Oct 29, 2010

Val Kilmer’s Santa Fe Ranch was originally listed for $33 million by Orvis & Cushman & Wakefield but did not sell. In July 2010, Kilmer switched the listing to Darlene Streit of Santa Fe Realty partners and lowered the price to $28 million. Darlene has now just dropped the price to $23 million and posted the listing to Craigslist where its getting good results.

By placing the listing on Craigslist, Santa Fe Realty Partners is employing a strategy of “online saturation marketing.” Rather than just uploading listings to the MLS and calling it a day, Santa Fe Realty Partners uploads their listings to hundreds of online destinations, ensuring the greatest online visibility.

“We get good results from Craigslist,” says Streit. “We do it as part of our comprehensive real estate marketing program, part of our presence to be in 400 places on the Internet.”

As the internet becomes more open and interconnected there is a trend to aggregate online real estate listings to as many places as possible. It makes sense too, the more places a listing appears the more people will see it.

Stigmas associated with listing expensive properties on free sites like Craigslist are now being overturned by brokerages such as Santa Fe Realty Properties with their $23 million celebrity listings.

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