Luring Sales

On a rainy Saturday morning last October, the developers of the low-density, lakeside resort project Firefly Cove, on Lake Lure near Asheville, N.C., sold 24 home sites and condominiums—representing $15 million and accounting for more than half of the first phase’s release—within three hours.

Now the how: A combination of anticipation, exclusivity, technology, and a two-day event culminating in the frenzy that occurred that morning. Having taken reservations from 50 potential buyers, requiring only a refundable deposit of $1,000 for parcels priced up to $1.6 million, the developer and its sales agency, Private Mountain Communities (PMC), allowed only those prospects to visit the site in the two weeks leading up to the grand-opening event. On a sunny Friday, would-be buyers enjoyed one final guided tour as well as boat and helicopter rides to get a final view of the property, followed by a catered party. The next morning, prospects (prioritized by their reservation date) kept scheduled, 15-minute appointments with PMC to complete the sale. While some fell away as sought-after lots sold ahead of them, the sales team achieved a 50 percent closure rate.