Less than 10 years ago, Realtors were concerned that the Internet would make their job obsolete, but just the opposite has happened. Rather than replacing the Realtor, the Internet has enhanced their ability to do their job, making their services even more valuable.

Although the Internet gives those who choose to sell on their own opportunities to promote their properties that didn’t exist in the pre-Web era, the number of buyers and sellers using a real estate agent or broker has remained constant over the last 10 years, while the number who opt to sell on their own has actually declined from 11 to 7 percent, according to the National Association of Realtors (NAR) annual survey of buyers and sellers.

The 2007 NAR Profile of Buyers and Sellers shows that real estate professionals continue to be integral to the sales process with 79 percent of buyers and 85 percent of sellers using the services of an agent or broker.  The majority were also satisfied with those services with nine out of 10 buyers and eight out of 10 sellers reporting that they would definitely or probably use the same agent again or recommend him or her too others.

Internet users are actually more likely to use a real estate professional. NAR found that among buyers who used the Internet to search for a property, 82 percent purchased through a real estate agent compared to 65 percent of non-Internet users. Typically buyers start their search online, with 84 percent using the Internet, and then switch to an agent.

Among luxury buyers, according to research conducted by Unique Homes, 40 percent use the Internet to find an agent and 73 percent use real estate Web sites when buying or selling a home. One in four found their home in a real estate magazine or a real estate magazine’s website.

When NAR asked about the benefits provided by agents, 57 percent of buyers in all price ranges said the agent helped them understand the process, 47 percent said their agent pointed out unnoticed features or faults with the property and 40 percent reported the agent improved their knowledge of search areas. Other valued services included: negotiated better terms, 38 percent; shortened the search process, 35 percent; and negotiated a better price, 32 percent.

Sellers who used an agent typically received a higher price for their property. The median sale price for a transaction involving an agent was $242,000, compared to a median price of $180,000 for those who chose to go it alone. Even lower still was the median price for sales in which the parties knew each other.

—Camilla McLaughlin

I read this today about how the downturn is prompting some homeowners to do renovations they have put off for years. Building costs are down, prices for materials are down, and apparently contractors are even giving in a bit on labor costs.

An interesting piece…

http://www.realestatejournal.com/buildimprove/20071130-lin.html?rejcontent=mail

Who’s Who in Luxury Real Estate, one of the leading networks for brokers & agents who handle luxury estate properties will be hosting a European conference come January of 2008.

The conference, to held in Austria will bring together some of the premier luxury professionals in what will be one of the more compelling networking events of the year.

For more information about the conference, visit them online at www.luxuryrealestate.com

Speaking of top producing agents, Shari Chase of Chase International (a Who’s Who member) was named by Inman News as one of the top 100 leaders in real estate.

Pat Choi, also a member of Who’s Who in Luxury Real Estate was named one of the top 200 in real estate by The Wall Street Journal and REAL TRENDS. Pat, who is partners in the business with her husband was ranked #12 for 2007 out of the 200 agents named during a press conference and reception at The National Association of Realtors (NAR) Convention in Las Vegas earlier this month.

Choi produced over $135,000,000 in sales volume in 2007.

Finally, Jeff Barnett of Alain Pinel Realtors (www.apr.com) was named to a 10-member Financial Policies Subgroup by NAR to form a credit union for the organization’s 1.3 million membership.

A fast-moving wildfire pushed by Santa Ana winds raced through the luxury enclave of Malibu, California early Saturday morning destroying over 50 estates and evacuating nearly 15,000 residents of this exclusive beachfront community in Los Angeles County.

The fires started about 3:30 Saturday morning as seen by Unique Homes Director of Sales Nick Antonicello, a resident of Venice Beach.

“The skies were brightly lit by a full moon and red fires that engulfed my tenth story view to the north. It was a dramatic scene that clearly was spinning out-of-control,” observed Antonicello.

According to news reports, nearly 1,700 fire fighters raced to the scene and by day light, the fires seemed to be under control.

15 helicopters and 15 airplanes including DC 10’s were used to drop water and retardants to control the flames.

Hundreds of local residents in Marina del Rey, Venice Beach and Santa Monica stood along the beach to witness the sky covered with flames and clouds as day time broke.

Malibu, with homes tucked into deep and narrow canyons along the 27-mile coastal community is prone to the severe Santa Anas which cause these out-of-control brush fires.

One of the more effected areas was Corral Canyon, an exclusive neighborhood of about 350 homes was ordered to evacuate. One home, a 3,500 seven level home was engulfed in flames and burned to the ground. It’s estimated value was $2 million dollars.

Optimism was the feeling as some 25,000 agents, brokers and other real estate professionals descended upon Las Vegas last week to discuss the future of the residential real estate market at the National Association of Realtors (NAR) conference.

