The 3 tiers of luxury homebuyers: How well do you know your client?

  • According to new research from Luxury Portfolio International and YouGov, not all affluent buyers are the same.
  • Their report, "The Affluent Homebuyer: A Quest For Meaning," separates millionaire buyers into three tiers, each with different motivations and requirements.
  • The lowest tier, the Practical Explorers who are looking in the $1 to $2 million price range, were seen as needing the most help from their real estate agent.

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If you think you know your luxury buyer, think again. New findings by Luxury Portfolio International, the luxury division of Leading Real Estate Companies of the World (LeadingRE) and its research partner, YouGov, separated luxury buyers into three tiers in the report, “The Affluent Homebuyer: A Quest For Meaning.”