Pricing a luxury home to sell in a buyer’s market can be one of the most challenging experiences of a luxury real estate marketing professional. It is tempting to get swept away by the allure of listing glamorous properties, those estates with the highest price tags. Sure, when they sell the commissions can be significant.

We have identified the phenomenon of “complacency” as is one of the potential vulnerabilities of market leaders who have outdistanced their closest competitors by a considerable margin. There is tendency to coast on their momentum instead of continuously reinvest in staying sharp.

The advantage to being top of mind, as a luxury real estate marketing professional, in your marketplace is getting the lion’s share of the business. There is also a secret advantage of being the popular choice.

If you need a mental boost and a new perspective on your luxury real estate marketing practice, here is a tip for you. Get the idea that you are a man or woman living in China and you are granted the wish of stepping into YOUR life, taking over YOUR exact set of circumstances including your business. See YOUR life from their perspective with fresh, appreciative eyes. Wouldn’t you jump at the opportunity of getting to be YOU?

Keeping up with the speed of change in technology, as a luxury real estate marketing professional, can be a daunting task. But, to some extent, it has become an imperative to stay competitive. For example, new entrants in the luxury real estate field, such as tech savvy executives from corporate America, offer a new challenge to complacent incumbent market leaders who have not adapted rapidly enough to the new rules.

Differentiating yourself from others in your area who specialize in marketing luxury real estate comes down to adding value in your service that your competition does not. Here is an example of added value that differentiates the Ritz Carlton Dallas from all the other luxury hotels in that city.

Contrarian thinking is one of the factors that separate market leaders from the rest of the pack. For luxury real estate marketing professionals who wish to dominate an underserved market niche, here is an example of a billion dollar company that has done just that by thinking differently.