Wealthy home buyers who buy multi-million dollar homes are typically self-made millionaires with new money, according to a recent online survey of 683 Coldwell Banker Previews International property specialists. The study revealed the top professions of these affluent customers. According to the respondents, 88 % of their customers are business or corporate executives, 37 % are physicians, 31 % are lawyers, 30 % are financial professional and 14 % are entertainers, entertainment executives or professional athletes.
Wealthy home buyers require their real estate agents to be equipped with special skills, according to the Coldwell Banker’s survey. Given the magnitude of the financial transactions involved in luxury home purchases, 78 % of sales associates said that the top most need their clients require from their real estate agents is privacy and confidentiality. The luxury customers also want their real estate agents to exercise discretion while dealing with their multi-million dollar transactions. Almost 70 % of respondents polled that their wealthy clients want their real estate professionals to offer customized services while 44 % said that the luxury home buyers want their agents to have good network and work relationship with executive assistants, CPAs and attorneys.
Wealthy home buyers also want their agents to know the inside scoop on the real estate market, according to 36 % of the respondents in the Coldwell Banker’s survey. Seventeen percent of the sales associates surveyed indicated that one of the necessary skills for real estate professionals working with affluent customers was the ability to provide emotional support to their clients. And according to 11 % of respondents, luxury customers want their real estate agents to establish personal rapport with their clients.
The study also included queries on the “must have” amenities that the affluent clientele want in their luxury homes. Wealthy home buyers want media rooms in their homes, according to 60 % of respondents and another 60 % polled that their affluent customers want “wired” homes. However, there are a few home design elements that are out among luxury home buyers. Gourmet kitchens, granite countertops and wet bars are no longer counted as luxuries by wealthy home buyers, according to the survey respondents.
The survey also found that the multi-million dollar home buyer pays a typical down payment of 20 % to 30 %, while a quarter of clients put down 30 % to 50 % of the sale price.
Watch the video related to real estate agent
Here’s a real estate agent doing a great job marketing herself with Twitter, Facebook and other social media – without a fancy website, and virtually for free.
Help answer the question about real estate agent
Where can I find a good, aggressive real estate agent who specializes with investors?I am a real estate investor and am looking for a experienced real estate agent as well as a real estate broker who specializes with investors. Can anyone please tell me how to find one, I have googled, ect and haven't come up with much.
Thank you.
You have a LEGAL AND BINDING CONTRACT. all disclosures within the contract should be what the seller knows about the property. Now the other agent cannot FORCE you to sign anything. Basically what the agent is trying to do is cover his clients ass- if the selling side has a problem with it you can always take it before arbitration (see how they like that). Either way the selling agent is not within his rights to present other docs. for disclosures, nor do you let them off the hook. You will have no recourse if you do. Hope this helps.
Check with your local Howard, Perry & Walston school, or go to http://www.hpwreschool.com for all the info you are looking for. Good luck, it's hard but well worth it in the end.
this guy and people like him are why we are in a recession right now, i cant believe he said the things he said,he is basically saying to trick people into buying a more expensive house then they can afford so that you get a bigger commission,what a piece of shit,that is exactly why so many people are losing there homes,realtors and bankers getting people to focus on the monthly payment and disregard things like two separate interest rates (80/20 loan)interest only and adjustable rates.
Common sense. Thanks.
This guy sells one house and he thinks hes the best agent ever.
great…. thanks..
You have to join a real estate investment group AND BE ACTIVE!
In your areqm there may be a landlord association or a real estate investment group.
Its up to you to do your homework.
You cuold call a few offices to make an appointment to look at some property OR tqke one or two out to breakfast or lunch.
OR you could go for a little ride in your neighborhood or area. Look for complexes and the names of those offices managing them.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
@crispybacon100 OMG so saw this and thought DON VITOS A REAL ESTATE AGENT?
Nice one………..
After you have met the eligibility requirements and passed the examination, you may apply for your real estate salesperson's or broker's license. You must submit your application for license to the Missouri Real Estate Commission within six months of the date of your 48-hour pre-examination course completion. If no education is required, proof of satisfactory completion of BOTH portions of the required examination must be completed within six months prior to the date the application for license is submitted to the Missouri Real Estate Commission. Follow the instructions on the reverse side of your passing score report to apply for your salesperson's or broker's license.
