Latest / The Future of Luxury Podcast with Dr Daniel Langer / #7 Julie Faupel, Founder & CEO REALM and Shelton Wilder Founder Shelton Wilder Group

Transcript

#7 Julie Faupel, Founder & CEO REALM and Shelton Wilder Founder Shelton Wilder Group · The Future of Luxury Podcast with Dr Daniel Langer

• 0:02
  [Music]
• 0:08
  So, welcome to a new episode of the
• 0:10
  future of luxury um podcast. And um
• 0:13
  today we have uh we in for a treat. Um
• 0:17
  we are first of all we are in a pretty
• 0:20
  spectacular home. Um I learned today uh
• 0:23
  it's on the market for how much right
• 0:25
  now?
• 0:25
  >> 45 45 million.
• 0:27
  >> For $45 million. Mhm.
• 0:30
  >> Um, and it's about 20,000 square ft.
• 0:33
  >> Over 21,000 square ft. Yes.
• 0:36
  >> Um, and I just had the chance to do a
• 0:38
  walk through and it's actually pretty
• 0:40
  pretty spectacular. There's practically
• 0:42
  nothing you cannot you can imagine that
• 0:44
  is not in this in this place. Um,
• 0:46
  >> has it all
• 0:47
  >> has it all. Exactly. But we're not only
• 0:50
  in for a treat because of that, but we
• 0:52
  have two phenomenal guests here. Um, to
• 0:55
  my left is Shelton Wilder. Did I
• 0:58
  pronounce it right? Wilder
• 0:59
  >> Welder Shelton Welder
• 1:02
  >> from the Shelton Welder group. Um she
• 1:04
  works with Christy's international um um
• 1:06
  real estate. And then to my right is
• 1:09
  Julie Fel. Um and Julie and I have been
• 1:12
  working together in the meantime almost
• 1:14
  two years.
• 1:14
  >> Yeah, it gets time flies. Um and Julie
• 1:18
  is the founder and CEO of Realm. Um and
• 1:21
  Realm is a really phenomenal
• 1:24
  organization um that basically brings
• 1:27
  all the leading real estate
• 1:28
  professionals in the world together.
• 1:30
  >> Um and so we talk today we will talk
• 1:33
  probably about real estate but actually
• 1:35
  maybe we start with something else
• 1:36
  because I just discovered that you are
• 1:38
  one of the few that has a original labu.
• 1:42
  >> I have one. Jessica, you want to bring
• 1:44
  it over? We got to make sure you see
• 1:46
  mine. Yes. We have the key to the $45
• 1:50
  million listing on my Leubu and my
• 1:53
  Chanel. I have the the jumbo Chanel, but
• 1:57
  nobody could care less about that cuz I
• 2:00
  have
• 2:02
  my
• 2:04
  Leubu right here.
• 2:08
  >> There she is.
• 2:10
  >> Fantastic.
• 2:10
  >> You can see. And it's a real one. And we
• 2:13
  even registered it. And this is how you
• 2:15
  know if it's real. If it has like the
• 2:17
  >> Oh, the QR code.
• 2:18
  >> The QR code. Yeah. I'm giving What?
• 2:20
  You'll be getting your own. I I found a
• 2:23
  black market to get them. And I closed a
• 2:27
  deal with a real estate agent and this
• 2:29
  is what she gave me.
• 2:30
  >> Oh, fantastic.
• 2:31
  >> That's her closing gift to me.
• 2:32
  >> Cool thing.
• 2:33
  >> She's the so darling. Yeah,
• 2:35
  >> that's cool. That's
• 2:37
  >> cool. Yeah. So, we worked together on
• 2:39
  this deal and I, you know, it was
• 2:42
  perfect and she brought it to me and I
• 2:44
  was able to unbox it and it was very
• 2:46
  fun.
• 2:46
  >> Yeah.
• 2:48
  >> And I find I find the labus are
• 2:50
  fascinating. Um I was just sharing a
• 2:52
  little bit earlier that um I was made
• 2:54
  aware um a few months ago about labus
• 2:58
  practically before almost anyone was
• 2:59
  talking about them uh and my daughter
• 3:01
  sent me some kind of uh
• 3:04
  >> um Tik Tok intel um and was saying yeah
• 3:06
  you should write an article about that
• 3:08
  >> and um this was basically when the whole
• 3:11
  trend um emerged and it's quite
• 3:13
  fascinating to see how fast um something
• 3:17
  can get viral in today's world and
• 3:20
  relevant in today's world and thought
• 3:22
  after which maybe you know a year ago
• 3:24
  two years ago no one would take notice.
• 3:26
  No
• 3:26
  >> and um and now it's something that um
• 3:29
  that everyone wants to have. And I I
• 3:31
  also found interesting that when we met
• 3:33
  when you said this is an this is an
• 3:35
  original one because I was just I was
• 3:38
  just on a on a short vacation and I've
• 3:41
  seen um I've been in several countries
• 3:43
  all over Europe and I've seen almost
• 3:45
  everywhere fake labus.
• 3:46
  >> Fake fake labus. Yeah. I was just in
• 3:48
  London and they're every down every
• 3:49
  street corner. They're all the fake
• 3:51
  ones. Really?
• 3:52
  >> Yes. And you can't have it. You have to
• 3:54
  get the real one that are registered and
• 3:57
  then they have the nine
• 3:59
  >> they have the nine teeth. And then also
• 4:02
  I want to let you know that Jessica, who
• 4:05
  is my assistant that's 23, put it on her
• 4:07
  story, you know that that I got one and
• 4:10
  she goes, "Oh, she's not a real Lebu
• 4:12
  fan." Because she's a fake one cuz she
• 4:14
  doesn't even have clothes for it yet. So
• 4:17
  they have their own clothes and their
• 4:18
  own handbags. It's
• 4:20
  >> so I I'm a loser because I need to go
• 4:23
  get its own clothes.
• 4:24
  >> Right. But Shelton, that statement
• 4:26
  though. Okay. So you are on you're
• 4:28
  you've got a beautiful Chanel um jumbo
• 4:31
  bag, right? Which is kind of the that is
• 4:33
  one of the cornerstones of luxury. Yes.
• 4:36
  Right. Where where the pink one. Yeah.
• 4:37
  Right. and and you know and I I know you
• 4:40
  you are a connoisseur of fashion. Yes.
• 4:42
  But then what we are talking about is
• 4:46
  kind of the next iteration of like what
• 4:49
  what people want and what people covet
• 4:51
  and it's not necessarily kind of what
• 4:54
  the stayed definition is. So I think
• 4:56
  that that's just really interesting.
• 4:58
  >> Yeah. It's fascinating that um I've I've
• 5:00
  seen in the last couple of months
• 5:02
  practically all luxury brands are
• 5:04
  bringing charms out.
• 5:05
  >> They're bringing out the charms. And so
• 5:06
  it's fascinating that now in a sense the
• 5:08
  brands are starting to copy
• 5:10
  >> um such a um such a cultural phenomenon.
• 5:14
  >> Yes. I think that um I don't think it's
• 5:16
  Hermes. I think it's Louis Vuitton has
• 5:18
  its own labu charm for the bags coming
• 5:21
  out. Thousands of dollars. Yes.
• 5:25
  >> So it is it's a phenomena and yeah it's
• 5:29
  fun to be in the loop.
• 5:30
  >> Well it is. And you can't ever choose,
• 5:33
  you know, like what the next definition
• 5:34
  of luxury is going to be. Like that's
• 5:37
  and so we have to I think as all of us
• 5:39
  as we're purveyors of luxury or advisers
• 5:42
  of luxury or servicesers of um of luxury
• 5:45
  clientele, we have to stay in, you know,
• 5:47
  like it sometimes defies logic a little
• 5:51
  bit.
• 5:51
  >> Yeah.
• 5:51
  >> Yes. A little a little furry bear
• 5:54
  >> or furry little little whatever it is.
• 5:59
  And Yeah. But it has to have the tag on,
• 6:01
  too.
• 6:01
  >> Okay.
• 6:02
  >> Yeah, you have to keep the tag on.
• 6:04
  >> Okay.
• 6:05
  >> Yes. Yes. I know. But that's why we
• 6:08
  we're talking about luxury and staying
• 6:09
  ahead of the game and we're in a $45
• 6:11
  million listing. And so I think with the
• 6:15
  social media aspect, you your daughter
• 6:17
  found how old your daughter?
• 6:18
  >> She's 22.
• 6:20
  >> 22. She found out about it from Tik Tok.
