Las Vegas, Nevada took one of the hardest - if not, the hardest - hits when the housing bubble burst. While some Las Vegas real estate businesses went under, Lee M. Medick and her high-end boutique firm, Luxe Estates Collection, stayed afloat. "When markets are tough, that's when I increase my print exposure," Lee told us in an exclusive interview. "In troubling times, people like to hold something in their hands. There's something tangible about flipping the page and seeing the beautiful photos - it's the tactile magic of print."

duPont REGISTRY™: Give us a snapshot of the high-end market in Las Vegas and how it is changing.

Lee M. Medick: When the country's economy began its freefall, Las Vegas braced itself as elegantly as it could while its housing market took a showgirl stage tumble. Now, four years later, Vegas is rebounding. Homes are on the market fewer days. We're seeing cleaner offers and quicker closes. In the $1M+ home market, it's mostly cash. With inventory lowering and savvy investors gobbling up inventory, the time to buy is now. I can't emphasize this enough.

How has the web changed the buying and selling of high-end properties?

First of all, 92 percent of the buyers in today's market have researched their home on the internet and have a good knowledge of the market before they pick up the phone. This allows me to better understand their requirements, including the neighborhoods and specific properties that will fit the family's lifestyle. Today's home buyers are smart. They typically come to me with three or four homes in mind. This allows me to be efficient. My client's time is valuable. Everyone wants a smooth process. The more efficient I am, the more confidence I instill.

What do you say to a home buyer who is on the fence about making an offer?

I usually start by saying, "Let's step back and look at the big picture. What do you want in a house?" Homes are an emotional purchase. So I start with an emotional appeal - why I think this a great house for them. But then I back up emotions with facts, facts, and more facts by providing statistics that reveal why they are in a strong position to make an offer. I know it's emotional for the buyer, but I see their concerns as an asset. I want to be sure I am making the best deal for them. Statistics put things in context. Every seven years, for example, markets take a dip. Understanding the market - the cycles - can help buyers feel more confident about making an offer.

What do you say to sellers who want to price their home too high?

This is a delicate issue. I might say, "If you had approached me three years ago, and we were having this discussion about the value of your home, you would have been spot on. However, I need to show you similar homes in your market, what they have sold for recently, specifically in your neighborhood." Then I'll walk them through the original listing prices and what the final sales prices were for those houses. When you know the local market, you can set expectations for what the market will bear. Here's something I live by: List to sit on the market, or to sell now!

What questions and concerns do prospective clients typically bring to you, and how do you win their confidence?

Again, it's a blend of the emotions and logic. When I am talking to a prospective buyer or seller, I always sprinkle in a few of my recent sales to validate what I say. Right then, I put my clients at ease.

What new approaches does it take to be a successful luxury Realtor today?

Luxe Estates Collection has developed a team approach pulling exclusive high-end Realtors and combining their talents to best service the $1M+ market. With our top-producing agents worldwide, Luxe Estates Collection offers buyer/celebrity representation, an e-marketing guru, a professional writer, a commercial development specialist, and a contracts-and-negotiation veteran.

You've been highly successful at marketing yourself and your firm. What is your strategy?

Exceptional homes require exceptional marketing. A real estate firm needs to stay relentlessly consistent with its message, online and in print. Marketing is all about repetition and looking for the unique selling proposition. If you keep visible with a strong messaage, then you're going to get a call when a prospect sees the ad and the timing's right. When markets are tough, that's when I increase my print exposure. In troubling times, people like to hold something in their hands. There's something tangible about flipping the page and seeing the beautiful photos - it's the tactile magic of print.

Why do you advertise with the duPont REGISTRY™?

Because the duPont REGISTRY A Buyers Gallery of Fine Homes® works! Last month, a client called and wanted me to list his home. When we got together, I asked him what prompted his call. He showed me a copy of your magazine and thumped it down on the table. "I love this magazine," he said. "And I want you to list my house."

