In a sense, there have always been three different types of real estate: residential, commercial, and luxury. The key to marketing any property depends upon knowing your audience. What do you do when your audience is changing though? To be successful, you must adapt your strategy. Luxury Real Estate is constantly changing their strategy to support these issues.
Luxury Real Estate Buyers from 2008 to Today
Over the last few years even those deemed “wealthy” have been holding tight to their savings and being more mindful of their purchases, partly due to a lack of confidence in the real estate market and overall national economy.
Throughout 2012, we have seen these wealthy individuals – some of which are investors themselves – regain some confidence and start making large purchases that were essentially absent over the last few years. Of course these purchases include real estate.
Luxury Real Estate Buyers in 2013
With luxury real estate buyers gaining confidence in the market, you can expect to see an increase in luxury real estate purchases throughout 2013, especially since many people believe that home prices are slated to continually rise. This states that the homes they purchase now will be worth more in the future – making real estate generally a “safer” investment.
Luxury Real Estate Investors and Realtors
When selling luxury real estate, transactions take long er and fewer properties are sold; however, your fees (and the amount of money you take home) will be significant higher.
Therefore, if you want to make it big in the real estate business, then you may want to look into selling luxury real estate throughout 2013. Although it can be more time consuming, and possibly more frustrating, the rewards are well worth the effort if everything goes according to plan at the closing table.
With multiple wealthy individuals opting to purchase real estate with the expectation that they can later sell the home once the real estate market is back to “normal” and make a profit, the likelihood of a growth in 2013 is very high.
