Lenz’s point — not to be taken literally — was to be in constant contact with clients and aware of what they do on a day-to-day basis and what they need, all of which impacts how they buy and sell real estate.
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With over 25 years of luxury real estate experience in New York City, Dolly Lenz’s secret lies in staying in her clients’ pants, she told attendees at Inman Connect New York on Wednesday.
But, not in the literal sense.
“We stay in our clients’ pants,” Lenz said during a panel of luxury real estate specialists. “We literally need to know what they’re doing, what they need … Just fulfilling all those needs keeps us sticky.”
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Dolly Lenz | Dolly Lenz Real Estate
Lenz works with her daughter Jennifer Lenz, who also appeared on the panel, at Dolly Lenz Real Estate, and moderator Lindsay Listanski of Coldwell Banker wondered how the two balanced their energy between the younger, less experienced agent, and the mature, seasoned agent.
“We really keep ideas flowing constantly,” Dolly Lenz said. “What could sound like not the brightest idea or most innovative actually is once they explain it.”
She said the team is open-minded when it comes to sharing ideas about how to do things, but it always must be examined through what Lenz called an “ethics box.”
“That’s really the box that we always need to be sure we’re not doing anything outside of this box.”
Jennifer Lenz | Dolly Lenz Real Estate
Panelist Kirby Lottman of Agent Image said she’s seen agents do a lot of innovative things in recent years with new technology, but at the end of the day, some of the things that resonate with clients most are business basics, like knowing your brand and personalizing client attention.
Listanski confessed that she and the panel’s fourth panelist, Michelle Griffith of Douglas Elliman, had discussed their anxieties about AI in addition to all the exciting benefits it has already brought to the industry.
“We’re being inundated with so many different things,” Griffith said. “AI, streamlining, and I really think we have to focus on going back to the basics.”
The power of storytelling is something that Griffith focuses on in her business because great stories can help grab a client’s attention in a difficult market, she said.
“As agents, we have to really dig deep and differentiate ourselves, and sometimes going back to tell that story is what really resonates.”
Kirby Lottman | Agent Image
Lottman said that it’s also important to keep a strategy in mind when keeping in touch with clients “and being focused on that strategy.” Authenticity and consistency also help, she added.
Griffith said that she also uses multiple touch points with her clients and will continue to use ones year after year that prove to have consistent results.
For instance, she always makes sure to appear in the July 4 issue of Hamptons Magazine because her clients always see it.
On top of those suggestions, Lottman said she’s noticed that video testimonials also make a huge impact on potential clients. “Video testimonials are absolutely the most powerful tool you can have,” she said.
Lindsay Listanski | Anywhere
But the elder Lenz’s biggest takeaway for agents who want to become real estate icons — like her — was to be in the spaces where those clients are, from galas to other events. Even if you can’t afford to buy a ticket, you might be able to volunteer at the event, Lenz suggested.
“So it’s pretty simple,” she said.
“If you love dogs, post about dogs,” she added. “You’d be surprised how many super-wealthy clients you want to attract love dogs.”
Providing an extra level of service also doesn’t hurt, Dolly added. She said that she and Jennifer actually recently helped one of their long-time clients close a big deal in Houston, and flew back and forth there 20 times over the course of the listing and sale.
“Now we’re friends,” Jennifer said.
In closing, Listanski wondered about everyone’s final takeaways for succeeding in real estate.
Michelle Griffith | Douglas Elliman
Lottman said agents should focus on a hyper-local business approach, while Dolly Lenz said authenticity is “huge” and Jennifer Lenz argued “respect is big.”
Griffith seconded authenticity and also added that connection is a big one with her clients. Additionally, she said that agents should strive to continually assess their own weaknesses.
“I’m constantly poking holes in my business and I’m trying to find out where there’s a weakness and where I can diversify,” she said.
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Email Lillian Dickerson