Posts tagged peter lorimer
Staying in Touch With Past Clients | MailBag | Q&A

✉️ MailBag ✉️

You ask questions, and I answer them. This week, the question is, "How often do you keep in touch with a past client?" - John M.

Oh, The Past Client Follow-Up.

Real estate tends to be extremely forward-focused, so a lot of agents let these "forgotten children of real estate" fall through the cracks a bit.

It's definitely a missed opportunity. These are people that we've worked with and that will be advocates and tell others about us.

I recommend following up with them no less than every 6 months. For me, I don't simply send a note, I buy past clients dinner or invite them to an event at least once a year.

❤️ PL

Casey Neistat and the Mansion in the Hollywood Hills | Backstage Pass | Vlog

In this vlog, which is the start of season 3, it’s all about Casey Neistat. As you know Casey is moving to LA and Jeff Landreville who is an agent at my company, PLG Estates, is a man obsessed with vlogging and with Casey.

We visit a mansion in the Hollywood Hills and chop it up talking biz and Casey and the plan that Jeff has hatched, which is magnificent!! If you want to see more of Jeff’s vlog go here and you will see Jeff’s full version of his vlog.

As always, thanks for being here ❤️ PL

How to Market Your Real Estate Business | MailBag | Q&A

✉️ MailBag ✉️

You ask questions, and I answer them.

This week, the question is, "As a new agent, how much marketing and promotion should I do to grow my business?" - Larry B.

When I was a new agent, I went all in with social media. I spent every last dime I had on social media marketing. Creating original content that shows who you are as a human being and a real estate agent. People run towards similar people (their tribe). People can't run towards you if they can't SEE you or know you. How much? When you're first starting out, everything but food and gas should be spent on your career.

50/50 rule: 50% of your time learning about your craft and 50% actually doing it.

Immerse yourself.

❤️PL


How To Improve Your Negotiation Skills - MailBag

✉️ MailBag ✉️

My weekly Magic Minute is taking a bit of a hiatus, and in its place, I'm doing MailBag: You ask questions, and I answer them.

For our first MailBag, the question is "What are your top tips to improve negotiations?" I freakin' love this question!

Here are my top 3:

👉 Always keep a cool head. When deals become adversarial, they fail.

👉 Always be transparent with your client. Even (especially) when it comes to bad news.

👉 Always make your clients interest the North Star of every deal. Do not worry about the commission or anything other than what's best for the client.

Ping me on IG or Twitter with your questions and I'll start chipping away at them here!

Thanks ❤️ PL

Luxury or Regular Real Estate: What's the Difference? | Magic Minute Season 3

Luxury or Regular Real Estate: What's the Difference?

There are some great analogs between luxury and regular real estate. I remember when I crossed the threshold to sell my first 5M house, I was incredibly intimidated. However, I quickly realized that even though it was a bigger and fancier home, it still had four walls, bedrooms, bathrooms, and a kitchen. And once I wrapped my head around that, I really got into it. Sure, there are plenty of differences, too. And you'll get to discover them all on your journey as an agent.

The Secret to ZERO Failures - Season Finale | Monday Mantra

This may be the most important Mantra I have ever done and its the season finale too!

This is not just a roadmap for business, its a roadmap for life. I will be covering the struggles from my UK roots, coming to America, Buddhism, The "Burning Bush" moment of clarity and many other milestones. BUT I will also be covering my experience with my spiritual guide, my spiritual herbalist, transcendental meditation. There may be points where you think "Whoa Pete has lost it" but I assure you its all spoken with the truest sincerity I can muster.

After a decade or more of practice and application the techniques talked about have culminated in I now have no failure and ultimate freedom. I know this one is out there for sure but its given to you with nothing but the heartfelt desire to show you what took me years to discover and that has utterly and unimaginably shaped my life infinitely for the better. Thanks for being watching and for being part of the rebellion.

