Expert: Karyn Foley - 2/20/2004

Question
marketing homesites Treasure Coast  of FL at $600,000, 40ft boat slip included - spec homes from 2.2m to 9.5m. Primary goal - sell  homesites. Who and where are the ideal prospects - age, income, home value. Most effective ways to reach them?

Answer
Dear Margaret:  I wish I knew if you were the developer, builder, agent or one of the investors.  If I knew, I could be more specific and direct you accordingly.  However, I do specialize personally in high end properties in premiere communities, so perhaps I can help a bit.  You should focus on young professionals, who could be reached via the Wall Street Journal and the New York Times.  Also, if you are associated with a major real estate company, there are the glossy coffee table type magazines that showcase these types of properties.  Athletes are also major buyers, so look into sports journals or magazines who advertise locally or on a more national basis.  Entertainers are always on the lookout for splashy estates, and you might consider advertising in the Los Angeles periodicals such as the Hollywood Reporter and/or Daily Variety.  Adding pictures are a help.  Make arrangements with a company that can do a video for you, and make copies so that you  might be able to send it to interested parties in the mail.  A picture taken from an airplane also adds to the allure, and can show the surrounding landscape.  You can also think about sending a personal letter along with a professional brochure to entertainment lawyers, accountants and business managers.  They are always on the lookout for ways their clients can invest in properties.  Do not overlook the older generation.  People are "staying young" and thinking young a lot longer now, and they also have a lot of money to spend NOW rather than willing it to others along the line.  Find the top agents in all of the upscale communities throughout the states, such as Palm Beach, the Hamptons, Beverly Hills et cetera.  Send them a prospectus and encourage them with a commission or referral fee.  The key here is to go big and go global.  Good luck to you!!!  KARYN FOLEY