Overview

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.

Facts About Affluent Home Buyers

References

We've already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.


Facts About Affluent Homebuyers

  • Percent of first-time and repeat buyers with household incomes of $200,000 or more: 9%
  • Percent of first-time and repeat buyers who bought homes priced $500,000 and more: 11%
  • Percent of first-time and repeat buyers who bought homes 3,501 sq ft or more: 9%

Source: The 2017 Profile of Home Buyers and Sellers

The Luxury Property Market

Your State’s Most Common Luxury Amenities (REALTOR® Magazine Feb. 5, 2018)

Real Estate Market Is Hot, Except at the High End: Disruption Coming in the Luxury Home Market (Forbes, Apr. 17, 2018)

The World’s Hottest Property Markets (Forbes, Apr. 11, 2018)

Luxury Home Prices are Skyrocketing in Some Cities and Dropping Sharply in Others (Business Insider, May 13, 2018)

Five Emerging Markets for Luxury Real Estate in North America (Forbes, July 6, 2018)

Boom or Bust? What’s Going on with Luxury Home Prices? (Redfin Blog, Aug. 4, 2018)

$1M-Plus Sales Surge 25% This Year (REALTOR® Magazine, July 13, 2018)

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)

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

The art and science of selling luxury real estate (Philly Voice, Apr. 20, 2015)

#luxuryhomes
#luxuryrealestate
#realestate #luxury

@luxuryhomemag
@jackcotton

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

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

The 10 top emerging trends that will shape real estate in 2018 (Curbed, Oct. 26, 2017)

Why America’s Youngest Buyers Are Flocking to Luxury Real Estate (Observer, Feb. 20, 2018)

Modify Your Approach to Luxury Clients (REALTOR® Magazine, May 1, 2018)

Want to Sell Luxury? Know the Audience (REALTOR® Magazine, Feb. 9, 2018)

Who Are the Buyers Driving Luxury Property Sales? (Christies Real Estate Luxury Defined, May 22, 2018)

4 Keys to Successfully Marketing Luxury Homes (Inman, May 11, 2017)

Creative Marketing for Luxury Condos (New York Times, Apr. 28, 2017)

High-Income Millenials Use Their Buying Power on Luxury Homes (The Washington Post, Mar. 16, 2017)

Where in the World are the Super Wealthy Buying Homes? (Observer, Mar. 5, 2018)

What Rich Millenials Want in a Luxury Home: 20,000 Square Feet (Bloomberg, Jan. 30, 2018)

8 Luxury Designer Home Trends for 2018 (Who’s Who in Luxury Real Estate, July 24, 2018)

5 Luxury Real Estate Brands that Use Content Marketing to Sell Property (Fronetic Real Estate, Mar. 21, 2018)

Zen Design Takes Over Luxury Listings (REALTOR® Magazine, Apr. 24, 2018)

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

Do you have the 2 traits it takes to sell luxury real estate?, (Inman, Mar. 16, 2016)

Marketing to the Ultra Affluent: 5 Essential Tips, (Forbes, Mar. 30, 2015)

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, Audiobook, eBook)

12 Secret Luxury Home Sellers Know, (Kindle, Audiobook, eBook)

The Luxury Strategy, (Kindle, Audiobook, eBook)

Luxury Brand Management, (Audiobook, eBook)

Selling Luxury, (Kindle, Audiobook, eBook)

Selling Luxury Homes, (Kindle, Audiobook, eBook)

Books, Videos, Research Reports & More

The resources below are available for loan through Member Support. 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 Member Support at 800-874-6500 for assistance.

Realtor.com Luxury Home Index (Realtor.com, Aug. 2018)

12 Secrets Luxury Home Buyers Know that You can Use Today, (Osterville, MA: Jack Cotton, 2011)

12 Secrets Luxury Home Sellers 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)


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