What is Luxury Real Estate?
Luxury Real Estate is a Specialty Service within the overall realm of Real Estate sales. Each geographic area has an average price for single family homes. Customary rules for designation is that if the sales price of a home is twice the local average it is considered High End. If a home is three times the local average it is considered a Luxury offering.
However, there are some exceptions to this general rule. On the Central Coast, the average price per home is significantly higher than those in the Central Valley. A home on the Central Coast that is twice the average price may have the amenities and characteristics that qualify as a Luxury Property.
The Luxury Difference
Selling a home that fits into the Luxury qualification is entirely different than selling a home that does not meet the designation. These homes need to be marketed to an affluent demographic that may not be in the traditional real estate marketing approach.
The Luxury buyer expects extreme attention to detail of the marketing of the home. They are very specific in their desires and tastes and want as much information conveyed to them before they take the time to physically view a property. For this reason, the listing agent needs to have a marketing plan that specifically caters to the affluent demographic. The marketing of Luxury homes often needs to have international exposure as the buyer of this niche specialty is often not local.
At The Shawn Team, our Luxury Division agents have sold Luxury market properties and are continually studying the niche market and practices to best serve all clients.
For more information regarding our Luxury Division please contact: