A Post-Meltdown Success Story
After the downturn, we dominated the market with 249 sales for $24 million in just 11 months.
• Dramatic post-meltdown sales success in the heart of the foreclosure crisis
• Previous real estate group had sold just one unit in the first six months of 2009
• 249 remaining units sold in less than one year
• Marketing generated more than 3,000 qualified leads and 1,500 onsite tours
• 18.6% sales closing percentage
• We came into the project with no sales momentum
• Incumbent listing broker had just one sale in the previous six months
• Limited marketing budget meant all outreach had to be local
• Studying the market we determined that short sales and foreclosures accounted for over 70% of all condo sales in previous six months in Cape Coral.
• We positioned Concordia to be attractive to visiting investors looking for short sale products
• Further analysis indicated investors were frustrated at lack of choices available in local short sales and foreclosures. Many foreclosures had title encumbrances