This is one great reason to love the duPont REGISTRY™, but there's more to it. To sell luxury homes, I need to reach beyond the Las Vegas market. I need to find the wider audience, nationally and internationally. With the duPont REGISTRY™, the research and homework are done for me. If I want to hit a specific luxury market, I know the magazine will get in front of the right people. That's very important. I also like the fact that the duPont REGISTRY™ thinks outside the box. You take the homes magazine to luxury car and boat shows. Celebrities read it. It goes into locker rooms and airport lounges.

In the end, it's the return - the bang for the buck - that keeps me coming back to the duPont REGISTRY™. When you are looking at a beautiful ad, you can get lost in the moment. That's powerful. On the internet, there's a lot more competition for a prospect's attention. Of course, I also do online advertising to complement our ads with the duPont REGISTRY™.

Thinking about how you have built your business, what are you most proud about?

Luxe Estates has a strong reputation. We're respected in the industry. In recent trying times, we've perfected our unique business model. We're a boutique real estate brokerage - our mission is the quality, not quantity, of listings. For international coverage, we take a team approach. We can pick up the phone and call someone in Chicago or Cancun. I uniquely package and show the homes I represent. I know everything there is to know - even the invisible things like the air filtration systems.

I just picked up another celebrity listing. We discussed what sells, what doesn't sell. It was all very straightforward, and we got along fabulously. That combination of personal attention and local knowledge is what builds the relationship - and ultimately builds the business.

What keeps you motivated when times are particularly tough?

I love my job. Every day the phone rings, it's a thrill. My motivation is a result of the power of positive thinking... that's where it all starts.

Luxe Estate Collections • lee@luxeestatescollection.com

A property offered by Julie Jones of Premier Estate Properties in Fort Lauderdale, Florida that was featured on the front cover of the duPont REGISTRY A Buyers Gallery of Fine Homes in May 2011.

Congratulations to Julie Jones of Premier Estate Properties in Fort Lauderdale, Florida! She recently sold one of her properties as a direct result of her advertising in the duPont REGISTRY A Buyers Gallery of Fine Homes®. We interview her to see what she's doing to advertise her listings to stay ahead of her competitors in this tough market.

duPont REGISTRY™: How long have you been advertising with the duPont REGISTRY™?

Julie Jones: I have been an advertiser for seven years. My business has grown quite steadily during that time. I am ranked as one the top 100 agents in the United States, and that does not happen without extensive marketing.

The duPont REGISTRY™ has always been so supportive.  I have advertised elsewhere—in a number of publications in the United States and Europe—but yours is the only publication where buyers come to me, magazine in hand. Not long ago a delightful couple from Texas called me after seeing my ad in the duPont REGISTRY™. They wanted someone who really knew the area, and felt confident in calling me about finding a perfect South Florida retreat. After flying here and looking at several homes, they selected a beautiful waterfront property in Harbor Beach. We closed just last week. The duPont REGISTRY™ gets results—it is that simple.

dR: How do you develop and track your marketing programs?

JJ: These days, any marketing plan needs a print element, an internet element and direct mail. I use duPont’s full program to reach potential buyers in the United States and internationally.  A recent analysis of the past three months showed that nearly 30 percent of my inquiries overall came from the duPont REGISTRY™, with buyers from the United States, Dubai and Europe.

I always try to track where people hear about me.  Some just say, ‘I saw you on the web.’  It depends. The younger buyers often remember. Demographics are showing that magazines are attracting a younger readership. That is good news for print. 

dR: How is the web changing your role as a market expert?

JJ: The web has changed how people look for properties.  Buyers generally know what to expect from a luxury home purchase. They are aware of the amenities, the finishes, the appliances.  Their research affects how you present yourself as a market expert. I aim to give them what they cannot easily find on the internet—local market information, listings not publically on the market, community information, market values, and so on. I also use the duPont REGISTRY™ to track what other luxury brokers are doing and the pricing in their luxury markets. The magazine is a wonderful market reference.

Sometimes the web can be confusing to potential buyers.  Zillow, for example, is not always up to date or accurate. I spend a lot of time re-educating people on the market.  I also give them a sense of Ft. Lauderdale—what the area offers, especially for buyers looking for a second or third home.  About 25 percent of foreign investors are buying here. We see a lot of interest from Russia, Canada and, more recently, China.

