Press Releases

Luxury Housing Report: National luxury home inventory up sharply in 2009, despite price cuts

The most recent ILHM Luxury Housing Report reveals that inventories in the luxury home market are growing, days-on-market rising, and price reductions becoming more frequent. The prediction?  Watch for increasing short sales and foreclosures in the mansion market. 

Dallas, June 12, 2009 –  Data as of June 1, released today by The Institute for Luxury Home Marketing (ILHM) for its ILHM National Luxury Housing Report -- the leading measure of the U.S. luxury home market -- show that the inventory of luxury homes for sale has risen more than 20% in the first  five months of 2009, while the days-on-market for active listings has increased  14% (to 185 days) for the same period.  The report also reveals that 41% of the luxury homes on the market as of the first week in June, have had a price reduction in the prior 90 days.  The statistically weighted national median price for homes in the study is $1.2 million.

     

 

“Typically the luxury home market survives economic downturns relatively unscathed,” said ILHM founder Laurie Moore-Moore.  “Our ILHM Luxury Housing Report data for the last quarter of 2008, made it clear that this real estate crunch is different.  The luxury niche was the last market segment to slow, but the brakes are now on. 

“The credit crunch, stringent loan requirements, job losses, and the shrinking of the portfolios of high net worth households have combined to create the perfect storm in the luxury market.  Add the number of individuals who stretched to buy expensive homes using inappropriate loans, which they now can’t afford, and one can conclude that the luxury market will be getting even softer.  Unfortunately,” added Moore-Moore, “we’re predicting an increase in luxury short sales and foreclosures through the rest of 2009, as more financially strapped owners find it difficult to sell.”

The ILHM Luxury Market Report conclusions are reinforced by data from the National Association of Realtors indicating that there are 41 months worth of inventory of homes priced at $750,000 and above in the U.S., as compared to 18 months worth in 2007.  According to Inside Mortgage Finance, as a percentage of homes sold, luxury homes in the $750,000 plus price range have dropped from 4.4% of total sales in 2007 to 2.3% in 2009.

“Even the markets which have been considered reasonably healthy -- like Dallas, Charlotte, and Austin – are showing evidence of a softer luxury market.   The percentages of luxury home listings in those markets with a price reduction in the past 90-days were 47%, 41.5% and 46% respectively, added Moore-Moore. “In some respects, this may be the sign that sellers are becoming more realistic, an important step in beginning to clear inventory.”

About the ILHM Luxury Housing Report
The data for the ILHM Luxury Housing Report is calculated by Altos Research for ILHM and is based on properties on the market at $500,000+ in the 10 most expensive zip codes in each of 31 regional markets.  The national composite data is a weighted average of the data from each region.  The “ILHM National Luxury Composite Price” is a statistical representation of the median price of the 10 most expensive zip codes in the 31 regions measured. 

The report is updated weekly and detailed charts are also available for each of the 31 markets.

Premiere Luxury Home Marketing Course Now Available Online

The Institute for Luxury Home Marketing (ILHM) is now offering its Certified Luxury Home Marketing Specialist (CLHMS) designation training online through the new ILHM online training portal.

The 14-hour web course meets the training requirement for the CLHMS designation and covers the same content as the popular live course.  Over 8,000 agents have completed live training in the U.S. and Canada since 2003. The online course debuts at a special price of $395 which will be good through July 4, 2009, a savings of $100.

“Just like our live course, completion of the online course will result in membership in The Institute for Luxury Home Marketing and agents will have full access to all member benefits,” said ILHM President Waco Moore. “This includes the $2,900 worth of free advertising on the Wall Street Journal’s website.

“The course is now as close as agents’ computers -- literally at their fingertips," said Moore. "They can learn how to take their luxury business to the next level, working from the office or at home in their pajamas and bedroom slippers.”

“As of June 1, we have hundreds of luxury agents on our waiting list for online training,” said Moore. “The demand for this course --developed by ILHM founder Laurie Moore-Moore—has been extremely high. The availability of the course online eliminates the need for international agents to travel to the U.S. to attend a live session. As a result, we expect our international membership to expand, offering our thousands of members even more global networking opportunities.”

Danny Veal of Keller Williams in metropolitan Orlando (FL) reported immediate success after completing the training, “After completing my recent training, I went out on not one, but two listing presentations on homes over 19,000 sq. ft. The valuable information I received helped me secure both listings. One is listing at $4.9 million and the second is listing at $10.8 million. Thank you so much!!!!”

Gayle Henderson of RE/MAX Excalibur in Phoenix (AZ) said this about the course, "Anyone specializing in Luxury Home Marketing, or wanting to develop the skills for this market niche, should make this certification program a high priority. The knowledge gained and the networking opportunities will be most rewarding and enriching."