L.O.V.E. PL

What Does FSBO Mean? | Magic Minute Season 3

What exactly does FSBO mean?? For Sale By Owner. This is a tricky part of real estate. Most FSBOs are people that don't, generally, like real estate agents or they just want to sell their house themselves.

If you're a real estate agent and you're looking for an angle, you can work this, but to be effective, you need to add value. If your strategy is just to walk up to them or call them and try to get their listings - it's going to be rough.

BUT, if you offer to bring them a buyer - the seller, most likely, will value your hard work and might even give you the listing. I've had this happen to me on multiple occasions.

Get creative and be patient.

Thanks for being part of the rebellion and for being here ️ ❤️ Pete

The Snapshot #101: Authenticity In Real Estate Marketing (HomeSnap Podcast)

I got into real estate investing in LA in the early 2000s. It occurred to me at the time that I was constantly being approached by my music industry friends. Almost by necessity, I got my license in order to serve those friends. I ended up with the nickname the "rock-and-roll realtor" because I helped a lot of people in the music business.

I had my creative crowd, and worked in a corporate environment. The corporate stuff didn't work for me, and I didn't like it. I was "ok" in both aspects, and miserable. I decided I had to do it my way.

So, I went all in with the creatives. My crowd knew me as the t-shirt, jeans, and glasses guy - not one of the hundreds of guys in suits. When I went all in with who I am, my client base skyrocketed. I spoked to people honestly and I treated my clients like family. I ended up being #1 KW agent in 2010 in LA, used that to springboard my own company, PLG.

I'd much rather appeal to a small group of people. I vibe with my creatives. I always say, "You have to have just the amount of crazy to work with me."

Hashtags. Use them. Geo-tags. Use them. IG Stories. Use, a lot.

Don't post for the competition, post to be creative. I put stuff out that I really like and really believe in.

What's the goal of all this? How do you decide whether it's all worth it? The truth is this: I've had multiple careers and the common thread running through all of them is -- if I'm excited to get out of bed in the morning and do it, it's right. When I'm planning my media for the week, I find it all incredibly enjoyable. I have a gut instinct that I MUST do this--I'm future-proofing my business and my brand for things to come.

Original Post Here

Using Content to Leverage Community | Pete Lorimer Mantra

The worst thing that can happen for your digital narrative--your brand--is this: waking up Monday morning and winging it. Your brand will suffer, and it will feel diluted and inauthentic. And worse, your audience will figure out that you're scrambling. You have to have a plan--or, specifically, a content calendar.

There's a lot of consolidation in the real estate world. And then, there's the rebellion--boutique real estate companies doing their own thing. Letting your company dictate your branding is the kiss of death. You have to take control of your own digital identity.

Here's how you can plan and leverage content for your community:

👉 There are certain influencers in your neighborhood. The new coffee shop, restaurant, boutique, etc. Find the most influential and newest establishments in your neighborhood.

👉 Go in and ask to do an interview with them. Most likely, they're going to jump at the chance for this free coverage/marketing. Follow-up with details (duration, process, etc).

👉 Make sure it's both informative and entertaining

👉 Here's what you're going to do with your interview:

You'll shoot it as a 16x9 piece, 👋 YouTube

Then, alter that piece for IGTV

Next, chop your YouTube piece into 1-minute videos for your IG feed

Take just the audio, turn it into a podcast

Take the podcast, turn into a written word article

You can easily create 5 more pieces from either the article, the audio, or the video.

👉 Now what? You've got 10 pieces of content. You're going to spread out those 10 pieces, and then hyper-locally target these pieces in your preferred zip code.

👉 You're going to have to stay consistent with this. Once a month, week, etc. It doesn't matter how often you just have to keep it up.

👉 When you create this content, you tag the establishment. Then, strike a deal with the business owner, "if you like the content, I'll give you original copies-- can you please push it out on your pages?"

Now, you've created content, added value to your audience and the establishment in the interview, and set yourself up as an authority on the area. 💥

What is the Best Time to Take Listing Photographs? - Magic Minute Season 3

I believe in putting everything you've got into everything you do. Trying to fit listing photos into a certain hour or two is a bit short-sighted. If I had to pick a time, I'd say noon.

