Just last month, Craig Hogan, director of Coldwell Banker Previews, signed a contract with Prism Development, the developer of the Ritz-Carlton Residences, for Coldwell Banker Previews to be the property’s exclusive listing broker. Although the condo development had been exclusively sold by a previous brokerage since its groundbreaking in 2009, Prism Development was ready to make a change – the company selected a few brokerages to go through a diligent interview process, and Coldwell Banker Previews stood out from the crowd as the obvious winner.
The brokerage put together a “listing presentation of a lifetime,” according to Hogan, and he is confident that Coldwell Banker Previews can sell the remaining units in the building; there are 89 total units in the building, and nine units have been sold.
“The building is ready, the units are ready and residents are living in the building now. It’s a new day,” Hogan says.
Hogan believes Coldwell Banker Previews’ international reach is part of why Prism Development chose the brokerage to be an exclusive broker; Coldwell Banker is in 50 countries, and Hogan is prepared to market the property to local, national and international buyers through its high-end marketing capabilities in every aspect: digital, print, social media, national websites and the MLS. The property will be back out for, literally, the world to see.
“Chicago is one of those cities where it’s a hub in the Midwest; we attract interest from all over,” Hogan says. “Add to that the Ritz-Carlton brand and what people expect from the brand, and now is the right time to sell these residences.”
In addition, the brokerage and Prism Development are also working with Markethooks Consulting, an exclusive marketing company, and everyone’s goal is the same: leave no marketing outlet untapped. Coldwell Banker Previews also has two new agents, Jane Shawkey and Rachel Bailey, who were part of the original sales team; the two agents have been selling Ritz-Carlton Residences since 2009.
“Everyone at Prism and Markethooks has been wonderful to work with, and we were so glad to get Jane and Rachel both,” Hogan says. “They knew the product better than anyone else, and we felt it was important that there was a seamless transition (from the previous brokerage). Because of how monumental the development is, it’s brought so many incredible people together, and it’s been wonderful to work with everyone, and it is business as usual.”