Agents can find more information about the course and the many benefits offered by membership in The Institute on the ILHM website, and the Course Registration Page.

Institute for Luxury Home Marketing Partners with Proxio

Luxury agents gain world-wide visibility for listings and global networking opportunities through new international MLS

The Institute for Luxury Home Marketing (ILHM) has announced a marketing partnership with Proxio, the international MLS and global referral network designed to give international visibility to property listings and facilitate networking and referrals among real estate professionals around the world.

“Proxio will provide Institute members with an online platform for connecting to agents across the globe who want international exposure for their properties and who wish to create a network of agents for the sharing of referrals,” said Institute founder Laurie Moore-Moore. “When Proxio was launched this past spring at the SIMA trade show in Spain, we immediately knew this was a service our luxury home experts could profit from.”

According to Janet Case, founder and CEO of Proxio, the new network is based on the idea that the more high-trust relationships you have with agents outside your local marketplace, the more referral opportunities you create and the more referral income you will generate.  The Proxio website is both a network of agents and a vehicle for the sharing of property information. 

“We see numerous benefits for our members around the world,” says Institute President Waco Moore.  “Our members will have a competitive advantage in listing presentations when they can talk about international listing exposure.  The site automatically translates listings into seven languages, and through the thousands of agents already in the Proxio network in over 60 countries, our members will gain exposure to serious buyer prospects.”

“Increasing globalization means clients are buying everywhere—and any agent with a long-term intent to be successful in this new environment needs to reach beyond traditional borders to promote listings, attract foreign buyers, and satisfy clients who want to move to another country,” says Case.  “We are delighted to help Institute members build referral networks—and trusted relationships—with other Institute members and with agents in other parts of the world. Through Proxio, agents have the ability to control who sees their property information, something which is important to many who work in the most expensive segment of the market where privacy is a concern and in markets where open listings are common.“

While Proxio participation is available to all real estate professionals, The Institute for Luxury Home Marketing (ILHM) has negotiated additional features for its members, who can utilize the expanded service at no cost. 

About The Institute for Luxury Home Marketing (ILHM)
The Institute for Luxury Home Marketing exists to help real estate professionals around the world provide high quality service to buyers and sellers of luxury properties.  Institute members complete special training to build expertise in the marketing of upscale homes and estates and those who meet performance standards may earn the prestigious Certified Luxury Home Marketing Specialist (CLHMS) designation. http://www.LuxuryHomeMarketing.com

About Proxio
Proxio, the international MLS and global referral network, internationalizes real estate professionals overnight with its culturally adapted, multilingual services. More than 2100 real estate offices in over 60 countries participate in Proxio. Proxio addresses the need for real estate agents all over the world to have better access to market information, greater global exposure, and a stronger value proposition for clients. More information at http://www.proxio.com.

New report the first to provide real-time data and insights on nation’s luxury housing market.

The Institute for Luxury Home Marketing will officially launch the ILHM National Luxury Market Report at the National Association of Realtors national convention this week in Orlando, Florida. 

“The ILHM Luxury Market Report is the only real-time national report tracking the luxury market,” says Waco Moore, President of The Institute for Luxury Home Marketing.   Like the Case-Shiller Composite Index and other national indices, it is a bundle of data from markets around the country that give a simplified view and try to get at the question of what’s happening in the marketplace.  Unlike other reports and indices currently available, the ILHM Luxury Market Report focuses exclusively on the top of the market and provides a real-time snapshot of the luxury market at both the local and national levels.   

“We know that real estate is a local business.  We also know that in a given place, at a given time, different price segments within the market perform differently,” says Moore. “Trophy homes at the top of the market might be in high demand and setting new price records, while in the same city starter homes might be stagnant and seeing major downward price pressures.  Most major indices ignore this fact and lump all price segments together to get at some sense of overall market trends.  We don’t do that.  In fact, we look at just the top of the market, so that you can see more clearly what is really happening in luxury markets around the country and the overall luxury trend at the national level. ”

Data in the ILHM Luxury Market Report is based on analysis of properties currently listed for-sale in 31 metropolitan markets across the country.  The report is the timeliest source of market data on current luxury housing market activity.

“Until now, there has simply been no way for people to monitor the trends in the luxury real estate markets around the country," said Michael Simonsen, CEO of Altos Research.  "Combining our unique real-time real estate data with the Institute's leadership position in the luxury home market creates a compelling view of the high-end housing market - a place to see the statistics that you can't find in the headlines.” said Michael Simonsen, CEO and co-founder of Altos Research.

