Types Of High Net-Worth Luxury Real Estate Buyers And Their Tendencies
What I learned from selling real estate to millionaires, multi-millionaires, and billionaires.
Joining Concierge Auctions is and will likely be the best career move I made in my entire life.
My job at Concierge Auctions is to sell multi-million dollar properties worldwide at auction. In the ten months I’ve been with the company, I have had many transformational experiences.
One of the greatest perks of my job is who I get to meet. Given the types of properties we sell, I’ve had the chance to talk to and connect with so many high-net-worth individuals.
After working on multiple projects, I started identifying patterns based on the conversations I’ve had with various high-net-worth real estate buyers.
These tendencies are essential because they give you a glimpse into the minds of these wealthy individuals and their needs and desires.
Knowing your buyer’s thinking process is key to success in sales. A custom message catered to your buyer’s desires, needs, and struggles will convert infinitely better than a general message about your product.
Ever wondered what billionaires and millionaires think when buying real estate? Find out what are some of their thoughts in this article.
High-Salary Millionaires | $1M-$5M Buyers
The high-salary millionaires are the first type of high-net-worth buyers I want to talk about. These people typically have salaries of between $100k-$500k per year and buy properties worth $1M-$3M.
People who work high-paying jobs, such as doctors, lawyers, and engineers, are the ones that fit this description the most.
I would also include various small business owners with successful local businesses (e.g., restaurants, franchisees, boutique clothing stores, etc.) and seniors who have had decent salaries and lived frugally to save for retirement from a young age.
High-salary millionaires typically buy multi-million dollar homes to live in. They are the ones usually willing to spend the maximum they can afford (sometimes going…