Market conditions that were present during fractional real estate’s first major boom in 2004 and 2005 are long gone.  Not to say that those conditions won’t come back, in fact many believe they will with fractional ownership sales leading the way.

But what are you, the developer, land owner or sales manager doing in the mean time?  Lots of consultants and advertising companies continue to gloat over past sales successes in the “Order Taking Era” of 2004 and 2005 and kudos to them for those accomplishments.  But how are they helping you today?  Your focus today should be on answering these questions:

1.  Have you adjusted your price matrix?

Typically it’s not a good idea to drop your price and I’m not recommending everybody go out and do that tomorrow, but we can all agree that today’s economic environment is atypical so discussions about atypical price adjustments shouldn’t be ignored either.

2.  Does your sales team have the fire power to sell “The Lifestyle”?

Put another way; what are your hiring criteria for the sales team?

Many licensed real estate agents can sell features and benefits, but are they equipped and trained to sell an experience?  Can they learn about their prospect and position the product based on their needs?  Can they move the prospect along efficiently through the sales process?  Fractional selling is solution selling and order taking is a thing of the past.

3.   What are you doing to shorten the sales cycle?

If sales are more difficult today then it seems logical that facilitating an easier process for those who do have interest would make sense.  What steps are you taking to simplify your message?  What technology is available to facilitate quicker delivery of information?  Are you still hanging on to the old school method of creating interest and following up with several different marketing pieces?

4.  What sales reports do you use?

The information assembled from your sales staff is priceless.  Why are buyers not buying?  “The economy” is an easy answer and is often times true but the right product at the right price can win a percentage of those deals.  Here is a good one that came from a qualified prospect:  ”We don’t want to rub our success in our friend’s faces” was the gist of their objection.  People are choosing to wait just because it might look bad if they make a $250,000 purchase right now - in their eyes, it’s not a very ‘responsible’ use of their money… even if it actually is.  Get my drift?  You can’t help someone over the goal line if you don’t know what their real objections are.  It’s too easy these days for a prospect to throw out this classic line:  “we’re just going to wait a while and see what the market does”.  Not knowing for sure what the true objections are will sink your ship.

5.  Have you thought about creating more products?

I’m not referring to adding a timeshare component or re-designing your floor plans.  But maybe there is some merit in today’s market with different levels of membership to help broaden your target market.  Maybe a corporate option isn’t a bad idea?  A more flexible option designed for corporate use that individuals can choose to upgrade to.

6.  Are you embracing new marketing techniques?

Social media is the big deal today and should be included into your marketing mix.  Notice how I say “should be included”; this does not mean pour all of your money into Facebook, Twitter and your blog, but they definitely need to be a slice of your pie.  These outlets are quite inexpensive as well and can help you get exposure for very little money if done right.  In other words, go easy on the $20 per piece marketing brochures for a while and get more information out there faster and cheaper.

7.  What suite of incentives are you offering?

Buyers are looking for a little something extra because they know they can get it.  What do you have planned for them?  Of course there is the popular ‘Charter Membership’ opportunity, but what else?  Have you looked at various referral incentives that can be used for the owners you have already closed?  What does your owner communication program consist of?

8.  What urgency tools are you going to use?

The sales process in this market can move at glacier speed.  There are methods to move your interested customers along.  For example, if you are in pre-construction, there are clever ways (outside of price increases) to provide more incentive to put down a deposit sooner.

The bottom line:  you have options and there are several clever ideas that you can implement today to boost your sales pace. We at Pierce Group spend most of our time answering the questions above and gathering valuable new ideas.

Learn more about our services here or contact us for a free phone consultation.

Eric Pierce

President - Pierce Group, LLC

Foresight Costs Less Than Hindsight^SM

Arguably the most valuable service provided by any reputable real estate consultant is the ability to prevent costly mistakes for their clients.  Not only does this apply to the fractional consulting industry, it’s magnified.  Our industry is still relatively young compared to its predecessor, the timeshare, and the majority of real estate developers have yet to embark on the development, sales and marketing of any type of fractional ownership real estate.

If I had a nickel for the number of times I’ve heard this: “We’re going to sell this project out through the local real estate community”, I could retire and buy fractional interests around the world!  This brings me to the list of most common mistakes made by new fractional real estate directors.

Mistake #10:  “We’re going to go with Super Duper Advertising Company because they have sold more than $10 Billion in luxury real estate.”

