President of International Research Group Ipsos Mendelsohn Tells Luxury Real Estate Agents, "Rich niche is small, but techno-savvy"

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Bob Shullman, President of the international research firm Ipsos Mendelsohn, presented the findings of his firm's 2008 "Afflluent Survey" to 100 top luxury home agents from across the U.S. at the Leaders in Luxury (LIL) meeting, hosted this week in Miami Beach by The Institute for Luxury Home Marketing (ILHM).

Many in this market segment are very wealthy. They are also early adopters of technology. These are the buyers who can afford to purchase, and often do, despite the shifts in the financial market. It is more important than ever that luxury real estate agents understand the lifestyles, attitudes and wants of this group

The rich are a smaller group in the U.S. than one might think, Bob Shullman, President of the international research firm Ipsos Mendelsohn, told almost 100 top luxury home agents from across the U.S. at the Leaders in Luxury (LIL) meeting, hosted this week in Miami Beach by The Institute for Luxury Home Marketing (ILHM). However, he said, they are the key spending group in today's luxury home market. He went on to tell the group that America’s very rich are also techno-savvy. According to Shullman, as of July 2008 (before the stock market declines in September and October), there were just 1,029,000 U.S. households with a total income of $250,000 or more and liquid assets of $1 million or more.

Shullman -- quoting from his firm's new "Affluent Survey, 2008" -- said that households earning $250,000 or more are heavy users of technology. This group spends an average of 27.4 hours per week Online, 54% more time each week than they spend watching television. Shullman also shared information on the publications the wealthy read and where agents should network to find wealthy prospects.

"Shullman is right. This very affluent group represents the 'sweet spot' in today's real estate market," echoed ILHM founder and CEO, Laurie Moore-Moore. "Many in this market segment are very wealthy. They are also early adopters of technology. These are the buyers who can afford to purchase, and often do, despite the shifts in the financial market. It is more important than ever that luxury real estate agents understand the lifestyles, attitudes and wants of this group," added Moore-Moore.

Shullman's presentation at LIL was the first time his firm's just-released study on the affluent has been shared with a real estate audience.

"The insights from the Ipsos Mendelsohn research gave me valuable insights into how to reach more affluent prospects," said Sharon Simms, a LIL attendee and luxury expert from Tampa/St. Petersburg (FL). "Information, like this cutting-edge research, is just one of the things that set the Leaders in Luxury meeting apart from other real estate conferences. I count on this meeting to deliver the information I can't find elsewhere."

Leaders in Luxury is an invitation-only meeting hosted annually by The Institute for Luxury Home Marketing (ILHM). The event is for agents who work in the million and multi-million dollar housing market. The Institute is the premier training and membership organization for luxury home real estate professionals internationally. The Institute for Luxury Home Marketing.

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