Luxury Portfolio International® has released a white paper on “Young Affluents in the Digital World: The Impact to Real Estate,” developed to give its member firms a deeper understanding into this increasingly influential demographic—90% of whom indicate that homeownership is very important to them.
Commissioned by Luxury Portfolio International®, the luxury face of Leading Real Estate Companies of the World®, the white paper offers unique insights on how to leverage the changing role of the salesperson in the digital age and is based on research from the Survey of Affluence and Wealth in America, produced by Harrison Group and American Express Publishing, part of the Affluent Media Group, a Division of Time, Inc.
Several key takeaways are explored in detail in the white paper, available exclusively to Luxury Portfolio members. With the understanding that Young Affluents believe online access to user feedback and category experts is a more valuable way to conduct research than consulting a sales professional, it becomes the sales professional’s responsibility to identify and present personally relevant information not easily found online.
“Because of this group’s proficiency in conducting online research, the sales professional’s role has evolved to become, in essence, a ‘Lifestyle Concierge’,” said Stephanie Pfeffer-Anton, Luxury Portfolio executive vice president. “While so much information is readily available to consumers, true market intelligence – especially as it relates to the distinct needs of any given consumer – has become more valued than ever and is a true differentiator of a great sales person.”
As a whole, Young Affluents consider time a commodity to be protected, and they view technology as a tool to help them maximize efficiency and make room for the things they love. With this focus, they conduct their own research initially, but then reach out directly to a listing agent, recognizing that approach as the most reliable way to get answers quickly.
Further, the research revealed that Young Affluents have a new sense of personal economic invulnerability, having achieved self-reliance during the recession. Despite this, they have maintained resourceful consumer habits developed during the recession and appreciate an excellent sales experience even more than their predecessors. They value professionals who are armed with statistics, tools and marketing expertise.
In addition to this and other research on the high-end segment, Luxury Portfolio markets over 25,000 luxury homes to over three million high-net-worth visitors annually on its award-winning website www.LuxuryPortfolio.com and through its magazine, which is distributed twice a year with a total distribution to over 100,000 high net-worth consumers per issue.
For more information, visit www.LuxuryPortfolio.com.