I hire a photographer to come mid-afternoon and in the evening. Houses have different personalities depending on the time of the day.

Your sellers will love that you went the extra mile. Always be of service.

Thanks for being part of the rebellion and for being here ❤️ Pete

Keynote Speech - Detroit C21 Exclusive | Backstage Pass | Peter Lorimer Vlog

I love Detroit and recently headed to this snowy (while I was there) city in Michigan, where I had the honor of being a keynote speaker for an exclusive brokerage event. I spoke on the most powerful marketing engine today, social media, and how it's still being underutilized.

Whatever your tribe is, you can cater to it. Find what you're interested in, and consistently put out engaging and valuable content related to it. Make this a priority, not something you'll eventually "get to later."

Think about it - as a business, you have the privilege of connecting with others on a meaningful level ALL while increasing your numbers. Don't leave this on the table, friends.

Thanks for being part of the rebellion and for being here ❤️ Pete

Peter Lorimer’s Secrets to Property Success, From Photos to Software | Renting In America | USA Today

I was incredibly honored to be featured in the Future of Business and Tech, where I talked about a few of my favorite things: AirBnB, narratives, and efficiency.

I really enjoy - actually, I love - the personal nature that is AirBnB. But, in order for that to work, you have to create a narrative. What do you mean, Pete?!

By narrative I mean this: You need to tell a story. What kind of story does your short-term rental tell? Is it a block away from a downtown area with a bustling nightlife? Or is it a short car ride from a theme park?

I imagine those two AirBnBs will tell two different stories. Narrative.
I suggest, in order to tell a great story, hire professionals.

Thanks for being part of the rebellion and for being here ❤️ Pete

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Via JEFFREY SOMERS, Future of Business and Tech  editorial@mediaplanet.com,

NEWS The short-term rental industry is exploding. For real estate guru Peter Lorimer, success means rejecting shortcuts and leveraging technology.

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Few people know more about real estate and the short-term rental industry than Peter Lorimer. The real estate legend now co-hosts “Stay Here” on Netflix with Genevieve Gorder, helping the famed interior designer transform drab Airbnb rentals into spectacular getaways.

“I think my favorite part of “Stay Here” is being able to immerse myself into the cultures of cities,” says Lorimer. “Which I think is the essence of Airbnb—we want to live like a local. It’s incredibly personal.”

Secrets to success

Lorimer has seen it all, and he has a simple recipe for short-term success.

“A word that I like to use in the show quite a lot is ‛narratives,’” he says. “Know what the story of the property is. Hire a professional photographer to capture the narrative. Thanks to technology, traditional real estate and short-term rentals have turned into real estate Tinder—please, please hire a professional cleaning crew!”

Technology also offers huge opportunities for landlords. “As a real estate professional, I’m all about ‛how can I utilize an hour?’” Lorimer points out. “Nothing replaces the personal touch, and if I’m knee-deep in paperwork, then I’m probably not going to be the most vibrant host that I could be. So if you can afford it—and really, you can’t afford not to—get Property Management Software (PMS) to streamline the day-to-day aspects.”

In addition to PMS, Lorimer stresses the importance of insurance. “Having insurance as a landlord is absolutely paramount—be very clear you’ll be using the insurance for an Airbnb, and get an umbrella policy. For renters, insurance adds an extra layer of comfort.”

Advice for newbies

For new landlords, Lorimer believes knowledge is power. “Data drives everything. Know your niche, who you’re going for.” He also believes in getting your hands dirty. “I’m a great believer in apprenticeships, and in getting things wrong so you know how to get them right. Do everything except the cleaning and the photography. Hands on is how you learn.”

It all comes back to that personal touch. “There are no shortcuts—clients will notice, and it will affect your ROI,” Lorimer warns. “Treat your guests like extended family or long-lost friend. That’s what they’re looking for, that’s what this industry was founded on.”

