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Our subject matter is largely made up of questions we are asked by clients and other individuals considering Park City as a place to own or to visit. Most of the questions we are asked pertain to our Golf and Ski communities, but we welcome any questions relating to the Park City market or any real estate topic. We will address every question honestly and answer to the best of our ability. We respect our competition but we don’t shy away from discussing differences in product and services when asked. In addition to answering your questions, we enjoy sharing stories of our clients successes, open houses and Golf, Ski and community events of significance.

 

What is the impact of international buyers in the Park City market?

By Darrick Olsen
Jun 04, 2014

Question:


What is the impact of international buyers in the Park City market?

Answer:


After all of our success in hosting the 2002 Winter Olympics, many word cup events, and the publicity surrounding our Park City based athletes in the recent Sochi Olympics, we have been surprised at the small impact that international buyers have had in our market. Looking at estimates of international buyer transactions (which range from 1-3% of total MLS sales), we see evidence that international buyers act only after repeated exposure to Park City as vacationers. In most cases, we meet international buyers when they visit here much like we meet domestic buyers. Our 14 office locations have been important assets in this regard and our foreign language enabled property websites have been key in follow up communications. We do believe international business will grow in the future and we are hopeful that as Berkshire Hathaway Home Services expands internationally, it will aid our efforts to attract these buyers. The Berkshire Hathaway brand is recognized and admired worldwide. Our experience over the past 10-12 years has taught us that passive advertising in foreign countries does not deliver results for our sellers. To put it bluntly, “international exposure” has over-promised and under-delivered. We see our future efforts being focused on a more proactive approach.

 
 
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