• 6:22
  And we're all finding out about so many
• 6:24
  different things from Tik Tok or
• 6:26
  Instagram and the reals. And I I think
• 6:28
  that's how we have to stay ahead of the
• 6:30
  game. And that's why it's that's been so
• 6:32
  important for my business and how I've
• 6:35
  been relevant and been able to grow in
• 6:37
  real estate is because of social media
• 6:39
  because you just kind of have to play
• 6:43
  the game. You have to be involved and
• 6:44
  see what people care about
• 6:46
  >> as well. Like that this is luxury and it
• 6:50
  doesn't have to be expensive. So
• 6:51
  >> 100%. You know, I I used the um I used a
• 6:54
  couple of years ago this term extreme
• 6:56
  value creation. And I really love this
• 6:58
  term because to me it's it's the best
• 7:00
  it's kind of the best description also
• 7:02
  for this phenomenon because um you know
• 7:04
  what is value for someone may be
• 7:08
  completely different than value for
• 7:09
  someone else. And if someone never heard
• 7:11
  about labu then in a sense it's just a
• 7:14
  dolly.
• 7:14
  >> Yes. Um and if someone knows about it
• 7:17
  then it starts to um you know change the
• 7:19
  relevance um completely and so it's
• 7:21
  really in the eye of the beholder and
• 7:24
  interestingly um there are certain
• 7:27
  sometimes objects like this wonderful
• 7:29
  mansion or um or the labubu that um that
• 7:33
  is able to create this value in extreme
• 7:36
  fashion. I would have been, you know, so
• 7:38
  I would have been like if if it was six
• 7:41
  months ago before you told me about
• 7:42
  Labou, I would have been like, why does
• 7:44
  Shelton Wilder have this,
• 7:46
  >> what is wrong with her?
• 7:47
  >> Funny little stuffed animal on her
• 7:49
  beautiful Chanel bag. And now,
• 7:52
  >> is she okay?
• 7:52
  >> And now I really want one. And so now
• 7:55
  you're getting one. You're both getting
• 7:57
  one. But then today I had my bag out and
• 8:00
  I just got it yesterday and my
• 8:02
  11-year-old son was like, "Mom, what is
• 8:05
  on your bag?" He's like, "Oh, no, no."
• 8:08
  But he cares about lacrosse, you know,
• 8:10
  he doesn't care about a bag charm. So,
• 8:13
  it's just interesting. Yeah. What's it
• 8:15
  what's your what's your
• 8:16
  >> the extreme extreme value?
• 8:18
  >> There it is.
• 8:19
  >> In in action. Yeah. For for some people
• 8:21
  it's value
• 8:22
  >> and for someone else it means nothing.
• 8:24
  >> Yes. And and I think that's that's
• 8:26
  that's also a very good kind of segue
• 8:29
  for for our discussion because also you
• 8:32
  know we were discussing if if we have
• 8:34
  let's say a place like this one um this
• 8:37
  for sure will appeal for to someone.
• 8:39
  >> Yes.
• 8:40
  >> And there will be other people who will
• 8:42
  not like it. Maybe it's too modern,
• 8:44
  maybe it's not big enough, maybe it's
• 8:45
  too big. Um who knows? There will be um
• 8:48
  so not every not everything has the same
• 8:51
  appeal to everyone.
• 8:52
  >> Exactly.
• 8:53
  >> Um and um
• 8:55
  It was interesting. We had we had
• 8:56
  earlier today we were um at the Rosewood
• 8:59
  residences and had another um podcast
• 9:02
  conversation there and there it's all I
• 9:05
  don't want to say that it's all about
• 9:07
  small because the size is also pretty
• 9:09
  enormous of the um of the condos that
• 9:11
  are in there. But definitely compared to
• 9:14
  a place like this, it's a completely
• 9:16
  diff has a completely different feel or
• 9:17
  so. But we also learned that um it's
• 9:20
  very attractive for some people and that
• 9:22
  also the the price points are also
• 9:24
  extremely elevated very much in that
• 9:27
  place. Um so you know for someone it's
• 9:30
  this 21,000 plus
• 9:32
  >> square feet and for someone else is
• 9:34
  maybe something completely different
• 9:36
  that that is relevant.
• 9:37
  >> Exactly. And that's why there's so many
• 9:40
  great options.
• 9:42
  >> I I know we're always available to show
• 9:44
  you whatever you'd like to see.
• 9:46
  Well, with a house like this though,
• 9:47
  Shelton, when you're um when you're
• 9:50
  marketing it or you're bringing it to um
• 9:52
  I mean, you're creating a dialogue
• 9:54
  >> Yes. with the marketplace and and in a
• 9:57
  in an environment where we've
• 9:58
  historically been very much a monologue
• 10:00
  where it's like here's we're going to
• 10:02
  advertise in you know this publication
• 10:04
  or we're going to create a web
• 10:06
  >> and what you've done is create a
• 10:09
  situation where the consumer can come to
• 10:11
  you you know I mean they they see you
• 10:13
  they follow you they engage with you
• 10:16
  right but it's different and then
• 10:19
  >> you know but then you've also got kind
• 10:20
  of this a house like this that is going
• 10:22
  to be this is a generation generational
• 10:25
  play.
• 10:25
  >> Yes. Yes. This is very elevated.
• 10:27
  >> Talk a little bit about how that how you
• 10:28
  engage, you know, prospective buyers and
• 10:31
  the marketplace as a whole.
• 10:33
  >> Oh, yes. Well, I think the marketplace
• 10:36
  as a whole, it's
• 10:39
  it's it's so you get a you get a
• 10:42
  beautiful home like this and
• 10:45
  it kind of depends on which buy like the
• 10:47
  buyers that are reaching out. You you
• 10:49
  put it out there in all these different
• 10:51
  ways. You have like the luxury video,
• 10:54
  then you have some fun videos, and then
• 10:56
  it depends on which buyers kind of
• 10:58
  coming to the home, how you're going to
• 11:03
  describe the home and showcase them.
• 11:04
  Obviously, it needs to be perfect. The
• 11:06
  staging is immaculate. There is over
• 11:08
  $500,000 worth of art that is staged
• 11:11
  here, which is very special and unique
• 11:13
  >> in the in this home because it is a
• 11:16
  >> this is not someone's home that built
• 11:17
  for themselves. This is a speck home.
• 11:19
  And so it needed to feel very warm and
• 11:21
  also very curated.
• 11:23
  >> And so and it's just when we've had the
• 11:25
  different buyers come, some have come
• 11:28
  that have seen it that maybe lost their
• 11:30
  home from what just happened.
• 11:32
  >> Yeah. And then also people moving, some
• 11:35
  people are moving from Beverly Hills and
• 11:38
  want to be more on the west side closer
• 11:41
  to the beach. So that's also here. And
• 11:44
  so it's just you kind of curate the
• 11:47
  showings per the buyers. Yeah.
• 11:50
  >> Yeah. Of what seems like they would what
• 11:54
  they would care about the most. Some
• 11:55
  people you would find out like that they
• 11:57
  there's a pickle ball court. So you
• 11:58
  would want to really showcase that. So
• 12:01
  that's why we kind of did the the photo
• 12:02
  shoot too to kind of show like everybody
• 12:06
  in the different looks and different
• 12:08
  outfits too because I think that fashion
• 12:10
  and style and art go together with
• 12:14
  luxury in the homes too. So I think that
• 12:17
  showing that is
• 12:19
  >> very relevant right now.
• 12:21
  >> So it's been very fun. Yeah,
• 12:24
  >> exactly.
• 12:24
  >> I think you know we we started we
• 12:26
  started with labus and also I also um um
• 12:30
  recall when we were doing the
• 12:31
  walkthrough through the house and Julie
• 12:33
  asked you also how your how your
• 12:35
  customers are finding you. You were
• 12:36
  saying um a lot through social media
• 12:38
  >> through social media
• 12:39
  >> and I love that because I did I did um
• 12:41
  recently a podcast in Shanghai. I spoke
• 12:44
  with two social media um experts and
• 12:47
  social selling experts and uh one was
• 12:50
  actually saying something that really um
• 12:53
  that made me really po reflect and pause
• 12:55
  and he said that he said two things. A
• 12:57
  he said a lot of brands
• 12:59
  >> and if I say brands now in in your
• 13:02
  context it would be maybe let's other
• 13:04
  real estate agents um but you know we
• 13:06
  can even speak broader about brands he
• 13:08
  said most brands today don't speak the
• 13:10
  language of the customers anymore
• 13:13
  >> and he said this is for him the most the
• 13:14
  the number one challenge and then the
• 13:16
  second thing is that he said in his own
• 13:19
  life the thing that interests him most
• 13:20
  is social media.