Not so fast.  It might sound logical at first, but selling out a project in 2004 was about as difficult as selling a cheeseburger at McDonalds.  Look for companies that have had some traction this year - yes they do exist.  The ability to defy the odds and sell real estate today indicates that the advertising company has the ability to adapt to different markets and reach out to buyers no matter how difficult.  This quality is very valuable so pursue these companies even if they have never heard of fractional ownership.  The fractional expertise is what you have Pierce Group for!

Mistake #9:  “It didn’t sell wholly so it will sell fractionally.”

Not Really.  Is there a chance that your stalled condo project could sell fractionally?  Of course.  Is it a lock?  Absolutely not.  Often times a traditional real estate development won’t sell because of traditional issues, or traditional errors.  If the project is a mile and a half from the beach and all you have is a tennis court then it probably won’t sell fractionally.  Before you convert it, seek out an expert opinion.

Mistake #8:  “We’ve set aside the traditional 5% for sales and marketing.”

Wrong.  A fractional real estate sale is a different animal.  No longer are we selling marble countertops and hand-crafted cabinetry.  This is a lifestyle message that requires more explanation around the effortless experience and practicality of ownership.  When was the last time you saw the explanation of a reservation system on the web site of a typical whole ownership gated community?  Your costs will be significantly higher for more advanced brochures and web content.  Additionally, more outreach is required.  The MLS (in most cases) won’t even bring 5% of your sales.  The real estate community won’t be your answer either - reference Mistake #2 - so a full on-site sales team is needed and there are plenty of extra costs associated with that.  Don’t worry developers; the difference will be made up in higher sales revenues.  We’ll leave that for a different article.

Mistake #7:  “We’ve decided to leave out the exchange program; it sounds too much like a timeshare.”

Incorrect.  The key difference between timeshare exchange and fractional exchange is that timeshare buyers more often make their purchase decision based on the exchange component.  The reverse is true for fractional buyers - they purchase because they love the location - the exchange is simply a bonus.  Your sales team understands this and never leads a conversation with an explanation of the exchange benefit.  The exchange affiliation is a tool that can add credibility to your project and help get your prospects over the goal line.

Mistake #6:  ”One sales team will be responsible for selling all of our residential products.”

Don’t do it.  One team should sell your fractional product; another should sell your whole ownership product and so on.  Each team should be masters of their own product and be able to handle product specific objections.  A little competition is healthy.  Of course, gun slinging and infighting among sales teams doesn’t do any good so set the ground rules from the start, put together a good internal referral program and it shouldn’t be an issue.

Mistake #5:  ”We are hiring local real estate agents to run the sales office.”

Not so fast.  While some local real estate agents might be well qualified, many are not - I’ve seen both.  The fractional sales position requires skills like… listening.  This is not an easy skill to learn and many sales people will simply never be able to grasp this concept.  Vomiting features and benefits all over prospective fractional buyers is as effective as a two for one special at a super-yacht dealer.  Reach out of the box when hiring your sales team and don’t concern yourself so much with whether or not the candidate has a real estate license.

Mistake #4:  ”We have rock solid legal documents that protect us no matter what!”

Go easy here.  Typically, legal documents are written by attorneys hired by you, the developer.  So it is your attorney’s job to protect you, their client.  This is completely understandable but at the same time it is to your advantage to make sure the documents are sales friendly - i.e. free of sales land mines.  In the case of fractional sales, the documents are lengthy and include things like Public Offering Statements and references to timeshare.  Our industry still falls under timeshare regulation; actually a good thing for the buyer but can look scary nonetheless.  Buyers will have their own attorney’s, accountants and/or financial advisors look through them.  So get those sales land mines out of there by having your trusty fractional consultant review them.

Mistake #3:  ”We already know our ratio is 8:1 and what our price will be, we don’t need a feasibility study.”

Never skip the feasibility.  Why did you choose 8:1 and not 6:1 or 10:1?  What criteria did you use in setting your price?  There are reasons why we come up with the appropriate owner to residence ratio as well as the reservation system.  These reasons come out of research performed during valuable feasibility studies.  Remember, a project cannot be sold by even the most skilled sales people if the product is structured incorrectly or priced incorrectly.  Spend a few bucks up front to ensure that you are starting off on the right foot; it will save you oodles in the long run.  We like to say it this way: “Foresight Costs Less Than Hindsight^SM“

Mistake #2:  “We’re going to sell this project out through the local real estate community.”

