Real Estate Agents that cater to the Gay community are tapping into a very loyal and above average-wealthy niche.
I recently posted about the spending power of the gay community. As luck would have it I have found even more compelling information about this powerful group.
- Readers of gay newspapers in 10 major media markets have an average individual income of $47,083.00. That is almost more than twice the average of the general population.
- 94% of readers surveyed said they are likely to buy products or services advertised in gay publications.
In 2002, gays and lesbians spent $55 billion on travel; they travel three times more often than heterosexuals, says Robert Wilson, executive director of the International Gay and Lesbian Travel Association.
They're less likely to have children, which means they possess more discretionary income. They place greater emphasis on luxury and they're willing to pay for it. And, when a business shows support for gays and lesbians, they support the business by displaying strong brand loyalty, he notes.
Many Hotels like the MGM in Las Vegas are becoming gay friendly and in fact, some are advertising in gay publications.
Home Builders are ven getting in on the action as RainbowVision
Santa Fe (RVSF) will be the first resort/retirement community
specifically targeted to the gay, lesbian, bisexual and transgender
(GLBT) community, a growing segment of the population, according to Jay
Geisinger, COO of RainbowVision Properties Inc.
"You will see a lot more [of these projects] from us because the demand is unbelievable. And it is not just domestic--we are getting calls from all over the world," he said. "It is something that the GLBT community has looked forward to for many years."
In Realtytimes.com Blanche Evans discussed the Across America Real Estate Network (AAREN), which is run by Mark Kasper, (gay). The site specializes in placing gay and lesbian clients with supportive agents -- gay and straight. His advice to agents is to be aware of gay clients' concerns. Being gay isn't a prerequisite, Kasper says, but you do need to be supportive as an agent.
A "supportive" agent is more than just comfortable dealing with
openly gay clients; it's an agent well-versed in the issues important
to his clientele. For example, what may be a "safe" neighborhood for a
heterosexual customer may be unsafe for a homosexual customer.
Kasper further cautions that urban art communities won't appeal to every homosexual client. A substantial portion of gay homebuyers are interested in suburban communities; that market is approximately 75 percent female and 25 percent male.
Another thing to remember that I have found in my research is that gays tend to favor extreme loyalty to advertisers in gay publications.