For Original Article Click HERE

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'Stay Here' Co-Host Peter Lorimer on the Netflix Home-Renovation Hit

I recently spoke with TV insider about some behind-the-scenes details of Stay Here and my tips and tricks associated with owning and operating an AirBnB. Our conversation ran the gamut--from how we chose the property owners down to working with the amazing Genevieve Gorder.

Written by Scott Fishman, TV Insider. For original article click HERE.

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Since Netflix’s series Stay Here dropped in August, co-host Peter Lorimer has gotten feedback from short-term rental owners who have applied tips from the show and turned their own struggling properties into profitable ventures.

The streaming service’s new foray into home reno sees the music producer-turned-entrepreneur and real-estate expert hitting the road with interior designer Genevieve Gorder to transform unique listings across the United States.

Here, the Brit transplant answers burning questions from filming the show and gives insight into taking advantage of the bustling Airbnb business.

Tell me about some of the success stories you’ve heard.

Peter Lorimer: There have been a lot of people reaching out saying similar stories to this: “Thank you so much. You’ve given me and my husband to get off our derriere and do the work. We’ve turned our potting shed into a small little Airbnb guest unit now, and we’re making x amount now. Thank you so much.”

I’ve got hundreds of those. The other one I get hit with every single day is: “Thank you so much for sharing all the secrets of the business through these tips because it was such a mystery to us. And in the end, you broke it down in a really digestible way."

People are taking those principles and applying it to their businesses and getting a return on their investments. So, "happy day," as they say in England.

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How did you go about choosing the properties throughout the United States? What criteria had to be met in choosing the ones we see on the series?

We spent three or four months going through loads and loads of properties. We had a ton of properties and a short list of, we’ll say 40 around the United States.

Through those we whittled them down to the eight that made the show. The criteria were the stories all had to be one-thousand-percent genuine. This doesn’t make them bad shows, but there are ones that are kind of helped along. Our show, everything was completely raw. We wanted to show genuine stories with the people in them, which is why I think a lot of them were so touching. Case in point was the people in Seattle. That wasn’t actually the first episode we shot. It just ended up being the lead on the series, because I think the story was so strong.

All of the people that owned the properties had to put significant money in. It wasn’t like the TV company came in and paid for everything at all. And in the case of at least half of them, it was touch-and-go. If it had gone horribly wrong, it would have been pretty catastrophic for them. Thankfully, everybody we worked with after we finished have gone severely into profit. Thank goodness for that.

That is the common misconception, that the production just went in there spending all this money. They basically have to go all in to make this work.

I think that was one of the most important ingredients of the show. If someone is getting their house completely renovated for free, there isn’t any fear. For some of these homeowners, it’s like when the circus comes to town. We come on a Monday and leave on a Friday. All of this work, and renovation and hammer-swinging, chainsaws go through their property. Then we are done on a Friday. Obviously, there is weeks of planning, so when we do roll up, we knew exactly what was going to happen.

With Gordy (Episode Four: Brooklyn Brownstone), you watch him in the beginning of the episode closely. He was kind of cagey and guarded. He was like, “What the heck is going on? I’m not sure if you need to do this.” Then, at the end of the episode his shoulders drop, he realizes we are going to deliver, and he essentially breathes a sigh of relief, because if things had gone wrong, that would have been famously catastrophic for him.

I think what is also great about the show is that you’re not only, “Hey, go somewhere else for a few days and come back to a new place.” These owners are heavily involved in the process.

Someone gave me a phrase a long time ago. They said to me, "When it comes to business, food always tastes better with friends." So, when it’s a collaborative effort. When everyone has their thumbprint on this business, because that is essentially what this is. It is a small, independent business that may be an extension of one person’s personal home or an investment property. It is a small micro-hotel where they are the GM of their own small business.

I think it’s not only the right thing to do, but I think it would be unnatural to just kind of send them away and bring them back for the reveal. We wanted them to see what we were doing every step of the way so that not only the owners of the property could see it, but also our audience can go on that journey with them.