No you’re not.  Don’t confuse this with Mistake #5; here we are referring to spending very little on traditional marketing avenues and re-directing those resources towards educating the local real estate community to sell for us.  Sounds decent in theory but never works.  To go this route assumes that the real estate community is willing to spend their valuable time and energy learning a new product with a sale price equivalent to a “fraction” of a traditional whole ownership sale.  Commissions are lower so an agent’s interest and excitement is usually lower as well.  This is not to say that there are not local agents that will understand the product and embrace the opportunity to offer a practical alternative to their trusted client list.  It is simply not a strategy that can be used to sell an entire project.

Mistake #1:  “We’ve read this article, bought a couple fractional books and have now gathered all of the information we need.  We no longer need a professional consultant.”

Not so fast.  First of all, we have just scraped the surface in this article.  You will be faced with hundreds of decisions that can prove costly if not handled correctly.  The majority of what you will face throughout the project development, sales and marketing lifecycles cannot be found on the internet.  Second, selling this product requires extensive training, followed by more training and then additional reinforcement training.  Explaining the fractional concept to buyers is an art and must be done at the right pace as to not confuse them and send them away without completely understanding what you have to offer.  See To Vomit or Not to Vomit.  Third,   every project is different and you should not be expected to understand the intricacies of how each reservation system is designed and why.  Stick with what you do best, find attractive properties and put together the right team that can work interdependently to create something special.

In summary, eliminate mistakes and save money by reducing costly expenses associated with errors that could have been prevented at the start.  Fractional ownership is not only a practical decision for your buyers but for you as well.  Learn it, love it, embrace it; do it right the first time and watch your profits grow!

More information here:  Pierce Group Feasibility Study and Pierce Group Project Development Services

I’ve become a Twitter fan.  And recently I’ve started following some professional athletes because let’s face it, it’s more fun reading about who the Mariners are going to trade than tweeting about fractional real estate all day long.  So as I read through various tweets - namely Matt Hasselbeck and various other members of my beloved Seattle Seahawks - I can’t help but notice that these machines that perform every Sunday are actually real live people.

As I read these tweets I am learning more about these athletes and what they do from day to day.  For example, last Sunday Hasselbeck was in the middle of a water balloon fight, I will assume it was with his kids and that he’s not risking another back injury trying to beam third rounder Deon Butler.  If there were no Twitter I would have thought he was simply plugged in to an outlet at Microsoft headquarters waiting for a software upgrade.  But now I realize that he’s a human being and does normal stuff.  He’s kind of like me, similar age, has kids, you get the picture.

Now I find myself really dreading the first Seahawks loss of 2009 (if they actually lose that is… we can all dream).  Not only am I going to feel totally annoyed and depressed because my favorite team lost - as I did 12 times last year (ehhem) - I will feel even worse for the players that I follow on Twitter; unless of course one of them tweets “Tough loss, going to Sushi!”

Also, the press conferences after the game will really be a let down from now on.  Twitter will confirm for me that 99% of what athletes will say will be complete B.S., because after the press conference I’ll be able to read what they really have to say on Twitter.  The frustration will lie in the acknowledgment that these real life humans will decide on their own to give robot responses like, “We just need to take it one game at a time.”

I’m looking forward to reading something real on Twitter this season.  Instead of the robotic “We just didn’t execute for a full four quarters” response, I want to read Hasselbeck tweeting, “Housch made the Pack’s secondary look like a glacier” or Walter Jones complaining about how “some joker poked me in the ear hole today!”

Twitter is doing for professional sports what Fantasy has done; it is leading fans to care not only about the team, but the individuals on it.  That’s powerful stuff, if I’m Bud Selig, Roger Goodell, David Stern or Gary Bettman, I’m a Twitterbacker.

Now for me, the fan, I’m heading to buy a Costco-sized supply of Pepto.

Eric Pierce - A Seahawk, Mariner, and former Sonic fan now residing in Boise, ID

Some intriguing numbers…

Let’s take a look at how the Shared (Fractional) Ownership industry compares to the Whole Ownership industry today and in 2004. We know that both industries grew during 2005 and 2006, started to decline in 2007 and experienced a virtual stand still towards the end of 2008.  However, what we see here is that Shared is holding its own and has actually gained a percentage point in market share from Whole.