• 13:21
  >> Yes. And um it's fascinating and I have
• 13:23
  actually taken that that short episode
• 13:26
  and in a few presentations I was just uh
• 13:29
  on the weekend in Dallas on stage and
• 13:31
  used basically like a one or two minute
• 13:33
  clip out of it and also to wake up the
• 13:36
  audience that we that we are in
• 13:38
  different with different times. So maybe
• 13:40
  tell me a little bit about um about that
• 13:42
  how people find you and the importance
• 13:44
  in your point of your social media
• 13:46
  today.
• 13:46
  >> Yes. Well, thank you. That is I would
• 13:49
  say what I've been in the forefront of
• 13:52
  is the social media and I started I my
• 13:55
  name is Shelton Wilder. So, I really use
• 13:57
  my last name. It is not my married name.
• 14:00
  I told my husband, sorry, I have a great
• 14:02
  name. I can't change my name. I'm
• 14:04
  keeping it. He's like, "No problem."
• 14:05
  Because McCutchen doesn't have the same
• 14:07
  ring. So, and so I started eight and a
• 14:10
  half years ago Wilder Wednesdays and
• 14:13
  it's my weekly video that I put out and
• 14:17
  I I started with a little Ring camera on
• 14:21
  my phone eight and a half years ago and
• 14:23
  I just pressed play and I was like, "Hi,
• 14:26
  I'm Shelton Wilder and I'm going to do a
• 14:28
  weekly video." And it was terrible. It
• 14:30
  doesn't matter. I still said I was going
• 14:32
  to do it and I've stayed consistent for
• 14:34
  eight and a half years and it's evolved
• 14:36
  over time and it's so much fun and all
• 14:38
  different things and I highlight people
• 14:39
  and I think that that's my big gift. My
• 14:42
  biggest gift is wanting to connect
• 14:45
  people and highlight people and I love
• 14:47
  people. And so I think that that's how
• 14:50
  my Instagram has been able to grow is
• 14:53
  because I love talking to others. And so
• 14:56
  yeah, it's it's very special and fun.
• 14:58
  And obviously we do it with the homes
• 15:00
  and we do a lot of funny videos. I mean
• 15:02
  I had one that went very viral. It had
• 15:05
  2.6 million views and I got a lot of but
• 15:08
  it was really just me looking insane. It
• 15:11
  was like this filter. Anyway, I looked
• 15:14
  it then where I looked like a man and
• 15:16
  and and you're like, "Oh my gosh." And
• 15:18
  then you like rewatch it cuz you're
• 15:20
  like, "This is, is she okay?" You're
• 15:22
  like, "Yeah." No, I just I I like to
• 15:24
  make fun of myself. I I don't take
• 15:26
  myself very seriously, which is very
• 15:28
  different for luxury because a lot of
• 15:29
  people in luxury really take themselves
• 15:32
  very seriously. But I think that you can
• 15:35
  dress up and be elevated, but then also
• 15:38
  have fun and not and and make people
• 15:41
  feel comfortable, you know, and and it's
• 15:43
  and it's way more approachable. I'm very
• 15:45
  approachable versus it being so like,
• 15:48
  oh, I don't want to call her because
• 15:50
  clients can go from buying a condo to
• 15:53
  buying a house, then selling their
• 15:56
  company to buying this house. So, so I
• 15:58
  want to be involved in our clients lives
• 16:00
  and and that way I don't know, it's just
• 16:04
  like a lot of a lot of fun. But
• 16:05
  consistency has been my main key
• 16:08
  >> to my success, I feel like. And I mean,
• 16:10
  we have I have around 47,000 followers,
• 16:12
  but they're engaged real followers that
• 16:15
  are, you know,
• 16:16
  >> looking to see what's happening next.
• 16:19
  And so, I don't know, that's been
• 16:20
  important.
• 16:21
  >> Yeah. my best.
• 16:22
  >> No, I think it's it's uh to me it's it's
• 16:24
  really a phenomenal phenomenal story and
• 16:26
  shows how different times are today than
• 16:29
  they have been just a few years ago. And
• 16:32
  I I think it's still very much
• 16:33
  underestimated that we have to we have
• 16:36
  to reach customers where they are and
• 16:37
  how they are.
• 16:38
  >> And I also think to your point about you
• 16:40
  know maybe luxury often being a little
• 16:42
  bit stiff and so on. And um I I used to
• 16:46
  say also a lot in my presentations that
• 16:49
  arrogance is never luxurious.
• 16:51
  >> No, it's there's nothing cute about it.
• 16:54
  >> I have never been in a situation where I
• 16:56
  went to a store and I went walked out of
• 16:58
  a store happy when people treated me in
• 17:01
  an arrogant in an arrogant fashion. No.
• 17:03
  >> And it was fascinating. I um I remember
• 17:06
  about maybe 10 15 years ago, there was a
• 17:09
  study of two business school professors
• 17:12
  um about market about luxury and they
• 17:15
  they actually were um making the
• 17:18
  proposal to say the more the the the
• 17:20
  shittier you treat your customers, the
• 17:23
  more arrogant you behave, the the more
• 17:25
  you sell.
• 17:26
  >> And oh, I don't like that. and and they
• 17:28
  and they showed like a study and
• 17:30
  basically compared and said, "Okay, you
• 17:32
  treat someone well and you treat someone
• 17:34
  not so well." And seemingly in their
• 17:35
  study, the sales um were higher when
• 17:38
  people are mistreated than when they
• 17:40
  they're treated. And I remember that for
• 17:42
  many years this study was cited quite
• 17:45
  often and um and I think that sometimes
• 17:48
  some experiences that we get when we go
• 17:50
  to luxury brands may even be beh
• 17:55
  [Music]
• 17:58
  and you know maybe we have uh you know
• 18:00
  sometimes we dress up sometimes we dress
• 18:02
  down but in the bottom of our hearts
• 18:03
  we're human
• 18:04
  >> and I don't think that anyone loves to
• 18:06
  be not not being um valued.
• 18:10
  >> Yes. And and I I will tell you from my
• 18:12
  fashion background that I told you I I
• 18:14
  ran that store. It's in Charlotte, North
• 18:16
  Carolina called Capital. It's been
• 18:18
  around for 28 years, which is iconic.
• 18:20
  And then now there's one in Brentwood.
• 18:22
  But I was there all the time. So I
• 18:25
  studied
• 18:26
  >> how,
• 18:27
  >> you know, people bought, what they wore,
• 18:29
  all the different things. And and I had
• 18:32
  clients spending a million dollars a
• 18:33
  year with me. So it was it was very
• 18:35
  luxury. And
• 18:36
  >> it's usually the people that would come
• 18:38
  in that would be in their workout
• 18:39
  clothes. Yeah,
• 18:40
  >> they were the real buyers. People that
• 18:41
  were dolled up and dressed, you know,
• 18:43
  they were just kind of window shopping.
• 18:45
  So, it's just treating people with care
• 18:48
  and love and respect. No matter
• 18:51
  >> who you are, how they dress, how they
• 18:53
  seem, just being warm is very important.
• 18:56
  I I think it's helped because I'm in Los
• 18:58
  Angeles, but I'm from North Carolina.
• 19:00
  Yeah. So, I have that southern
• 19:01
  hospitality. Even when Aaron met me,
• 19:04
  Aaron Kerman, he was like, "Oh my gosh."
• 19:06
  And then he randomly popped into one of
• 19:08
  my open houses and I was baking the
• 19:10
  cookies and had the coffee person there
• 19:11
  and he's like, "What are you doing?" I
• 19:13
  was like, "Welcome." You know, and it's
• 19:16
  like, "Oh my gosh, you're baking
• 19:18
  cookies." I was like, "Yes, I bake
• 19:20
  cookies at every open house." And maybe
• 19:22
  that seems silly, but it makes the house
• 19:25
  smell like cookie, you know? It's
• 19:27
  welcoming. And I I just think treating
• 19:31
  people with love is way more important
• 19:33
  than the arrogant side. That that
• 19:35
  doesn't work with me. Yeah.
• 19:36
  >> I don't like that. I don't know.
• 19:37
  >> No, I
• 19:38
  >> I don't know if anybody likes it because
• 19:40
  you're so warm and kind.
