Company History
Premier Realty Advisors (PRA) offers a complete package in the Real Estate marketplace with over 30 years experience in national property management and development, condo conversions, and extensive commercial and mortgage banking experience. PRA is committed to understanding the depth of each client's real estate goals, and possesses the expertise to reach and exceed planned target objectives through development, implementation, promotion and marketing.
PRA has achieved its growth by maintaining a steadfast attention to the sales and marketing of multiple-family real estate, and is a renowned specialist in the niche market of urban living. In attaining its market authority, PRA has become the preferred source for a wide variety of listings specializing in the sales and marketing of condominiums, town homes, lofts and cluster home communities.
Our Tampa office offers marketing and sales expertise to the state of Florida.
Implementation
Premier Realty Advisors is conceptual in its implementation policy from beginning to end. PRA ensures a turnkey approach from the marketing, selling, and financing, to the closing of a proposed property. Innovative. Aggressive. Premier Realty Advisors' initial planning stage originates with a comprehensive market survey, inventory pricing matrix, and the planning and implementation of the sales office as well as an all-inclusive tiered marketing campaign. PRA is unique in its site-specific approach to specialized financing, and multi level sales and marketing. This program is professionally designed and executed through Pre-Sales Planning, Pricing, Inventory Control, Sales and Marketing, Financing, Sales Operations and Administration, and Performance Quality Assurance.
Pre-Sales Planning and Preparation
Premier Realty Advisors is conscientious in the introduction of purveyors to developers who can help them reach the developers' point of sales. This vendor list contains, but is not limited to, preferred lenders, attorney/condo documents, decorators, landscapers, pavers, painters, and sign companies.
This initial phase of the PRA pre-planning campaign includes identifying a target consumer, incorporating a highly trained sales staff, controlling inventory, creating marketing budgets, and obtaining aggressive financing. In addition, PRA differentiates the property from the ever growing competition by implementing a creative merchandising strategy that embraces refined and elegant sales models and a variety of upgrade packages.
In the final approach to the pre-planning stage, PRA conducts extensive research into the market in the proposed area to determine the target market. The goal is to provide the target market with an excellent purchasing opportunity including price point, location and lifestyle.
Sales and Marketing
Premier Realty Advisors is a pioneer in its move toward the sales and marketing phase of point of sales. The starting point to the PRA stratagem is to first create buyer awareness. This basis consists of multiple promotions, resulting in generated leads that will move through our selling process. This technique maximizes the number of sales within the shortest period of time.
Creating Buyer Awareness is an integral element and the central feature in laying the foundation of the 'Sales Trail' growth and development process. This is accomplished by initiating web sites, designing and introducing a Teaser Campaign, raising insider consciousness with lender specific programs, and preparing and scheduling an Insider Event. The process continues with a Realtor and Grand Opening Event, and crafted media campaign designed in its tactical placement.
Exhibit A: Marketing Plan
PRA carefully maps out promotions and stages events designed to utilize the initial buyer awareness with a programmed sequence of advertising and public endorsements. This is organized and achieved by a series of lead-ins designed to enhance traffic and sales with each occurrence.
Web sites
- praflorida.com
- realtor.com
- site specific Web site
Teaser Campaign
- Advertising Media Buy
- Public Relations Activities
- Press release in publications of target markets
- Peak interest on the target market prior to the sales center opening
- Create demand to purchase by taking interested prospects out of the market and encouraging them to wait for opening by placing them on Priority Buyer List.
Insider Marketing Event
- Reaching out to existing residents, with a property specific event, to create an awareness of their ability to purchase their unit.
- Combining efforts of the developer and preferred lenders to offer special incentives to current residents.
- Collective trained and skilled PRA Team working jointly on site sales and marketing with simultaneous lender progression and buyer follow through.
- Constructing and initiating a planned agenda for proactive insider contact and continued promotion.
