Olivela, a luxury merchandise platform, allows consumers to indulge their excesses while making the world a better place.
Typically, shopping at fancy designer boutiques and contributing to the welfare of the world’s most vulnerable or neglected people are at opposite ends of the spectrum of human behavior. But the website Olivela allows customers to shop for luxury fashion and beauty products, knowing that a portion of all proceeds goes to designated charities.
“Our reason for being is the good we’re able to do,” says founder and CEO Stacey Boyd, who previously founded Schoola, a second-hand clothing site that raises money for schools. “The way we were able to scale Schoola, from an initial five schools to more than 35,000 today,” was a model for Olivela, she reports. Her inspiration for the concept, however, was a visit to a refugee camp in Kenya where she met young Malala Yousafzai, who won the Nobel Peace Prize for her advocacy of education for girls and young women in developing nations. “I reached into my handbag for my cellphone to take a photo and realized that the cost of that bag could send a girl to school,” recounts Boyd.
After launching last year with 12 brands, Olivela now offers more than 200 luxury brands — iconic labels like Givenchy, Jimmy Choo, Prada, Valentino, and Burberry — and a portion of every purchase goes to one of the company’s affiliated charities. Olivela’s giving is focused on the Malala Fund, CARE and Too Young to Wed, all committed to ensuring that girls at risk of child marriage stay in school.
Boyd is pleased to see more companies asking themselves how they can contribute to urgent social causes without compromising their commercial success, and cites the example of Toms shoes, which donates a portion of profits to improve lives around the globe. “There’s an opportunity through commerce to do an amazing amount of good in the world,” says the entrepreneur, who genuinely believes in the power of giving. Olivela may, in fact, prove to be a model for a diverse range of ventures, whether Internet-based or brick-and-mortar.
Every piece of merchandise on Olivela is listed with the actual impact its purchase can affect, such as the 28 days of school funded by a $995 Ferragamo wallet. The shopper can learn which organization each purchase is funding, the nation the donations will be sent to and even the specific girl being assisted. “You’ll know, for instance, that you’re helping a 15-year-old Syrian refugee named Joury and will receive notice of her first day of school and see her report card,” explains Boyd. By allowing customers to monitor the progress of the individuals whose lives are changed by their purchases, a culture of accountability and connectivity is created.
“Educating one girl can help transform an entire village,” suggests Boyd, who insists education not only keeps young girls out of unwanted wedlock but helps them and their families overcome poverty. “When a customer is wearing a beautiful necklace she purchased from Olivela, she’ll be reminded of the impact it’s having on the life of a young girl, her family and community,” says Boyd.
Photos courtesy of Matthew Alland – Schoola
This originally appeared in Unique Homes Ultimate Issue 2018
Ditch overused gold and silver trends for charming copper hues that will add to your home’s modern, yet cozy atmosphere.
Copper’s versatility is why you should incorporate it into your decor this year. The range of shades, from pale soft tones to rich and deep copper allows for designers to work with a material and color that is complex. Silver and gold are classic, but copper is an exciting touch of diversity amongst tradition.
Copper Can Be Functional
The Hex Copper Bowl with a textured look and feel creates an eye-catching item that is unique and functional. The less-than-perfect surface of the bowl is what makes this piece interesting. The dents and bends in the metal create more than one shade of copper, which makes it more interesting than one smooth item.
Product: Hex Bowl Medium Copper
Copper as a Conversation Starter
The Tom Dixon Cast Shoe Copper is the perfect example of a playful way to bring copper into your decor. A conversation starter such as this would stand out perfectly against a navy blue wall or door. The item is cast iron, copper colored, and designed to be a door stop. This small accent piece could also help tie together other copper aspects in a room, including other shades of copper.
Product: Cast Shoe Copper
Ultra Sleek
The Copper Round Pendant is a perfect contrast to a rough copper bowl. The ultra sleek exterior of the pendant proves that copper is not restricted to a rustic feel. Reflective and chic, the pendant is also a conversation piece that will undoubtedly bring a modern feel to any room. Smooth and rough pieces can work together in the same space. Pairing these items is a creative way to reveal copper’s multiple layers.
Eclectic Addition
If you are interested in using new materials or fresh colors in a room, you don’t have to commit right away. Small items, such as these Eclectic Candle London Large are easily removed or changed if you’re undecided. Candles can also accent and play off of larger copper tones that you may integrate later. Small details are what makes a room feel complete and thoughtfully put together.
