Jim McInerney

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Luxury Properties Division of Prudential California Realty launches third year- 180 top luxury agents meet at St. Regis Resort (March 1, 2010), Irvine, CA -- An elite group of 180 specialists of the Prudential California Realty Luxury Properties Division came together for a day-long conference at the St. Regis Resort in Monarch Beach in mid-February. Noted experts in ultra-high-end properties from Santa Barbara to San Diego attended the event. President and CEO Jon Cook reported on sales results for the division, which was launched in 2008. Since that time, the company’s agents have closed over 1,500 luxury transactions representing over $7 billion in sales volume. The division increased it average sale price of luxury homes sold to $4.57 million. “The foundation of Prudential California Realty was built on the luxury market,” says Jon Cook, President and CEO. “We are dedicated to expanding and enhancing the division to help our agents give their high-end clients the most effective representation.” Ron Peltier, Chairman & CEO of the firm’s parent company, HomeServices of America, Incorporated (HSA), was a featured speaker at the event and spent the day with the group. HSA, an affiliate of Berkshire Hathaway, is the second largest full-service independent residential real estate brokerage firm and the largest brokerage-owned settlement services (mortgage, title, escrow and insurance) provider in the U.S. Heidi Hockenberry, director of marketing for the division, presented the results of an ongoing study that tracks where the company’s luxury buyers come from. “This information helps both our agents and the division market our high-end listings even more effectively,” she noted. Among the findings: a significant percentage of buyers are coming from outside the county where the listing is located. “That makes our connections throughout Southern California and across the international Prudential network more important than ever,” she said. Her presentation ended with the unveiling of a new digital magazine created to showcase luxury properties. Pat Veling of Real Data Strategies, Incorporated, shared luxury market data with attendees, including graphs depicting $2 million+ market activity in micro markets across Southern California. Cook announced that all Prudential agents working with high-end properties can now access these reports, which are updated monthly. “Our agents can use this data to help their clients buy and sell successfully in this market,” he said. Photographed at the event: Santosha CEO, Jim Mullen, Prudential Ca Realty CEO, Jon Cook, and Jim McInerney. “Having personal connections with the top luxury agents outside our immediate market gives us a tremendous advantage to offer our clients,” said Billy Rose, a Luxury Properties Director from Beverly Hills. “This meeting is the perfect setting for making those connections — and we always come away with new ideas and a deeper understanding of where the market is headed. In addition, we find it a real benefit to hear macro market projections and details from such prominent players like Jon [Cook], Ron [Peltier], and Pat [Veling].

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