The report examines housing pricing, inventory levels and market conditions in 31 major U.S. metropolitan statistical areas (MSAs): Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Honolulu, Houston, Las Vegas, Los Angeles, Miami, New York, Orlando, Philadelphia, Phoenix, Portland, Raleigh Durham, Sacramento-Tahoe, Salt Lake, San Diego, San Francisco, Seattle, Silicon Valley, Tampa, Minneapolis-St. Paul, Ventura, and Washington DC.

The ILHM Luxury Market Report is updated and published weekly. 

For more information on the ILHM National Luxury Market Report visit: http://www.luxuryhomemarketing.com/report

About The Institute
The Institute for Luxury Home Marketing trains real estate agents who work in the luxury market and awards the prestigious Certified Luxury Home Marketing Specialist (CLHMS) designation to members who meet strict performance standards. Based in Dallas (TX), The Institute has an international membership. For information: www.LuxuryHomeMarketing.com  

About Altos Research
Altos Research LLC pioneered real-time real estate research. Founded in 2005, the company's information products serve investors, traders, and thousands of real estate professionals. Because real estate data is traditionally obscure and highly latent, Altos built the Real-Time Market Intelligence(TM) platform to monitor dozens of housing market metrics as they are right now in local markets across the country. The company publishes real estate reports and real estate data each week for thousands of zip codes around the country.

Top Luxury Real Estate Agents Recognized in Upscale Marketing Competition

Real estate professionals working in upscale markets gathered to see how their marketing techniques compare to the best in the business at the Leaders in Luxury networking symposium for upper-tier Realtors in Miami’s South Beach (FL). Hosted by The Institute for Luxury Home Marketing, Leaders in Luxury (LIL) is an annual invitation-only education and networking opportunity for real estate agents who work in the million dollar plus housing market.

The Institute for Luxury Home Marketing announced this year’s Leaders in Luxury (LIL) award winners, who were chosen by a noted advertising executive for their quality and performance in upscale real estate marketing:

• Michael Morrison of Morrison House Sotheby’s International Realty, Tacoma (WA), “Best Property Marketing Campaign”
• Maureen Kennedy of Pacific Union Real Estate, Oakland (CA), “Overall Excellence in Personal Marketing”
• Carole Smith of Esslinger, Wooten, Maxwell, Coral Gables (FL), “Best Agent Website”
• Aaron Wheeler of Oakville Properties, Campbell (CA), “Best Agent Blog”
• Jana Martin, Keller Williams Realty, Sarasota (FL), “Outstanding Personal Achievement”
• Angela Eliopoulos of Global Owner Properties –Long & Foster, Washington (DC); “Most Unique Property”

“While the awards and recognition are an important aspect of the meeting, the program content and networking opportunities are at the core of the meeting’s value,” according to The Institute’s President, Waco Moore.  Kelly Cobb from Fonville Morisey , Cary (NC)  agreed, “In my almost 25 years of real estate, I don’t recall ever enjoying speakers more,  Even the LIL breakout sessions had presenters who could have been keynotes!” 

Karen Hardestry, Vision Real Estate, Mill Valley (CA), was also enthusiastic about the meeting, “The information provided and quality of agents attending will keep me coming back to LIL year after year.   Superb!”  

Canadian attendee, Nancy Rondeau, RE/MAX Ability Real Estate, metropolitan Toronto (ON) said, “I strive to own the luxury niche in my market.  Annual attendance at LIL is a guaranteed boost to my success in today’s competitive market.”

According to Moore, Leaders in Luxury connects Realtors who focus on the luxury arena, giving them a venue in which they can share constructive ideas, learn from each other’s experiences, and gain new insights into the luxury market from experts in a variety of fields. For information, visit www.LeadersInLuxury.com.

About The Institute for Luxury Home Marketing (ILHM)
The Institute has thousands of members on four continents.  Members who have completed special training and met performance standards may earn the prestigious Certified Luxury Home Marketing Specialist designation. Associates who demonstrate competence in the million dollar and above property arena are recognized with membership in The Institute’s Million Dollar Guild. Find training and membership information at www.LuxuryHomeMarketing.com or 214-485-3000.
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Creating a “front door experience” key to selling luxury homes, says celebrity home builder

Nation’s top luxury agents hear selling tips at Leaders in Luxury

Frank McKinney, known around the globe as the creative building force behind some of the world's largest and most expensive mansions, told approximately 100 of the country’s top luxury real estate professionals  who attended the Leaders in Luxury (LIL) meeting recently in Miami’s South Beach, that selling luxury is about creating experiences. The Institute for Luxury Home Marketing (ILHM) hosted the meeting.