Product: Eclectic Candle London Large
Photos courtesy of Tom Dixon. Where to buy: tomdixon.net
Though simple and based around functionality, bathrooms are incredible spaces to decorate and explore with the imagination. With the fall season approaching, luxury brand Maison Valentina offers unique design tips to showcase the most popular 2018 fall trends that redefine the bathroom.
Mix and Match
As one of the most private spaces in the home, the bath is meant to reflect personality. As a result, the space isn’t limited to just one style or concept. Designers encourage homeowners to have fun and mix together aspects from different trends to achieve the look that most reflects you. Pieces from Maison Valentina’s ATO Collection are perfect for this, showcasing metallic finishes and stone/gem accents that are consistent in the industry.
Round Mirrors
When it comes to decor, mirrors are a necessity in any room of the home, including the bath. Whether you are looking to makeover the entire room or just want to update your style, an excellent addition includes the use of round mirrors. These types of mirrors are iconic as they add new dimension to any space. A room’s composition is naturally made up of straight lines and right angles, which is what makes a round mirror’s silhouette a welcome addition above a boxy chest or a linear mantel. As always, the bigger the piece the greater the impact.
Freestanding Bathtubs
This fall, bathtubs come back stronger by being more unique, comfortable and offering more space for ultimate relaxation. The freestanding bathtub has remained a consistent trend for bath designers, as it is found in a multitude of shapes: square, oval, round, asymmetrical or rectangular. To maximize the “wow” effect, designers often install these tubs in the center of the room as statement pieces.
Brass
Specifically regarding metallics, brass is having its moment. Sleek designs and minimal detailing ensure the brass look is contemporary and not too vintage. Classic, golden, brass tones that are warm and subtle can elevate the space to both look chic and pair very well with a monochromatic color scheme.
All photos courtesy Maison Valentina.
HGTV’s Ultimate House Hunt 2018 has teamed up with Luxury Portfolio International for the seventh consecutive year, kicking off the quest to find the ultimate luxury home in several categories, including waterfront homes, curb appeal, homes with history, and more.
Voters browse a list of some of the world’s most luxury homes and vote for their favorites, and then they are officially entered in a $10,000 sweepstakes. Each category features spectacular properties, and these three are just a few examples.
Amazing Kitchens
This kitchen is arguable the most important spot in the home, for gathering to share a meal and making memories cooking alongside loved ones. These state-of-the-art kitchens are nothing short of gourmet and stunning.
Mountain Views Kitchen in Avon, Colorado
$13,750,000
This six-bedroom home has unobstructed views of the mountains from its high-end kitchen.
Farmhouse Kitchen in Atlanta, Georgia
$2,675,000
A kitchen that combines modernity with rustic comfort, the exposed beams, vintage cabinetry and clean marble countertops make for a truly unique kitc
Waterfront Homes
Each property in this category showcases a beautiful waterfront retreat, from Sardinia to to Boca Raton. Some of the properties are:
Seaside Villa in Sardinia, Italy
Price Available Upon Request
The villa is secluded, tranquil, and utterly breathtaking, off of the Costa Smeralda.
Luxury Beach Home in Boca Raton, Florida
$11,500,000
This massive 10,780-square-foot mansion is move-in ready, surrounded by 202 feet of waterfront.
Modern Masterpieces
These homes were designed without tradition in mind, from the architecture to the finishes.
River Views in Quebec, Canada
$1,245,626
This property provides panoramic views of the St. Lawrence River from all three floors.
Sustainability in Dallas, Texas
$3,500,000
Each element of this home was locally sourced, so homeowners can be sure the environmental impact of this home was minimal.
Photos courtesy of Luxury Portfolio International
Luxxu, hitting the market of luxury lighting in 2015, is looking to bring unique Portuguese design to the global market. CEO of Luxxu, João Barros, discusses what is coming next for this brand and why this is a project of which he is proud.
Barros defines Luxxu as a luxury lighting brand, which later expanded into the luxury furniture market. “Today, the brand is separating the two concepts in two different brands, Luxxu Modern Lamps and Luxxu Home,” he said, a huge move for the company.
In a sea of luxury interior design brands, Luxxu is defined by its unique aesthetic. “Thanks to the timeless aesthetic that does not follow trends, the brand is gaining its place in the luxury furniture market,” said Barros.
Though Luxxu is a very recent brand, it has several defined bestsellers, most coming from the Empire collection. There are several other projects that Barros is very proud Luxxu has completed, from designs in Victoria Secret’s Bali to Four Seasons Beverly Hills.
