When potential clients ask why they should choose Trump International Realty —the luxury residential real estate firm Donald Trump launched last month — senior vice president and managing director Kevin Sneddon has a line ready.
"If you get off a plane, in any corner of the world, and ask the people there if they know Trump, they will say yes," Sneddon said.
Despite owning commercial and residential buildings around the world, this is the Trump Organization's first foray into the world of real estate sales outside its own properties.
Sneddon said the company felt that it was the right time to expand because of the power of the Trump brand abroad and an influx of foreign buyers in New York City,
"It's not much of a stretch to see how we think we could do something at a higher level on a real estate brokerage arena," he said.
The firm launched with around 20 agents, and has properties primarily in New York City. They plan to expand, but so far there's no set time frame. It's about "quality, not quantity," Sneddon said.
One thing's for sure — Trump is targeting high rollers.
Sneddon said that the average Trump International Realty listing is on the market for $3 million. In comparison, the average sale price in New York City is about $1.4 million, he said.
And while the company hasn't made any sales yet — it opened its doors the last week of October — it does have a $75 million trophy listing in New York City.
"We want to be a real estate brokerage firm known for handling complex and sophisticated deals," Sneddon said. "We pride ourselves in our resources. The Trump brand expertise gives us a serious competitive advantage that helps us deliver on that next level. The Trump brand gives us a global reach."
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