By Mark Huffman | April 17, 2019
Jackson real estate agent Julie Faupel has a new service that aims to link high-end customers around the globe to property in ways that go beyond just matching their price range to the number of bedrooms they want.
Realm goes into business June 1 as a “curated luxury lifestyle digital content platform.” That means a link to 2.6 million potential buyers with an average worth of $29 million who own property with an average value of nearly $1.7 million. They’re in 192 countries including China, Switzerland, France, the United Kingdom, Dubai, South Africa and Argentina, according to Realm promotional information.
Faupel and her husband, Matt, own Jackson Hole Real Estate Associates, the Christie’s International Real Estate affiliate in Jackson Hole. The firm has about 100 agents who will have access to the subscription service and, through it, to other real estate people worldwide. Faupel will act as CEO of the new service. Also associated with Realm is Thom Gruhler, the former chief marketing officer of Microsoft, and a participant in the recent Global Networking Event held by Jackson Hole Real Estate Associates.
Gruhler said in a statement that the “machine learning and artificial intelligence” system used by Realm “redefines modern real estate while preserving and strengthening the human relationships that are at the very core of a successful luxury brokerage.”
“The global luxury real estate category is a multi-trillion-dollar industry, but current techniques do not meet the demands of modern global clientele,” Faupel said. “We are capitalizing on things we know about clients we’ve worked with previously … and also subscribe to third-party services and use publicly available information on the internet.”
Faupel said information linked through Realm will expose Jackson Hole real estate to shoppers around the world in a way that’s more than square footage and dollars. There’s a focus on people who are more than buyers for investment, who see “real estate is the introduction to a community.”
Faupel said agents at Jackson Hole Real Estate Associates “end up having a lot individual insight about our customers, their architectural preferences, their lifestyle preferences, their philanthropic preferences … they know if somebody has an affection for something that’s slopeside or is adjacent to conservation property or if they have young children.”
The approach is “on lifestyle and passion,” according to Realm materials.
Realm links to other real estate and financial advisors around the world who are recruited and share information, and then to open-source information about people suited to the Realm model. One connection is to the service Wealth-X, which offers Realm “access to over 1.2 million profiles of high- and ultra-high-net-worth individuals,” Faupel said.
When likely connections are discovered, the approach is via the professionals who are already part of a potential client’s life, not just tracking people down through data mining and sending them an email.
“We want to be introduced through other trusted advisors, rather than a cold call,” Faupel said. “We know how a cold call works.”
Realm “provides a significant way for me to expand my reach and engage the right clients,” said Davis Kornmeier, a real estate agent at Brown Harris Stevens in New York City. “Ultimately it helps distinguish my sales process from the competition by bringing my lists to prospective buyers through their network, while also gaining additional highly qualified, vetted leads in a confidential environment.”
Firms that have connected to Realm are Strand Hill Properties, Richardson Properties, Bayley’s, CDR San Miguel, Provaltur International Inc. and Turpin Realtors.
REALM will be launching soon. To learn more, please contact us.