Luxury Real Estate

By Janice Ridge

We at LuxuryRealEstate.com have been hearing lately that some of our members are focusing more on Web marketing these days, and have reduced their budget for print. Well, let me ask you to rethink this trend. Here’s a story that just may change your mind.

LuxuryRealEstate.com member Prominent Properties - Sotheby’s International Realty, in Tenafly, N.J., recently reported that a front-cover ad of the August/September 2007 issue of Unique Homes magazine not only brought their agent, Jennifer Patterson, the buyer, but she sold the listing at the full sale price of $11.8 million in cash! That equaled 28 times the initial investment made on the ad! Incredibly, the same all-cash buyer also purchased an estate in Greenwich, Conn. for $22 million!

Many agents mistakenly believe that their business should be either print-based or Web-based. However, a multimedia approach is necessary in the specialized luxury real estate market. With most luxury buyers over the age of 40, these are people who grew up reading a good Sunday paper, including the real-estate classified ads and magazine inserts. These are also the buyers and sellers who are connected to the Internet and are online regularly. They are going back and forth from print to Web and then back again.

In addition to posting their listings on www.luxuryrealestate.com, members regularly take advantage of Luxury Real Estate’s group advertising rates with the Wall Street Journal. This means that an ad in the Journal reaches a core audience of business and professional people who are likely candidates to purchase luxury properties in addition to their regular subscribers.  With Luxury Real Estate’s newly offered product, the Wall Street Journal International edition, our members’ listings are sure to reach the widest audience possible in the United States, Canada, Europe and Asia.

So those of you who question the value of print – think again! Your successful marketing campaign should include a combination of online listings and group advertising in our many print opportunities. Call us today for further information on how you can participate!


Editor’s Note:
As the Director of Membership at LuxuryRealEstate.com, and herself a licensed REALTOR®, Janice Ridge is devoted to coordinating the efforts of all of the LuxuryRealEstate.com Membership and Account Managers, so that each of our members is given superior service. I’d like to mention that all of our group Wall Street Journal ads are also placed online in a great example of print and Web marketing working together. Long live print, indeed.