Selling Resort Properties
Selling properties in vacation destinations requires specific marketing and positioning. At Concierge Auctions, we’ve sold homes in the world’s most idyllic spots, from the white-sand beaches of Fiji to the Swiss slopes and Hawaiian islands. Many of our ultra-high-net-worth buyers purchase properties in various destinations for enjoyment during different times of the year.
In second home markets, different areas draw potential buyers depending on the location and other factors. Florida is popular with the Northeast of the U.S. as well with Russian and Brazilian purchasers. Our research has shown that interest in Hawaii comes from the West Coast of the United States, from Los Angeles to Silicon Valley, and up to Seattle as well as from New York. There is also increasing interest from Chinese buyers, in addition to other potential purchasers from Asia. Concierge Auctions has hosted events in Beijing, Shanghai, and Guangzhou for the last few years to network with affluent Chinese buyers who have shown growing interest in acquiring a global portfolio of properties for both investment and enjoyment. Each of our campaigns starts with a detailed analysis of which markets to target as a complement to comprehensive global outreach.
The mind of a property owner
Building an active database of engaged high net worth buyers takes time. Concierge Auctions travels the world and attends and sponsors some of the most important events that appeal to affluent consumers. We go far deeper than collecting contact information, we build relationships that last over time. We learn what matters to these individuals and offer them access to the types of properties they are most interested in. Often these potential buyers are looking for lifestyle over location as they amass a portfolio that enables them to achieve their personal and professional goals. Concierge Auctions has connected buyers with a variety of different types of properties in Hawaii, from equestrian ranches to waterfront retreats.
The soul of a property
In the case of a recent sale of the Luakaha Mauka estate in Honolulu that had been in the same family for five generations, Concierge Auctions started by meeting with listing agent Erik Hinshawof Hawai’i Life Real Estate Brokers and the seller to learn how the property had been used in the past and its potential for future use. Among its key attributes were a beautiful view of the famed Luakaha waterfalls and the fact that it is adjacent to land once used as a retreat for King Kamehameha III.
A variety of potential buyer groups were identified. The property could be passed on to another Hawaii family who could maintain its use as a private estate. A developer could buy it and subdivide it for future sales. A second-home buyer could arise from one of the feeder markets. An outreach plan was developed for each of these groups.
In this case, showcasing the seller, their long-standing and deep connection to the property, the history, and rarity of the land, and its access to one of the most famed waterfalls in the area helped increase interest. The film created to market the property showed the value of the views over protected forest land that will never be built on. It also emphasized the special nature of the home’s construction including the use of lava rocks and old-growth redwoods. In the video, the seller explained the value of the landscaping and the rare types of plants and flowers growing on the land.
Why auctions for luxury homes
Auctions are a powerful tool partly because of the excitement and sense of urgency they generate in buyers. They also expand the market with opportunistic buyers - clients who may not have been actively looking for a property but engage because of the opportunity of purchasing from a committed seller. Auction buyers also enjoy that they can bid with confidence knowing they will pay a fair market value, one bid above the second-highest bidder. This is especially powerful in ultra-luxury transactions of incomparable properties, whereas buyers are concerned with overpaying in the traditional, closed offer process. Concierge Auctions has worked with Hawai’i Life on over 40 auctions in the past decade. Together we have achieved record prices for properties around Hawaii on multiple occasions.
This partnership has been so successful because of the spirit of collaboration between the two companies, which both started ten years ago. Hawai’i Life is well known for its beautiful marketing and detailed approach to selling some of the world’s most desirable properties. Together, the two companies share a vision for providing the highest quality of care and discretion for all buyers and sellers.