Ray White Enters Prestige Market

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Ray White New Zealand is proud to announce the launch of the Ray White Prestige brand into the New Zealand property market.  The Prestige brand had long been associated with Ray White as leaders in the upper end market on the East Coast of Australia, particularly in the eastern suburbs of Sydney, the northern suburbs of Sydney and the  Gold Coast. Ray White Double Bay located in the Eastern Suburbs of Sydney has successfully completed the highest priced sale of residential property in Australia for 2010 being 18 Carrara Road, Vaucluse.

Ray White has a philosophy of focusing marketing towards the property and this is more evident with the Prestige brand.  With its introduction into the New Zealand market given the value threshold that has been set it will suit higher priced areas of Auckland, Wellington, Canterbury and the Lakes District in the lower South Island.  We also see that there will be prestige property from coastal areas. 

The Prestige brand brings a broader base market to the property given that each selected property will be part of the Ray White e-magazine collection that is internationally distributed through a database of 550,000 interested property buyers.  In addition to this it will also be profiled if desired through the key markets internationally which respond directly to prestige property. 

Initially consideration for the Prestige brand will be available only when a property meets a certain criteria and the link to the brand is also exclusive to those who have a considered track record in prestige property or are International Elite Members.

During the first quarter of 2010 Ray White has consistently accounted for 30% of the sales in the prestige market with a number of sales in Orakei, Remuera, Herne Bay and St Mary’s Bay.  We have also had a high percentage of the upper end in the Southern Lakes area particularly in Queenstown and Arrowtown where the Group’s collective marketshare is in excess of 35%. 

As well as being able to profile properties internationally, Ray White is also aware that the majority of buyers of property within the New Zealand prestige market are those people who currently have prestige property of their own.  With this in mind our standards of print media and internet marketing will be at the forefront of ensuring that profile is reached through our marketing to all potential property purchasers in the prestige market.

Ray White expect to have at least 25 appointments in the prestige market during the first 12 months and we are proud to display our first property 12 Eastbourne Road Remuera that has been listed through Megan Jaffe at Remuera in the Prestige livery which has appeared as a double paged feature in this week’s ACP Media Property Press.

Ray White New Zealand trades through 133 offices completing property sales in excess of 4.8bil per annum.