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New Market Realities for Luxury Homes in Black Rock, CT

By
Real Estate Agent with William Raveis Real Estate RES.0772823

 

NEW MARKET REALITIES FOR LUXURY HOMES 

 

The main player who dominated luxury listings in Black Rock in the past has been outpaced by a more technologically savvy firm. Until 2005, there was one main player in the $1 million plus Black Rock real estate market and it wasn't Raveis.

 

 

Luxury Homes Sales Through 2004 

 

Starting in 2005 to the present, the luxury market has been dominated less by personal networking and more by Internet savvy.  At a very local level this can been seen by the tremendous increase in market share by Raveis, known for its state-of-the-art technology especially in its high end Exceptional Properties division.  As you can see by the chart below, Raveis has dominated the very high end $1 million plus sales in Black Rock (although the former dominant player, Competitor A, still gets a lot of listings at the high end, but not many sales).

 

Luxury Sales 2004 to Present 

 

 

There are more players in the luxury market in Black Rock, however since 2005 Raveis has clearly dominated the field with 36% of the $1 million + sales.  Competitor A is no longer in first place or even second place, but tied for third place with another firm.  Gail Robinson of William Raveis is an Exceptional Properties Specialist, who has an expertise in Internet marketing and a web strategy for drawing in buyers from New York and other parts of Fairfield County.  She has sold more homes over $1 million in Black Rock than any other agent since the market shifted in 2005.

Times change and marketing strategies need to change.  When you think about selling your high end luxury home don't just look at which companies list high end homes in Black Rock.  Consider which firms SELL high end homes in the Internet-savvy world of luxury real estate marketing. 

 

FREE PRECISION PRICING MARKET ANALYSIS

If you are thinking of selling your Black Rock home, call Gail today at 203-521-0768 (cell phone).

 

   

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Comments (10)

Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Gail -- a great report on the changing market and times.. and you are certainly exceptional in all that you do.

May 22, 2012 11:35 AM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Hi Joan - You are too kind! 

May 22, 2012 12:09 PM
Mahesh Mike Patel
First Team Real Estate - Anaheim Hills, CA
Call Me And Consider It Done!
Nice way to put. Please share some ideas that is working for you. I am looking into getting into the fine homes division via Internet as well
May 22, 2012 10:32 PM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Mahesh - My broker firm has an Exceptional Homes Division that has relationships with the top luxury home sites, so homes get shown to potential buyers internationally as well as locally.  Raveis has the most advanced website for consumers and it's own site within the site for luxury homes.  Every luxury home gets professional digital photograhy and a virtual tour. 

Beyond that I spend a lot of time figuring out where the buyer will come from, what keywords they will use to search for homes and then I lead potential buyers to discover the Black Rock area.  Black Rock is unknown to most buyers, but it is only an hour's commute from Manhattan via train and we have a new train station, which makes commuting even easier.  Over 14% of the traffic to one of my websites comes from New York City.

They also may find the home directly by putting in keywords that lead them directly to the landing page for this specific luxury home.  The more specific you can get with keywords for landing pages, the better.  Think like a luxury home buyer.  What would they be putting into the Google search box?  Then make sure your land page turns up in the #1 spot on Google for those key words.  With Activerain, the Google juice is amazing, so always post your luxury listings on AR and carefully choose the keywords.

May 22, 2012 11:16 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Gail, 

Love this analysis, the only gaurantee is that the market will continue to change!

Very excited that you are doing so well in Black Rock.  

All the best, Michelle

May 23, 2012 04:08 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Gail, luxury homes require marketing coniosderably different than a conventional lower valued home, but what ever the home, if it's in the Black Rock section of Bridgeport, then you are the agent to call first

May 23, 2012 12:39 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Gail I have noticed this too in my area, the traditional luxury home brokerage now have competition from other tech savvy brokerages.  Love your analysis.

May 23, 2012 01:12 PM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Michelle - It bothers me to see sellers listing with firms that were effective in the past, but whose recent trract record shows they can't handle the new market realities.  Sellers don't know better unless we show them the statistics.

Ed - Thank you!

Jennifer - Some sellers still list out of habit with firms that are no longer effective.  I wish sellers would look at who SELLS the luxury homes, not just who has the most luxury homes listings (and ultimately expired listings).

May 23, 2012 02:52 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Congratulations on the Raveis's rise in the luxury homes market.  It is not just about listings, it is about getting them sold.  And the old ways don't work anymore.

May 26, 2012 07:37 AM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Jane - Thank you.  That is so true, but consumer still go by past reputation rather than looking at the track record of brokers.

May 28, 2012 11:10 PM