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Eat ... drink ... buy

David Joles, Star Tribune

Edina Realty held a cocktail party/open house at this $2.9 million home in Edina. Such gatherings target upscale clients and high-end homes with wine tastings, appetizers and demonstrations.

In a competitive market, sales agents are throwing parties to draw attention to their high-buck listings.

Last update: August 22, 2008 - 10:43 AM

On a recent Wednesday night in Edina, about 130 people nibbled on bruschetta and sipped pinot grigio while they milled around a kitchen island laden with appetizers.

This wasn't just another summertime cocktail party: It was an open house at a Nantucket-style 7,000-square-foot house in Edina's Rolling Green neighborhood that's on the market for $2.9 million.

Attendees "could see what the home offers beyond the MLS sheet and website photos," said Marian Peterson of Edina Realty, whose sales team holds about seven such events a year at their high-end properties. This party cost more than $1,000.

With the number of upper-bracket listings bursting, open house parties are becoming an increasingly popular marketing strategy. Agents who host the gatherings, which vary from simple wine-and-cheese affairs to elaborate garden parties, hope that by inviting influential business associates, neighbors and other agents, they'll create "buzz" that will attract more attention to the house.

"You just never know who's tagging along," said Trent Tosseth, who was chatting with friends about the "stunning space" at the Edina house party. He was a friend of the home's designer, Beverly Markis, who built it on spec through her design-build company, TBD3.

The concept isn't new, said Steve Havig, owner of Lakes Area Realty and president-elect of the Minneapolis Area Association of Realtors. "It's an emerging trend for real estate -- primarily upper-bracket homes."

Invitations on the rise

Real estate soirees -- brunches, cocktail parties and progressive dinners -- that showcase luxury properties are hot nationwide, said Laurie Moore-Moore, founder of the Institute for Luxury Home Marketing in Dallas. "It gives you the ability to target prospective buyers and highlight the lifestyle the home represents," she said.

Local sales agents only have to open their mail to spot the trend.

"I've gotten three invitations in the last two weeks," said Bob Ritter, a Wayzata Remax agent, who has thrown parties at some of his Lake Minnetonka listings. Barb Jandric, general manager for Edina Realty, says she's received twice as many invitations as she did last year.

"Traditional methods such as open houses for Realtors and the public aren't enough anymore," she said.

The trend is being driven in part by sellers, who expect more creative marketing and have started inquiring about hosting parties to set their houses apart from others, said Constance Koopman, a Realtor for Relocation Team Worldwide in Burnsville. She works with executives moving to the Twin Cities and often holds wine-and-cheese parties that typically cost $200 to $400.

Strategies differ

The cost and style of the revelry vary as widely as the featured properties. A few weeks ago, sales agent Frank Roffers of SKY Sotheby's Realty in Edina threw a $2,000 catered garden party at actress Jessica Lange's $1.95 million Stillwater estate.

The hors d'oeuvres, including sushi, were from Crave, an upscale Galleria restaurant. The event wasn't open to the public, but still drew about 50 partygoers from an exclusive list that included top real estate agents and prominent Stillwater businesspeople.

Guests sipped wine, lingered in the Victorian home and explored the private gardens on the 2 1/2 acres that overlook the St. Croix River, said Roffers.

"It gave people a chance to see what it would feel like to live in this remarkable, beautifully restored pro-perty," he said.

In addition to drawing attention to the listings, the parties are a way to promote a particular lifestyle. For an upcoming event at a different home, for example, he plans to place new Jaguars and Range Rovers in the garage and grounds.

Last fall Havig and other agents hosted a group open house at five mansions priced at $1.5 million and up on Minneapolis' Mount Curve Avenue. The party was like a progressive neighborhood dinner, with several hundred guests scurrying from house to house, enjoying a different course at each property.

"Mount Curve looked like Halloween night for adults," Havig said.

Next month, he'll host a wine and appetizer party in a renovated $5 million 1906 Lowry Hill home with a guest list of 3,000 that includes well-heeled CEOs, neighbors and other agents. Open House signs will welcome anyone else who wants to take a peek.

Does the strategy work? Sales agents who have held events say it can be difficult to determine which marketing tactic led to a home's sale, but they agreed it's worth the time and expense.

"Advertising is tricky. You're not always sure where a buyer comes from," said Havig. Peterson, who is part of a sales team that includes Kris Campbell and Noelle Peterson Varecka, says that while the Edina party was a success because it attracted more than a hundred people at a time when it's difficult to attract prospective buyers, the house has yet to sell.

"Our team always has fun at these events," said Peterson. "And we've had five showings since then."

Lynn Underwood • 612-673-7619

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