CASE STUDIES
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Private Island Case Studies
The Private Islands Inc. network includes dozens of experienced, trusted island and waterfront specialist brokers from across the globe. We encourage qualified agents with private island listings to contact us to discuss how we can work together to successfully market their properties, learn about the international market and grow their reputation as a private island specialist.
Each island region and property is distinct, and may require tailored marketing and custom arrangements with Private Islands Inc. However, there are often commonalities based around market and property types that can help provide a sense of how Private Islands Inc. has performed with comparable properties, and how we can use our unique experience to effectively market private islands to result in favourable, successful sales. The following case studies in select regions are a small example of our company's success, and illustrate how a profitable partnership can be achieved with Private Islands in any circumstance.

Local and International Market
The Caribbean is home to one of the strongest, most established private island markets- the Bahamas. Prestige gained from the country's upscale reputation and stable, Commonwealth-based government has added to the attractiveness of local private islands, and a vibrant local economy means that the Bahamas is one of the few areas that can be considered both a local and international market. Working in conjunction with experienced Nassau broker and appraiser Kevin Cross, strong local promotion combined with tasteful international exposure resulted in the sale of several islands within 2007 alone, ranging in price from approximately US $M to $4M.

International Market
Unlike the relatively wealthy population of the Bahamas, much of the rest of the Caribbean is an exclusively international market, where promotion is aimed primarily at North American and European clients. In the case of large, untouched properties, there is a distinct focus towards investment and development interests. A stable, investor-friendly region rich in profitable second home communities and resorts, the market in the Eastern chains of the Caribbean emphasizes the importance of belonging to a prominent network of brokers. Development firms will most often engage the services of a buyer's agent to source properties for their projects, who in turn contact us for referrals and suggestions of properties. For example, a sizeable Caribbean property sold for in excess of US $13M through our referral under a similar circumstance in 2007.

Local Market
Canada is home to a wide variety of island markets, many of which are tied closely to the thriving cottage country areas that dot the country's coasts and many inland lakes. North of Toronto is the beautiful Georgian Bay region, which has been a favourite second-home destination for residents of major Eastern Canadian and American cities for decades. However, even a highly local market such as Georgian Bay can benefit from Private Islands Inc. With the overwhelming prominence of the internet as a source for locating properties, many clients are bypassing traditional methods of locating real estate even in a nearby region, and of course, it isn't practical to put a "For Sale" sign on an island. Numerous private islands in this area have been sold by owners through our services, including three cottage islands in 2006- and all three islands were sold to purchasers who lived less than a two-hour drive away.

Negative Publicity
At times, public perception of an area's qualities has a disproportionate impact on a client's ability to sell their property. Nova Scotia is a stunning coastal region that is highly convenient to many major East Coast cities, but an area where islands had often lingered on the market due to the perception of remoteness and cold winters. However, the province had international flights available to the cosmopolitan city of Halifax, rugged beauty, and an attractive summer climate. Private Islands decided to raise global awareness of the favourably priced islands of Nova Scotia and has achieved success in positioning the region as a perfect place for a seasonal summer home. "Within the first three months of listing my Nova Scotia islands on Private Islands Online, I sold two properties through the site", says broker Jim Marchand. And with continuing positive exposure, Nova Scotia has become one of the most active regions for Canadian, American and European clients searching for moderately-priced islands.

Stagnation on the Market
The longer an island remains on the market, the less attractive it becomes to potential buyers. In this case, innovative marketing is needed to reduce any stigma and open client's eyes to the possibilities the island offers. The Caribbean Sea country of Belize shot to prominence in the international marketplace in 2004, when a proliferation of undeveloped islands entered the market- and at prices that seemed unexpectedly reasonable for the country's tropical location. However, the sale of value-added, developed islands in this competitive market posed a challenge, and one property in particular had remained on the market for significantly longer than expected. "Once I started brainstorming with Chris Krolow, we came up with an innovative way to sell Monarch Cay," said the island's owner. The island's name was changed to minimize the impact of its previous time on the market, and extensive publicity targeted towards clients who typically purchased developed properties in more established regions like the USA and Bahamas immediately boosted the number of serious inquiries. When the interest in the island reached a peak, a Dutch-style auction was held, resulting in the island selling through Private Islands within just a few months of changing marketing strategies.

 
 
 

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