The Art of Construction

Custom luxury homes are, by design, one-of-a-kind.  

Therefore, when engaging your real estate agent, the representative must understand the uniqueness behind the listing when pricing the property.

“A mistake I see several agents and sellers make is to simply look at recent sales in the neighborhood while doing a comparative analysis,” Darin C. Marques said, founder of the Darin Marques Group, Huntington & Ellis. “That works with production housing, but when you price luxury properties, it’s more complicated.”

Establishing the value of a high-end custom home involves exploring tangible factors such as construction methods, finishes, location, land characteristics, safety features, technology, energy efficiency, and sustainability. 

Knowing and applying these factors enables an agent to price the property correctly.  A correct valuation potentially earns a higher premium for the seller. 

When pricing a property, Marques starts with the location, evaluating attributes such as view, elevation, privacy, and proximity to amenities.

“Determining location values is more than putting a square box around a neighborhood and looking at an average,” Marques said. “There are three highly desirable features that yield a premium - privacy, views, and cul-de-sac location.”

Integrating high-quality construction materials such as enhanced framing, insulation, windows, drywall techniques, and fireplaces adds to the home’s bottom line. Marques cited an example of installing a higher quality window such as Pella instead of traditional aluminum. 

“A lot of agents don’t think it makes that much of a difference,” Marques said. “But an educated buyer, who is savvy about this because they built their own home, understands the cost and long-term value of using high-quality materials.”

Another consideration is the investment into the property’s topography. 

“In several luxury communities, a number of the lots are tiered or double tiered,” Marques said. “The challenging terrain requires extensive earth moving, retaining walls, and soil stabilization to prepare for construction.  This could cost anywhere between $400,000 to $500,000 before going vertical with the home, which adds to the overall price.”

Marque’s customers attest valuing and selling high-end custom homes requires a higher level of expertise. Agents must have a solid understanding of construction methods, materials, and design. 

“I look for a realtor who understands both the local market conditions and the components of home construction that lead to the resultant asking price,” Mark Clark said. “My realtor isn’t just selling a house. They are an integral part of the process. I lean on them for market expectations during the design process and check their feedback during construction. A good realtor keeps their hand on the pulse of all these things.”

Clark recently sold his custom home in Southern Highlands Vintage Valley for a higher premium than comparable properties in the community. This was due to Marques evaluating the quality of construction and integrating the value into the pricing.

“When I decided to sell my home, Darin expertly relayed the ‘behind the drywall’ extras to prospective buyers,” said Clark. “His knowledge of the various prestigious neighborhoods around town validated my location with potential buyers.

“Darin has an intimate knowledge of home construction, meaning he can communicate the unique intangibles of my home to prospective buyers,” Clark continued. “All this, combined with his expert knowledge of my Southern Highlands neighborhood, made Darin Marques the perfect realtor for me.”

According to Marques, an agent's selling style determines either a positive or negative outcome for the seller. 

Agents who take the time to educate themselves on a property, evaluating the location and all the significant underlying components will value the property correctly. 

Agents who evaluate a custom property the traditional way, serving more as an ‘order taker’, puts the seller in a compromised position of accepting a lesser price.    

“At the end of the day, if they don’t understand what they are selling, they can’t articulate why they are fighting for a higher price,” Marques said. “They won't be able to sell it for the higher premium, and it ends up putting the seller in a position to lose money on the property.”

ABOUT DARIN MARQUES GROUP

Darin Marques Group (DMG) is a professional real estate boutique firm focused on delivering unmatched service to the Southern Nevada community. The real estate firm is comprised of a close group of seasoned real estate agents, led by the firm’s President and Founder, Darin C. Marques. Their full-service marketing is supported by the Huntington and Ellis brokerage, an agency established over a decade ago.

DMG provides the highest level of service for those looking to buy or sell their residential property. 

DMG and Huntington and Ellis, A Real Estate Agency have closed more than $225 million worth of real estate transactions and have established themselves as preeminent players in the Las Vegas real estate market.