Understanding the Mind of a Luxury Buyer

shutterstock_114018187For generations, we have seen people climb slowly to the top of the success ladder with sweat and tears, sometimes lining their pockets with cash as they go. Today, we see a shift of the high-income earners, who increasingly span a wider range of countries and ages. These individuals are self-starters and want lovely luxury items as the cherry on their success. The Luxury Portfolio, a summation of studies done by Dr. Jim Taylor and Chandler Mount of YouGov, states that affluent buyers have increased their spending from 2013 to 2014 by 12% on their primary residence, meaning this is a growing niche market to learn about. Let’s take a deeper look into the mind of the luxury buyer.

Sought-after home features

According to real estate news site inman.com, the features wanted in a luxury home are often seen as similar, despite the widespread origins of wealthy buyers. Location is important, with buyers seeking out high-end areas with retail and restaurants to match their luxurious style. The details of the home are also important, with buyers searching for things like custom walk-in closets, saunas, infinity pools, home theaters, and updated chef kitchens. These buyers know what they want and they intend to get it in their purchase. The same Luxury Portfolio also states that these buyers cut out the “flowery language” in their search and stay focused on their desired amenities.

A new generation

Interestingly enough, we are now seeing luxury real estate buyers at a younger age. These are the people who grew up with smart technology at their fingertips. They are well versed in the internet and higher end technologies, not only because they can afford it, but also because it’s what they’ve always known. As you find yourself interacting with the luxury buyer, be prepared to use mobile apps, interactive websites, videos, professional photography, and social media as your main tools.

Having the right Realtor is important

These high-end buyers are looking for a real estate agent to accompany them on the journey of their home purchase. Reputation and respect within the community go a long way for the real estate agent wanting to win over the luxury buyer. The Luxury Portfolio goes on to say that 87% of these buyers expect a real estate agent to protect them from risk during their transaction. When asked what makes an agent the most valuable, these affluent buyers had various answers, such as assisting to make the buying process enjoyable, showing interest in understanding the luxurious lifestyle, and being well equipped with knowledge and wise counsel throughout the process.

Understanding this growing group of prosperous buyers is valuable knowledge in today’s market. With some insight into lifestyle, technology, and locations, a rewarding transaction could be well within reach.


Sources: inman.com, Luxury Portfolio on media.mcguire.com, myfirstclasslife.com

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5 Things Entrepreneurs Can Learn from Rio’s Preparation for the Olympics

The summer Olympics will commence this week in Rio de Janeiro, but the road to the opening ceremony has not been an easy one, with multiple problems plaguing both the city as well as the country of Brazil. What lessons can entrepreneurs learn from Rio’s preparation for the Olympics?

Some events are beyond our control. When Brazil was awarded the opportunity to host the 2016 summer Olympics in 2009, their economy was flush and their property values were some of the highest in the world. After seven years of political, financial, and pandemic health disasters, scores of hotels and high rises that were built in anticipation of a surging economy now stand empty. Like the U.S. housing bust of 2008, Rio is a reminder to business professionals that unforeseen events can sometimes change the market drastically.

Stay on top of economic trends

Officials in Brazil may not have been able to predict all of the country’s financial downturns, but a successful entrepreneur needs to stay on top of the market’s economic trends.

Don’t take shortcuts

Due to poor workmanship and inadequate inspections, Rio’s Olympic Village has been plagued with faulty wiring and bad plumbing, making it almost unlivable for the world’s athletes. When it comes to managing your own business, taking shortcuts is almost never a good idea. Although taking shortcuts or only covering the bare minimum may save time and money, it could also ultimately deliver negative results and the potential loss of a client.

Don’t make promises you can’t keep

From rising crime, polluted water, and lack of transportation, it seems that everything that could go wrong before the Olympics has done so. Although many of the problems are reported to have been resolved, some solutions appear to be makeshift at best. Like Rio, where Olympic ticket sales are at an all-time low, for an entrepreneur, reputation is everything: More broken promises means less sales.

