How to Take Advantage of the Soaring Luxury Market

01 Aug 2015

The real estate market in Florida is very strong, the bursting of the 2007 housing bubble all but forgotten. The luxury market presents an equally sunny picture. Realtors raring to sell luxury homes could not have chosen a better time; business in this niche of this industry is, in a word, booming. What follows is how to take advantage of the soaring luxury market in the Sunshine State.

The Opportunity Presented

The attentive realtor is presented with a unique opportunity to position him or herself as an expert in luxury homes. The key is to focus on the local level. This is important for several reasons, including the fact that luxury buyers are in short supply. A National Association of Realtors (NAR) study reported that only nine percent of all the homes bought in the U.S. were priced $500,000 and above. That statistic, for the record, includes both repeat and first-time buyers.

A Caution

To seize this chance, realtors should know that their prospective clients are far more informed than in previous decades, thanks to the Internet. Everything from market trends and news concerning the locale in question can be accessed within seconds via PC, laptop, tablet or smartphone. Buyers are more than likely to be very well educated, and should be handled with this assumption in mind. Visit Marina Title’s Realtors page, for more information.

Naturally, those buyers who are prepared to put down $1 million or more to acquire a property will have very particularized tastes and concerns. Because a luxury buyer is spending a much larger sum of money than others would, he or she will in all probability a greater number of more complicated questions ready. Whether the property is beachfront, cliff-side or anything in between, realtors need to be well-prepared to answer buyer questions, no matter how specific.


Generational Differences

Bearing in mind the issues raised above, another factor to prepare for is the rise of the young luxury buyer. Younger individuals often have needs and desires that differ drastically from those of previous generations including, for example, the Baby Boomers. Such individuals may wish to transform what was once a dining room into a media or game room. Realtors may well want to adapt certain aspects of the space to encourage this type of buyer to see the very attractive possibilities lurking just beneath the surface.


The Keywords

Above all, modern luxury homebuyers want only the most well-connected, educated and highly seasoned realtor on their side. You must demonstrate, off- and online, your networking proficiency and the elite quality of the service you provide. Make full use of every resource at your disposal to build your agency’s “brand,” including marketing materials, a website and more.

In addition to the points listed above, the luxury market realtor could greatly benefit from the expert services Marina Title offers, each of which is efficiently tailored to exacting client specifications. If you have any questions regarding the luxury real estate market in Florida, or any subject relating to the sale of property in the Sunshine State, contact us by email at, or by phone at (305) 901-5628.

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