A client flew to Texas to visit a 90,000-acre ranch that was on the market. He surveyed the property, and ninety minutes later he asked for a contract. The price was set in the several millions.
“The buyer felt an immediate emotional connection to the land,” said Louis Cushman, Vice Chairman of the brokerage firm Cushman and Wakefield. “He might hunt there once a year, and never visit again.” What he appreciates is the chance to stand stalwart against development. And he appreciates the chance to be a part of a well-marketed image of distinctive country living.
To find this big earning, conservation-minded buyer is the purpose of a joint venture between Orvis and Cushman and Wakefield. The new company-to be named Orvis Cushman and Wakefield-will give property global exposure to find client’s who want to partake in a rural lifestyle that has been presented in Orvis catalogs over several generations. It’s the image of walking amidst ancient live oaks on a Carolina plantation while wearing a fine Harris Tweed, and it spurs these wealthy few to drop several million on a historic, preserved tract of land. The hope is the property will be transferred to buyers that have the attitude and the resources to help actively conserve it.
High-end ranch and recreational properties constitute a $10 billion business that is managed now by small franchises and regional brokerages. Sales are often limited to locals, which can keep the value down. The land is sold as nothing else than what it is: land. Now, with a real estate power player such as Cushman and Wakefield and the marketing strategy at Orvis, land is much more than just land, it’s a lifestyle.
“The emotional connection to rustic living is what drives this new market,” John Watson, President and CEO of Orvis Cushman and Wakefield, said.
For more information on the new company visit www.orviscw.com