Realty Times June 26, 2008

The Dream Catcher Series: Creative Event Planning in a Challenging Real Estate Market
by Wanda McPhaden

Selling real estate in today's market -- particularly those properties at the high end of the price spectrum where most of the action is -- requires a new set of skills to close the deal.

Many successful realtors are getting more creative with their tried and true marketing tactics, but I've found , especially for upscale priced properties, that it will take something truly unique and fresh to attract buyers.

Let's look at what some call "creative event leveraging."

Call it what you will, but these events require far more than an "Open House" with hors d'oeuvres, balloons, and a glass of chardonnay.

Earlier this year, I launched "The Dream Catcher Series." It's a series of four annual events -- one per quarter -- that are designed to help participants not only capture their dream house, and the accompanying lifestyle, but also provide information and networking opportunities that will help them protect and leverage their assets in today's economy.

The goal for my events is to bring together high net worth individuals who can connect, network, and share strategies for financial success and offer them the inside track on premier real estate investments in communities so high end that they have been unaffected by the sub-prime mortgage storm.

My setting for these events is a home, either finished or under construction, in prestigious communities in shoreline Fairfield County, Connecticut. These towns, like Westport, have the right combination of location, marketability, and continue to hold their upscale value. The unique aspect of the Dream Catcher Series is that it goes beyond the classic networking event and offers educational and charitable components too; these are opportunities that set Dream Catcher apart and allow me to integrate one of my greatest passions -- education.

The target demographic for Dream Catcher events is individuals with the financial means that insulate them from the volatility of the real estate market. The ideal Dream Catcher guest is in the market for a luxurious, high quality home for use either as a primary residence or a weekend getaway, located in a tranquil, yet cosmopolitan community with close proximity to New York City. Second best is a high net worth individual who may not currently be shopping for a new home, but may be on the lookout for a savvy real estate investment.

The first event in the Dream Catcher Series was held this past February in Westport, and was attended by 100 high net worth individuals on a Friday afternoon. (Research tells me that Friday afternoon events are most popular for business executives -- a fact supported by the terrific attendance at this event.) The event began with group tours of the property -- in this case an 8,500 square foot Georgian colonial with a wrap-around porch, 5 bedrooms, a library, gourmet kitchen, an elevator, and home theatre with a price tag of $4.5 million.

Following the tour, potential buyers enjoyed conversation, cocktails and canapés set to live music. The afternoon concluded with an expert explaining the pros and cons of 1031 exchanges and answering questions. The event included a raffle for the use of a new Porsche Carrera for the weekend with the proceeds given to a local nonprofit that serves battered and homeless women. In this economy, charitable works are more important than ever, and a raffle of some sort will remain a key aspect of Dream Catcher events, further setting them apart.

The second event in the Dream Catcher series took place last week. Following a tour of the property, guest were entertained with live classical music, hors d'oeuvres, and cocktails while two expert art appraisers gave a presentation on "Trust & Estate Planning: The Art of Appraisal and Factors that Give Value to Art." That informational presentation was followed by a raffle with the proceeds given to another local charity.

One of the most important aspects of these events actually takes place several days later -- the telephone follow up by members of my sales team from which they will identify which invitees came for the networking and information aspects of the evening and which ones are potential buyers of the property featured.

For future Dream Catcher events, my company will partner with top local real estate agents, interior designers, attorneys and professionals in the world of banking, investment and finance to create an information-rich experience that they will enjoy and remember, even if the real estate property being featured is not their cup of tea. Future topics may include building or renovating "green," investing in a variety of real estate opportunities, strategies for other investment instruments, or any subject that our audience will agree was a prudent investment of their time whether they bought the property or not.

Whatever you're doing to find traction in the current real estate market, one of my favorite aphorisms still applies: It all starts with believing. You either believe you'll be successful or you don't. Either way, you're right.



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