Luxury Properties marketed at their Best

---

The problem – at least when it comes to determining a list price and a marketing plan — is that there is not just one difference, but many, and they are vast.

The average agent is more familiar with pricing property number one, and that’s because there are thousands of comparables. How many comparables do you think you’ll find in the area surrounding property number two?

So, how do I personally come up with market value for the luxury property? 

The first rule of pricing luxury property is to know everything there is to know about every home in the neighborhood. I make a point of viewing every new luxury listing that comes on the market. 

Now when I'm pricing the property, I’m not just looking at comparables on paper. I have actually been through each house and I know the layout, I know if there’s a telephone pole blocking the view, and, most important, I know and make note of each home’s amenities. Because, despite the fact that these properties aren’t identical, each home’s amenities factor into the formula for determining the market value of luxury property.

Luxury property marketing also requires knowing the audience

Marketing to the affluent home-buyer takes a lot more than a mere mention of a chef’s or gourmet kitchen. Understand the brands that ring their chimes, such as Crestron, Miele, Philippe, Downsview and Wolf. Highlighting a home’s branded features speaks to the home-buyer who identifies with that lifestyle.

• International and domestic buyers are entirely different- from culture to, possibly, language and distinct sets of desires in a new home.
• The first-time high-end property buyer will present different needs and wants than the seasoned buyer.
• Some luxury buyers come with an entourage of decision makers, from lawyers to accountants, while others may be flying solo.

Knowing all the possible audiences for luxury home marketing is one thing. Knowing which audience to target for a particular listing is something that takes experience.