Shared Ownership                    Whole Ownership

2004     $1.54 B                                     $165.7 B

2008     $1.52 B                                     $76.8 B

%              -1.3%                                        -53.7%

*Shared Ownership numbers from Ragatz & Associates and includes Fractional, Private Residence Club and Destination Club sales.

**Whole Ownership numbers from National Association of Realtors® annual Investment and Vacation Home Buyers Survey

While the fractional ownership industry has been getting a lot of press lately and many believe (as do we) that it will lead in bringing back the resort real estate market, resort developers should keep in mind that there is still room for whole ownership.  And while whole ownership sales levels are expected to remain lower than in years past, it still has a place.

Let’s review the most common objections that fractional sales teams hear:

1. I’m looking for my own place
2. I don’t like to share
3. We want to be able to come for several months
4. We want to be able to send anybody we want
5. We want to be able to rent out to cover some of our costs

For those prospective buyers that continue to harp on these needs and insist that fractional ownership is not for them, why not have offer something else?  Many developers are either purpose-building or converting 100% of their units to sell fractionally and therefore risk losing prospective buyers to whole ownership competition.

There are several safeguards that must be in place to pull off a multi-use residential sales plan so let’s review them here.

1. One sales team for each product offering - no exceptions
2. Separate the residences - Physically and legally
   • A whole ownership buyer will not be paying fractional dues multiplied by 8 - two separate HOA’s will be needed
   • By no means should the opposing sales teams be selling the same product.  This gets ugly… very ugly, no exceptions here either.
3. Cost per night must make sense - The price points should be structured so that fractional ownership on a cost per night basis is still a better alternative than whole ownership with rental revenue.
4. Structure the legal documents - allow for flexibility in the contracts for altering the product (residence) mix if need be.
5. Create a strong referral program - a little competition between sales teams isn’t bad, as long as it’s a little.  An internal referral fee between sales teams is a good idea.

If the fractional and whole ownership products are structured properly, there are benefits to multi-use residential sales.

1. Fewer contracts to sign - if a project has 20 residences and they are all sold at 8:1 then there are 160 contracts that need to be signed.  If 10 of those however are sold wholly, then only 90 contracts would need to be signed.
2. Faster sell out - in the example above, the sales teams have 44% less sales to make which should translate to a sell out period that is at least 44% shorter.
3. Lower carrying costs - Real Estate 101, sell faster and watch expenses disappear.
4. Higher closing percentage - it only seems logical that if a buyer is firing away with those common objections they will likely go to nearby whole ownership competition.  Be that competition.
5. Larger target audience - Let’s face it there are those who choose not to buy fractionally.  In their minds they have earned the right to have a home sit vacant for 11 months every year.  Provide something for them as well.

Of course, proceed with caution when putting together co-existing fractional and whole ownership programs.  Common mistakes can be made up front that can extend the sales cycle thus shooting expenses into orbit.

The Bottom line:  the market will recover, be ready.

The first step in being ready is a proper feasibility analysis.  Discover Pierce Group’s comprehensive and affordable feasibility study here.

FORESIGHT COSTS LESS THAN HINDSIGHT^SM

Finally an upscale fractional development has arrived in Chicago!  James Place Private Residence Club has launched sales of 1/12th interests in very upscale two bedroom and two bath residences.  Now future owners have the opportunity to make a more responsible second home purchase decision and still enjoy what they love the most, Chicago.

Owners will enjoy all of the services and amenities one would expect from the finest Chicago hotels but own the added bonus of virtually unlimited access.   We installed the Personal Choice Reservation System at James Place.  This flexible system allows for abundant usage of all of the Club’s 40 residences and eliminates the issues of reduced availability born from restrictive systems common in other fractional developments.  All of the residences are available to all owners and are identical in size and decor, designed to provide owners with a comfortable and quiet living space - exactly what is needed in a bustling city!

Charter price is now set at $140,000.  Interested parties are encouraged to inquire soon, the club is priced to sell now.

In addition to an inflated commission structure, Real Estate agents around the world are encouraged to sign up for a landmark referral program at EarnAMill.com

For more information contact Rick Mendoza, Sales Director at Rick@BellaGRP.com

The dissemination of information at the early stages of the sales process has long been debated and there are believers in both sides - holding back information and throwing it all out there.  Let it be heard (read) here, times have changed and the process in which we provide information to interested prospects is a crucial element of the sales process.  Fractional sellers need to provide a wealth of information so buyers can educate themselves.

