If you’re looking to advance your luxury real estate career, the luxury market report provides a monthly overview of the data and trends in luxury real estate markets throughout 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 active and recently-sold luxury properties that allows professionals to gain insights that can be shared with colleagues and information pertinent to clients.
The report is designed to provide real estate professionals 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 luxury real estate career and establish yourself as an expert in your respective 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 to help set yourself apart from the competition.
Some common ways to utilize the information contained in the luxury market report include featuring the information in:
1.) Your listing presentations
2.) Mailers to current and potential clients
3.) Follow-up correspondence
4.) Social media posts
5.) 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 creative pieces in her follow-up correspondence with potential leads to help differentiate herself 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 Your Luxury Market Reports
These monthly market reports are available to download for free on our website. You can also read our monthly blog article 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 help you advance in your luxury real estate career. 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 referral network.
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 real estate professionals who have earned it have the knowledge, experience, competence, and confidence needed for successful transactions. Ready to elevate your luxury real estate career? Contact our team for more information on how to get started today.