Exhibit B Media Promotion
Premier Realty Advisors will assist in the creation, management, and achievement of the following site specific items to execute the successful marketing of each property:
- Media plan
- Marketing budget
- Marketing calendar
Broker/Realtor Event
Generating a marketing bonanza calculated to create Broker interest and Realtor participation. This is simultaneous with the opening of the following:
- Sales Center
- Sales Model
- Initiating Broker and Realtor saturation with an innovatively designed invitation and mail out.
- Continuing to build Broker and Realtor awareness with pre-event sales visitation.
- Working with Preferred Lenders on a Realtor-based seminar, specific to the sales and marketing of the property.
- Realtor open house promotions
Grand Opening
- Kick Off event with a market specific advertising blitz tactical in its placement.
- Specialized mail out of VIP and Friends and Family list.
- Regulated inventory release to allow maximum sales while controlling type of units sold.
Supporting Stage
- Continued advertising and promotion
- Property sign placement.
- Use of brochures and area marketing materials
- Introduction of Broker supported programs
- Broker caravans
- Broker registration policy
- Actively pursue support of the resale brokerage community
- Complementary vendor referrals
Pricing
The Inventory Control strategy has proven very successful in creating a sense of urgency for potential purchaser. The strategy is implemented to stagger the release of inventory in order to balance sales so that the best homes do not sell at the lowest prices and prices increase as sales velocity is created. This will also give those who purchase first a solid and rewarding position. PRA's pricing strategy will ensure the highest possible market price and balance of unit sales.
Premier Realty Advisors will provide the following:
- Project Pricing to reflect price points per unit
- Absorption Schedule which will breakdown the velocity which PRA believes can be achieved per individual project
- Community Comparables to determine submarket supply and demand
Financing
As part of the marketing plan, Premier Realty Advisors is select in offering a financing program from Lenders that specialize in condominium mortgages and first time home buyer programs.
PRA, unique in its approach to conversion funding, will obtain proposals and discuss staffing and specific originators from selected lenders that are in a position to portfolio loans prior to obtaining Fannie Mae approval.
Premier Realty Advisors is original in the secured procurement of site Preferred Lenders that target the market needs of the proposed community and offer the following PRA approved loan programs:
- Insider buy down loans
- Conventional Loans
- Affordable Housing Markets
- Conforming and Non Conforming
- Government Employee Assistance
Sales and Operations
Sales Trail
Premium Realty Advisors is novel in its belief that sales and product training is key to the success of the proposed site. All PRA sales representatives are knowledgeable in their product and confident in their sales representation. Each Sales Associate gives the proposed site credibility and a trained sales presentation moves that the sales process forward.
As the marketing and implementation stages move forward, PRA implements training and preparation specific to the development, prior to opening. Training for the Sales Trail strategy takes approximately four days and covers three phases that are outlined as follows:
- Advancing the selling skills of the Premier Realty Advisors sales staff
- By thinking outside of the box, a bottom line attitude change.
- Establishing the bond between buyer and sales associate, with an emphasis on creating a sense of trust between the buyer, the developer, and the sales associate.
- Site specific roll playing including discussions on selling points while touring. This allows for accentuating the positive, and finding helpful and upbeat anecdotes for attractive features.
- Displaying a winning, positive attitude with the ability to be resourceful and creative, and the training to identify and generate a hot prospect base.
- In-depth preparation on the ABC's of selling, with detailed attention to strong closing techniques.
- Product Training
- On-site agents are expert in construction and rehab of the property, as well as every detail of the product from the measurement of each floor plan and its upgrades, to the comprehensive study of the area.
- Knowledgeable in condominium documents, the purchase agreement, feature benefit selling, and overcoming objections toward the community.
- Encompassing Elements
- Creating a sales presentation tailored specifically for the buyer purchase that incorporates the complete 'Sales Trail' process.
- Choreographing the complete sales process, including a question and answer period with your legal counsel to answer questions and review the contract process with the sales staff.
- Training in the benefits and features of the projected site's condominium documents.
