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STAYING ON TOP FOR 30 YEARS

Posted by Steve ADMIN on Friday, August 18th, 2017 at 9:24am.

Committed to Serving our Community

 

It has now been over 30 years since the founding of Mountain Resort Properties. 30 years of a singular focus of selling homes at the resorts in the valley. Mountain Resort Properties, (MRP), has done so at Crystal Springs, Great Gorge Village and Mountain Creek with the most annual listings and sales for virtually every one of the past 30 years. Being known as the ‘go to’ agency that will not only get your client’s home sold, but maximize their value so you don’t leave any money on the table. How do you achieve that? Hard work, experience and focus.

Long ago when I formed MRP I didn’t want to be another Sussex County brokerage. I wanted to service the customer to whom I was selling new homes and to specialize in resort properties. Little did I know back in the 1980s that the resort valley would grow from a few hundred condominiums at Great Gorge Village to thousands of homes in dozens of resort developments. I was fortunate to list and sell virtually all of the new developments in the valley. It wasn’t hard to obtain the new home listings as I was the developer and the builder of virtually all the projects. While I could have out-sourced the sales, it was important to me to control the sales process and the message about the offering. So often inexperienced brokerage firms fail to understand the intricacies of resort housing and inadvertently misrepresent. Understanding how property associations and rental programs work isn’t easy. Condo-hotels can be very tricky and it was critically important to me not to oversell the income potential of these projects.

Resort real estate is also unique in that to service your customers there are no holidays and no weekends off. Our customers expect seven days a week service.

As one of my former agents Nigel said, “My customers want to conduct business with me during the week and then party with me and their friends on the weekends. I’ll tell you I met a lot of buyers from friends of friends with whom I shared a round of golf or a cold beer. This is a seven day a week job.” With offices located throughout The Resort our buyers The Resort during the holidays, so we are always open. Hard work is all we know.

Great leadership is critical for success as well and I’m fortunate to have had Glenn Schechter as my Sales Manager from almost the beginning. His experience is irreplaceable and his dedication to The Resort and the owners is renowned. Understanding the history of the homes, which ones have problems, which are well maintained, knowing which units get hit by golf balls occasionally and which don’t, all of these details are learned from many years of focus in one market.

But beyond just knowledge, Glenn has established an impeccable reputation of integrity and dedication, characteristics ingrained in the Mountain Resort Properties culture.

So after 30 years in the business, I look back on what was achieved and sold: all 1,500 homes in Great Gorge Village, most of Crystal Springs 800 homes, both Minerals and Grand Cascades Lodge and two condo-hotel projects with over 350 units. Also throw in 3,000 vacation ownership interests. I even played cleanup at the Appalachian condo-hotel and Black Creek after Intrawest failed to sell these projects out. After acquiring the properties in 2010 with a partnership, MRP was asked to move the remaining inventory and in a little over a year we sold about 100 of the homes Intrawest had failed to move.

What was even more remarkable than this success was the success we achieved at the same time with the same sales staff to market and sell successfully all the resales at The Resort that were effectively competing for the new product. How did we achieve this? Commitment and loyalty to our investors. Putting their interests right up there with our own. We recognized that we had to service this secondary market if we were to achieve success with new projects. So we applied our expertise in marketing and product knowledge and made it happen. In 2007 alone we sold over $100 million in resort real estate, with a large portion of this amount being resales.

While we have seen a lull in development these past few years, as the market tries to recover after the deepest real estate recession since the Great Depression, the future remains bright. We have focused on servicing the homeowners in what has been a tough market.

That all said, what has driven me and my company is the love of this area and the drive to share this beautiful and fun place with other fun loving people. I’ll always remember one original Grand Cascades Lodge buyer who came up to me a few years after buying. He cornered me in the hallway and I didn’t know what to expect. He went on to tell me buying at Grand Cascades Lodge had changed his life and that it was magnificent! That kept me smiling for quite some time and made me want to do it again.

Andrew Mulvihil,  Owner/Developer

 

 

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