Real Estate Agent
What Do Wealthy Home Buyers Want From Their real estate Agent?
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.
About the Author
San Diego Homes
What to look for in a real estate agent and what to know?
We are at the absolute beginning of the home-buying process and recognize we need a real estate agent. What do they do for you? What fees are associated with a real estate agent? What should we know?
These are some very good questions to ask your agent:
Q: Does your agent mostly work with buyers or seller?
Lot’s of agents know how to list homes on the MLS but really suck when it comes to finding homes for their clients. Some agents are really good at finding homes and don’t have many listings. Some are good at both.
Q: Does the agent own her own home.
A big red flag here if your agent doesn’t own real estate themselves then don’t use them. How can they possibly be looking out for your best interest when they don’t even own their own home. This is more common that you might think. Many agents getting started out and even some experienced ones do not own real estate and are clueless about many of the problems that come with home ownership.
Q: is the agent showing you their own listings?
A commission is split 50/50 between the buyer agents (The agent representing the buyer) and the selling agent (Representing the seller) So on a $100k house a $6k commission is split $3k/$3k to each side. If your agent is showing you their own property they are trying to get you to buy it so they can get an extra big commission check.
In this case do not be pressured into buying it the agent is doubling their commission and this is usually the only motivation for showing it to you and getting you to buy it. If you do end up actually liking the house that you agent has listed ask for a 2% reduced commission. This will lower your purchase price and or be able to get you some or all of your closing costs paid.
Q: Get references
Ask your agent for references and call them this will tell you tons. Calling around and asking lots of questions will tell you much more about your agent than anything else.
Q: Trust but verify
Most agents are highly educated in Real Estate Law but not in other issues. Anything your agent tells you should be trusted but verified. I have multiple times experienced agents telling buyers and seller things that are not at all accurate. I am often consulted with to set the record straight. In fact as I am writing this I have a family member being told to rent their old house instead of selling as it will not affect their current purchase. This is the Agent saying this, however it is not at all true. The Realtor has not bothered to verify this fact with the lender or anyone for that fact. I have had to set the record straight and save this deal otherwise their will be no new home purchase. Agents are not always as knowledgeable as they seem.
Lenders in many ways are far better sources for real estate related questions as they are dealing day to day with the constant changing regulations.
Last but not least “Trust your gut” if something seems off with your agent their probably is something wrong.
Feel free to contact me if you have any questions. mike@4realestatesuccess.com
How To Be A GREAT Real Estate Agent
|
|
Being a Real Estate Agent is not for wimps Occupations Mug (Green, Ceramic, 11oz.) $11.99 This Real Estate Agent Mug has undergone extensive quality control before reaching you. We have over 10 years experience in selling products on the internet. The items are created by us and are even customizable! Just contact our great customer service for any questions…. |
|
|
BEWARE OF THE REAL ESTATE AGENT Coffee Mug in Metallic Colors T-ShirtFrenzy offers over 30,000 designs on tons of products to offer millions of variations. You can search our store for something for everyone on your gift list or shop for yourself (our personal favorite). Please contact us with questions…. |
|
|
BEWARE OF THE REAL ESTATE AGENT Mug for Coffee / Hot Beverage (choice of sizes and colors) T-ShirtFrenzy offers over 30,000 designs on tons of products to offer millions of variations. You can search our store for something for everyone on your gift list or shop for yourself (our personal favorite). Please contact us with questions…. |
|
|
Boys on the Side $2.86 Raucous, heartwarming gals-on-the-road odyssey with lesbian lounge singer Whoopi Goldberg and real estate salesperson Mary-Louise Parker heading on a cross-country car trip. Along the way they’re joined by flirtatious Drew Barrymore, and before they reach their Southern California destination, the trio encounters a series of happy and sad surprises. 117 min. Standard and Widescreen (Enhanced); Sou… |
