The Institute’s monthly luxury market reports provide an overview of the data and trends in the luxury market across North America. Luxury real estate professionals can gain insightful analysis of sales prices, volumes, number of sales, sales-price-to-list ratios, days on the market, and price-per-square-foot properties in selected markets of the United States and Canada. It is, in effect, a detailed survey of luxury active and recently-sold properties that allows professionals to gain insights that can be shared with colleagues and information pertinent to clients.
The report is designed to provide you with a comprehensive overview of the luxury market, including both single-family and attached homes, based on a list of metrics relevant to this particular residential real estate market segment. Let’s dive deeper into how you can utilize these reports to elevate your career and establish yourself as a luxury expert in your market.
How to use luxury market reports
Each report’s active and sold data is compiled from varied resources, including local MLS Board reports, tax records from the various market areas, and information gleaned from REALTOR.com. All data and statistics in the reports are reliable and fact-checked to provide you with invaluable information to boost your credibility when speaking with potential clients, following up with leads, or networking with other professionals. Additionally, you can take a “big picture” approach to your marketing strategies by considering how nationwide and international trends affect your local markets and setting yourself apart from the competition.
Some common ways to utilize the information contained in the luxury market report include:
- Your listing presentations
- Mailers to current and potential clients
- Follow-up correspondence
- Social media posts
- Data-driven marketing strategies
In a recent episode of the Estate of Mind podcast, Institute GUILD™ Member Sherri Anne Green shares how she leveraged luxury market reports to create data-driven marketing content to increase her brand awareness. She stresses the importance of breaking down the chunky data into “bite-size,” creative content (such as video content for social media) for your target audience. She would include these creatives in her follow-up correspondence with potential leads to stand out from the competition. Check out the full episode to learn tips on sprucing up your marketing content and winning more luxury real estate listings.
Get more out of the luxury market reports
These monthly market reports are available to download for free on our website, and read the monthly blog that summarizes the report’s highlights. Get more out of these reports by obtaining a Membership with The Institute! Our expert trainers will guide you through how to maximize your skills, expand your sphere of influence, and increase your potential as a luxury real estate professional. As an Institute Member, you can access our exclusive online community of 6,000+ real estate professionals to share ideas, ask questions, and expand your knowledge.
Furthermore, you can increase your credibility as the go-to luxury expert in your market by earning the Certified Luxury Home Marketing Specialist™ (CLHMS) designation, which assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require. Ready to elevate your career? Contact our team for more information on how to get started today.
Diane Hartley is the president of the Institute for Luxury Home Marketing, a premier independent authority in training and designation for real estate agents working in the upper-tier residential market. Hartley brings her passion for luxury marketing and more than 20 years of experience growing and leading businesses to her role as president of the Institute.