This being the first gathering of agents since the acute market down turn, the mood was upbeat and optimistic given the size of the crowd and the emphasis on new technology as agents serached for what works and what doesn’t in this correcting marketplace.

For Unique Homes Magazine, they rolled out to customers an integrated marketing system that combines print, online and digital components all in one marketing system.

“The show was very successful. The savvy luxury agent understands that integration and a smart media mix is what works. One of the programs we discussed with agents was the overhaul of our  ELITE-2008 personal branding system. The response to that program was quite positive,” observed Bruce Griset of Unique Homes.

Christina Lodar, an international consultant and sales manager did a tremendous amount of networking with many of the Latin American developers that attended from Panama, Costa Rica and Mexico.

“There is tremendous opportunity for American consumers to invest in venues like Costa Rica which is really hot. The second home and vacation market has now extended beyond our borders south and that’s very exciting,” said Lodar.

Unique Homes has been a participant at NAR for the better part of 30 years.  This year, Unique Homes shared booth space with our sister publications Seattle Lifestyle & Homes, Colorado Lifestyle & Homes, Mountain Living and our regional luxury magazine, ENCLAVE.

“These home & design titles are another advertising option for our customers. In addition, ENCLAVE offers a very defined target in pockets of wealth such as the Westside of Los Angeles, Dallas, Denver and the Atlanta markets, noted Richard Goodwin, publisher of Unique Homes.

For Unique Homes and our staff, the show is all about building new relationships and networking.

“NAR is the center of the real estate world. Virtually every major player in the residential market comes to NAR to listen, learn and take part in the various receptions, networking events and educational opportunities available to the attendees. If you’re truly committed to the residential market, coming to NAR is critical to servicing your customers,” noted Goodwin.

Two of the more well attended events was the announcement of the Top 200 Agents by LORE and The Wall Street Journal as well as the annual broker dinner sponsored by RIS Media and it’s president, John Featherston.

“It was important that the tone and mood of the event be positive. I was impressed with the volume of agents and attendees who saw this event not so much as social, but as a true chance to exchange ideas in terms of marketing and technology options. Anyone in attendance had to leave feeling good about the future of real estate and where the market will turn come 2008 and beyond,” noted Nick Antonicello. Director of Sales for Unique Homes.

The next major marketing event for luxury agents will be The Luxury Conclave scheduled for January 16th through January 18th at the world famous Phonecian Hotel & Spa located in Scottsdale, Arizona.

For more information about The Conclave, visit www.theluxuryconclave.com

This Journal article from a couple of weeks ago by Sally Beatty epitomizes what we continue to hear from luxury real experts around the country—the truly wealthy aren’t affected by the housing downturn and continue to buy and sell without reservation.  This story outlines how some folks are willing to pay much more to expedite new home construction…

http://www.realestatejournal.com/buysell/markettrends/20071029-beatty.html?rejcontent=mail

Here at Unique Homes, we’re starting to gear up for our annual list of the most expensive homes in the U.S. — Ultimate Homes.  But meanwhile, Forbes has released its ranking of the most expensive homes in Canada, along with news about how amazingly well the market is doing there.

http://www.forbes.com/forbeslife/realestate/2007/10/12/homes-canada-expensive-forbeslife-cx_lk_1015realestate2.html

I just returned from a vacation, and in going through some old emails I found a Wall Street Journal Q&A from last month that asks an age-old question: Is it better to purchase a newer, larger home on a tiny lot or is it better to buy an older, smaller home with a larger lot with room to expand?  The answer: http://www.realestatejournal.com/columnists/housetalk/20071022-fletcher.html?rejcontent=mail

Fall brings together academic minds, alumni and students alike. It’s a time when football fans flock to reconnect with the nostalgia of happy college years. So what’s the score in real estate in some college towns? From spacious entry-level abodes, to high-end regal residences, now you can check the “home” standings of your alma mater, local college or university. Coldwell Banker recently released its third annual College Home Price Comparison Index (HPCI), which ranks the most expensive and affordable college towns. For a detailed look into some of these collegiate locales, see the link below.

http://hpci.coldwellbanker.com/hpci_press.aspx

If you haven’t heard, there’s a skyscraper planned for Chicago. In the city that invented the skyscraper, this normally might not be a very big story.  But when the project is a 150-story, 2,000-foot tall spiral designed by world-renowned architect Santiago Calatrava, it is a big deal. Groundbreaking is planned for January at the Chicago Spire, which will be the tallest residential-only building in the world. You can get into the building for $750,000, but prepare to pay $40 million for the penthouse.  Below is a link to a thorough article published in The Times of London from a reporter who attended the development’s launch party a few weeks ago.

http://property.timesonline.co.uk/tol/life_and_style/property/overseas/article2588576.ece

www.thechicagospire.com