• 19:41
  >> Oh, thank you. Yeah. No, it's But I
• 19:43
  think the other interesting thing about
• 19:45
  you is that you also have a comedic
• 19:47
  background and I think that it's but I
• 19:50
  think I think that there has to be a
• 19:52
  sense of humor. Like I
• 19:54
  >> love a sense of humor in luxury because
• 19:56
  it's a funny business, right? And for
• 19:59
  the most part, you know, when you think
• 20:00
  about like the the white paper that we
• 20:02
  just published, you know, almost 90% of
• 20:05
  the world's affluent are self-made. And
• 20:07
  so they didn't No, it's not like
• 20:09
  everybody's sitting on these piles of
• 20:11
  cold. Everybody knows what it's like to
• 20:12
  not have anything.
• 20:14
  >> Yes. Exactly.
• 20:15
  >> And then and so then like it's funny to
• 20:17
  kind of laugh about like look look at
• 20:21
  where this career has taken us. I mean,
• 20:23
  I grew up in Michigan and I am sitting
• 20:26
  in this $45 million spectacular home
• 20:30
  with two amazing people and I I'm like,
• 20:34
  security should come and remove me.
• 20:36
  >> Yeah. Yeah. Like, what am I doing here?
• 20:38
  Oh, well, that's why I'm very open to
• 20:41
  talk about comedy and self-deprecation
• 20:44
  because I moved here, had this career,
• 20:47
  then I did a Ponzi scheme on myself. you
• 20:49
  know, I started a I had two companies
• 20:52
  and I was everybody thought I had a
• 20:53
  trust fund. I didn't. I went bankrupt. I
• 20:56
  had to go to rehab. Like everything fell
• 20:57
  apart and I was like, "Oh, you know,
• 21:00
  total loser, you know, and then I'm
• 21:02
  like, well, I guess I just got to make
• 21:04
  it again." And I tell people cuz I got
• 21:06
  married and I had my baby and I love
• 21:09
  you, Clark, but he was giving me $1,000
• 21:12
  a month as like a and I was like, "Hell
• 21:15
  no, what's that? I can't live like that.
• 21:17
  I was getting to go to lunch. I was
• 21:19
  like, "Absolutely not." So, I was like,
• 21:21
  "Well, I guess I'm going to get in real
• 21:22
  estate." And I did. And I And he was
• 21:25
  like, "Oh gosh, you should." I mean,
• 21:26
  that's like being an actor. I was like,
• 21:27
  "I'm doing it." And I cried every day
• 21:29
  for two years and look at me now. So,
• 21:32
  it's just like it's like I love being
• 21:34
  underestimated, especially like blonde
• 21:36
  hair. And people like, "Oh, who is she?"
• 21:37
  And I'm like, "Oh, yeah. Just
• 21:39
  underestimate me a little more." It
• 21:41
  feels really good. But it's just it's
• 21:43
  just like losing everything, you know,
• 21:45
  having a lot, losing everything. then
• 21:47
  bring coming back up you it and I have
• 21:49
  no ego. That's what happened after going
• 21:52
  bankrupt and getting sober and it was
• 21:55
  like Legally Blonde goes to rehab, you
• 21:56
  know. So it's like okay well here I am
• 21:59
  with nothing and you know nothing to
• 22:02
  lose. So it's just I don't know. It's
• 22:04
  just no ego. Everything was erased and I
• 22:07
  treat everybody the same.
• 22:09
  >> It like there's there's no hierarchy.
• 22:12
  >> Yeah.
• 22:12
  >> You know this is this is critical for
• 22:14
  for client experiences. Um I I do very
• 22:18
  often when I do like um you know
• 22:20
  trainings for customer experience or
• 22:22
  sales trainings there's always one one
• 22:24
  exercise that I like to do and I like to
• 22:26
  ask people um about their best
• 22:28
  experience and about their worst
• 22:30
  experience. Oh I love that and you have
• 22:32
  to reflect what they remember let's say
• 22:33
  last three years four years which
• 22:36
  experience really stood out and which
• 22:38
  experience was so bad that people should
• 22:40
  not never never want to come back. So I
• 22:42
  call them the breakup experiences where
• 22:44
  where someone breaks up smart
• 22:46
  >> with a brand and it's really it's really
• 22:48
  fascinating when you listen to people
• 22:50
  and first of all one learning that I
• 22:52
  made is the category doesn't matter
• 22:55
  >> it doesn't matter we had I had recently
• 22:57
  a training where there someone was
• 22:59
  talking about you know a coffee shop
• 23:01
  >> where the person went to the coffee shop
• 23:02
  and then had the breakup experience
• 23:04
  there and for other people it's maybe
• 23:06
  the car dealer or some something else
• 23:08
  for some people it's something big or
• 23:10
  something very small but there's one
• 23:12
  thing that happens all the time is
• 23:14
  >> um you can boil it down to the person
• 23:17
  felt in one situation within the entire
• 23:20
  customer journey devalued because I was
• 23:23
  not seen um I had an issue they didn't
• 23:25
  listen they didn't take me serious
• 23:27
  things like that
• 23:28
  >> and then on the other side when you when
• 23:30
  you talk about what were the best
• 23:32
  experiences they remember then it's
• 23:34
  actually the opposite it's about feeling
• 23:36
  valued because then they said oh you
• 23:38
  know what um we had very high
• 23:40
  expectation but they even beat them or I
• 23:43
  I don't know I came from a long flight
• 23:45
  and then I missed my connection. Then
• 23:47
  there was this one person that made my
• 23:49
  day because they understood that I that
• 23:51
  I needed some help and then they
• 23:53
  provided
• 23:54
  >> Yeah. They gave a voucher for for dinner
• 23:56
  or something.
• 23:56
  >> Exactly. And when you when you just
• 23:58
  listen to those stories and I've heard
• 24:00
  probably in the meantime thousands of
• 24:01
  these these stories
• 24:03
  >> um you basically really see that it
• 24:05
  doesn't matter how much something costs
• 24:07
  >> to be remembered as the best experience
• 24:09
  they ever had. And it also doesn't
• 24:12
  remember it doesn't matter you know you
• 24:13
  can have something where someone says um
• 24:17
  you know this is the best ever and then
• 24:19
  someone doesn't treat you well
• 24:20
  everything falls apart the brand has no
• 24:22
  value anymore and and people run away
• 24:25
  and I think the the big mistakes that
• 24:26
  people do in luxury is to overestimate
• 24:29
  the object
• 24:30
  >> and overestimate the um the space like
• 24:33
  in a in a home like this or um you know
• 24:36
  when it's a bag then maybe the product
• 24:38
  or car or whatever. So they basically
• 24:40
  think this is um this is basically
• 24:43
  luxury because we can see it because
• 24:45
  it's shiny because there's bling bling.
• 24:47
  But what they forget is that there is
• 24:48
  just a simple human that has to use it
• 24:51
  every day. And if we if we make them a
• 24:53
  little bit happier
• 24:55
  >> then they will be happy and come back
• 24:57
  and if we make their life a little bit
• 24:58
  more miserable then they will um also
• 25:01
  there will be consequences will run away
• 25:03
  >> or they'll put a Tik Tok video up
• 25:05
  telling you how bad it is.
• 25:06
  >> That's right.
• 25:07
  >> That'll happen.
• 25:08
  >> Yeah. Yeah, I think this is another
• 25:10
  fascinating thing that we see today is
• 25:12
  that nothing happens anymore behind
• 25:14
  closed doors.
• 25:15
  >> Oh, everything's exposed.
• 25:16
  >> You know, we saw we saw now um I think
• 25:19
  it was a few last week when the Italian
• 25:22
  authorities um now found that um I think
• 25:25
  was Laura Piana brand that was doing
• 25:28
  that was in their in their supply chain
• 25:32
  um that at least we're basically not
• 25:35
  treating the people in the right way and
• 25:37
  and so on. And then I was I was seeing
• 25:40
  videos on Tik Tok um hours later where
• 25:42
  people said, "Okay, if you cannot trust
• 25:44
  Laura Piano, who can you trust?"
• 25:45
  >> I know you're talking about one of the
• 25:47
  most iconic designer brands right now in
• 25:49
  the world.
• 25:50
  >> And and then they were not of course
• 25:52
  they were not the only ones. Um so then
• 25:54
  there was Dior before there was there
• 25:57
  was Valentino and some other brands. So
• 25:59
  the the um and it's it's interesting we
• 26:03
  have in today's world we have to really
• 26:04
  think like 360 degrees. everything we do
• 26:07
  will be amplified. If we do good, it's
• 26:09
  going to be amplified.