McKinney told the group that every aspect of showing a home should be planned to highlight the special features of the home and that when the front door opens, the prospect should immediately have a wow moment.  McKinney, who designs his homes in a tree house office, is a master of creativity. His new homes have theatrical “unveilings” (rather than grand openings) and draw hundreds of invitees who actually pay to preview his properties.

“McKinney’s presentation pointed out the importance of not just showing a house, but instead, creating an experience that results in the prospects desire to live in the home,” said LIL attendee Betty Landreth of Amelia Bullock Realtors, Austin (TX).  “Every home has a unique story, and it is important to tell that story in our advertising and in the way we introduce the property to a prospect. The ability to turn a showing into a special experience sets a real estate professional apart from the pack and helps sell properties.”

“McKinney is a speaker who makes audiences smile, challenges them to be more successful and leaves them wanting more.  His presentation added excitement and spice to The Institute’s Leaders in Luxury meeting this year,” commented Institute President Waco Moore.

“As part of our agreement with Mr. McKinney, The Institute is also pleased to fund the construction of two houses in Haiti through his non-profit Caring House Project Foundation,” Moore added.

McKinney, a daredevil in Florida’s risky world of speculative high-end real estate, currently is nearing completion of Acqua Liana, an opulent and eco-friendly "green" mansion priced at $29 million and Crystalina, a $30 million residence  Another current McKinney project is a $135 million home, The Manalapan Residence. 

About The Institute for Luxury Home Marketing   

The Institute for Luxury Home Marketing trains real estate agents who work in the luxury market and awards the prestigious Certified Luxury Home Marketing Specialist (CLHMS) designation to members who meet strict performance standards. Based in Dallas (TX), The Institute has an international membership.

President of international research group Ipsos Mendelsohn tells luxury real estate agents, “Rich niche is small, but techno-savvy”

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).

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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Luxury real estate professionals to showcase skills in national marketing competition

Top professionals to enjoy annual "Leaders in Luxury" event.

Seasoned real estate agents working in the upper-tier market have the opportunity to both sharpen their skills and compete against the best in the business in a marketing competition during Leaders in Luxury, a networking symposium for Realtors who work in the million dollar and above price point. The Institute for Luxury Home Marketing (ILHM) is hosting the conference on October 15-17, in Miami Beach.

“Leaders in Luxury offers luxury Realtors the chance to connect and build relationships, share ideas, learn from each other’s experiences, and gain new insight into all aspects of the luxury market from industry experts,” said Laurie Moore-Moore Founder of The Institute for Luxury Home Marketing (ILHM). “The 2008 Leaders in Luxury Marketing Award Competition is a way to share ideas, while also showcasing the hard work and dedication that comes with real estate marketing. These talented agents deserve recognition for their very best efforts.”

The competition includes six award categories for individual agents:

• Best marketing campaign for a property
• Best personal real estate website
• Best real estate blog
• Best overall marketing campaign with emphasis on personal branding
• Outstanding personal achievement, and the most outrageous property listed or sold

Judging was done courtesy of Brand Agent, a Dallas-based advertising/marketing firm. Winners will be announced at an awards dinner on Thursday, October 16 at the fabulous new Gansevoort South Hotel in Miami Beach.

The Leaders in Luxury meeting is by invitation only and offers two-days of educational sessions plus a variety of networking events -- from a tour of multi-million dollar homes in Miami Beach, to networking cocktail parties and fabulous dinners.

“The educational and networking opportunities are invaluable to agents, especially in today’s market,” said Waco Moore, President of The Institute for Luxury Home Marketing, “however, the atmosphere will be that of a social gala among friends. There will also be goodies and surprises for attendees.”

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. Meeting information and an agenda are available at Leaders in Luxury. The Institute for Luxury Home Marketing (ILHM) is the premier training and membership organization for luxury home real estate professionals internationally.

www.luxuryhomemarketing.com

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The Wall Street Journal offers FREE Online property listings to members of The Institute for Luxury Home Marketing

“Special member benefit worth up to $6,300.00,” says Institute President

After a year of negotiations, The Institute for Luxury Home Marketing has entered into an agreement with The Wall Street Journal which allows active Institute members to list luxury residential properties on The Wall Street Journal’s property website at no cost. 

“We’ve been working to find more benefits for Institute members, and we‘re excited about this one,” said Institute President Waco Moore. “One of our goals is to help luxury home agents add the best resources to their marketing tool boxes while squeezing more value from their marketing dollars. Property ads in The Wall Street Journal’s Online edition certainly offer great exposure for luxury listings. The fact that our active members get up to eighteen 60-day property listings at no cost makes this a huge benefit, especially in today’s market.” 

