Are you looking to move into luxury real estate? You might be thinking: same thing, higher price point. Sales is sales. However, aside from the price tag, there are some other subtle distinctions that savvy real estate agents should know before jumping into the high-end market. Here are six differences between selling luxury and midrange real estate. 1. Public open houses aren’t effective For midrange homes, open houses can be an effective marketing tool as part of a broad strategy. Open houses maximize the number of people who can see a home and alert passersby that the home is for sale. In the luxury market, an open house for the public doesn’t attract the likely buyers for the property. A broad cross-section of the public is not likely to be able to afford the house, for one thing. Also, the homes are often notable and unique. As a result, a public open house may attract people who want to see the house up close, not those who can afford it. Private networks are o…
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