Recently, The RE/MAX Collection hosted its second annual Luxury Forum at the Hyatt Regency Pier Sixty-Six in Fort Lauderdale, Fla. The Forum gathered more than 200 luxury home specialists and addresses current issues facing the luxury market. Topics addressed range from business planning and marketing tips to financing solutions for luxury properties and the changing landscape of luxury clients.
“The luxury market is constantly evolving,” says Anne Miller, Brand Manager, The RE/MAX Collection. “It’s important for brokers and agents to know what to expect from luxury homebuyers and sellers and stay ahead of the latest marketing tools, lending regulations and other topics relevant to the luxury market. The Luxury Forum is an ideal place to get that information.”
At one presentation, Bank of America representatives discussed options for cash buyers to refinance shortly after a home purchase, loan programs for medical professionals, and financing choices for luxury homebuyers. They shared information on today’s homebuyers and, in particular, the many multicultural buyers financing high-end homes. In addition, they discussed the nationwide availability of Preferred Rewards, a groundbreaking program that recognizes and rewards clients for choosing Bank of America for more of their banking and investment needs.
Luxury Home Overview
According to the Institute for Luxury Home Marketing (ILHM), of the 23,390 luxury homes analyzed in the U.S., the median price was $1.3 million. Markets with the highest median prices include:
- New York at $4.1 million
- Los Angeles at $2.8 million
- San Francisco at $2.9 million
This year, the Luxury Forum attracted attendees from 25 states and three Canadian provinces. As a whole, RE/MAX has more than 1,200 active Affiliates who hold the Certified Luxury Home Marketing Specialist (CLHMS) designation.
For more information, visit www.remax.com.