• 26:11
  >> If we do something um that people don't
• 26:13
  agree with, this will also be out there.
• 26:16
  So, um brands really have to think today
• 26:19
  about um about basically the trust that
• 26:22
  they build. Yes.
• 26:23
  >> And you can only build trust again if
• 26:25
  you if you treat a human as a human.
• 26:28
  Well, and so and let's bring this back
• 26:30
  to this beautiful home for just a minute
• 26:32
  because I think there's a really
• 26:33
  interesting statement in kind of well,
• 26:36
  let's call it the Wilder way, like the
• 26:38
  way that you're, you know, the way that
• 26:39
  you're representing it, right? But then
• 26:42
  also this the way that they've built it
• 26:44
  and I mean the bookended marble and the
• 26:47
  incredible finishes and the, you know,
• 26:50
  the staging and the art installation and
• 26:53
  then the fact that this builder is also
• 26:56
  developing up the hill. I mean so there
• 26:58
  so you know if if this is a negative
• 27:00
  experience then that's the legacy right
• 27:03
  so it's if this is a positive experience
• 27:05
  you're building your trust mark
• 27:08
  >> you know in everything that you do it
• 27:10
  doesn't it's how you're representing the
• 27:12
  property it's how the property is
• 27:13
  constructed course and and like there's
• 27:16
  so much legacy in all of that maybe
• 27:18
  unpack that a little bit for us Shelton
• 27:20
  you know just how you think about legacy
• 27:22
  building and how you advise your clients
• 27:24
  when they're putting something like this
• 27:26
  together to get. Yeah. Well, they had
• 27:28
  had this property,
• 27:31
  this five acres for over 10 years. So,
• 27:35
  for a long time, they were deciding how
• 27:37
  they were going to build the property.
• 27:39
  But then they finished this, which is
• 27:42
  absolutely beautiful and very, very
• 27:43
  private. And I mean, this is a legacy
• 27:46
  property. It's it's right it's right
• 27:48
  here. It's in one of the best areas of
• 27:51
  Brentwood. And you have all of the this
• 27:54
  acorage which is very hard to find right
• 27:56
  here
• 27:57
  >> in close to the country, close to, you
• 28:00
  know, every place that you want to be.
• 28:02
  >> House was the main house.
• 28:06
  >> I mean, it's it is it is. You were like,
• 28:08
  "Wait, what's back there?"
• 28:09
  >> When I drove up, I thought, "Okay."
• 28:11
  >> Yeah. You're like, "This is great."
• 28:12
  Yeah. It's gorgeous. Yeah. That's just
• 28:14
  where the security guard would be to
• 28:17
  check you in. Yeah. So I think that as
• 28:19
  well having that sort of privacy and
• 28:21
  then the and the security of that is
• 28:25
  very important here.
• 28:27
  >> So and people are looking for that even
• 28:29
  that that's what that's why people are
• 28:31
  interested in the rosewood as well for
• 28:34
  security and then this has the security
• 28:35
  as well.
• 28:36
  >> So yeah I mean I I think that all the
• 28:40
  different finishes and touches and then
• 28:41
  there's either 30 to 40 cars can go in
• 28:45
  the underneath. I mean, there's there's
• 28:48
  a a lot of special features. Pickle.
• 28:50
  Yeah, there's the pickle ball
• 28:51
  tournaments. Yes, you could basically
• 28:53
  host a wedding here. I think it could be
• 28:55
  just like a venue space.
• 28:56
  >> Well, pickle ball is like a boo boo.
• 28:59
  >> It is of new amenities.
• 29:00
  >> It it is it it they they read the room,
• 29:03
  you know, they took the notes. They they
• 29:05
  they saw what was happening. And it's so
• 29:08
  important. And that gorgeous pool. I
• 29:10
  mean, yeah, it's it's very special. Yes.
• 29:13
  I
• 29:14
  >> love it. And whoever gets to call this
• 29:17
  home is going to be very very a lucky
• 29:20
  person.
• 29:21
  >> Yeah.
• 29:22
  >> How do you see how do you see over the
• 29:23
  last couple of years the the client
• 29:26
  changing? So how who's the buyer today
• 29:29
  when you think about the very wealthy?
• 29:31
  What do they expect? um how how are they
• 29:35
  what are what are things that we need to
• 29:37
  maybe also for the people who who either
• 29:39
  watch this or listen in um and who are
• 29:42
  interested in very wealthy individuals
• 29:46
  um what can we basically maybe distill
• 29:48
  as a learning
• 29:50
  >> well I think what
• 29:53
  that there are there definitely
• 29:55
  international buyers that are coming to
• 29:57
  Los Angeles I still think that the
• 29:59
  values in Los Angeles for what you get
• 30:01
  are
• 30:03
  really relatively
• 30:05
  still there. Meaning in New York some
• 30:08
  things are trading at 67 7,000 a foot
• 30:11
  whereas this is around 2,000 a foot.
• 30:15
  >> So that's very different
• 30:18
  >> here. So I do think that the value and
• 30:20
  people do want to come to Los Angeles
• 30:22
  for the land. So people are very
• 30:24
  interested in that.
• 30:25
  >> So that's why this is ve very appealing
• 30:27
  with two and a half acres. Um pe yeah
• 30:30
  people really want security, they want
• 30:33
  land and then this home offers that much
• 30:37
  square footage, you know, 21,000 square
• 30:39
  feet. But they do love the amenities. I
• 30:42
  think that's, you know, like with the
• 30:44
  pickle and the pool and then anything
• 30:46
  that can be kind of like a fun where
• 30:47
  they could host a party
• 30:49
  >> and and host some sort of event that
• 30:51
  would be special. And I think that they
• 30:53
  did such a beautiful job of in the
• 30:56
  primary with all the separated closets
• 31:00
  and both sides of the bathrooms. And I I
• 31:03
  just think that's one of the best
• 31:04
  features, one of my favorite features of
• 31:06
  the home.
• 31:07
  >> And so people really are interested in
• 31:10
  that. And so, you know, and it has all
• 31:12
  of the other bells and whistles that
• 31:14
  everybody is kind of expecting. that's
• 31:16
  just, you know, the theater room and but
• 31:19
  all the, you know, different bedrooms.
• 31:21
  But I I think having that the the land
• 31:26
  >> is what's very valuable
• 31:28
  >> to to me that that's what people are
• 31:30
  looking for.
• 31:30
  >> Well, you think about the luxury of
• 31:32
  space, right? and and especially in a
• 31:35
  house that has seven bedrooms and you
• 31:37
  know so you've either got you either
• 31:38
  have
• 31:39
  >> you know I mean it can be generations it
• 31:42
  can be extended family it can be staff
• 31:45
  >> blended family too you know it could be
• 31:47
  people together one had three one like
• 31:50
  my family there's like all these
• 31:51
  different kids there's six of us so it's
• 31:53
  just like yes I mean I think that is
• 31:55
  happening a lot too
• 31:57
  >> yeah and so then and then you've got so
• 31:58
  everybody kind of has their own zone
• 32:00
  that they can go in and Then everybody
• 32:03
  has also kind of their own kind
• 32:05
  entertainment outlet, you know. So if
• 32:07
  somebody wants to swim in the pool or
• 32:09
  play pickle or look at their car
• 32:11
  collection or, you know, or
• 32:12
  >> start conversation pit, I love that
• 32:14
  conversation pit. It's definitely having
• 32:16
  a comeback. It's like so chic, you know.
• 32:19
  >> Yeah,
• 32:19
  >> it is. But so, you know, you kind of
• 32:21
  walk in here and it it evokes a feeling.
