09:00 How To Sell fractional Valerie McDermott has been successfully selling luxury fractional real estate in the United Kingdom for the past 4 years. The speaker explains the various techniques she uses within the sales cycle and the points to consider when selling a luxury fractional product over whole ownership.
Valerie McDermott, Membership Executive, 47 Park Street - Grand Residences by Marriott
Valerie McDermott is 47 Park Street’s leading Membership Sales Executive, having sold a record number of fractions in the first three quarters of 2009 alone. She has worked at the residency for over four years and knows the fractional property market inside and out.
Born in London but raised in Calgary, Canada, Valerie started her career in the fashion industry in the early 1990s. As a manager of her own successful textile business, Valerie regularly found herself travelling the world and quickly fell in love with London - so decided to move here permanently.
She started working at 47 Park Street in 2005 and has never looked back. Priding herself on her ability to immediately connect with potential Members, Valerie’s successful selling style is built on her natural curiosity and interest in people coupled with the desire to find the perfect property solution to match their needs.
47 Park Street is a private and exclusive residence club located in the heart of prestigeous Mayfair. It's membership offers frequent travellers to London an intelligent alternative to traditional property ownership or hotel stays.
The property consists of 49 one-and two-bedroom residences only, which are sold in 13 fractions each. Members can purchase one or multiple fractions and each fraction allows them to use their residence for a minimum of 21 nights per year however they see fit. Additional nights can be purchased on an ad hoc basis at a low per diem rate. Alternatively, Members can rent out some of their allocated time or exchange it for time at one of the Ritz-Carlton Club resorts in the US.
The residences are elegantly furbished to the highest standards of Marriott Vacation Club International and spacious in terms of actual size and space experience, varying from 53-97 sqm.
Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.
Prices currently range from £111,000 to £260,000
The residences truly feel like a private home. As such there are no 'hotel' amenities on site. However, Members are granted privileged access to exclusive partner clubs in Mayfair, including Pasley-Tyler, Morton's, Spa Illuminata and the health club at the Marriott Park Lane, which enhances the Members' lifestyle when in London. In addition, Members enjoy special privileges at The Royal Opera House, The London Golf Club and the Dali Fine Art Gallery. Michelin starred restaurant Le Gavroche is located in the building, with a Members private access door. Hotel services include Clef d'Or Concierge, 24 hour In Room Dining, twice daily maid service, valet and in house florist.
Once Members have joined the club, their booking arrangements are looked after by a dedicated Member Services team, who have a private phone line and direct email address. The team is highly knowledgeable about the Member's personal preferences and specific requirements, to ensure all expectations are met, if not exceeded. In addition, the team will advise the Members on rental opportunities if appropriate and/or any other usage options.
47 Park Street, Grand Residences by Marriott is London’s first property to introduce the innovative concept in private residential club membership, offering Members an intelligent alternative to second home ownership. It not only eliminates the financial commitment and maintenance worries usually associated with traditional property ownership, but Members also enjoy a truly flexible, hassle-free and enhanced way of life in London. Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.
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