have breakfast with them every single morning, and I make sure I have as much face time with them as often as possible. I may go out and work after dinner for a bit, I might not, but I am not an absent parent. I value family way above and beyond any monetary thing.

How has technology changed your business, and what are you most intrigued by that you’re not currently using?

I am hopelessly addicted to technology. Have been since I was a child with my first digital watch. I try everything. I reach out to all the people in Startup Alley, check everything out — I will look at absoltuely every piece of technolgoy that I can lay my hands on.

Very few of them provide massively game-changing solutions. This is not particularly new, but there’s something at PLG we adopted called RealScout, and I find that to be a game-changer with our business. I find Contactually to be a game-changer with our business. The tools I love are Iconosquare, I can schedule Instagram Stories posts and get really great analytics. Sprout Social is another one I live and die by. I’m exploring

What’s the question you hear most from your clients? And what’s your answer to them?

The question I hear the most, “where are interest rates,” I just tell them where they’re at. The question I hear the most from my clients, which is gratifying — I’ll be standing at a property with my clients, they’ve got Zillow and Redfin open, they’ve got all the apps and technology out the wazoo, they can see what I can see, but the question they always ask me is this — and this is why good agents will have a career — “what do you think?”

All the technology in the world that will allow them to make a decision without me, yet they still need my blessing. As long as agents can bring a value add, very much like a family doctor or great attorney, they will be around. If I’m in jail and I need to be bailed out, I’m not going to be going on the internet and dialing an 800 number. I’m going to call people I trust and ask for a referral.


BACKSTAGE PASS – ‘Stay Here’ Netflix Screening Party 

This Backstage Pass marks a huge milestone for me.  It’s not that often I get to say this kind of thing, but it was my Netflix premiere party for my new show ‘Stay Here’.  What a crazy mouthful of words!  

My plan was to get everyone nicely tipsy and then screen a couple of episodes so of course they would then love it, and that is exactly what I did! 

But in all seriousness, it was so heartwarming to see friends, colleagues and family;  people I’ve just met and people I’ve known for 25 years all come together to share in a huge night in my life.    

It was an evening full of entertainment, drinks, food and most importantly friends. 

I think it was a massively successful night and I want to give a shout out to everyone that was there to support me as well as all of you that have been watching.  I don’t think it could have went any better and the response was phenomenal.  

If you want to check out what we viewed at the party you can watch ‘Stay Here’ NOW on Netflix!

Thanks for watching and being part of the rebellion

Pete

MAGIC MINUTE - Should I Write A Letter For My Offer?

The answer is a resounding yes! 

In a super competitive market, such as what we’re in right now, anything that sets you apart from other offers can make all the difference in you getting the house of your dreams over someone else. 

In this “love letter” to the seller I suggest picking out the obvious things the seller has done to make it super personal; the wallpaper in the master, the red and white stripes in little Johnny’s room, the frog fountain in the backyard or the brass door knocker on the front door that looks similar to one that you had growing up.  

Talk about the details, your feelings in regard to them and how you won’t change a thing and know that it’s your forever home!  

I will say that I have seen sellers accept offers that are far less than others just because of the love letter and family photo included.   This can be what puts you ahead of the pack to get that house you love.  

Thanks for watching

Peter