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The luxury real estate space comes with many opportunities, but there are challenges as well: for example, how can you bring more potential homebuyers to see properties in a destination or remote market? The answer may be simpler than you think: invest in virtual technologies.
That’s certainly the view of David McHugh, a real estate professional with LIV Sotheby’s International Realty in Vail and Beaver Creek, Colorado. “Vail and Beaver Creek is a second-home market,” he explains. “90% of my buyers don’t live there. And that’s really where we embrace technology, to get in front of those people. It saves them time.”
Virtual reality enables clients to experience a home for the first time without having to travel to it — but more than that, it’s exciting and offers clients a unique means to engage. “Many people have never experienced virtual reality,” says McHugh. “It’s a much easier way to start a conversation with someone when they try something new that they’ve never done before.”
To him, the return on investment for these tools might as well be a thousand to one. “I always want to be so far ahead of everyone else that I’m not worried about the broker at some other company, and that’s the game changer.”
About Sotheby’s International Realty
Sotheby’s International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby’s auction house. Today, the company’s global footprint spans 990 offices located in 72 countries and territories worldwide, including 43 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby’s International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby’s International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby’s International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Sotheby’s International Realty Affiliates LLC and Sotheby’s International Realty Inc., both fully support the principles of the Fair Housing Act and the Equal Opportunity Act.