Sales and Operations
Sales Center
Premier Realty Advisors will design and create a market ready sales center and professionally devised models for the current project. The sales center will be located in the current clubhouse and will be redesigned to provide a new way of life for prospective buyers to imagine and conceptualize. The combination of interior styling, elegant amenities and lifestyle oriented display boards bring the community vision to life. The models and the sales center are utilized during the entire sell out.
Typically, the sales center is open Monday - Friday from 10 a.m. to 6 p.m., Saturdays from 10 a.m. to 5 p.m. and Sundays from Noon to 5 p.m. and is at all times open for appointments. These office hours are designed to best suit the needs of the prospective buyers and will certainly be flexible.
Proposed recommendations for the Sales Center include:
- Producing a reception area where the receptionist and/or sales staff can greet prospects as they first walk in the door, thus providing a warm and receptive greeting. Offering refreshments completes the first step of the 'Sales Trail' process.
- Moving all management and leasing functions out of the current clubhouse and into a separate unit on the property, in order to create a sales specific environment.
- Displaying sales boards that tell the following narrative:
- Developer/Team Story
- Site Plan
- Points of Interest
- Amenities and depictions of the community and lifestyle
- Standard and upgrade finish boards that illustrate the potential finish levels to prospective buyers.
Implementation of Equipment/Technology for Sales Center:
- Computers w/ flat screen monitors: Microsoft Office (Word, Excel)
- Number of computers relates to the number of sales team members.
- Fax machine: High speed and able to accommodate both letter and legal paper
- Networking: wireless router and wireless adaptors
- Printer: Laser
- Two paper trays (letter and legal)
- Network ready
- High volume capability
- Internet service: DSL
- Phone lines: recommend four multiple voice lines and one dedicated fax line
- Phones: landline phone system
- Number of handsets will depend on the office layout.
- Surge protectors
- Copier: Document feeder and collator, accommodating both legal and letter paper
- Supply order: Initial Staples or Office Depot implementation and set up
- Postage Meter: Pitney Bowes with scale
- Reoccurring postage renewal
Sales Meeting
Services continue beyond the successful planning and marketing of the project through to the sales phase where PRA monitors daily traffic patterns including sales and contracts, and inventory of the proposed project. An established weekly Sales Meeting and progress report will ensure effective communication and the successful conclusion to your project.
Designed and created for the sales staff and developer staff:
- Having a developer's representative and a representative from the construction staff available to attend all weekly sales and marketing meetings along with the entire PRA sales staff, closing coordinator, sales manager and marketing representative
- Representation from the Preferred Lenders to give weekly updates on individual loan applications
- A detailed weekly meeting agenda created to address pending issues and processes as the project progresses
- Detailed meeting notes taken and sent to all attending members each week
Sales Report
The project Sales Manager will meet with the sales staff, approximately 1-2 hours prior to the Sales Meeting to review the past weeks' sales progress, inventory control, and strategize on A & B prospects. Included in a concise weekly Sales Report are the following:
- Total number of new prospects at the site (qualified and non-qualified, by day of visit)
- Number of 'be back prospects' at the site
- Number of phone calls/number of appointments generated
- Number of broker/clients for the week
- Cumulative total for traffic (qualified and non-qualified)
- Source of traffic by media/day by day
- Cumulative total for traffic source
- Number of contracts written for the week/by day and cumulative
- Number of firm contracts for the week/by day and cumulative
- Number of cancellations for the week/by day and cumulative
- A listing of broker/client appointments by date and sales agent
- A listing of hot prospects (A's) by sales agents
A complete system is implemented and monitored on a weekly basis for following up with prospects, including phone calls and follow up mailings.