• 32:25
  >> And so you were talking a little bit
• 32:26
  about it at the beginning about like
• 32:28
  reading the room. So, how do you kind of
• 32:31
  draw those feelings out when you're
• 32:33
  showing a place that is this kind of
• 32:36
  special? I I think
• 32:40
  me meaning reading the room like with
• 32:42
  the client too and and I really believe
• 32:45
  in most of these people have other
• 32:48
  agents that you know why we love Realm
• 32:51
  so much that Julie has created that I'm
• 32:53
  so proud to be a part of is that you
• 32:56
  know we all end up knowing each other
• 32:58
  and so you kind of get to know the agent
• 33:02
  first and you read their energy I think
• 33:05
  is very important then to know cuz
• 33:07
  sometimes people want to see every room
• 33:09
  with you. Sometimes people want you to
• 33:12
  sit away and and they explore and I
• 33:15
  think that that is important to know. So
• 33:18
  if people are private or they want to
• 33:20
  talk or you know that that's important
• 33:23
  to create the the feeling and the
• 33:25
  environment just like I did when I was
• 33:28
  at a clothing boutique is the same is in
• 33:32
  and we were talking about this earlier
• 33:33
  when we were in the closet when I was
• 33:34
  able to when I used to dress people and
• 33:36
  see them naked. It's the same thing as
• 33:38
  selling them homes. It's very intimate
• 33:40
  and so you can kind of get get the
• 33:43
  feeling from them. And maybe that's why
• 33:46
  it was so funny when you walked in and I
• 33:47
  was like, I'm not sure if you're
• 33:49
  embarrassed or not with my little toy
• 33:50
  that's on my purse and you were like,
• 33:52
  "No, very into it." So sometimes you can
• 33:56
  connect with people on either a like
• 33:58
  I've honestly I have a client and she
• 34:02
  came to an open house with me and I had
• 34:04
  all this jewelry on and she calls me
• 34:07
  Bojangles because her her mom had all
• 34:09
  these bracelets and then she's like she
• 34:11
  didn't even know my name. She called me
• 34:12
  Bojangles like the bracelet. So you can
• 34:15
  connect on so many different things. You
• 34:17
  don't know why it would be, but or if
• 34:19
  you can kind of feel that somebody like
• 34:21
  I say, "Oh, there's the pickle ball
• 34:23
  court." And they're kind of like, "Oh
• 34:24
  my, I love pickle. Oh my gosh, I play
• 34:25
  all the time." Then you're like, "Oh,
• 34:26
  let's go see that first." So it just is
• 34:29
  is interesting to kind of
• 34:31
  >> Yeah, because you want them to remember
• 34:33
  the house and having a great experience
• 34:36
  when they come in. So I don't know. And
• 34:38
  it's I think that knowing that the other
• 34:41
  agent too and being respectful of the
• 34:43
  other agent
• 34:44
  >> is very important. I in my opinion that
• 34:47
  that you and even sometimes before the
• 34:49
  showings you can ask like do your
• 34:52
  clients like to be shown around or do
• 34:54
  you like to do it? And I I I think
• 34:56
  that's always important
• 34:58
  >> and goes with part of the part of
• 35:01
  >> being in luxury is
• 35:04
  >> just Yeah. is being thoughtful in the
• 35:06
  human element that you said.
• 35:08
  >> Yeah.
• 35:09
  >> Yes. And understanding the emotions of
• 35:10
  the of the person asking
• 35:12
  >> of the person and the buyer.
• 35:14
  >> Yeah. And so and some people are very
• 35:17
  private so don't you know don't ask a
• 35:20
  lot of questions or some people are
• 35:22
  really chatty and want to talk. So
• 35:24
  >> you got to kind of know.
• 35:26
  >> Yeah. I think that's important.
• 35:29
  Um yeah, I think it's it's this is in my
• 35:32
  point of view also one of the you said
• 35:35
  it you said it before in one of your
• 35:36
  answers about um when you spoke about
• 35:39
  the um you know your experience in that
• 35:41
  in that clothing store and and that
• 35:44
  sometimes the people in the sweatpants
• 35:46
  will be will be your best buyers. And I
• 35:48
  think this is also something that is
• 35:50
  very easy to do as as as humans is um we
• 35:55
  at least we have the tendency to judge
• 35:57
  because we something and then we say
• 35:59
  okay this person is not put in this
• 36:01
  category and that category and so on but
• 36:04
  I always like to say um you know today
• 36:06
  I'm wearing suit because we are we are
• 36:10
  on on camera and and doing the podcast
• 36:13
  um but there are other days I don't know
• 36:14
  when I go to the yoga studio you not see
• 36:16
  me in a suit in the yoga studio actually
• 36:18
  once was funny um when um when um
• 36:22
  >> once I basically the yoga studio where I
• 36:25
  like to go once I had to immediately go
• 36:27
  to a meeting afterwards. So I got I I
• 36:30
  dressed up after the class and left the
• 36:33
  studio and then people who only know me
• 36:34
  in yoga clothes
• 36:36
  >> said, "Oh wow, you you also wear a
• 36:38
  suit." And and it's quite kind of funny
• 36:40
  because it always depends on the context
• 36:42
  in in which you see a person, how how
• 36:44
  you know the person, but it's so easy to
• 36:47
  to underestimate a person or misjudge a
• 36:49
  person or even judge a person um just by
• 36:52
  the way they look on one day or so or
• 36:55
  what what what our expectations are.
• 36:57
  >> So I think what you said is very
• 36:58
  important also to respect. If someone is
• 37:00
  very private and doesn't want to share,
• 37:03
  then it it's probably not very helpful
• 37:04
  to ask 5,000 questions.
• 37:06
  >> No, no, no. And you can feel it. You can
• 37:08
  tell. And
• 37:10
  >> I'm not one to to pry. Also, I'm
• 37:12
  southern, so that's not really We're not
• 37:14
  used to asking lots of questions. You
• 37:16
  don't
• 37:17
  >> That's right.
• 37:17
  >> My mom taught me we we don't do that.
• 37:19
  So, you want to be respectful, but al
• 37:22
  you know, just polite
• 37:23
  >> being polite.
• 37:24
  >> But there is a luxury in creating a
• 37:26
  sense of belonging
• 37:28
  >> and especially when that's kind of what
• 37:30
  we do as community builders, you know,
• 37:32
  where like we're they're coming here and
• 37:35
  we're the first. It's not just the first
• 37:37
  introduction to a spectacular place like
• 37:40
  this, but it's a first introduction to a
• 37:42
  new group of friends. It's a first
• 37:44
  introduction to a philanthropy. It's the
• 37:46
  first, you know, and all of those
• 37:48
  things, you know, when somebody comes in
• 37:50
  and they like Shelton, you do it so
• 37:52
  well, it's like, I belong here. This
• 37:56
  girl is shining her light on me, right?
• 38:00
  And there's a luxury, but there's also a
• 38:03
  luxury in being able to work with
• 38:05
  somebody that's really good at that, you
• 38:07
  know, and that's that's what our clients
• 38:09
  get.
• 38:10
  >> Yes, definitely. That that's the feeling
• 38:13
  we want them to have and Yeah. that they
• 38:15
  belong.
• 38:17
  >> Yeah, it's true.
• 38:20
  >> Super. Um, where do you think the the um
• 38:25
  market and customer expectations are
• 38:27
  going? Um, I for example, when you take
• 38:30
  um your youngest customers and so the
• 38:33
  young and affluent and I I have been
• 38:35
  also doing a lot of research on them and
• 38:37
  you know I I always say the the the next
• 38:39
  generation is is quite interesting
• 38:42
  because
• 38:43
  >> um and interesting I don't mean in a bad
• 38:45
  way I think mean in a very positive way
• 38:47
  interesting because to me for example if
• 38:49
  I take Gen Z
• 38:51
  >> Gen Z is
• 38:52
  >> to me the most um maybe the most
• 38:56
  exciting generation because it's the
• 38:57
  first generation
• 38:58
  that grew up almost from day one on
• 39:01
  social media.
• 39:02
  >> Yeah. And
• 39:02
  >> and computers and social media all
• 39:04
  >> and computers. Yeah. And and so but what
• 39:06
  does it mean? It means that someone who
• 39:09
  was when they were three years old, four
• 39:11
  years old, five years old, they had
• 39:13
  probably their first social media
• 39:14
  account. And this means that from very
• 39:16
  early on their life is very very public,
• 39:20
  which no generation before ever
• 39:22
  witnessed. No.
• 39:23
  >> And um I think this is so underestimated
• 39:26
  when you when you think about that
• 39:27
  generation. I see so many misconceptions
• 39:29
  and so often you know they don't have
• 39:30
  money or blah blah blah which all is
• 39:32
  wrong but um I think the biggest
• 39:34
  misconception is not to understand that
• 39:37
  if you are on social media basically
• 39:40
  from day one meaning having a public
• 39:42
  life from day one meaning sharing
• 39:44
  everything you do from day one that
• 39:46
  dramatically alters behavior alters
• 39:49
  things that become important. So, for
• 39:51
  example, again, if I look at a at a home
• 39:53
  like this, um, every single detail is
• 39:57
  probably Instagrammable. Every single
• 39:59
  detail is is done is done. That is so
• 40:01
  true.
• 40:01
  >> Yeah. Is done in in a way that is going
• 40:03
  to look good.
