At most recent count, the global population of high net worth individuals was estimated at about 15 million people. To be defined as a high net worth individual, one must possess investible assets of at least $1 million, excluding personal assets, such as a primary residence, collectibles and consumer items.
The United States is home to the highest number of affluent citizens in the world, at over 5 million people. The highest population of affluent individuals in the U.S. reside in New York City and the State of California. Affluent residents can be found throughout the country, in both rural and urban locations.
A study by Wealth-X and Sotheby’s shows that high net worth individuals are very active in the real estate market, with 79% owning at least two properties.
How can you attract affluent clients to your real estate business? Stephan Shapiro shared these 4 tips with REALTOR® Magazine:
Networking. Find people who work with the clients you want to serve. Seek introductions. Build relationships at every opportunity. Expand your sphere of influence.
Online Presence. A strong website targeted to the luxury market is a must, as is a stellar online reputation. Website content should be unique and provide a strong SEO value.
Display knowledge and trustworthiness. Be prepared to prove your expertise. Always keep your client’s business confidential; affluent clients prize their privacy.
Develop a powerful personal brand. Your brand and your marketing should speak to your intelligence, efficiency, service, discretion and integrity.
Here’s another tip: affluent clients can be as easygoing or as difficult as the clients you’ve already served! Do not over-think your approach to the high net worth client. Be well-prepared for your real estate discussion, but don’t try a sales pitch – they’ve heard them all! Instead, ask them questions. Find out what their needs are, and what emotions they have in their real estate situation. Explain what you can do to help. Give them a plan.
You do not need to spend a fortune to attract luxury clients. Luxury real estate marketing services are affordable with RealSupport! We can help you with website updating, brand development, listing marketing, listing presentations and much more! Call Carrie today for your personal consultation, 847-705-1655!
Copywriter & Marketing Specialst