DR Listings was formed in 2005 as a real estate brokerage and development company.
After selling and building many properties, it was realized that most of the foreign or local investors were not using these properties as a permanent residence but, rather, for investment and vacation properties. When not using the property, the maintenance, expenses and costs were creating more of a burden for the owner as opposed to an investment. We had to rethink the business model and provide a vacation rental service for the new owners. Having minimal experience in the hospitality business, the beginnings were very challenging as the vacation rental client is very demanding, and the business is very service-oriented in order to provide a high-quality guest experience. With social media and review platforms controlling the industry, all the failures and achievements quickly become known to the public, spreading online within minutes to thousands of vacation shoppers and viewers.
With a proper team of staff, including sales, marketing, administration, maintenance and concierge-type personnel, we were able to bring a superior guest experience to our clients. This has created a repeat client base along with many referrals. Month after month, we continue to break sales/reservations records. Our investors are pleased and are not only enjoying their properties but also getting a return on their investment and a headache-free ownership experience.
In the beginning, it was very difficult to communicate with the owners about what was happening with their properties. This was overcome by implementing an online owners’ portal in which they can see, in real time, reservations, expenses, commissions, profit/loss statements and even block their own owner usage dates. Owner confidence was significantly increased, allowing us to have more control over the quality of the property for a great end-user/vacation rental experience.
The new business model is now generating more sales, and investors and buyers are increasing. We are able to show income statements to the new purchasers so they may feel confident in their investments.
An online presence, marketing and organization all play key roles in our recent success.