You've just taken your first million-dollar-plus listing. After celebrating your victory over the area's top luxury agent, reality will no doubt begin to set in. If you don't know the first thing about marketing high-end properties, you may wonder what you've gotten yourself into.

You may panic.

But, you're a pro and you'll do what all pros do – lots and lots of research.

Unique Challenges

Many established luxury agents recommend that the newbie get his or her feet wet by working under a top-producing agent who deals with high-end properties. The unique challenges of pricing, marketing and dealing with the parties are many and varied – not something one should tackle without experience.

If you've already taken the listing, you may want to consider cutting your office's luxury home specialist in on the deal so you can learn as you go.

Let's take a look at some of the unique challenges you'll face with your first luxury home listing.

Pricing Luxury Homes

Luxury homes are not tract homes. They aren't mass-produced by a single developer. They are typically architecture-designed and custom built.