Marketing matters

Whether an entrepreneur is up-selling the benefits and features of their products or services on social media or attending networking events, without positive visibility, they would have no business. In the same way, Brazil officials have been attempting to counter recent bad publicity and low ticket sales with positive press releases about how low the risk of contracting the Zika virus while visiting Rio actually is, and the successful completion of the city’s transportation system. Whether or not this strategy will work to increase attendance at the 2016 summer Olympics remains to be seen.

Sources: New York Times, Wall Street Journal, Placester, Insider Louisville, Linkedin

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August 2016 Marketing Minute

Print delivers the biggest bang for your buck

According to a new study presented by Nielsen Catalina Solutions at the Advertising Research Foundation Audience Measurement 2016 Conference, magazines deliver the best return on ad spending. That’s right, print magazines outranked TV, digital display and video, as well as mobile and cross-media campaigns.

Read the full report

Advertise in a quality magazine. Homes & Land recognizes the utmost importance of advertising in magazines, so we have become the leader in integrated real estate marketing, publishing more than 27 million magazines annually. These magazines are distributed at high-traffic locations and direct-mailed to targeted homebuyers and sellers.

Learn more

Contact your Homes & Land Publisher to take advantage of our unique advertising opportunities.

Catch ‘em all! How Pokémon Go is a selling point for Realtors®

You may have noticed this recent cultural phenomenon sweeping across our communities, with PokéStops and Pokémon Gyms popping up everywhere so users can “catch ‘em all!” Believe it or not, this viral app is even making an impact on real estate, and can possibly even be used as a selling point for real estate agents.

Read more

Be inspired and stay inspired!

We’ve all had “those days” when nothing seems to go as planned, but never lose hope! You can bounce back and stay inspired with these 5 tips.

Read the article

Are your email subject lines getting noticed?

Without question, the most difficult hurdle that businesses face in email marketing is to create subject lines that will get emails opened. If a prospect doesn’t open your email, then how will they know what you have to say? Luckily, there are steps you can take as a business professional to stand out in a sea of emails.

According to a recent post on the well-established marketing blog Hubspot, your recipients will react strongly to the following:

■ Social proof

■ Unanswered questions

■ Disrupted patterns

■ Self-interest

■ Requests for help

Read the full post


Kevin O’Leary discusses 3 ways you can immediately be a better salesperson

Google AdWords features you didn’t know existed

Lisa Fata of Coldwell Banker on how she finds real estate rewarding and reveals the key to her success

“I believe success is achieved by ordinary people with extraordinary determination.”



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July 2016 Marketing Minute

You have luxury covered

If you do business in the luxury market, count Homes & Land as your not-so-secret weapon. We give you a competitive edge.

With Homes & Land, you can offer an unbeatable marketing package for luxury homes that combines the prestige of print with the power of premium online display.

Homeowners like hearing that their luxury listing will appear on the top websites catering to well-heeled buyers here and abroad.

To tour the sites, click on the links below. Qualified* Homes & Land listings go to:

And luxury loves print. “Magazines rank as the No. 1 platform for advertisers to engage with affluent consumers,” according to the Shullman Research Center.

Contact your Homes & Land Publisher to learn more about our luxury program and direct mail distribution to qualified potential buyers.

An interest rate reality check

As the Fed moves to raise interest rates this year, here’s a question from Bernice Ross of realestatecoach.com to test your knowledge of how rates work in real life: “Your first time buyers are purchasing a home and will be obtaining a $200,000 mortgage. If interest rates increase from 4 to 5 percent over the next year, how much more would your first-time buyers pay in additional interest over the life of a 30-year fixed rate loan?” About $11,000, or maybe around $20K? Nope. One interest point added to that loan’s rate adds $42,772 to the cost of paying off it off over term.

One minute to improved fitness

This sounds too good to be true, but research says it isn’t: Exercising a minute a day can be enough to get you into better shape. That minute must be an all-out, intense effort, but the magic number appears to be one.