The typical perception is that the information might be too complex and too confusing, or the reader might directly relate the project to timeshare and thus lose interest before completely understanding it.  So marketers will throw a little bit of information out there with the hope that enough interest is created resulting in more inquiries.  Therefore, the sales process is often extended into months rather than weeks.  We all know that this industry is nothing like timeshare and these fears must be conquered.  The prospect must be provided the information needed to make an educated and informed decision in a reasonable amount of time, a 90 day forecast to contract is nonsense.

The debate is this: if we present too much information too fast then the vomit effect comes into play and the sale is lost.  Most sales people who have been subjected to any type of basic sales training course have likely been introduced to something similar to what I like to call the “Vomit Crevice”.  It’s not pretty, but “Vomit Crack” was even worse.

The premise is that sales people stand on the edge of an empty crevice which lies between them and their prospective buyer.  This crevice represents the buyer’s lack of understanding of the product or service they are considering.  The only way to facilitate a connection between the buyer and seller is to fill up that void with valuable and relevant information that is important to the buyer.  Each valuable and relevant question answered represents a large boulder that is tossed into the crevice.  The result is a crevice that has been filled with a solid foundation of boulders (information) thus giving the prospect the means to walk across and shake hands - a closed sale.

However, many young sales people are hell bent on spewing as much information as humanly possible regardless of whether or not the buyer actually cares about any of it.  This is a classic rookie move.  The default for freshly-trained sales people is to vomit every bit of detail about their product or service that they have just learned in their product training classes.  (This is where it gets really gross.)  A crevice full of vomit is nothing but a disgusting pool that the prospect will sink into when attempting to walk across and therefore results in a lost sale for the sales person.  Needless to say, no buyer is going to shake the hand of someone who just led them into a pool of vomit.

How does all of this apply to fractional ownership sales?  Easy; fractional sales people have a more challenging task than a typical real estate agent.  Fractional folks don’t play in a world of just granite countertops, cherry wood floors and 5,000 square feet.  That stuff is easy.  In the fractional world the prospective buyer must completely understand everything from why it is a logical real estate purchase, to the unmatched experience provided in residence, to the fair and flexible reservation system and why it’s not a timeshare.  You can see why it becomes very easy for a fractional sales person to become completely immersed in all of this information and commence vomiting all over the place.  Information starts flowing about the Residence Club’s logarithmic tie-break system when the prospect simply wanted to know if they could go skiing next year.

So, you’re thinking the clear lesson here is to make sure that your sales people do not spew all of their information up front and take it one step at a time, easing the prospect into those nitty-gritty details.  Not so fast.  There is another factor at play here; closing the deal while the iron is hot.  This is a major rebuttal to the vomit crevice.  After all, in similar fashion to the “first 48″ that cops have to catch their criminal, sales people have a limited window to reel in their interested buyer as interest can fade almost immediately.

This is basically a catch 22.  It seems as though the answer is to proceed with information overload to try and bring in the sale while the prospect is hot.  Actually, this is correct.  The way to do it is with coordinated messaging between your sales team and your sales materials.  When I refer to sales materials I mean marketing brochures, FAQ’s and the website.  A second document entitled Advanced FAQ’s should also be considered for those hot leads in the final stages of the sales process.

Too many times I look through web sites of Private Residence Clubs that have literally no information except the beautiful mountain surroundings and granite countertops.  This is the “tease strategy” and the idea is to get the buyer interested enough to make the phone call so the sales person can take over.  The result…  vomit.  The poor prospect has now been completely overwhelmed with (deep breath) planned vacations, space available vacations, the flexible tie-breaker system, pricing, supply and demand, HOA dues, consumer financing, the daily tidy vs. the mid-week clean, the reservation deposit, no pets but your brother can use it but only on planned vacations, and I almost forgot - the upcoming price increase.

Next will surely come those famous words: “I’m not interested in a timeshare”.

Don’t go this route.  Give the prospect more information before they call.  An informed prospect is a valuable prospect.  Put the price on your website!  Yes, I’ll say it again.  Put the price on your website! If the price is surrounded by valuable information regarding how the club works along with the unmatched experience that is provided then the price will look great and the phone will ring.  What you don’t want to do is vomit all over your website, there is a happy-medium here.  Simply put, there is stuff that can go on the site and there is stuff that can’t.  For example, explaining how the “rotating priority tie-breaker to be fair to everybody” policy works should NEVER be explained in any detail on the web site.

