In 2008, Coldwell Banker Residential Real Estate's Luxury and International Properties captured 20 percent of market share of the luxury market in the Tampa Bay area, according to Multiple Listing Service data. Now, the company is looking to increase that market share with Coldwell Banker Previews International, an effort designed for marketing luxury residential properties to affluent buyers worldwide.
"Coldwell Banker Previews International has the connections that align our sales associates and their customers' multimillion dollar properties with the most powerful network of luxury specialists in the world," says Cathleen Smith, regional senior vice president, Tampa Bay. "The Coldwell Banker name is one of the most respected in the marketing of exceptional real estate."
Smith attributes the power of electronic marketing as a key element in attracting buyers.
"The Internet has proven to be a dominant tool in reaching millions of potential buyers worldwide. Home buyers are using the Internet in increasing numbers to research information on properties," she says.
The National Association of Realtors 2008 Profile of Home Buyers and Sellers reports that about 87 percent of people begin the home search process on the Internet.
"Previews enjoys a reputation for excellence and repeat referrals, and has stood the test of time in attracting attention to the world's most prestigious properties, from castles and palaces to waterfront mansions and islands in the South Pacific," Smith says. "Using the Previews marketing approach, certified Previews property specialists assist the most influential and successful people of our time in buying and selling their exquisite properties."
The Internet offers home buyers worldwide the opportunity to view properties in a click. According to company reports, prospective home buyers from 145 countries visited its site, www.floridamoves.com, in December. The top countries were Canada, the United Kingdom, Germany, France, the Netherlands, Sweden, Uruguay and Brazil.
"Our magnificent residences are also photo-featured in several beautiful proprietary luxury magazines that are distributed globally to an upscale audience," Smith adds.
As part of its commitment to utilizing technology, Coldwell Banker recently announced that company listings are accessible for iPhone and BlackBerry users in 28 countries. When viewed using these mobile devices, the Coldwell Banker Web site, www.coldwellbanker.com, has special navigation features tailored for optimal viewing.
Although the company markets its $1 million plus properties to a worldwide audience, Smith thinks the residences are garnering the attention of domestic and international buyers.
"Most of these properties are such a bargain right now it has attracted the attention of our foreign investors. While some people didn't think the timing was right, prices have been reduced substantially enough that residents in the U.S. are paying attention, too," Smith says.
Coldwell Banker Real Estate handles an average of $131 million in luxury homes sales every day. Coldwell Banker Previews participated in nearly 25,000 transaction sides of million-dollar-plus homes.
Directing the luxury program and further developing international relations for Florida is Lena White, who recently was named manager of Luxury and International Markets. White brings 15 years of real estate experience to this role and is exclusively dedicated to marketing luxury properties.
Visit www.floridamoves.com or call 1-800-624-5292 for information on buying or selling a home.