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Luxury Real Estate Board of Regents Addresses Real Estate Market’s Health

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RISMEDIA, Oct. 16, 2007-On Sept. 30, dozens of members of the exclusive Luxury Real Estate Board of Regents held a special meeting, marking the beginning of the 12th Annual Luxury Real Estate Membership Conference in Vancouver, B.C. At this meeting, they discussed the state of the real-estate industry and how best to guide the Luxury Real Estate network (LuxuryRealEstate.com) in the coming year.

“The view of the luxury market being communicated by the media has been unfairly negative, in my view,” said John Brian Losh, the CEO and publisher of LuxuryRealEstate.com, and broker, chairman and CEO of Ewing and Clark, Inc. in Seattle. “While some U.S. markets have slipped from the high prices and record number of sales in 2005, many members of the Board of Regents are performing above expectations. I am not worried about the overall health of luxury real estate.”

The Board of Regents is the exclusive affiliation of luxury brokers and the governing body of the global Luxury Real Estate network. It is comprised of 81 brokerage firms representing more than 430 offices from around the world. Each Regents member represents a distinct territory and has been selected because of his or her qualifications and commitment to the Luxury Real Estate brand.

At this meeting, Board of Regents members discussed the current state of markets around the world, including softening areas in the United States. Several Regents members in these reportedly weak areas are setting sales records. New Jersey-based Gloria Nilson GMAC Real Estate reported $130 million in sales through Sept. 14, a significant increase over 2006.

Rob Thomson, the owner of Waterfront Properties and Club Communities in Jupiter, Fla., reported selling nearly $100 million in properties through August 15. Thomson said he attributes his success to his use of online tools to cost-effectively showcase properties to a variety of potential clients. He also offered his perspective on the luxury real estate market.

“I would much rather be in a bad market than a good one,” he said. “People realize they need added exposure in a bad market and suddenly my services become much more valuable to them.”

Chase International, the Board of Regents member for Lake Tahoe, Nev. recently released its third-quarter report, which showed a 45-percent increase in single-family property sales from last year in Incline Village and an 11-percent increase on the east shore of Lake Tahoe. The report also showed that the number of single-family home sales is down 28% in Tahoe City and just 4% on the south shore of Lake Tahoe. Despite these decreases, Chase International officials said they are confident that their luxury market is recovering.

Diane Turton, the founder and president of Diane Turton, Realtors in Pleasant Point Beach, N.J., was recently interviewed on the Fox News program “Your World with Neil Cavuto.” In the interview, she discussed the positive side of the luxury market and ended by saying, “The price is right, the sellers are making money and the buyers are getting great houses.”

The Board of Regents is an exclusive network of the world’s most elite luxury real estate brokers, comprised of the most legendary names in the industry. The Board of Regents is the governing body of Who’s Who in Luxury Real Estate, the worldwide network of luxury real estate brokerage firms. Members of the Board of Regents are marketing experts, providing innovation and unparalleled service to their clients.

For additional information, please visit www.LuxuryRealEstate.com or www.Regents.com.

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