• 40:04
  >> And, um, these were things that
• 40:06
  probably, I don't know, 10, 15, 20 years
• 40:08
  ago where were unimportant. Um there
• 40:11
  were spaces in a home like the kitchen
• 40:14
  or so where which was very often hidden
• 40:17
  somewhere um because it's maybe not a
• 40:19
  place where it was very functional in a
• 40:21
  way and today you always have to think
• 40:23
  also much more about how will something
• 40:25
  look and you mentioned this is also a
• 40:27
  great place to do for example a wedding
• 40:30
  or a party or so. So so this also means
• 40:33
  that the different space every space now
• 40:35
  also then has to has to look good. So I
• 40:38
  would be quite curious to to see
• 40:40
  especially when you think maybe about
• 40:41
  your your youngest customers.
• 40:43
  >> Yes.
• 40:43
  >> Um how they differ from maybe older
• 40:47
  customers, how their behaviors differ,
• 40:49
  but also how their aspirations, dreams,
• 40:51
  and what they're looking for differ.
• 40:54
  >> Well, I think they're looking for
• 40:55
  Instagrammable. I mean, I think that
• 40:57
  that's why
• 40:58
  >> real estate has changed. I've only been
• 41:00
  in nine years, but I just know that
• 41:05
  something that's so important to people,
• 41:07
  if you're buying a $2 million house to a
• 41:09
  $45 million house, you want the reason
• 41:12
  that we spend so much time on property
• 41:15
  prep and getting the homes ready and
• 41:17
  having it staged and then this home has
• 41:19
  this incredible art collection in it is
• 41:22
  that it is in Instagrammable. But also,
• 41:25
  I don't know if you think about this,
• 41:26
  but this is like very important people.
• 41:29
  If you're looking at a home, they take
• 41:30
  that Zillow link or the Red Fin link and
• 41:32
  they send it to their friends.
• 41:34
  >> Yes.
• 41:35
  >> And you want it to be like, "Oh, wow.
• 41:37
  That's going to be your house." Like,
• 41:39
  it's important. People want to feel
• 41:42
  that, the excitement of that. And that's
• 41:44
  why those homes always sell for more or
• 41:47
  get, you know, the more views or the
• 41:48
  more saves or different. So, I do think
• 41:50
  that that's important. And then also and
• 41:54
  that it's Instagrammable, but also that
• 41:56
  they feel excited about it versus like,
• 41:59
  you know, I think a while ago, I don't
• 42:02
  know how long you've been in real
• 42:03
  estate.
• 42:03
  >> Very long.
• 42:04
  >> A long time. Okay. But like people
• 42:05
  could, you know, you could just put up
• 42:07
  photos and then the sign and it was very
• 42:09
  different. Now it has to like look a
• 42:11
  certain way. And that's why we have
• 42:13
  these special photographers and drone
• 42:16
  videos coming in. I mean, we have like
• 42:18
  the guy that flies the drone in the
• 42:20
  homes and so it looks very unique and
• 42:23
  special and yeah, it's it's very
• 42:25
  different. We get like special candles
• 42:27
  for the home. We have, you know, the fl
• 42:29
  the florals that are done. It's just
• 42:31
  very different now and and that's what
• 42:33
  people care about when they're when
• 42:34
  they're looking and they're having the
• 42:36
  home that they're sending to their
• 42:37
  friends. But I do think that this new
• 42:40
  generation of wealth that's transferring
• 42:43
  that we were talking about earlier that
• 42:45
  they're calling, can I say what they
• 42:47
  call?
• 42:47
  >> Yes. Yes.
• 42:49
  >> The silver tsunami,
• 42:51
  >> which I think it's just so silly. I
• 42:54
  don't know if you've heard of this yet,
• 42:56
  but Tom Ferry talks about it.
• 42:59
  >> News flash with the boomers. And so, um,
• 43:03
  anyway, I call myself a boomer sometimes
• 43:05
  if I can't figure out something on the
• 43:07
  computer. But anyway, so it's just,
• 43:10
  yeah, the new generation and it's being
• 43:12
  transferred. And you did such a good
• 43:14
  job. You had the art,
• 43:17
  you know, advisor that was in at the
• 43:19
  breakers. We were talking about how that
• 43:21
  these
• 43:23
  people are being given this incredible
• 43:28
  artwork and everything. They're like, we
• 43:29
  don't want this. and or or so they're
• 43:31
  like, "Well, let's like reframe it or
• 43:33
  take off the gilded
• 43:35
  >> frame." It's so interesting because
• 43:38
  things are so different and what they
• 43:41
  this new generation wants it could be
• 43:44
  different than what their parents are
• 43:46
  giving you know they want maybe
• 43:48
  different types of homes.
• 43:49
  >> Yeah.
• 43:50
  >> Or you know things.
• 43:52
  >> Yeah. It's very interesting.
• 43:54
  >> It's very interesting. Well, and I think
• 43:55
  too like when you think about the
• 43:56
  boomers, right, and you think about the
• 43:59
  um what they valued, right, where it was
• 44:02
  like a brand and like you knew that it
• 44:05
  was luxury because they drove a Mercedes
• 44:07
  Benz or they had a Chanel handbag or
• 44:10
  Rolex, right? Rolex boxer. Exactly. And
• 44:14
  now I think that what has happened with
• 44:17
  luxury is that it's
• 44:19
  through social media that is now how
• 44:22
  they're brand building. So before you
• 44:24
  would use other brands to kind of you
• 44:26
  know where you'd be like okay I know
• 44:27
  that that girl is fancy because she's
• 44:29
  got all she's got all this stuff and now
• 44:32
  they're telling that story through
• 44:34
  social media and through how they live
• 44:36
  their lives. And I think that that's
• 44:39
  >> I mean one I think that's super
• 44:40
  interesting. The other thing that I
• 44:41
  think it's interesting that you both
• 44:42
  have mentioned is this idea that
• 44:45
  everything is public, but everything
• 44:48
  that we've talked about today in luxury
• 44:50
  was has been about security and privacy
• 44:53
  and having an oasis away.
• 44:55
  >> And the other thing is that's so unique
• 44:58
  that
• 44:59
  >> this is what the younger generation
• 45:00
  wants is access.
• 45:02
  >> Yeah.
• 45:02
  >> And that is what it is. It's if it's a
• 45:05
  special box at the F1 or, you know, one
• 45:09
  of the or at Wimbledon where they're
• 45:11
  selling tickets now. I was just there. I
• 45:14
  did not get this ticket, but one day um
• 45:17
  $275,000
• 45:19
  a ticket
• 45:20
  >> and they're sold out through 2030.
• 45:23
  >> Sold out through 2030. And so whatever
• 45:26
  it is that's special and one of a kind
• 45:29
  and unique and that's I've been hosting
• 45:32
  or I worked with this this amazing guy
• 45:36
  and he hosts these special access
• 45:39
  dinners.
• 45:40
  >> Yeah. for these other creators and
• 45:42
  they're all worth between 50 and a hund
• 45:44
  and 50 million and a billion dollars and
• 45:47
  they're either creators, influencers or
• 45:50
  owners of AI companies, tech companies
• 45:54
  and it's just fascinating. I was at this
• 45:55
  dinner, there was 20 of us and I was
• 45:57
  just like wow I'm like I'm a realtor.
• 46:00
  >> Hey, this is my listing. So, um, but it
• 46:03
  it that that's very interesting and
• 46:04
  access to having this very special
• 46:07
  dinner where everybody's having the this
• 46:10
  crazy caviar where you could had to put
• 46:13
  your hands behind your back to only eat
• 46:15
  it like like this little it was called
• 46:16
  like a caviar purse. And so, it was just
• 46:19
  this fun, fascinating dinner and we were
• 46:22
  all together. And so I think like
• 46:24
  networking like what you've done with
• 46:26
  the 600 agents and that's luxury
• 46:30
  >> that's access and these networking
• 46:34
  things but it's really like connection
• 46:35
  groups that mean a lot like I have my
• 46:38
  connecting group um with this women it's
• 46:40
  called wilder women and there's like 240
• 46:42
  of us and then we have an event and
• 46:44
  every six weeks and they can come. It's
• 46:46
  just that's kind of these are these
• 46:48
  specialized things, but that's what I
• 46:50
  think is shifting in real estate too.
• 46:53
  >> I agree.
• 46:53
  >> Yeah.