The sales team should work in concert with the marketing team on the dissemination of information to the buyer.  The sales person should hang up with an excited buyer, not confused.  They should be anxious to read more detail on the website or in the e-brochure that has just been sent to their inbox.

In summary, we must vomit to a point; a point that creates excitement and moves the sales process forward in an efficient manner.  However, the spewing should be done by the marketing materials and the web site in addition to valuable information from the sales team.  As the sales process moves along the questions and answers will become more advanced and cover more detail.  It’s much easier to explain the “rotating priority tie-breaker to be fair to everybody” policy when the buyer is already excited for their first trip.

Now start spewing.

FORESIGHT COSTS LESS THAN HINDSIGHT^SM

I have recently announced a new Fractional Project Assessment service that I believe can be a huge benefit to developers.  It is priced right for the market and for developers who are not thrilled about spending huge amounts of money.  It’s a basic review of their project from all sides with recommendations.  This can be a huge mistake-prevention tool for developers who can’t afford to spend more money on full consulting services.  It’s only a $2,500 one time fee and goes hand in hand with what we preach “Foresight Costs Less Than Hindsight”SM  Read more about the Assessment at PierceGroupLLC.com.

It is great to see Fisherman’s Cove Key Largo moving forward with NFL great and Fox Sports analyst Jimmy Johnson. I had the pleasure of working with the developers on this project and it is a fantastic piece of property, with supurb accommodations.  But now it appears that it will get even better. Here is the article from FractionalReport.com:

Jimmy Johnson’s Fisherman’s Cove is an exclusive Private Residence Club located on Key Largo, Florida.

The club has recently partnered with the former football coach to add his name above the door, and his inputs and presence at the club and its amenities.

The Big Chill, a waterfront dining and entertainment facility, (now aptly called Jimmy Johnson’s Big Chill at Fisherman’s Cove) is sporting an inviting new theme to entice both residents and tourists alike: Come Chill Out with JJ. “The convenience of having a place to play just a few miles or so from where I sleep was a perfect find,” says the retired championship coach. “And not only that, they’re allowing me to make it even more perfect.”

Read the rest of the article here:

http://www.fractionalreport.com/private-residence-clubs/jimmy-johnson-florida-club-0509.html

“Conspicuous Leisure” was a term coined by American Economist Thorstein Velben.  Per Wikipedia: “The term denotes visible leisure for the sake of displaying social status. The term is generally reserved for those forms of leisure that seem to be fully motivated by social factors, such as taking long vacations to exotic places and bringing souvenirs back.”

It appears that we are shifting away from this “Conspicuous Leisure” and its parent, “Conspicuous Consumption”.  Yes, our retirement portfolios have taken a hit and it’s a lot more expensive to fly privately and to relax in fully stocked, wholly-owned pied-a-terres but I think it goes deeper than that.  Add the “Green” element – i.e. waste conservation et al – and conspicuous consumption just isn’t cool anymore.  To put it another way, I doubt John McCain is too thrilled about owning seven homes right now. 

What is cool?  Sharing is cool.  Fractional is now hybrid; it’s the Prius.  Sure, mega rich socialites in Hollywood could afford any gas guzzler of their choosing but that’s not cool to them.  It isn’t cool because it isn’t right.  Not only is it trendy to proclaim multiple second homes as waste dumps, it’s accurate.

Private Residence Clubs, the top shelf answer to fractional ownership, offer the best of both worlds; high-end vacation digs in a responsible fashion.  In most cases, the residences are ultra upscale, furnished as beautifully as your own home would be.  Owners are pampered as they would be in a five-star resort and typically the reservation system allows them to use the club as they choose.  BUT, the owners are sharing this real estate and conserving valuable resources, there is nothing un-cool about that. 

In just one Private Residence Club development a couple hundred boomers, Gen X’rs, Hollywood moguls and professional athletes can all enjoy the same high-quality accommodations and services as they would have with their own home.  No one has to watch several hundred acres of beach front being converted to enormous second home properties that sit empty for 48 weeks per year with the A/C running. 

A note to you socialites and pro athletes:  many (if not most) Private Residences Clubs will still offer the privacy you’re looking for.  Now you can have your gorgeous second home (or seven of them if you choose) without all of the extra cost, waste and un-cool conspicuous consumption that goes along with it.  A little (organic) food for thought.

Eric Pierce