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You mention all the owners are making a profit, but are there any plans to do a “Where are they now?” check-in with these folks?

It is the very same question I asked before we started the series. I think that the producers, George and Will, who I love, what they wanted to do for Season 2, which isn’t confirmed yet — but we are all crossing our fingers and toes on it — we would potentially begin Season 2 with a “What Happened in Season 1?”

The viewers got to see you and Genevieve immerse yourself in these settings. Like you going to New York for the first time and seeing the Biggie Smalls mural and how much that meant to you. What was it like working together as you journeyed across the country?

I got very lucky with Genevieve, because she is a veteran of television. She was very kind and sweet. Obviously, she knows her stuff inside and out. She is extraordinarily talented. Moreover, she was a really good mate to be on the road with. After we finished, we’d hang out off the set.

We couldn’t be more different. Genevieve comes from this design and very Americana world. I come from the world of house music and business and ROI and short-term rentals for a lot of celebrity clients here in L.A. We were essentially worlds apart, but I think my yin complimented her yang. I think that is why the chemistry was so great and why it worked.

If there is a Season 2, what are some places you want to go or see as a market of untapped potential? Would you want to take the show international?

Netflix, as you know, we love them, but they haven’t told us what their intentions are. We have spoken about an international season, which I feel is a no-brainer.

On a personal level, I would like to go to some markets that have emerged, but they aren’t fully at the top of the profit margin yet. Places like Nicaragua. There is some room left in Bali.

There are lots of areas of Europe now that could make it a potentially a good buy because Europe is suffering from the whole Brexit thing. It’s sending shockwaves through a lot of European markets, but I firmly believe in the real investor that when the market is in a bit of a spiral. You wait for it to drop.

I think one of the worst mistakes one can make is waiting to find the bottom. No successful investor I’ve worked with has bought right from the bottom and sold right at the top. You buy when it has gone down enough, and you believe the elevator will go back up past the point you bought significantly.

I feel a lot of Europe is like that right now, because I think Brexit will ultimately at some point get repealed, or/and Europe will stabilize again, thus the market would begin to rally. At that point you’ve bought a great investment. You can charge great rents that will put you significantly into profit.

Stay Here is streaming now on Netflix


The Art of Work-Life Balance Part 2 | Pete Lorimer Mantra

It's time for PART 2 of The Art of Work-Life Balance 👏

So many entrepreneurial mentors will tell you the "deal" or the "money" is what you should strive for. I'm an entrepreneur, and I don't necessarily subscribe to this idea.

What drives me is not money. I'm in business to improve my life, not just my bank balance. I know I need time to decompress and spend time with my family. That makes me a better worker.

👉Calendaring

I don't just calendar our work life. I also calendar our personal life. Dinner, family time - everything is mapped out and goes into the calendar. The most important things in the calendar never get moved. Make sure you calendar your personal time and make it immovable. I used to feel guilty when I had free time. Do you feel that way? Book something else in. Fill your free time with something productive and worthwhile.

👉Banking Hours

I bank my hours. Example: If I get started at work early, I can bank time for later. Tip: multi-task. A personal example - I needed to work out and my son wanted some "boy time", so I went on a hike with my boy.

👉Know Your Value Per Hour

Cindy and I made the decision (best decision we ever made). We hired a housekeeper. We also have someone wash our cars. And I now have someone come to the house and cut mine and my son's hair. It might seem like a lot, but I save so much cumulative time by doing these things.

"I will have a life when I retire" NOPE. Not me. I want to spend quality time NOW. It's just as important as work time. And it can especially work if we bank hours by getting to work earlier sometimes.

I believe you can have your cake and eat it, too. I want to enrich my life by working with people I love and adore, and spending time with my family that I love and adore.

At the end of the day, I'm not gonna want 1 million dollars, I'm going to want time with my family.

One fuels the other. Life is short.

Life is really short.