Questions About Licensing
Questions regarding license application or information concerning licensure requirements should be directed to:
Missouri Real Estate Commission
3605 Missouri Boulevard
P.O. Box 1339
Jefferson City, MO 65102
573-751-2628
Fax:573-751-2777
How to Contact AMP
For inquiries and general registration information, you may contact AMP at:
Candidate Services
AMP
18000 W 105th Street
Olathe, KS 66061
1-800-345-6559
MOREP@goAMP.com
My father is a commercial real estate broker and he has definetly made a very successful living off of it. I dont know exactly how much comission he makes, but I have heard he has made 4 million before on one building, I dont know if that is the highest he has made on one building though. He has sold 70 million dollar buildings before. It definetly makes you much more than residential real estate. And the market doesnt get bad for commercial. It is a better market and a smarter choice.
Here’s A Great Course For Agents On Bank REO’s
moneywithbankreos (dot) blogspot (dot) com
I bought a home in foreclosure 3 months ago and you SHOULD ABSOLUTELY WORK WITH A REAL ESTATE AGENT. As a first time home buyer myself, there are many situations that come up and you need someone who is experienced to be working for you. And that is the key your real estate agent should be working for you!
I worked with 3 different realtors before we found someone that worked for us and we did not sign exclusivity contracts with any of the realtors. The only time you enter an agreement with your realtor is when you go to make an offer on a property.
The commission is paid for by the owner, in the case of a foreclosure, this is the bank.
But like I mentioned it is extremely important to have an agent. When we were buying our house, the bank that owned the property had certain rules that we had to abide by. For example they determined the closing date and for every day we went past that closing date, we would have to pay the bank $100 a day. Our realtor was on top of everyone, especially the mortgage broker, to make sure we closed on this date. Your mortgage is really where you will get held up in the process so having our realtor to deal with everyone and expedite the process is why we are now happy homeowners.
The last person that answered and said it is not possible to collect a commission if you are the principle is incorrect. They may want to check their source.
I am an active real estate agent. I have bought 2 homes that were my primary residence in the last 7 years. Each time I represented myself as the buyer's real estate agent. Each time I deducted my commission from the price of the home because that is how I wanted to get paid. But I had the option to get paid the normal 3% as the buyer's agent and have that money go through my broker and their commission split to be taken out. So in order to avoid all that, most brokers allow their agents to have at least 1 personal transaction in order to benefit from it. Maybe things are different in NY – I am a TX agent. I say get your license but don't be a broker (more expense and liability) just be an agent. Find a broker that will just charge a minimal desk fee ($250) per month or a certain amount per transaction ($200) and they also will pay your E&O insurance. As long as you keep your license active, this will be a great asset to have in the future as you and your family or friends buy homes. It will save you money in buying and selling. Just make sure that everyone involved in the transaction knows you are a licensed agent and representing yourself.
Good luck.
The seller, in this case the lender, pays the agents.
i’ll suck up any info i can as a new agent, thanks!
The Realtor is telling the truth.
New home builders actually build in the 3% they pay Realtors. If you don't bring one the 3% goes directly to the bottom line.
Go into a new home development and tell them you want 3% taken off the top of the home.
They will most likely tell you to go take a hike.
Realtors can actually ask very specific questions that you as a neophite would never think to ask.
Realtor also know that the "Statute of Frauds" prevents the salesperson in the model home from VERBALLY promising you things and not putting it in writing.
Many people decide to NOT use an agent to buy a new home and pay dearly for this decision.
Here's what normally happens.
They go into a new home development and the salesperson working for the new home builder asks "Are you with your agent?"
If you go to the models THE FIRST TIME without an agent you cannot bring your agent back to negotiate the contract.
Once they know you are not represented by professional council then they can go to work on you. How do they work on you? By VERBALLY promising things they know they don't have to live by because it was never put in writing.
P.S. Always remember this if you decide to "Go it alone" Verbal promises cannot be enforced in a court of law due to the "Statute of Frauds"
Hope this helps!
Terry S.
http://www.Welcome2Arizona.com
2:40 “how to list entire developments” – this would make a great topic for a video.