Luxury home buying is a unique segment of the real estate market. It is essential that luxury home buyers align themselves with real estate professionals who specialize in the upper-tier marketplace and are familiar with the special needs of luxury home buyers. Not all agents can operate effectively in the luxury market. Below are guidelines for selecting an agent in a luxury home purchase.

1. Market Expertise – It is critical that the agent selected has extensive knowledge in the local real estate market and the price range targeted. A luxury home expert should be knowledgeable in all phases of the upper-tier market - amount of inventory, sales, days on the market, etc. Effective agents stay on top of market conditions and actively seek information that will be beneficial to luxury buyers. The more knowledge an agent has in the luxury home market, the bigger the asset they can be to their affluent clientele.

2. Experience – Understanding value in the luxury home market requires experience. A proven track record of closed sales in the high-end marketplace is a strong indicator of market savvy. Although new agents can provide excellent service, high-end buyers are better served enlisting the services of a luxury home expert. Experience luxury home agents are uniquely equipped to handle the sometimes complex needs of elite clientele.

3. Education & Designations – Top agents in the luxury field continually expand their knowledge. Designations such as the “Certified Luxury Home Marketing Specialist” are indicators of those agents that provide the level of service luxury home buyers demand. Members of these types of organizations must meet strict performance and education standards.

4. Communication - A good luxury agent will work with buyers to crystallize their goals and understand their needs. By developing a checklist with a clear set of goals and expectations, buyers will not waste their time on luxury properties that do not meet their wants and needs.

5. Negotiation skills - There are many aspects that comprise a successful luxury real estate transaction for a buyer: price, conditions, dates, terms, conditions, etc. A successful luxury real estate agent is seasoned in the art of negotiation.

6. Contacts – Agents that specialize in the upper-tier market have developed relationships with experts in the luxury home market. Below is a partial list of resources that luxury home agents can recommend.