Read more

Take a break!

Well-known real estate coach Brian Buffini says your brain needs a break, and scheduling breaks is an important to getting the most from your workday. We’re simply not wired to concentrate in hours-long stretches. Try instead to work in focused blocks, taking a few minutes away from the task at hand every 60 to 90 minutes.

Read Brian Buffini’s productivity “hacks”

“ADVICE TO REALTORS: You cannot afford to NOT advertise in H&L. The added exposure your listing will receive might be the difference between an expired listing or a sale. ADVICE TO SELLERS: Realtors who advertise in Homes & Land are differentiated and probably have the ability to market your property properly. When interviewing Realtors ask to see a copy of their marketing plan. Commission is substantial, so it is essential to know what the Realtor will do for you.




Send an email that gets answered: 23 alternatives to “just checking in”

Even savvy communicators sometimes make these body language mistakes

Cara Ameer of Coldwell Banker speaks frankly to homeowners about the factors that can keep a home from selling

Getting enough sleep is so crucial to performance that you might consider setting an alarm for bedtime

“Try to be a rainbow in someone’s cloud.”



* Properties must meet price thresholds to be listed on premium websites. Those thresholds are determined by each website. Listings priced at $500K or more appear on Europe.WSJ.com, Asia.WSJ.com and India.WSJ.com; listings priced at $1 million or more appear on all of the above, plus Mansion Global’s English, Chinese and Spanish websites.


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June 2016 Marketing Minute

You’re making home sellers smile

As a real estate agent, you can understand your home sellers’ mindset. They’ve entrusted you with their most valuable asset, and now they’re waiting for something good to happen. And maybe they’re wondering, “Is my agent doing enough?” Homes & Land helps answer that question — “Yes.” When you advertise a property with Homes & Land, our Client Contact Program mails your sellers the magazine showing their home. It arrives in a poly bag with a cheerful yellow note.


“Our sellers love it. They love
to see their pictures in the magazine, they love the glossy print, and they especially love the at-home direct mail. When it goes out to the public and they receive their own copy of it, they’re excited about it.


The mailed magazine also comes with a “Powerhouse Marketing” flyer showing homeowners that the magazine is only one part of a larger marketing campaign that includes direct mail to potential buyers, extensive online exposure for listings on 20+ websites, social sharing and a Virtual Tour.

For more on the many benefits you and clients get when you advertise, click here

Lucky numbers for home prices

Realty team leader Robert McTague finds that while using nines might have been a good pricing strategy decades ago, the practice now may hurt a property’s odds of being found during an online search. His research shows, however, that there appear to be benefits to using prices featuring the numbers four or seven.

Read the article

What’s the secret to success?

Superstar agent Judie Crockett of Howard Hanna Real Estate recently told real estate sales coach Verl Workman that she will gladly share her listing presentation and pre- listing checklist with other agents for one simple reason: “I am happy to share everything because I have learned that people will copy everything except my hard work.” As Verl explains in RISMedia’s Real Estate magazine, what separates great agents from average agents “is not special knowledge or some secret sauce; it’s hard work and determination.”

Read the article

Improve your LinkedIn IQ

Marketing outfit Hubspot rounds up 22 LinkedIn “sins” and offers tips on how to avoid committing them in a recent post. Agents are well aware of the value of a good professional photo (covered in sins Nos. 1 and 2), but the rest of the list covers some less-known LinkedIn don’ts. Also on the topic of LinkedIn, an easy-to-scan infographic shares pointers on how to optimize your profile for “social selling.”

Read the “sin” blog

Find the infographic


How a man with $44,000 in income per month, no debt and a near-perfect credit score came to be denied a mortgage loan

Robb Report Home & Style’s Ultimate Home 2016 is a 14,000-square-foot “English manor house with contemporary appeal” and an 11-car underground garage

Make your workday more productive one small step at the time

“If you don’t like how things are, change it! You’re not a tree.”


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