Differences From Ordinary Real Estate
Luxury real estate entails greater responsibility for agents who handle transactions than ordinary real estate. They must advertise to a national audience to attract non-local buyers, whereas ordinary real estate only generally requires exposure in local media. There are also greater legal responsibilities for the luxury estate agent, which often involve attorneys, trusts, and anonymity issues. Buyers often require more inspections than with ordinary real estate (which are generally bought after a single inspection).
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