Luxury might still be in demand, but at what price? Only 3 percent of agents surveyed have sold a home for more than $5 million. The majority of agents surveyed — 38 percent — said that the most expensive home they’ve ever sold had a final price between $500,000 and $999,000.
In addition, agents surveyed who are now luxury agents did not intend to head down the path to luxury; only 18 percent of readers set out to become luxury agents.
“I began in real estate believing I was a luxury property agent, but reality has proven otherwise.” Anne Siegel, Baird & Warner
“Luxurious homes are expensive to keep on the market in these economic times. The buyer pool appears to be smaller. We have to have just as much care in servicing and selling the little ones, as they pay the bills.” Vicki Melonas, RE/MAX 1st Service