Luxxu also collaborated with well-known luxury brand Swarovski to incorporate its crystals into some designs. Teaming up with this established brand is great news to Barros. “This exclusive consumer can consider us a trustworthy brand,” he said, “This partnership has a lot of unexplored potential that we will explore for Luxxu Modern Lamps.”
Reaching 3 million euros in sales as of last year, Luxxu’s value is exceptionally high for a new brand. Barros attributes the success to the marketers, the large focus on target markets, and the available customization options for clients. “Hours spent studying of the best strategies to grow in the design world have helped us to bring our unique designs to such an exclusive target,” he said.
In the future, Barros predicts many new releases for both branches of the brand. “In 2020, I foresee that the brand will reach high values in sales very superior to those we hit last year,” Barros said. “I also see in the future of the brand, stores or showrooms fully decorated by Luxxu. The entire Luxxu team sees the brand with a strong position in the luxury market.”
Photos courtesy of Luxxu
Capturing the charm of Silver Lake, Vica is a unique mixed-use real estate offering that will be the first new condominium development in the Los Angeles neighborhood in 10 years.
Vica, meaning “the life,” was developed to complement the eclectic vibe of the neighborhood and the community, according to Justin Barth, principal of Los-Angeles based developer Barth Partners. Barth, alongside Ireland’s Barry Leddy Developments, aims to fulfill the housing demands of the community and to create a living experience that articulates the style and personality of Silver Lake.
Vica is prominently located close to Hollywood and Downtown, amidst some of the most spirited coffee shops and contemporary eateries in the area. Designed by Killefer Flammang Architects, the development will boast 31 exquisite residences, as well as five penthouses, which will each feature an interior staircase that leads up to a private rooftop terrace.
Designer Laura Derland and the Loraline Design team have also created interiors that strike the perfect balance between masculine and feminine and dark and light within the communal spaces and residences.
The development’s amenities include a meditation garden, state-of-the-art fitness studio, The Lounge at Vica, a pool and spa observation deck, and a 3,000-square-foot, ground-floor retail space with unmatched outdoor dining experiences near Sunset Boulevard. Vica’s versatility makes it a standout development for an assortment of buyers, from entrepreneurs and professionals to young singles or couples.
“People longing for more connectivity with one another and the world around them will find Vica unlike any other available new living opportunity within Los Angeles,” Barth affirms. — Kristen Ordonez
Photo courtesy of Vica
Few estates can be considered a work of art, but arrive at the property featured on our cover and you find it takes a moment to take it all in. Ducks paddle in front of an antique millhouse next to a quarter-acre pond. Vine-covered bridges and stone paths twine among four cascading ponds. The setting is as idyllic as Monet’s gardens that inspired the landscape.
No matter where you are on this property, you are surrounded by beauty, along with blue skies and rolling mountain panoramas that comprise 360-degree views. Finding an estate so meticulously orchestrated is rare; even the hues of the roofs merge into a larger palette.
Inspired by the French Romantic period, the main house was completely reimagined three years ago when additional parcels were also acquired to transform the entire property into an ultra-private, 33-acre compound. Every finish is exquisite, superbly paired with the setting and endowing each space with a vibrant but balanced aesthetic. Even the kitchen, designed to evoke a French bistro and backed by professional chef’s kitchen, reflects the design inspiration, as do the parterre gardens and formal landscaping.
“What is especially remarkable about this property is everything you might not notice initially,” says Jordan Cohen, estate director for RE/MAX Olson and Associates in Westlake Village, who is the No. 1 RE/MAX agent in the U.S. The interplay between buildings and the land is dynamic but subtle. Off to one side lies an organic farm and orchard. From the main house, gardens and one of the two pools stretch out toward distant views. A pool house becomes the setting for an extensive spa including a Himalayan salt room. A second pool is adjacent to the 11,000-square-foot guest house.
Privacy and infrastructure were prime objectives in the creation of this property. The guard-gated entry road is part of the property and completely secure. A sagacious purchase of water rights, almost priceless in California, resulted in two municipal-quality 1,000-foot wells on the property. When viewed from the perspective of art, the $85 million offering price might be considered a bargain for a masterpiece of this magnitude. — Camilla McLaughlin
Photo courtesy of RE/MAX
Statement throw blankets are the perfect way to seasonally decorate, soften a space, and bring a personal touch into any room.
Is there anything quite as tempting as curling up on the couch with a soft blanket?
Throws are functional and don’t crowd a space as other bulky blankets might. With the right design, fabric, and color, throws are an easy way to spruce up your decor without committing to major design changes.
