Field Guide to Listing & Selling Luxury Properties
(Updated October 2008)
War, housing bubbles, layoffs, rising mortgage rates... In today’s uncertain economy, what does the future hold for high-end home sales? Will the affluent be forced to scale down or are they cushioned from hard times? What role will the boomers play in the million dollar market? This Field Guide explores the coming trends and past performance of the luxury market, and offers tips and techniques for success in this affluent niche. (V. Broady, Information Specialist)
Facts About Affluent Homebuyers
Percent of 1st-time buyers with household incomes of $200,000 and more: 2%
Percent of repeat buyers with household incomes of $200,000 and more: 8%
Percent of 1st-time buyers who bought homes priced $500,000 and more: 5%
Percent of repeat buyers who bought homes priced $500,000 and more: 14%
Source: 2007 NAR Profile of Home Buyers & Sellers
The Luxury Property Market 
Mega-Mansions to start selling again? Most expensive properties in the U.S, (Luxury Property Blog, May 27, 2008).
Cheap Chic, (Barron's, May 26, 2008).Q
Great expectations dominate top of luxury home market, (LuxuryHomeMarketing.com, Apr. 4, 2008).
Luxury Market Keeps Moving Strong, (REALTOR® Magazine, Mar. 10, 2008).
Luxury Condo Developers: Put to the Test, (National Real Estate Investor, Jan. 2008). Q
What Housing Crisis? Why the mortgage mess hasn't hit the luxury market, yet, (Newsweek, Jan. 30, 2008)
A Bitter Aftertaste, (Barron's, Dec. 10, 2007). Q
Luxury Home Trends for 2007, (RealtyTimes, June 15, 2007).
The Luxury Homes Topping the Market, (REALTOR® Magazine, May 24, 2007).
Marketing to the Millionaire
How High-End Brokers Market Luxury Homes, (The Wall Street Journal, n.d.).
How to Brand Yourself as a Luxury/ Resort Real Estate Broker, (National Association of REALTORS®, n.d.).
Niche Marketing, (Lore Magazine, Sept./Oct. 2008).
Understand Your Target Audience - Top In-Culture Marketing Tips, (RISMedia, Sept. 25, 2008).
Buying and Selling within the Affluent Market Segment - Has It Changed in Today’s Economy?, (RISMedia, Sept. 24, 2008).
Marketing to the mass affluent, Part 2, (Contractor, June 2008). Q
Attract The Mega-Affluent In Bunches, (National Underwriter. Life & Health, Sept. 3, 2007). Q
The Affluent Buyer: Profile & Preferences
What Do Wealthy Home Buyers Want From Their Real Estate Agent?, (iRentToOwn.com, Dec. 4, 2007).
How the Super-Rich Buy Homes, (Business Week, Apr. 11, 2008).
Emerging Markets, (Unique Homes, Feb./Mar. 2008).
Finishing Touches, (Unique Homes, Dec. 2007).
Realty Viewpoint: Wealthy Take Advantage Of Homebuying Opportunities, (RealtyTimes, Apr. 17, 2008).
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Advanced Selling Strategies: The Proven System of Sales Ideas, Methods, and Techniques Used by Top Salespeople Everywhere (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. 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 Central at 800.874.6500 for assistance.
Trading Up: The New American Luxury, (Portfolio, 2003).
Americans and Their Homes, (New Strategist Publications, 1998).
Mega-Million Dollar Secrets: Twelve Mega Producers Show You How to Go Straight to the Top, (Dave Beson, n.d.).
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Vacation Homes
Field Guide to Selling New Homes
Field Guide to Preparing & Staging a Home for Sale
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
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 to 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.
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