Prospective homebuyers use a wide range of search terms when trying to find available properties. One term that is often used is "high-end." Luxury properties appeal to a very select audience, so it's essential that real estate agents understand the qualities that truly make a home high-end before listing the property. Marketing a high-end home requires a unique approach. Being able to identify those homes that truly are luxury listings will help you better serve the needs of your clients in the future.
Real estate is all about location. It should come as no surprise that the geographic location of a property is often a determining factor when labeling the listing as high-end.
High-end homes are typically located in close proximity to desirable landscapes. You will find luxury homes nestled in picturesque mountain towns, along the banks of lakes or rivers, and in the heart of popular cities. Be sure to determine how the location of a property will affect its value before listing it as a luxury home.
The size of a home can play a major role in determining whether or not it will be a high-end listing. Most people think of luxury homes as being large and spacious. The more square footage a home has, the more luxurious it is perceived to be.
This doesn't mean that smaller properties can't be listed as high-end, though. There are plenty of small townhomes and apartments in urban settings that qualify as high-end properties.
It's best to evaluate the home's size in relative terms. If a property is significantly larger than the other properties available in the same market, it can probably be categorized as a luxury listing.
The history of a property can play a role in defining it as a high-end listing.
Homes that were constructed by well-known architects, served as significant landmarks for major historical events, or were lived in by a prominent public figure have much more prestige than other residences. The history of these homes contributes to the overall luxuriousness of the properties. A home that is rich in historical prestige is usually considered high-end and should be marketed as such when listed on the real estate market.
High-end properties vary in their architectural styles, construction materials, and amenities. Despite these differences, there are some unique elements that all high-end homes share. The more you know about these defining characteristics, the more prepared you will be to manage luxury listings in the future. Keep these tips in mind when looking for million-dollar property listings near you.