Luxury, Actually: A Fresh Perspective for Today’s Real Estate Advisor

In real estate, the word “luxury” gets used often — but understood rarely. It's time to rethink what luxury really means in today’s world of global wealth, personal values, and ever-evolving buyer expectations.

At Engel & Völkers, we’ve been listening to leaders across luxury real estate, private aviation, and lifestyle media to understand how the definition of luxury is shifting — and what that means for the real estate agents guiding high-net-worth clients.

Here are the five most important takeaways:

1. Luxury Is More Than a Brand Name

Forget the logo-driven view of luxury. Today’s affluent buyers care more about authenticity, association, and personal resonance than about brand recognition.

“Luxury is not necessarily just a recognizable brand like Dior, Bulgari, or Gucci,” said Riki Altman-Yee, Editor-in-Chief of Modern Luxury Austin Way magazine. “We define it using ‘PARA’ — price, association, reputation, and authenticity.”

For real estate agents, this means it’s not enough to showcase expensive finishes. Instead, demonstrate what makes a home distinctive, meaningful, and aligned with your client’s identity.

2. Time and Privacy Are the Ultimate Status Symbols

Modern luxury buyers aren’t necessarily seeking flash — they’re looking for efficiency, privacy, and peace of mind. Whether that’s skipping TSA lines or entering their home through a private gate, discretion and ease are powerful differentiators.

“I look at luxury as the best of the best — that one thing that allows you to escape from the day-to-day,” said Eric Hopkins, Executive Vice President of MediaJet, which engages private aviation travelers at over 350 U.S. airports.

Luxury, then, becomes less about materialism and more about creating the feeling of sanctuary and freedom.

 

3. Tone and Voice Matter More Than Ever

Luxury is also about knowing your audience — and knowing how to speak their language. A buyer in Palm Beach expects a very different tone than a buyer in Austin or Vancouver.

“I was raised in Palm Beach and now I’m in Austin,” Altman-Yee said. “The definition of luxury is entirely different in both markets. Every editor — and every real estate agent — has to speak to their audience.”

Real estate agents should match their messaging not only to the price point, but to the cultural context of their market.

4. Generational Flexibility Is a Competitive Edge

Luxury buyers are getting younger — and their expectations are more fluid. That means messaging and brand positioning can’t be one-size-fits-all.

Altman-Yee emphasized the importance of “brand elasticity” — the ability to evolve and remain relevant without losing your core identity. “We’re constantly finding new ways to speak to new generations,” she said, “while still retaining the readers who’ve been with us for years.”

Real estate professionals who embrace this duality — heritage and innovation — are the ones who will thrive across demographic shifts.

5. Differentiation Is the New Definition of Luxury

Above all, buyers and editors alike are looking for properties that stand out.

“To make my eyes open wide, a property has to have something really spectacular,” said Altman-Yee. “Maybe it’s a bed suspended from the ceiling or a bunk room that sleeps nine kids. Differentiation is the key to luxury right now.”

In today’s crowded high-end market, being “beautiful” isn’t enough. Real estate agents need to identify and articulate the specific elements that elevate a property from desirable to unforgettable.

 

A Final Thought: From Transactional to Transformational

“Luxury,” said Laura Monroe, Chief Innovation and Strategy Officer of REALM, “is the ability to have a very high standard of excellence from a luxury ‘advisory-ship’ perspective.” It’s not just about property — it’s about privacy, trust, and elevated service.

Monroe also believes that the real estate industry often misunderstands luxury by staying within its own echo chamber.

“If you’re thinking about high-net-worth and ultra-high-net-worth individuals,” she said, “you should be reading what they’re reading — you should be reading Barron’s and other publications like that to learn how they think and what they want.”

In other words, the best real estate advisors don’t just market listings — they think like their clients, offer genuine insight, and provide a level of advisory service that aligns with their clients’ worldviews and expectations.

As the luxury space continues to evolve, the ability to adapt with empathy, sophistication, and strategic intelligence will set the most successful professionals apart.

Ready to Elevate Your Luxury Advisory Experience?

At Engel & Völkers, we don’t just talk about luxury — we define it. Our global network of real estate professionals is backed by world-class marketing, specialized training, and access to discerning clientele who expect nothing less than excellence.

Whether you're already immersed in the high-end market or looking to grow your luxury presence, we offer the tools, insights, and brand power to help you thrive.

Explore what it means to work with Engel & Völkers.