The summit on luxury homes and high-end buyers brought over 100 real estate professionals to the Rosewood Hotel in Menlo Park last month, where they listened to top producers explain how they market to the ultra-affluent across the globe.
The panel of experts at this year’s Asian Real Estate Association of America Silicon Valley Mega Luxury Real Estate Summit included David S. Friedman, co-founder and president of Wealth X; Ken DeLeon, founder of DeLeon Realty; Michi Olson, Alain Pinel Realtors vice president of global business development and relocation; and Arthur Sharif, owner of Arthur Sharif & Associates. DeLeon, Olson and Sharif are members of the Silicon Valley Association of Realtors.
Friedman said in order to serve its ultra-high net worth clients efficiently, Wealth-X acquires extensive information about them–from their lifestyles, their passions, daily schedules, acquaintances and interests to what type of shoes they buy and food they eat. He indicated there are 211,275 UHNW individuals in the world whose total net worth is $30 trillion. The average UHNW individual is 59 years old, with an average liquidity of $35 million. About 70,000 of UHNW individuals live in the U.S.; 19,000 Germany; 14,700 Japan; 11,500 the UK; and 11,000 China.