Luxury Homes
Are Targeted to a Certain Buyer
Who actually buys the luxury home? They can be seen just about everywhere and the advertisements often showcase beautiful backyards, sparkling pools, and spacious bedrooms etc. While there is no one definition that describes exactly how these luxury properties are different than others, all houses in this category tend to have certain things in common.
Cost
It makes sense that luxury homes are more costly that some of the others on the market today. Because of the size of the property or the house as well as the different features, the price tag is usually much higher. Only consumers in the highest socioeconomic groups tend to be interested in these types of dwellings. As a general rule, these properties tend to be appraised at $1 million dollars or over.
Special Amenities
There is a real difference between having a pool in your backyard and the luxury homes that have pools in the backyard. The amenities are often what set these residences apart from some of the others available. Some are located on or near golf courses. Some have a large expanse of land that is well planned and landscaped. Others are located right on the water and have views beyond compare. This tends to make the value of luxury homes an interesting dilemma. It is possible that a smaller home next to the water could be worth more than a larger home out in the middle of the desert. Location truly matters when it comes to these types of places.
Different Audience
When a real estate agent looks for buyer for ordinary real estate, the focus tends to stay local. It makes sense that someone that lives in the area will buy as opposed to someone on the other side of the country. On the other hand, with luxury homes, it is important to advertise nationally. Buyers are not just found around the corner; they can often come from anywhere around the world.
This means that the advertising campaign is of the utmost importance. The photos must be clear and the explanation of the property must be thorough. A person needs to know what he or she is getting into in order to travel a long distance for a viewing. In some cases, a realtor must be ready to deal with lawyers, accountants, and financial planners along the way as people with this much money often seek out advice from a variety professionals.
If you are in the market for these types of luxury properties, either buying or selling, it is important to find just the right realtor / real estate agency to work with. Look for someone that has experience in this area and someone that will be able to reach a large audience.