Thank you for being here,

 ❤️ PL

How Do I Make a Small House Look Bigger? - Magic Minute Season 3

How do you make a small house look bigger? It generally comes down to two things... color and clutter.

👉 Color: If you're in a house with non-neutral walls, especially if it's under 1000 square feet, paint it all white. I paint everything Swiss Coffee (my favorite white), the ceilings white, and the woodwork white semigloss.

👉 Clutter: Get rid of the spare clutter, the photos, the extra junk. Stick it all in the garage.

Do these things and you'll make the house like bright, airy, and bigger!

Thanks for being part of the rebellion and for being here ❤️ Pete.

Should I Get a Home Warranty? - Magic Minute Season 3

Home warranties... What are they? What do they include? Should I have one? Look at a warranty like an insurance policy, meaning it can include as little or as much as you want. A basic warranty plan covers things like electrical and some plumbing, bolster it and you could also get the roof and/or foundation covered. Go even further and you can get your appliances and air conditioner included.

Case in point: I recently purchased a home and included everything and the kitchen sink in my home warranty. When the air conditioner quit working and we needed a new one, it cost me $50.

Real estate agents, add on as much as you can to the buyer's warranty!

Thanks for being part of the rebellion and for being here! ❤️ Pete

What are Special Assessments? - Magic Minute Season 3

What are special assessments? They may not be the sexiest part of real estate, but we have to know it all, friends!

Generally speaking, this situation comes up in a condo building, when the HOA doesn't have enough money in the reserves to complete repairs. You have to have enough money in the reserves to cover repairs, OR the special assessment gets passed to the condo owner.

Example: If your condo building needs a new roof, and there's not enough in the reserves, you have to pay for it!

My rule of thumb for HOA reserves can help out here. I recommend 25K per unit. Check out my HOA reserves video for more info!

Thanks for being part of the rebellion and for being here ❤️ Pete

What are Contingencies? - Magic Minute - Season 3

What are contingencies? Title, disclosures, inspections... just to a name a few.

Contingencies are the line in the sand of all real estate transactions. Think of them as a protective layer in the deal. If you're a buyer, what does it mean to remove them? Well, tbh, it can be scary. (😱)

Why? Because, once those contingencies are removed and the buyer doesn't go through with the deal, the seller can (and very well might) go after that deposit.

If you are a buyer's agent, make sure you double/triple/quadruple check all the paperwork relating to the contingencies. Because once they're gone 💨 goes that deposit (possibly).

Thanks for being part of the rebellion and for being here ❤️ Pete

Speaking at Gary Vee's Agent 2021 / Pete Lorimer Vlog

I recently attended and spoke at Gary Vee's Agent2021 conference in Miami. Now, I try to make it to several conferences a year--and this one was different. And I'm not just saying that because I sat on the stage.

After waking up at 2 am (😴) and making my way to Miami, I was full of adrenaline and excitement. The conference took place at the Dolphin Stadium in Miami-- where Gary, his business partner Matt Higgins (you may recognize him from Shark Tank), myself and some amazing professionals in this industry during the day took the stage.

The whole deal was about personal branding, real estate, and social media. I got the chance to chat with some fellow real estate pros and give them my two cents. I made copious notes and have been and will continue to share them with you all.

Friends, taking time out of your crazy schedule to make it to some conferences like this is HUGE. You HAVE to invest in yourself and your professional development if you want to take this seriously.

Thanks for being part of the rebellion and for being here ❤️ Pete

Got Toxic Clients? - Magic Minute - Season 3

Real estate agents (and other professionals!), we've all been there.

Toxic clients.

Those clients, that, when the phone rings, you get that unpleasant feeling in your belly. What do we do?! Here's how I handle it. I give it two weeks. If, after two weeks, the client and I still aren't jiving, I let 'em go. It can be hard, but let me tell you, getting rid of clients that suck the life out of you frees you up to do good work for others!

Have any of you dealt with this before? Hit me in the comments.

Thanks for being here ❤️ Pete