Tracking System/Follow-up
Premier Realty Advisors has a very clear understanding of the pricing and velocity goals with each property and have an absolute commitment to deliver them within the scope of each site based on the number of units. PRA will implement the following:
- An in-house sales reporting system or for larger sites, a web based computer program. Constant, detailed, and real time reports will be available for the developer throughout the sellout. Each provides a comprehensive data and information system that assists the staff in administering and securing a successful sellout
Performance Quality Assurance
PRA Realtors' in-house Performance Quality Assurance team is comprised of experts that exist on the forefront of every new construction and condominium conversion project, to provide exacting services and the implementation of a successful opening and closeout. These individuals bring with them a diverse range of superlative and professional experience; most having achieved extreme success in the corporate world as well as in the field of multiple-family and residential real estate. Performance Quality Assurance is a first point of contact and acts as the first line of action, addressing potential obstacles before they have the opportunity to arise. The following is a brief overview of the process that Performance Quality Assurance executes:
- Thorough analysis of condominium documents to ensure each critical piece is in place specific to region, market, and community
- Identify any specific areas of potential issue, providing consultation on any and all aspects of the property
- Strategically implement a plan of action to ensure smooth transitions for conversions
- Coordination and training for all staff; sales associates, closing coordinators, and reception
- Implementation of all necessary equipment and technology including software that enhances organization and contributes to expedient sellout.
- Establishing the sales center
- Simultaneous administration and release of insider letters and condominium documents to facilitate smooth insider period
- Administration of periodic quality assurance, file audits
- Diffusion of any pertinent issues, should they arise
- Reentrance at closeout to make certain all tools are in place for clean closing procedures to begin
Commission to Broker
Premier Realty Advisors will manage all sales efforts with a highly successful and experienced on-site sales team consisting of sales associates and a sales manager. The sales efforts for projects will initially be overseen by Jane Kinen, PRA Broker and Ivan De La Guardia, Vice President, Operations. The Broker and the Vice President of Operations will coordinate and oversee lenders and their programs as well as comprehensive sales analysis, initial pricing strategies and the Sales and Model Center design and implementation. The Senior Marketing Manager, Amanda Smith, will focus on media development and selection of a dedicated ad agency. The Director of Sales, Peder Christensen, will oversee all onsite sales operations including hiring and training the sales staff, inventory control, price management, and day-to-day sales procedures. The Area Closing Manager/Trainer is responsible for the hiring and training of all closing coordinators as well as the supervision of each on site closing department, including daily reporting, weekly contract audit and reconciliation, lender review, and the continued management of cost effective and ordering procedures.
The PRA management team is involved in the project from 'concept to closing.' Premier Realty Advisors has planned for the following sales staff for most projects:
- Sales manager
- Available for direct onsite supervision of the sales staff and sales process on a full-time basis.
- Available for continuous sales training and motivation of the staff
- The Sales Manager will also be responsible for communicating with PRA on key issues.
- Sales agents
- Closing Coordinator
- Will push through existing contracts as soon as possible, by getting letters to current buyers seeking loan approval documentation.
- Work with financial institutions to ensure a smooth process between buyers and lenders.
- Maintain regular contact with all buyers to monitor the sales process from contract to closing.
- Coordinate with construction staff to ensure walk-through schedule is maintained and units are ready when scheduled.
- Part-time receptionist to answer phones and front desk duties to allow the Closing Coordinator time to focus on moving the closing process forward.
As compensation to the broker, PRA proposes the
following commission schedule:
- Sold direct by on-site management: 3%
- Sold by co-op broker: 6%
Miscellaneous Expenses
Any out-of-pocket expenses incurred on behalf of the developer by the broker, including but not limited to, expenses for couriers, long distance telephone calls, and other similar expenses, shall be billed to the developer on a monthly basis and reimbursed to the broker upon presentation of appropriate receipts.
In addition, the developer will fund a petty cash reserve in the amount of $500 to be held and reconciled monthly by an appointed agent or office personnel.
Productive Property Management
Premier Realty Advisors has established a simple solution for investors to utilize our services for rental needs. Our experienced staff will manage all aspects of landlord-tenant relationships. PRA will obtain quality renters through our extensive application process which must certain outlined criteria. Some of our services include the following:
- Promotion of the property through marketing
- Communication and tour with prospective tenant
- Move in/move out coordination
- Walk through inspection at move in
- Monthly rent collections
- Rental ready process
- 24 hour emergency maintenance