Field Guide to Listing & Selling Luxury Properties
(Updated August 2014)
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. (K. Stockert, Information & Web Content Specialist)
Q - ProQuest articles available for NAR members only. Password can be found on the ProQuest/Find Articles 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: 9%
- Percent of first-time and repeat buyers who bought homes 3,501 sq ft or more: 10%
The Luxury Property Market
Listing Luxury, (REALTOR® Magazine, Nov. 2014).
Pricing Luxury Real Estate Is An Art And Science, (CNBC, Sept. 23, 2014).
Luxury Homes: Priced to Sell at $30 Million, (Wall Street Journal, Sept. 10, 2014).
Luxury senior housing and assisted living communities on the rise, (Fresno Bee, Sept. 22, 2014).
Tips for Buying Luxury Real Estate, (Investopedia, Sept. 2, 2014).
Chinese Move into Luxury Manhattan Property, (BBC, Aug. 25, 2014).
Most Orlando Luxury Estate Buyers Come with Cash in Hand, (Orlando Sentinel, Aug. 19, 2014).
The Trouble with Living Large, (The Wall Street Journal, Aug. 14, 2014).
America’s Most Expensive Homes for Sale Right Now, (Forbes, Aug. 4, 2014).
Foreign Buyers Fuel Concerns amid Miami Luxury Condo Boom, (Reuters, July 28, 2014).
All Eyes Are on Texas as Home Prices Set Records, Luxury Market Rises, (PRWeb, July 27, 2014).
S.F. Luxury Home Sales Soar, (SF Gate, July 7, 2014).
Why the Luxury Real Estate Market Remains Hot, (Michigan Avenue, June 27, 2014).
Selling an Upscale Home? You’re in Luck. Sales Remain Strong. (Money, June 16, 2014).
Local Markets Dictate Price, Features of Luxury Housing, (Los Angeles Times, June 12, 2014).
Sky-High Demand for Luxury, (New York Times, June 1, 2014).
Luxury Sales Heat Up Across the Country, (REALTOR® Magazine, May 28, 2014).
Living Large: The Market for Super Luxury Homes, (CBS News, May 18, 2014).
‘Unequal’ Recovery: Luxury-home Sales Thrive in US, (Arab News, May 4, 2014).
Realtor.com® Survey: 13% of Consumers Ready to Buy a Luxury Home, (Realtor.com, April 24, 2014).
Affluent Driving Force Behind Resurgence of Pricey Real Estate, (Toldedo Blade, Feb. 2, 2014).
Luxury Sales Drive Manhattan Home Prices Higher, (CNNMoney, Jan. 2014).
Market for Luxury Homes Selling for Around $1.5 Million is Heating Up, (Washington Post, Jan. 23, 2014).
Million Dollar Listing, (Bravo, n.d.).
Flip that Mansion: Investors See Riches in Luxury Homes, (Reuters, Aug. 2013).
Interluxe Announces Launch of Global Online Luxury Real Estate Auction Platform, (PRWeb, May 2013).
Marketing to the Millionaire: Profile, Preferences, and More
Lavish Clubhouses Woo Luxury Home Buyers, (Wall Street Journal, July 31, 2014).
Luxury Homeowners Snub the Open House, (The Wall Street Journal, June 19, 2014).
Portrait of an Affluent Consumer, (Houston Chronicle, June 24, 2014).
Here’s What Wealthy People Want in Their Luxury Homes, (Business Insider, June 19, 2014).
Living in Luxury Air Parks, (Wall Street Journal, June 5, 2014)
For the Very Rich, U.S. Luxury Homes are a Bargain, (Investors Business Daily, May 21, 2014).
Luxury Residential Real Estate Update: ‘Forget it Jake, It’s Chinatown, (Forbes, May 20, 2014).
Bay Area REALTORS Now Using Drones to Market High End Properties, (CBS Bay Area, Feb. 4, 2014).
10 Things Besides Location Luxury Buyers Should Obsess Over, (Forbes, Oct. 23, 2013).
Five Simple Home Luxuries for Less, (The Seattle Times, Sept. 20, 2013).
Three Essentials to Selling a Million-Dollar Listing, (Inman, Aug. 31, 2012).
Luxury real estate execs share insights on unique clientele, (Inman News, Jan. 18, 2012).
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
The Luxury Strategy, (Adobe eReader)
Luxury Brand Management, (Adobe eReader)
Selling Luxury, (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.
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).
Field Guides & More
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