|
|
Successful Online Marketing Techniques For Real Estate Agents And Brokers $7.99 … |
|
|
How to List and Sell For Sale by Owners $9.95 Here’s what you’ll learn on this audio: * WHAT to say to FSBOS — HOW to say it, WHEN and WHY* HOW to OVERCOME the most COMMON FSBO Obstacles and Objections* HOW TO completely ELIMINATE the RISK of REJECTION from any FSBO* KEYS to STEERING CLEAR of VIOLATING the Do-Not-Call Registry * An Easy-to-Follow process to OVERCOME your CALL RELUCTANCE * WHEN is the BEST time of day to CALL For Sale by Own… |
|
|
The Haunted Mansion [Blu-ray] $8.14 Features include: •MPAA Rating: PG•Format: Blu-Ray•Runtime: 88 minutes… |
|
|
Your Open House {How You and Your Real Estate Agent Make It a Success} … |
|
|
working with an agent: buying a home … |
|
|
Calculated Industries 3405 Real Estate Master IIIX Real Estate Finance Calculator $33.49 Calculate complete PITI payment solutions amortization combo loans ARMs rent vs. buy comparisons and much more. Ideal for new agents and professionals who dont require buyer qualifying functions…. |
|
|
Real Estate Agent in Office with Others $19.99 Real Estate Agent in Office with Others – Premium Poster |
|
|
The Millionaire Real Estate Agent $18.1 This book is in Like New condition |
|
|
The Champion Real Estate Agent $18.71 This book is in New – Excellent condition |
|
|
The Consultative Real Estate Agent $32.98 This book is in Used condition |
|
|
Internet Real Estate Agent $48.72 No Synopsis Available |
|
|
Profile of a Real Estate Agent $11.69 No Synopsis Available |
|
|
REAL ESTATE AGENT Black House Sweatshirt by CafePress $39.5 HOUSE BLVD presents our Real Estate Agent Clothing for a favorite Realtor or yourself click HOUSE BLVD STORE above for real estate clothes, agent gifts Open House yard signs for MLS marketing House Sweatshirt Tee, TShirt, Shirt Warm up in our stylin’ Hanes Heavyweight 90/10 cotton/polyester sweatshirt. Thick but not bulky, for maximum comfort and durability whether you’re working out or hanging out. 10.1 oz. patented PrintPro174; fabric in a 90/10 cotton/polyester |
|
|
OPEN HOUSE for the Agent Real estate agent Golf Shirt by CafePress $20 Stop being a Secret Agent with your Open House Golf Shirt to identify you as the Open House’s Real Estate Agent bookmark HouseBlvd.com for RealtorR merchandise, gifts, and Open House signs Real estate agent Golf Shirt Tee, TShirt, Shirt Tee off in casual style. Our pique knit golf t-shirt is a comfortable, lightweight way to play 18-holes and beat the heat. Features, stylish white pearl buttons, yet it feels like wearing your favorite t-shirt. Dress it up or down. Throw a blazer over lat |
|
|
Real Estate Agent Coffee Large Mug by CafePress $18 Instant Real Estate Agent Just Add Coffee. T-shirts, mugs, tote bags, teddy bears, hoodies and other apparel and gifts for Real Estate Agents. Coffee Large Mug Super-size your favorite beverage or just size-up to avoid spills with our hefty, 15 oz. ceramic Large Mug. Large easy-grip handle. When you need more, mug it up. Measures 4.5 tall, 3.25 diameter. Dishwasher and microwave safe. |
|
|
Real Estate Agent Coffee Golf Shirt by CafePress $20 Instant Real Estate Agent Just Add Coffee. T-shirts, mugs, tote bags, teddy bears, hoodies and other apparel and gifts for Real Estate Agents. Coffee Golf Shirt Tee, TShirt, Shirt Tee off in casual style. Our pique knit golf t-shirt is a comfortable, lightweight way to play 18-holes and beat the heat. Features, stylish white pearl buttons, yet it feels like wearing your favorite t-shirt. Dress it up or down. Throw a blazer over lat |
|
|
The World’s Greatest Real Estate Agent Mother’s day Large Mug by CafePress $18 The World’s Greatest Real Estate Agent If you are The World’s Greatest Real Estate Agent or if you know someone who is The World’s Greatest Real Estate Agent, then this gift is for you Mother’s day Large Mug Super-size your favorite beverage or just size-up to avoid spills with our hefty, 15 oz. ceramic Large Mug. Large easy-grip handle. When you need more, mug it up. Measures 4.5 tall, 3.25 diameter. Dishwasher and microwave safe. |
|
|
Trust Me I’m a Real Estate Agent Greeting Cards P Real estate Greeting Cards Pk of 10 by CafePress $18 Visit our Job Shirts for more Trust Me I’m a Real Estate Agent shirts,Trust Me I’m a Real Estate Agent t shirts,job and office mugs, hats,stickers, pins Real estate Greeting Cards Pk of 10 Greeting cards are a great way to express yourself and to keep in touch with friends and family. A personal note on a beautiful card will make a lasting impression and a touching keepsake.Available in your choice of paper stock |