Ditch boring blankets for exciting prints and cozy materials. A thoughtfully placed throw can lighten a room for summer or bring a pop of color in the winter.
Stretching a few plush throws across any bed or couch can add layers and a decorative touch. Layering is a great way to mix and match designs and add complexity to your room. The additional warmth is an easy way to spruce up your everyday furniture. Pairing throw blankets with metal furniture or placing them against other sharp surfaces can create a contrast that will entice visitors to stay awhile.
Choosing different fabrics are another way to make a statement when selecting a new throw. Ultra soft or simple comfort can help set the atmosphere of a room.
Massimo Alba’s ‘Yes Yes Yes’ blanket and Coralie Miessen’s ‘Home’ blanket are fun ways to personalize your home.
And Oyuna offers a cashmere option known as the ‘Uno Throw’ that will encourage a lazy afternoon full of lounging. After relaxing, the ‘Uno Throw’ can be casually folded across bench seating to invite guests.
Photos courtesy of WallpaperSTORE* store.wallpaper.com
Residences at Prince Street. Photo courtesy Aaron Thompson.
Outfitting homes with an artistic ceiling creates a complete, dynamic space, often tying assorted aspects of home design together, from art to functioning space. In these examples, designers inspired to use interesting techniques have created complex designs that demand people to look up.
Gallery-Style Spaces
The character of a home is often shaped by the items inside it, including art or artistic detailing. Helping to define a home’s character, high ceilings within the home allow ample wall space for art lovers to adorn their walls with prized masterpieces. One example is seen in this Artefacto-designed residence in Bal Harbour, Florida, which boasts 10-foot-plus ceilings with customized panel backlights and recessed lights. The Oceana Bal Harbour unit also features floor-to-ceiling windows framing the breathtaking ocean and Intracoastal views.
Photo courtesy Barry Grossman.
Embracing the Outdoors
A space can evoke different feelings depending on the environment, both inside and out. To embrace the elements, some spaces utilize the outdoors by bringing them in. Miami’s Brickell City Centre boasts a $30 million climate ribbon, a steel-and-glass elevated trellis that hovers over the retail center. An achievement in artistry and first of its kind, guests and residents of Reach and Rise can gaze at the sculptural element, as it protects them from inclement weather, captures sea breezes to regulate air flow and temperature, collects rainwater for reuse and allows them to enjoy natural light in an open-air environment.
Photo courtesy Brickell City Center.
Smiling at the Past
Historical architecture is highly appreciated in the design industry, as it creates a traditional atmosphere for designers to either enhance or refresh with modern additions. These traditional styles of architecture extend into the home, seen through classic ceilings that add a unique element to the space. Residences at 62-66 North Third in North Williamsburg, New York, feature exposed, high concrete ceilings as a nod to the neighborhood’s industrial past. The residences embody a sense of character, design, and detail that combines modern and traditional Williamsburg in these expansive homes.
Another example with an authentic ceiling design is in this top-floor townhouse at the Residences at Prince Street, formerly part of St. Patrick’s Old Cathedral. The gabled ceilings with exposed wood beams reflect an authentically of the period; existing moldings and details were replicated throughout to create a top-floor living area with skylights and a cozy feel.
Photo courtesy MNS.
The practice is not new, but the frequency and acceptance of pocket listings has grown.
By Camilla McLaughlin
Off market … private listing … coming soon. These phrases in high-priced markets characterize properties offered for sale, but not publicly listed in the traditional manner in the MLS. The way these listings are perceived has changed significantly in the last 10 years.
Even after the advent of formalized platforms such as the MLS, the most expensive properties were often closely held, giving rise to the term “hip-pocket” listing. Traditionally, in the industry, pocket listings have evoked concern that unscrupulous agents would keep them in house and pocket the entire commission.
Post recession, the number of pocket listings seemed to increase exponentially; most in the industry remained skeptical. Today, the terms “off-market” or “private” listing are often used instead of pocket, and, in a number of places, it is becoming an acceptable — some would even say savvy — marketing strategy.
“Now I’ve noticed it’s really changed and it’s a lot more accepted,” says Patrick Ryan, senior vice president and managing broker, Related Realty, Chicago.
“It’s certainly become a very big part of our market, and it’s not something we’re necessarily driving. We’re being led by what the sellers want,” says Chris Dyson with The Agency in Beverly Hills.
In a survey of members conducted by the Institute for Luxury Home Marketing (ILHM) for Unique Homes, an overwhelming majority, 97 percent of agents responding, said private listings were part of their market. A third indicated there were only “a few,” while 17 percent saw it as a growing trend.
