By LINSEY STONCHUS
The luxury real estate sector has become a victim of its own success amidst the pandemic: Demand for prime property is far outstripping supply as affluent consumers seek primary or co-primary homes and safe sanctuaries for their families far from crowds and densely packed cities.
Bidding wars, quest for more space and spacious backyards and swanky pools, along with resort-like amenities indoors and strong Wi-Fi, have created a bullish market unlike in years past. Not surprisingly, luxury brokerages and their agents face a situation where inventory is drying up as the remaining luxury residences on the market fly off the shelf, sometimes bought sight unseen by buyers. It does not help to have a booming stock market, stimulus money trickling down from the federal government and low interest rates.
This Luxury Hour on Wednesday, May 19 at 11 a.m. to noon ET (New York time) is geared to help brokers and their luxury agents with experts discussing:
- How serious is the luxury home inventory crisis and how soon will it exacerbate from an already tight situation?
- What is the outlook for the rest of the year and early 2022?
- Is this inventory crunch comparable to any period in the past and how was that issue overcome by brokers and agents?
- How should brokers and agents prepare for what’s to come this time?
- What tools will agents need to win more listings amidst the scrum for business?
- Best-practice tips for agents to stay highly competitive as the bull run in luxury property continues
- Lawrence Yun, chief economist and senior vice president of research, National Association of Realtors
- Marci Rossell, chief economist, Leading Real Estate Companies of the World
- Michael LaFido, founder/CEO, Marketing Luxury Group and Luxury Listing Specialist (LUXE)
- Kristine Burdick, President Midwest, Howard Hanna Real Estate Services
In conversation with Mickey ALAM KHAN, president, Luxury Portfolio International
Attendees can request the deck.
Register for the free webinar: https://register.gotowebinar.com/register/4289363498774558224
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