Can You Do It?

Posted by Michael Saunders & Company on October 1, 2009

MSC BEST OPPORTUNITY - 1143 CASEY KEY RD, NOKOMIS, FL

Can you effectively introduce a business unit which is counter-intuitive to the very foundation that your company was built on? The answer is an emphatic YES! Michael Saunders and Company started in 1976 as the premier luxury real estate firm serving the Sarasota elite and expanded over the years to meet the demands of the affluent along Florida’s Gulf Coast.

For years, their sales price has been significantly higher than the MLS in all areas serviced and $1MM+ sales were the norm. But even then, while known as the luxury leader in Sarasota, they did in fact handle less expensive homes by appealing to the wants and needs of those buyers.

In 2008, in response to the changing real estate market, the company continued to adapt to the times by actively seeking and obtaining key REO accounts to augment revenue. By creating a completely separate division (BEST Opportunities & Bank Owned Properties) with a unique logo but similar color scheme, MS&C has successfully integrated a profitable division which might to some seem, detrimental to the core foundation on which the company was built. As a result, their market share continues to grow while their competitors on the sidelines look on.

Since the inception of the program, MS&C has experienced a 35.8% closed conversion rate for properties in the program. According to recent website statistics, a Best Opportunities property attracts 4-5 times more visitors than an IDX listing. In addition to this, clients stay on a Best Opportunities property detail page 35% longer than IDX listings and 97% of the visitors view two or more properties.

“Our mission is to be the market leader,” comments Michael Saunders, “and that requires us to be nimble in dealing with whatever market is handed to us. But we believe we can still do that in the context of the brand we have built…as the brokerage of choice of the most discriminating consumers.”