“As I travel around the country training agents from a variety of other states, I hear differing opinions,” says Florida agent Tami Simms with Coastal Properties Group International in St. Petersburg, who is also a trainer for the Institute. “In some markets, it works in a positive way, and in some markets, it’s considered to be underhanded.”
In the ILHM survey, 38 percent of respondents agreed that industry professionals looked more
favorably on off-market listings. About a quarter disagreed with this statement, while 35 percent neither agreed or disagreed.
The latest twist in off-market properties are platforms and professional networks, accessible only to licensed agents, designed to facilitate the sharing of information. The Top Agent Network, a national affiliation of agents in the top 10 percent of the market, is a forum for premier agents to exchange information. Additionally, networks formed just to publicize off-market properties are popping up in hot market cities such as Austin.
In August, several agents from The Agency in Beverly Hills launched thepls.com, the Private Listing Network. In little more than six months, the network claims 600 active listings worth $3 billion. Approximately 5,000 agents have signed on to the service. “Information shared on the platform is information they already email to one another on a daily basis,” says Dyson, who founded the network along with James Harris and Mauricio Umansky of The Agency.
“We have always had off-market activity. However, I think it is even greater right now,” says Meghan Bach with Colorado Landmark, Realtors in Boulder. Not only have they become more common, but there is greater acceptance among consumers. “People used to think they were Realtor-driven and that the listing agent was trying to double-end the sale. This is very much not the case today. It is seller-driven,” says Bach.
Ask agents about off-market practices and responses vary by location. In Palm Springs, Lucio Bernal with Coldwell Banker Residential Brokerage says, “We typically do not see off-market as being common in the valley. Privacy does not seem to be an apparent issue here.”
On the other hand, in Los Angeles’ platinum locales, Bob Hurwitz, founder and president of Hurwitz James Company, says, “Off market, a.k.a. pocket listings, have become so popular that the terms are basically oxymorons. It is frankly ludicrous.”
Technology also plays a role in this trend. “There have always been pocket listings, but it’s a little more evident now because of our electronic world and the fact that information is so immediate and widespread. The truth is if a house is of any substance, it generally doesn’t remain private,” says Joyce Rey, executive director, Coldwell Banker Global Luxury.
Lack of inventory is also boosting interest in private listings. Boulder has seen 10-plus percent appreciation year-over-year since 2013; demand still far exceeds inventory. “Good products fly off the shelf, so having a pocket that brokers chat about, and get under contract fairly hassle-free is ideal for sellers, particularly in the high end,” says Bach.
In Atlanta, Jaime Turner and Heather Armstrong with Engel & Völkers find, “The shortage of inventory is worrisome to both buyers and sellers. Sellers are hesitant to list and sell without an identified home to move to. By using an off-the-market strategy, sellers are able to command a price that gives them the comfort of selling while they look for a home to purchase. Buyers like it because they feel like they are getting ahead of the curve and are able to see a home that has limited showings. It has also been a good tool for us because when we have a seller that is concerned with finding a home, we utilize our agent connections and resources to locate the right home for our seller.”
For properties not in a luxury price bracket, off-market might not be the right route. “In the lower end, anything below $1.5 million in our market, coming to market creates a bidding war and advantageous sales prices for sellers. The higher end, $2.5 million and up, sells word of mouth and pretty close to where initially priced,” says Bach. Even for high-end properties, she says, “I do see huge value in coming to the market and being broadly online. That said, when there are privacy issues — divorce, job transitions, health issues — off market makes so much sense.”
Desire for privacy remains a major incentive for sellers. According to research from Luxury Portfolio International, privacy has never been more important to wealthy consumers who are also concerned about identity theft.
This desire has fueled an increase in requests from high-end sellers asking agents to privately market their homes. “Sellers actually demand it more than a Realtor suggests it to them,” explains Ryan. “They don’t want to be bothered with people just going through the house. They don’t want it to be a museum tour, so they instruct agents to be strategic and not make property information available to the public.”
Some contend not being available to the general market potentially enhances a home’s cachet. “A lot of buyers want something that they officially can’t have. Anyone that can essentially offer something that not everyone else can have, has a unique value in itself,” says James Harris. “The reality is the less you can tell people, the more exclusive it becomes, and the more people want it.”
