Key takeaways from this year’s Christie’s International Real Estate virtual Luxury Specialist Conference

Remaining current on global luxury real estate demand and understanding the impact of socio-economic trends on the Cayman Islands real estate sector is a core aspect of the ongoing market analysis performed by Provenance Properties, the exclusive affiliate of Christie’s International Real Estate (CIRE) in the Cayman Islands. In order to maintain that focus, the team joined this year’s virtual Luxury Specialist Conference.

Attended by more than 400 brokerages from its worldwide network, the event featured speakers in many sectors, from specialists in economic growth to global disruption. Our sales specialists learned about the latest global luxury real estate market trends and new client services available exclusively to  CIRE realtors.

“This conference was designed to offer [our brokers and specialists] new and unique insights into the dynamics affecting the residential real estate industry generally and how best to serve the world’s most discerning clientele more specifically,” said Dan Conn, chief executive officer of Christie’s International Real Estate. “The conference content canvassed real estate best practices, and went beyond real estate, focusing on other collectible categories that matter to our clients.”

With such relevant and wide-ranging topics, each sales specialist learned something to enhance delivery of client service excellence.

April McIntosh

One session in particular, named “Winning strategies in a hot market,” reminded me of the value that the Christie’s International Real Estate network and brand has for our clients when paired with Provenance Properties’ local expertise and wealth of experience. The marketing power that the two brands have when combined offers a unique advantage to our clients that is unique in our market.

Shanice Ebanks

I love using social media to connect with clients. The conference’s session on social media named “Social media: Driving views and visibility” reinforced my commitment to using these channels, as it revealed that recent studies show that people spend an average of seven hours per day on social media networks, and love video content on Instagram, as well as short and easily digested videos on Instagram Reels and TikTok. In fact, these shorter videos offer more exposure and have longer lifespans, providing a powerful sales tool for us to promote the Cayman Islands, what life is like here and the beautiful properties we have for rent and for sale.

Fleur Coleman

Working as a sales specialist focused on the luxury market means that client service is at the heart of everything we do. I really enjoyed a session titled “Positioning yourself at the high end of the market: What it means to be a luxury specialist.” It reminded me of how much our clients rely on us to not just help to coordinate home viewings for them and help find their dream home, but also rely on us as sources of valuable information for everything from events in the local community to schools, healthcare and charitable causes. This relationship doesn’t end once the purchase is complete, either – the reliance on a sales specialist’s expertise continues and often leads to referrals to family members and friends looking to purchase as well, given that trust has been established. This was a valuable reminder for me of just how much my work has meaning for my clients!

Ewe Cimring

COVID-19 ushered in a new era of buyer activity, particularly here in the Cayman Islands. We saw an increase in our sales and a spike in interest from overseas buyers looking to own a second home in the Cayman Islands or relocate here as a safe haven from the dynamic global environment. A session I attended during the conference, named “The economy: Growing but slowing,” discussed that despite obvious supply issues in many luxury markets – including cars and consumer goods – demand has not lessened. This has certainly been true for us in Cayman as demand has been at an all-time high. The fundamentals of our economy are just one aspect of the Cayman Islands that I love to share with our clients, and this session reminded me that we have done well through some very difficult circumstances over the past two years!

To contact any of our luxury sales specialists and continue these conversations, click here.

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