What’s HOT and What’s NOT in Luxury Real Estate | Luxury Code

The Tom Ferry Podcast Experience

Tom Ferry

Education, Business, Self-improvement

4.7 • 1.1K Ratings

🗓️ 2 June 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you don’t know Tim Smith, you should. He’s one of my personal clients serving the whole Coastal Orange County area, brought in over $803,000,000 in volume last year, AND he’s speaking at Summit this August. The guy is on FIRE, so he clearly knows a thing or two about what’s hot and what’s not in luxury real estate today. I sat down with Tim to talk about the state of the market, how to educate your clients to the fact that it’s the best time ever to buy, and where you should be focusing your energy. If you want to know about luxury, growing your volume, or being the best version of yourself, watch or listen to this episode, and then make sure you get a chance to see Tim at Summit in Dallas.

Transcript

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0:00.0	Hey, welcome back to Luxury Code, where we decode with the very best statements you're
0:06.8	doing in the luxury market so you can take those tools, take those strategies, implement
0:11.2	in your business, and ultimately get better results.
0:14.1	And nobody better to help us than the Tim Smith, Cole Banker, Newport Coast, Newport Coast,
0:19.2	Newport Beach, Southern California.
0:21.2	How are you, Tim?
0:22.2	I'm doing well.
0:23.2	Thanks for having me today.
0:24.2	Let's move that one up just a tad.
0:25.2	Tim, I wrote down a bunch of questions.
0:28.2	You know, as you look at globally what's happening around the world, there's some uncertain.
0:32.0	Even though the data says we're going to sell 6.3 million houses this year, and the luxury
0:36.9	market seems to be performing well compared to many other sectors, what is your broad sense
0:42.2	of what's happening with luxury real estate today?
0:44.9	So I'm going to talk specifically about Orange County because if you give a little framework
0:50.0	or context for my 22-year career in residential real estate, the first 20, I really had to
0:57.3	sell Orange County.
0:58.3	Yes.
0:59.3	And what I mean by that is, it's a major metropolitan area that I come back to, and I think why
1:04.3	do not more people not want to live here?
1:07.1	But we just didn't get the demand until COVID, and I don't know exactly what it is.
1:11.7	We can unpack that, but it has a lot to do with people not having to work from offices
	...

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