The stunning contemporary residence that was featured on the front of the summer waterfront issue is still getting inquiries, especially from Europe and California, after all these months. That speaks to the shelf life, the longevity, of the magazine.

dR: As a long-time advertiser, what else keeps you coming back?

JJ: Your front covers are totally dynamic! It is not unusual to see the magazine on a coffee table, like art. The covers, the photos… they are so beautiful. And they are a great endorsement for the person advertising. The quality of the editorial has been wonderful as well. Editorials support my brand and give potential buyers information they cannot readily find elsewhere. High-end buyers need to feel confident that a particular property, in a particular location, is a good investment.

dR: What is ahead for your market?

JJ: Last week I spoke with a luxury-home appraiser.  He reported that the appraised values of waterfront properties in the Fort Lauderdale area have stabilized, with only a slight decrease.   In this area, foreclosures are in the single digits. Inventory levels are dropping—all very positive signals.  

Next year has the potential to be a very strong one because a lot of people are moving forward with their purchases. They are getting off the fence. Prime properties are receiving offers. An associate in Naples is seeing the same pattern.

dR: Is there anything else you would like to say?

JJ: I am sitting in my office now, looking up at the big display boards that you send whenever we do a cover. I have three of the boards hanging on the wall right now. They are so beautiful. When people come to visit, they are stunned by the design and quality of the cover design. It stops them, always in the best way.

For more information on cover opportunities and advertising, click to here.

You own lakefront property and want to trade up for an ocean view...

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Yet the economic climate has influenced the way nearly everyone shops for real estate. Toay's affluent consumers are as respectful as ever, and demand top quality and value in their real estate transactions. They seek agents who are known for their professionalism, integrity, accountability and performance in luxury real estate. They want agents connecte to a strong Network with distinction in the marketplace.

Prudential Real Estate Fine Homes Specialists represent one of the nation's largest and most influential brokerage networks and is a hotbed for ongoing referrals of luxury market exposure. The Network spans North America with more than 1,600 offies, and its reach extends to affluent consumers around the gloe. Of course, our Fine Homes Specialists are backed by the Prudential brand itself, one of the world's most recognizable icons representing strength, stability, integrity and trust - timeless qualities that truly matter.

Networking and continuing education help our professionals hone their skills and value proposition. Fine Homes Specialists exchange best practices and marketing concepts through the Network's online business community, and they may participate in a variety of Network-hosted educational events focusing on trends and techniques for maximum success. Their work ethic is as strong as their desire for continuous improvement, and that pays off every day for luxury-home consumers.

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Despite the significant challenges confronting the broader real estate market, a new single-purchase record was just established in St. Petersburg, Florida. Listed by Eileen Bedinghaus of ReMax Metro, the magnificent residence at 2040 Brightwaters Boulevard sold on Friday, August 5, 2011 for $9,000,000. The previous record was a $5,300,000 property, which sold in March 2006.

The 6-bedroom/8-bath home is located on a 1.6-acre waterfront property on prestigious Snell Isle, just north of downtown St. Petersburg. Boasting 12,412 square feet of gracious living area, the residence, known as Villa Terranova, features Mediterranean Revival architecture, 2,400 feet of covered loggias, well-equipped summer kitchen and Olympic-sized swimming pool. And with 380 feet of waterfront along Snell Harbor, the property can accommodate a 112-foot yacht, 45-foot boat, plus an additional boat on the lift. Although the home is undeniably impressive, Bedinghaus employed a full arsenal of resources to accomplish the sale.  

"I combined time-tested marketing practices with advanced technologies to sell Villa Terranova," she said. "It takes a very targeted and intelligent approach to reach buyers of the finest luxury properties."

The 27-year real estate veteran, who has also marketed noteworthy properties like condominiums at Vinoy Place, The Grande on Sand Key and the Tides Beach Club, first assembled an experienced advertising team to create a communications campaign. The writer and art director produced an elegant two-page cover spread in the duPont REGISTRY magazine to provide exposure to affluent buyers.