But restricting information about a property to a limited audience is not without risk. “It’s a two-edged sword for sellers,” says Rey. “Is privacy worth getting less money for their home? If they do not get wide exposure, they may not be getting the best price.” “It also defies logic,” says Hurwitz. “The more qualified buyers who can find a property, the more likely a sale. If a property is not visible to agents with a qualified buyer, they aren’t going to know about it and will sell something else they can find.”
“I also hear a variety of opinions. Some sellers like the idea of avoiding showings, open houses, etc. (for privacy and convenience) if they can get a price they’re happy with without listing on the open market. The opposing argument tends to be that not offering it on the open market isn’t working in the best interest of the customer if there could be better terms/conditions in a wider pool of prospective buyers,” says Simms.
Even those who express concern about this approach recognize there are situations in which not being on public platforms is a strategic move. Hurwitz has used pocked listings on rare occasions for celebrity clients who wish to remain as anonymous as possible.
“Sometimes certain types of clients are not really comfortable having lots of people come see a property,” says agent Jennifer Ames with Coldwell Banker Residential Brokerage in Chicago. In instances like this, Ames says she will do a marketing campaign directly to agents who work in this price bracket. Invitation-only previews of big, exclusive properties are a traditional avenue to publicize properties.
Luxury properties often take significantly longer to sell than those priced close to the median.
According to research from Concierge Auctions, average days on market for the highest-priced properties in top markets hovers around 522 days, ranging from 55 days in San Francisco to 1,062 in Nashville.
Once a home is listed on the MLS the clock begins ticking on the number of days on market. “The way the market works in the U.S., if you go on the market everything has to become public. Not just the price and the address, but the days on market. The longer a property is on the market, the more detrimental it becomes for the property,” explains Harris.
Being on the MLS opens the door to inclusion on public platforms including Zillow, Trulia and many others. Along with days on market, changes in photography, prices, and broker representation are all tracked. “We’ve started to realize more and more with the Internet, you want to have all your ducks in a row before going on the MLS,” says Ryan.
“Coming soon” has become an official category incorporated into a growing number of MLS systems. “We see a lot of Coming Soon strategy as opposed to off market in Florida,” says Simms. “I believe that the off-market approach is more appropriate for properties that are particularly expensive and/or unique, which would likely end up having a tremendous number of days on the market if listed traditionally.
Initially offering a property off market is considered an effective method to test a price. “If you are trying to get a very aggressive number for your house, you may want to start off market to test the price,” says Harris. Agents also use this strategy when an owner has a much higher price in mind than the market will likely accept.
“It’s a way to test the market without going on record,” says Ames. Another circumstance that could call for an interval of off-market strategy, she says, is a situation where owners don’t actually plan to move for months, but still want to give the property exposure.
In the pre-Internet era, agents relied on phone calls to agents who worked in similar price brackets. But, “you could only call so many people and network so much,” shares Ryan. Today, robust CRM systems give agents a laser focus on most-likely buyers. Additionally, national brands and affiliate groups promote networking among agents both nationally and internationally.
More formalized networks and platforms such as thepls.com are a way for agents to keep track of what’s available. For example, in Los Angeles, agents might receive hundreds of emails a week regarding off-market properties. “The PLS is essentially a place where agents can put information, so it can be searched when another agent needs it. That was really the motivation behind it,” says Dyson.
Tried and true methods to ensure those who work in luxury are aware of new listings, both off-market and publicly listed, remain the most important marketing tools, particularly for well connected agents.
Will the penchant for private listings continue if markets cool? While blockchain reduce reliance on the MLS? Both questions point to variables that could affect the off-market trend in the future.
The “Market Maker”
“Market maker” is the way Robert Dankner characterizes what he does. Dankner, president of Prime Manhattan Residential, takes off-market to the next level by finding and creating opportunities for buyers and sellers in tight markets in New York City. “There are a lot of people looking for the same thing that doesn’t exist, which is why they’re all creating things for themselves,” he says referring to the boom in renovations.
Dankner sees market potential others often overlook and is equally skilled at bringing clients —buyers and/or sellers — together, crafting a deal advantageous to both. “In my world, off-market is something that not everybody can do. In addition to obviously being extremely well connected, you have to have a memory like a computer because as things arise on both sides of the equation, you have to be able to mix and match very quickly to see what can be put together. It’s just a matter of having the resources and tools to know where and how to hunt. There’s no algorithm, no smoking gun. It’s just a matter of understanding every nook and cranny from the standpoint of things that used to be on the market or understanding through connections who, what, why and where somebody might be willing to part with something under the right conditions.”
Photos courtesy of iStockPhoto.com