“Not only will this add more marketing value to my existing property marketing plans, but being able to offer to put a seller’s home on The Wall Street Journal’s website, gives a prospective seller one more reason to list with me,” said Institute member Mike Brodie, a top luxury agent with Keller Williams in Dallas (TX). 

Active members of The Institute for Luxury Home Marketing will find information about the free listings by logging onto the Members Only section of www.LuxuryHomeMarketing.com where they’ll find complete information and a short video guide to listing their luxury properties on the Journal‘s website, www.WSJ.com.

About The Institute for Luxury Home Marketing 
The Institute for Luxury Home Marketing exists to help real estate professionals around the world provide high quality service to buyers and sellers of luxury properties.  Institute members have completed special training to build expertise in the marketing of upscale homes and estates.  Those members who meet performance standards may earn the prestigious Certified Luxury Home Marketing Specialist (CLHMS) designation. Information and an international membership list can be found at www.CLHMS.org. 

Top Luxury Realtors to hear from “The Maverick Daredevil Real Estate Artist”

Mansion builder to share success tips at Leaders in Luxury event

August 12, 2008 -- Frank McKinney, “the Maverick Daredevil Real Estate Artist,” has been chosen as a keynote speaker for Leaders in Luxury (LIL), an invitation-only special event for 100 of the nation’s leading real estate professionals who work in the upper-tier market. Hosted by The Institute for Luxury Home Marketing (ILHM), this year’s LIL event will be held in South Beach (Miami) at the luxurious new Gansevoort South Hotel and Spa

“Frank McKinney’s personality is as big as the 60,000+ square foot mansions he builds,” said The Institute’s Founder Laurie Moore-Moore. “The story of his life is inspiring and he has many ideas to share about how to maximize one’s success, despite today’s market conditions.  If anyone understands branding, promotion, and how to succeed, McKinney does.”

At age 18, with $50 in his pocket and without the benefit of higher education, McKinney left his native Indiana for Florida in search of his profession. In his first Florida job he earned $180 a week, waking at 4:00 a.m. and digging sand traps by hand on a Deerfield Beach golf course. On May 19, 1986, at age 22, Mr. McKinney founded his first real estate investment company and bought his first $50,000 fixer-upper, selling it a few months later for a $7,000 profit.

Today, Frank McKinney is known around the globe as a real estate "artist," and the creative building force behind some of the world's unique mansions. A true maverick with a charming flair, he is a daredevil in the risky world of speculative high-end real estate.  McKinney is nearing completion of "Acqua Liana," an opulent eco-friendly "green" mansion priced at $29 million and "Crystalina," a $30 million Polynesian green home.  http://www.frank-mckinney.com/estates_for_sale.aspx 

Although McKinney builds new dream mansions, he lives with his family in an historic 3000 square foot home, offices in a 150 sq. ft. tree house, and is committed to his Caring House Project Foundation, a non-profit organization dedicated to creating self-sufficiency by providing housing, food, water, medical support and opportunity for the desperately poor and homeless around the world.

Another current McKinney project is a $135 million spec home, The Manalapan Residence. This three-story 67,670 square foot  home includes 14 bedrooms, 24 bathrooms, an 18 car garage, a 6,140 sq. ft. master bedroom suite, lavish Grand Rotunda room for entertaining, dual water walls, aquarium ceilings and walls, movie theatre, casino and club room with stunning aquarium wet bar, oceanfront gourmet family kitchen, catering kitchen, outdoor summer kitchen, his/her offices, 10 wet bars, two wine rooms (one for red, one for white), gymnasium with beauty salon, two swimming pools (classical lap and grotto waterfall/waterslide), shark tank, two elevators, bowling alley, tennis court with pavilion, archery range, 1/4 mile jogging/go cart track, butterfly gardens, Italian and Floridian gardens, sculpture gardens, citrus orchard, guest house, staff house, back-up generator, full home automation, and more.

“McKinney is a speaker who makes audiences smile, challenges them to be more successful and leaves them wanting more.  His presentation will add excitement and spice to the Leaders in Luxury meeting,” predicts Institute President Waco Moore. “As part of our agreement with Mr. McKinney, The Institute is also pleased to fund the construction of two houses in Haiti through his Caring House Project Foundation.”

About The Institute for Luxury Home Marketing  
The Institute for Luxury Home Marketing trains real estate agents who work in the luxury market and awards the prestigious Certified Luxury Home Marketing Specialist (CLHMS) designation to members who meet strict performance standards. Based in Dallas (TX), The Institute has an international membership. For information about The Institute or about Leaders in Luxury: www.LuxuryHomeMarketing.com.