• 46:54
  >> Yeah. It goes I don't want to say it
• 46:56
  goes away from products because products
• 46:59
  are still important but it it's
• 47:01
  basically the products or the the spaces
• 47:04
  the venues they are basically just
• 47:05
  enablers
• 47:06
  >> for some for something else. I think
• 47:08
  this ship before it was just simply
• 47:10
  owning and collecting and uh and then
• 47:12
  you can you said okay I have these 30
• 47:14
  cars or this these paintings or whatever
• 47:17
  and now it's much more you do something
• 47:19
  very very specific to be part of a club
• 47:22
  to be part of a group or to be part of
• 47:24
  or to be as inspired by people who who
• 47:27
  are like-minded.
• 47:28
  >> Yeah. and these special experiences.
• 47:30
  That's what it seems like people are
• 47:33
  more in yeah inspired and
• 47:36
  inspired and aspiring
• 47:38
  >> for.
• 47:39
  >> Yeah.
• 47:40
  >> So I think
• 47:40
  >> so I think Daniel I think as we wrap
• 47:42
  things up I think that we should have
• 47:44
  Shelton invite us back to come to the
• 47:46
  next house.
• 47:47
  >> Yeah. Oh gosh.
• 47:48
  >> Absolutely. Wonderfully.
• 47:49
  >> After this one sold and this one's
• 47:51
  finished. Yes. Very much. Yeah.
• 47:54
  >> This is great. But I you this is so
• 47:57
  interesting and thank you so much for
• 47:59
  having me and for coming
• 48:00
  >> and enjoying this beautiful home.
• 48:02
  >> Absolutely.
• 48:03
  >> Um maybe maybe before we before we wrap
• 48:06
  up finally maybe to to both of you um a
• 48:09
  question that is one of my favorite
• 48:11
  questions at the end of the future of
• 48:12
  luxury um podcast is where do you see
• 48:15
  the future of luxury? We kind of touched
• 48:17
  already on some of the things but um
• 48:19
  maybe like a final reflection on where
• 48:22
  luxury is heading in the next 10 years
• 48:23
  or so.
• 48:25
  I believe luxury is heading what we were
• 48:28
  discussing with access
• 48:30
  >> and
• 48:32
  just special experiences. That's what
• 48:35
  that's what I want to be invited to.
• 48:37
  That's where I want to be cuz I love all
• 48:39
  the things and I'll have all the leoos
• 48:41
  and all the Birkkins and everything. But
• 48:44
  I think the experiences
• 48:47
  and access to these special events and
• 48:51
  so that you're able to be with people
• 48:53
  because after co and everything's so
• 48:55
  online. I think the new luxury is IRL in
• 49:00
  real life
• 49:00
  >> and being with people. Yeah.
• 49:02
  >> That you really care about that are
• 49:04
  special and that
• 49:07
  >> give you that belonging that we talked
• 49:10
  about and that
• 49:12
  >> special feeling. I just think that
• 49:14
  that's the the new thing and and it's
• 49:16
  like the who you know and like being
• 49:19
  introduced to people that you
• 49:22
  you know that that want the best for you
• 49:24
  as well. So I I I think that's kind of
• 49:26
  the next the next part of luxury.
• 49:28
  >> Yeah. Wonderful. And
• 49:30
  >> I love that. No, and I think it's just
• 49:31
  to dovtail on that. It's um I think too
• 49:34
  that the more the luxury industry gets
• 49:37
  kind of bifurcated, right? So you've got
• 49:39
  the the really, you know, kind of the
• 49:42
  the people that appreciate what you're
• 49:44
  doing and um and in you're providing a
• 49:47
  luxury experience and those people are
• 49:49
  going to stay. Those are discerning
• 49:51
  consumers. They it's it's about value
• 49:54
  rather than about the price. You know,
• 49:57
  they see value in you and um and then
• 49:59
  you have kind of the commoditized luxury
• 50:01
  that is really not luxury. It's just
• 50:03
  kind of it's that churning and and I
• 50:06
  think
• 50:06
  >> the people that take pride in service.
• 50:09
  >> Yes.
• 50:10
  >> And and right where it's just like I'm
• 50:12
  so
• 50:13
  >> I'm so proud to like to kind of
• 50:15
  represent something beautiful or to be a
• 50:17
  part of somebody's story
• 50:19
  >> and like and and then that makes people
• 50:21
  proud to work with me, you know, and and
• 50:23
  and that mean that also then means that
• 50:25
  I don't have to work with everybody if
• 50:27
  they don't appreciate me.
• 50:28
  >> Oh yes, we got to go. Sorry if and and
• 50:32
  if and if you're out of integrity too
• 50:34
  that I I can't
• 50:36
  >> Yeah, you have to write everything on
• 50:38
  your disclosures or I am you know what I
• 50:41
  mean like you have to do you know you
• 50:43
  just have to
• 50:45
  >> I don't know it's very important that
• 50:48
  integrity part that's only people I want
• 50:50
  to be around.
• 50:51
  >> That's it. Well and integrity can mean a
• 50:52
  lot of different things. Integrity can
• 50:54
  mean structural integrity. Integrity in
• 50:56
  what you've built, integrity in the
• 50:57
  business that you're building. integrity
• 50:59
  and the service that you provide. Yes.
• 51:00
  And all of that, I think people are very
• 51:04
  smart and very discerning and especially
• 51:07
  when you get to kind of the people that
• 51:09
  we're all dealing with all the time. I
• 51:11
  mean, they're they're learning from you,
• 51:13
  you know? I mean, you're defining the
• 51:14
  future of luxury, Daniel, and how you're
• 51:16
  educating what you're doing.
• 51:18
  >> What you're doing, it's just it's very
• 51:20
  important.
• 51:21
  >> Yes. But there and so then once they
• 51:23
  kind of know, then that becomes
• 51:25
  commonplace. And so we kind of then have
• 51:27
  to reinvent ourselves and say, "Okay,
• 51:29
  well, what
• 51:30
  >> all right now what's the next level?
• 51:32
  What's this is this is now table
• 51:34
  stakes."
• 51:35
  >> And so if we truly take pride and and
• 51:38
  have the integrity in what we're
• 51:39
  building, we got to keep setting the
• 51:41
  bar. So that's that to me is the future
• 51:43
  is that it's just climbing a little
• 51:45
  higher.
• 51:46
  >> Yes.
• 51:47
  >> Yeah. And I think it's a wonderful
• 51:48
  closing. It shows again that
• 51:50
  fundamentally um if we speak about
• 51:53
  extreme value creation then it's all
• 51:55
  about the human again and I I like what
• 51:57
  you said the IRL and in real life and
• 52:02
  >> that's what matters now people want to
• 52:04
  see you give you a hug feel your energy
• 52:08
  and it's about yeah so that's my whole
• 52:10
  thing and I have this like funny book
• 52:12
  I'm writing and every it's called
• 52:14
  Posatron and that's what I call it and
• 52:16
  it's just about posetron and I have like
• 52:19
  sweatshirts and mugs and everything, but
• 52:21
  it's it's really that feeling of that
• 52:23
  like everything's happening for me, not
• 52:25
  to me. And and that just wanting
• 52:29
  everybody around you to do well and feel
• 52:31
  well. Yeah. I don't know. I'm I'm really
• 52:34
  dorky about it, but I but I really
• 52:36
  believe that that if you put out
• 52:39
  positive energy, it comes back.
• 52:40
  >> Yeah.
• 52:41
  >> So true.
• 52:41
  >> Wonderful. Amazing clothing. So thank
• 52:44
  you both for for um spending this about
• 52:47
  an hour together. It was a super
• 52:50
  insightful conversation. I think we
• 52:51
  touched on a lot of so important parts.
• 52:55
  Um and we can see that you know we we
• 52:58
  wanted to talk a lot about luxury real
• 52:59
  estate but then we talk about from laboo
• 53:02
  to other things and we
• 53:04
  >> covered a lot of
• 53:05
  >> covered a lot
• 53:05
  >> but again it shows that in the end is
• 53:08
  all about the human and this is
• 53:10
  basically just a beautiful canvas that
• 53:12
  maybe enables something and enables a
• 53:13
  discussion like the discussion we had
• 53:15
  today but it's not basically the it's
• 53:18
  it's kind of more part of the journey
• 53:20
  rather than the end point. Yeah. And I
• 53:22
  think in in the past luxury has been
• 53:23
  seen more as the end point and I think
• 53:26
  what we uncover today is is more about
• 53:28
  the journey.
• 53:29
  >> I love that.
• 53:30
  >> Yes.
• 53:31
  >> So
• 53:31
  >> thank you both.
• 53:32
  >> Beautiful.
• 53:33
  >> Thank you both for being here. Thank
• 53:35
  you.
• 53:35
  >> Thank you.
• 53:40
  [Music]