The MLS can’t offer what the rich want most: Privacy

Wealthy consumers are growing in number with some new demands, and discretion is at the top of the list
  • Luxury consumers' concerns about their privacy may lead to more high-end pocket listings that rely solely on a listing agent's network of buyers.

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Good news for agents and brokers looking to edge their way into the industry's opulent tier: The population of wealthy consumers around the world is rising, and they increasingly want to invest in real estate, according to Luxury Portfolio International's 2017 Global Luxury Real Estate Report published in Vienna, Austria today. But those looking to get on the inside will have to meet the expectations of these well-heeled clientele who value the virtue of privacy more than ever before -- and may want to avoid listing on the MLS as a result. Courtesy of Luxury Portfolio International's 2017 Global Luxury Real Estate Report Globally there are now 1.6 million households with a total net worth of $10 million, representing an 11 percent increase since 2015 and a massive 91 percent increase (you read that right) since 2010. While the Asia-Pacific region has seen a drastic expansion of its wealthy population -- a more than 20 percent increase year over year -- North America is wh...