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 Luxury real estate has many different identifying features, dependent on geographic regions of the world. Primarily it isn't defined by the appearance or physical quality of the home, but by location. Luxury real estate can be defined by views (especially waterfront views), or amenities such as golf, school districts, downtown vicinity and conveniences. One might have a 750 square-foot waterfront home with less than one acre of property, two bedrooms, and one bath; but only due to the location, that house could be worth more than a 10,000 square-foot mansion with ten acres of property. Such a home, although not considered luxury by appearance, may be defined as "luxury real estate" or "luxury property".
In the example above, the first house would be better determined as "luxury property" and the second one - luxury home, hence the 10,000 square-foot mansion would most for certain fit under the definition and category of luxury home or estate. But both homes above, however, should be classified as luxury real estate as they comprise, though partially, the identifying features.
Deluxe realty also carries with it a much serious responsibility for those who produce services to the luxury real estate buyer or seller and that is because the buyer or seller can pay for added services and they expect for performance of service. A luxury vendor expects a real estate agent selling their property to advertise nationally and in some cases internationally in lux print media while an ordinary seller is usually satisfied with rather local advertising. Most luxury buyers think of hiring a real estate agent, who knows how to work with attorneys, trusts and anonymity. They also should search for a luxury agent who has resources at their disposal when needed that non luxury buyers wouldn't expect. Commonly a luxury home buyer will examine the house for several times (perhaps more than 10 if the property is truly an estate), while a non-luxury home will usually undergo one inspection.
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