|
|
Success as a Real Estate Agent For Dummies $16.49 This book is in New – Excellent condition |
|
|
The Tech-Savvy Real Estate Agent $37.72 This book is in Good Used condition |
|
|
Real Estate Agent’s Field Guide $14.96 This book is in New – Excellent condition |
|
|
The Real Estate Agent’s Guide to FSBOs $14.96 This book is in New – Excellent condition |
|
|
The New Age Real Estate Agent $14.01 No Synopsis Available |
|
|
REAL ESTATE AGENT Gray House Hooded Sweatshirt by CafePress $45 Stop being a secret agent. Get instantly noticed by wearing promotional clothing to immediately identify you as a Real Estate Agent see all our Real Estate promotional clothing at HouseBlvd.com. House Hooded Sweatshirt Tee, TShirt, Shirt The hoodie: the perfect utilitarian piece of clothing. Leave your hat and scarf at home Stay warm and comfy in your Pullover Hooded Sweatshirt. This hoodie is constructed with a cotton/polyester blend – both durable and comfortable.Heavyweight 90 |
|
|
Diva Real estate Agent Attitude Mini Button 10 pack by CafePress $20 Diva Real Estate Agent. OK…you probably won’t have to announce this if you’re an actual diva. People should already know. But buy it for a friend who’s a diva real estate agent. Attitude Mini Button 10 pack Add fun accents to jackets, backpacks, or mix ‘n match our Mini Buttons. Our Mini Buttons are the perfect size for trading and collecting. Pin ‘em on1 inch diameter. Metal shell. Mylar/UV protecting cover. Pinned metal back |
|
|
REAL ESTATE AGENT Blue House Ringer T by CafePress $22.25 Stop being a secret agent. Get instantly noticed by wearing promotional clothing to immediately identify you as a Real Estate Agent see all our Real Estate promotional clothing at HouseBlvd.com. House Ringer T The Ringer T has made a fashion comeback, and ours is a popular favorite. This classic style is sure to impress even the most discerning t-shirt connoisseur with an eye for retro-coolness. Great for relaxing in comfort year-round.5.5 oz. 100% pres |
|
|
Realty Mark Real estate agent Note Cards Pk of 20 by CafePress $25 The true mark of excellence. Realty Mark products display the Realty Mark logo by default. If you are a Realtor or real estate agent with Realty Mark, please feel free to select your branch logo in Real estate agent Note Cards Pk of 20 Sending a note card is the perfect way to express yourself anytime. Let your friends and family know you care, whether you’re marking a special occasion or just keeping in touch. A personal note on a beautiful card will make a lasting impression and a tou |
|
|
Real Estate Agent Occupations Women’s Boy Brief by CafePress $17.5 Real Estate Agent Occupations Women’s Boy Brief Ladies, sexy meets comfy in these eye-catching Boy Briefs. Inspired by the classic men’s briefs but made for the style-conscious ladies, it features an authentic fly and cozy elastic waistband. You go girl Cotton/Spandex blend jersey. |
|
|
REAL ESTATE AGENT Blue House Women’s Tank Top by CafePress $22 HOUSE BLVD presents our Real Estate Agent Shirts for a favorite Realtor or yourself click HOUSE BLVD STORE above for real estate clothes, agent gifts amp; Open House yard signs for MLS marketing House Women’s Tank Top Sporty and sexy, wear our women’s tank top to beat the summer heat or workout in cool comfort. Our tank top is made of 100% combed ring spun cotton, and cut for a close, fashionable fit. Neck and armhole are carefully shaped to conceal a bra.6.1 o |
|
|
Realty Mark Real estate agent Men’s Polo by CafePress $40 The true mark of excellence. Realty Mark products display the Realty Mark logo by default. If you are a Realtor or real estate agent with Realty Mark, please feel free to select your branch logo in Real estate agent Men’s Polo Comfort never looked so good — or wore so well. Made of durable 100% combed cotton 6.8 oz, it breathes well so you39;ll stay cool on even the hottest afternoon. This classic two-button men39;s polo shirt is ideal for that casual get-together or jus |
|
|
Real Estate Agent costume Humor Light T-Shirt by CafePress $22 This is my Real Estate Agent costume t-shirts, stickers and gifts are fun for halloween or any other occassion. Humor Light T-Shirt Tee, TShirt, Shirt This light t-shirt will be fashionable even after the zombie Apocalypse. In fact, this shirt might be the very reason you’ll survive said Apocalypse. The light color shows you aren’t worried about getting stains – and even if you were, those stains show t |