Broker-owner Wendy Wilson has opened a RE/MAX Collection luxury property office on the barrier island in hopes of tapping into the upscale market of homes valued at $500,000 and higher.
Wilson owns RE/MAX Associated Realty, located at 3975 20th St. on the mainland, which has sold mostly mid-priced homes. The new office is an extension of that successful brokerage with an ambitious new focus.
The RE/MAX Collection luxury brand has a strong presence around the country and in other parts of Florida, but not so much here in Indian River County, said Wilson, who received her license 11 years ago.
“They just never penetrated the high-end market in Indian River County,” Wilson said. “We’re looking to grow that and run with it.”
To that end, she opened a second office last month at 5055 Highway A1A, about a mile and half north of Beachland Boulevard, where the company leases the first floor of the building and has room to expand on the second level as agents join the brokerage.
“It was important to us to have room to expand,” says Marketing Manager Sherry Coleman.
Wilson has a big long-range plan for her office. Her game plan is to recruit 30-35 agents for the new office and launch an agent development program.
Agents will receive special training in luxury sales and also enjoy some handy perks.
“We have laundry pick-up here for the agents and someone comes once a week to wash cars,” says Coleman.
Wilson stressed that the new office will exclusively handle properties with minimum values of a half-million dollars.
She knows she has her work cut because there are a number of well-established brokers on the island already who focus on the luxury market.
Dale Sorensen Real Estate, which has an office right next door to Wilson’s new office, Premier Estate Properties, Treasure Coast Sotheby’s International Realty, Berkshire Hathaway HomeServices, John’s Island Real Estate and The Moorings Realty Sales Co. all have a strong presence in the luxury market, with years of experience listing and selling barrier island homes.
“We have a lot of competition,” Wilson acknowledged. She’s counting on RE/MAX’s billion-dollar brand and 40 years of business to carve out a piece of the island’s coveted high-price property market.
The RE/MAX Collection offers “sophistication, elegance [and] class … to affluent homebuyers and sellers around the world,” according to the brand website. “This RE/MAX luxury-home marketing program provides exclusive advertising incentives, specialized training and distinctive marketing tools to RE/MAX agents so they can better serve discerning clients.”
Coleman says agents receive one-on-one social media training and that properties luxury listings receive upgraded promotion packages and high-end marketing, all built around a silver and black logo that is distinct from the traditional red, white and blue RE/MAX balloon logo.
In addition, Coleman says the brokerage is reaching out to establish referral partnerships with luxury brokerages in complimentary markets, such as Charlotte, N.C.
Despite the challenges, Wilson believes the timing is right for her new venture. While acknowledging that the “inventory is a little tight” on the island, she said the Vero Beach high-end housing scene is “transitioning to a more stable market that we haven’t seen in eight to ten years.”
Wilson said the real estate business is running in the family. She’s slowly handing the reins over to her son and prepping him to take over her mainland RE/MAX as she expands into the lucrative island real estate market.
RE/MAX Associate Realty will hold a grand opening celebration at its new island office on Oct. 27.