What should agents make of the buzz surrounding the New York City luxury housing cooldown? At Global Connect, Louise Phillips Forbes, a broker at Halstead Property, described the slowed market pace as more of a “healthy pause.” “The rise we’ve experienced since 2014 — we can’t even keep up with it,” she said. “So I’m cautiously optimistic.”
- High-end brokers and developers are cautiously optimistic about the current market.
- The things luxury buyers are seeking in their properties remain relatively unchanged -- exclusivity, privacy, amenities.
- When working with foreign buyers, pay attention to cultural differences.
- Understand your market and use your branding and marketing to sell a story that supports your market.
- It's in the managing transactions and advising clients that agents prove their true value.