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

NAR Library & Archives has 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: 13%
  • Percent of first-time and repeat buyers who bought homes 3,501 sq ft or more: 9%

Source: The 2018 Profile of Home Buyers and Sellers

The Luxury Property Market

Chicago-area Luxury Home Market Continues Slide in Q2 (The Real Deal, Jul. 25, 2019)

A Fed Rate Cut Could be Good News for Some Luxury Housing Market Sectors (Mansion Global, Jul. 19, 2019)

These Cities Have the Most Billionaires – and the Highest Luxury Home Prices (Barron’s, Jul. 10, 2019)

NYC Has a Penthouse Problem, LA Has a Mansion Problem, and Miami Has a Condo Problem (Business Insider, Jul. 7, 2019)

Luxury Home Sales See Biggest Slump in Nearly a Decade (CNBC, May 1, 2019)

These Markets are Hotbeds for Luxury Real Estate (Housingwire, Feb. 13, 2019)

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

An LA Broker Who Has Sold Over $4.5 Billion of Luxury Real Estate Says the Ultra-Wealthy Buy and Sell Their Homes by Word of Mouth- and Reveals the 3 Reasons Why (Business Insider, Jul. 28, 2019)

Young Buyers Redefining Luxury (REALTOR® Magazine, Jul. 11, 2019)

Become A Real Estate Agent for the Ultra Rich (Investopedia, Jun. 25, 2019)

13 Luxury Real-Estate Agents Reveal What It’s Really Like Working with Millionaire and Billionaire Clients (Business Insider, May 28, 2019)

Who Are the Buyers Driving Luxury Property Sales? (Christie’s International Real Estate, May 22, 2018)

Where to Start When breaking Into the Luxury Market (REALTOR® Magazine, Mar. 28, 2019)

Two Things to Keep in Mind When Buying a Luxury Home (Houston Business Journal, Feb. 21, 2019)

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

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 NAR Library & Archives. 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 the library at 800-874-6500 for assistance.

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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The inclusion of links on this page 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 page 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.

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