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(Updated May 2017)

Due to the limited quantity of luxury properties and prospective buyers, the listing and sale of luxury real estate may present some challenges. However, with the right marketing mix and a little creativity you can connect your luxury listings with qualified and interested buyers—perhaps a multimillion dollar home could be converted into a winery, convention retreat center, or hotel, or maybe connecting with the international community will help increase the pool of prospective buyers. This updated Field Guide explores trends and performance of the luxury market, and offers tips and techniques for success. (A. Siudzinski, Senior Library Information Specialist)


E - EBSCO articles available for NAR members only. Password can be found on the EBSCO Access Information page.


Facts About Affluent Homebuyers

  • Percent of first-time and repeat buyers with household incomes of $200,000 or more: 8%
  • Percent of first-time and repeat buyers who bought homes priced $500,000 and more: 10%
  • Percent of first-time and repeat buyers who bought homes 3,501 sq ft or more: 9%

Source: The 2016 Profile of Home Buyers and Sellers


The Luxury Property Market

On Gatsby’s North Shore, Chinese luxury home buyers pause as curbs bite, (Business Insider, May 9, 2017).

The new hotspots for luxury real estate around the world, (realtor.com®, May 8, 2017).

In Sioux Falls, million-dollar homes on the prairie, (realtor.com®, May 5, 2017).

Trump administration officials drive D.C.’s luxury market, (Builder, May 1, 2017).

Luxury housing marks the latest trend in stadium amenities around the country, (The Spokesman-Review, Apr. 29, 2017). 

Luxury home listings are lingering for longer, (Realty Biz, Apr. 17, 2017).

The fever in New York’s luxury property market is cooling, (Financial Times, Aug. 26, 2016).

In Some Markets, Luxury Property Sales Stall, (Forbes, Aug. 4, 2016).

Is the Luxury Housing Market in a Slump?, (Redfin Blog, May 3, 2016).

Red-Hot Property Markets Cool as Rich Investors Retrench, (The Wall Street Journal, Jan. 20, 2016).

#luxuryhomes
#luxuryrealestate
#realestate #luxury

@luxuryhomemag
@jackcotton

http://www.luxuryrealestate.com/professionals/search


Marketing t​o the Millionaire: Profile, Preferences, and More

Creative marketing for luxury condos, (The New York Times, Apr. 28, 2017).

Tips for selling a luxury home | How to sell luxury real estate, (Max Real Estate Exposure, Jan. 9, 2017).

As markets waver, the rich park money in luxury homes, (The New York Times, Nov. 12, 2016).

5 social media tips for marketing luxury real estate, (XStatic Media Group, Oct. 31, 2016).

Use technology to attract high end buyers, (Realty Times, Sept. 1, 2016).

How to market luxury homes, (Great Pacific Escrow, Sept. 2, 2016).

Who are the new buyers of luxury real estate?, (Luxury Defined/Christie’s, Aug. 23, 2016).

How to Market a Luxury Home: 7 Must-Follow Tips From Top Real Estate Agents, (Top Agent Network Blog, Apr. 15, 2016).


eBooks & O​ther Resources 

eBooks.r​ealtor.org

The following eBooks and digital audiobooks are available to NAR members:

12 Secret Luxury Home Buyers Know, (Kindle, Overdrive Audiobook, Adobe eReader)

The Luxury Strategy, (Kindle, Overdrive Audiobook, Adobe eReader)

Luxury Brand Management, (Overdrive Audiobook, Adobe eReader)

Selling Luxury, (Kindle, Overdrive Audiobook, Adobe eReader)

Selling Luxury Homes, (Kindle, Overdrive Audiobook, Adobe eReader)

Books, Videos, Research Reports & More

The resources below are available for loan through Information Services. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Services at 800-874-6500 for assistance.

12 Secrets Luxury Home Buyers Know That You Can Use Today, (Osterville, MA: Jack Cotton, 2011).

Selling Luxury Homes: Become the Preferred Real Estate and Trusted Advisor to High-end Clients in Your Market, (Windsor, CT: Tide-Mark Press, 2010).

The World of Luxury Real Estate, (CreateSpace, 2007).

Rich Buyer, Rich Seller: The Real Estate Agents Guide to Marketing Luxury Homes, (Institute for Luxury Home Marketing, 2003).

Trading Up: The New American Luxury, (New York, NY: Portfolio, 2003).

Field Guides & More

These field guides and other resources in the Virtual Library may also be of interest:

Field Guide to Preparing & Staging a Home for Sale

Field Guide to Vacation, Resort and Second Homes

Information Services Blog


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The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.