After decades of land developers creating gated Country Club communities, a new phenomenon turned the Country Club world upside down. In the 1970s and ‘80s, when these communities were created, no one could foresee a future when living in a highly amenitized community could be detrimental to the value of your home. Fast-forward the post–economic downturn to find a similar scenario facing Clubs across the country:
- Consumers are much more sensitive to the carrying costs of real estate assets
- Club amenities are dated or not up to the high standards of the emerging market
- Realtors are selling houses, avoiding the costly extras of Country Club communities
- The gates are locked, keeping potential homebuyers away
- Baby Boomers have replaced the Silent Generation, playing less golf, focusing on health and fitness, seeking fewer rules and more diverse experiences
- Home values are depressed as aging members unload their assets late in life
- The homes are outdated, requiring major renovations homebuyers are reluctant to make
- The Developer is long gone and no one is promoting the value of the Club lifestyle
All of these adjustments in County Club fundamentals are having a major impact on these Clubs’ view of the future. Long-term solutions must be enacted to fund new marketing programs and to ensure the future financial viability of Country Clubs. The difficult task of pivoting the focus to the needs of the emerging market must be balanced with the needs of the existing membership. The Clubs must take control of their destiny by completely auditing their membership documents, amenity plans, product design, renovation programs, marketing strategies and real estate sales operations.
Since its inception in 1983, Cotton & Company has established itself as a leader in the advertising and sales of luxury real estate, including Country Club communities. In the firm’s 40 years, they’ve encouraged the real estate success of their clients worldwide. By engineering digital strategies with creative insight and unmatched industry expertise, they’ve been able to drive the sales results of some of the biggest names in luxury real estate. Request a complimentary copy of Solutions magazine here and see how they’ve been empowering the sales success of more than 1,700 properties.