Ask a Realtor: A ‘legacy’ or ‘trophy’ property tells a story (column)
Ask a Realtor
When does a “luxury home” become a “trophy home” or a “legacy property”? Does each moniker indicate a different price range? Are they all actually the same and interchangeable?
I have been looking online on various websites and at advertising in the Vail Daily, but I have not found a common denominator to explain and give definition to the terms. I guess I am looking for a luxury home, but the terms “trophy” and “legacy” almost make me feel as if the home is more a show piece than something you would really want to live in.
— Just Curious
What an interesting question. I guess I would say, in a way, both of your guesses are correct, even though they contradict each other. Actually, just as “beauty is in the eye of the beholder” the titles of the luxury home, trophy home and legacy property are in the “story” of the seller’s Realtor.
Yes, all three terms indicate a price range of a minimum of $2 million. And, yes, all three terms indicate superior craftsmanship, special finishes, good location and usually exceptional views and/or privacy. To me, the different terms come from the story the seller’s broker creates around the property … and that is very important.
Although many people believe the purchase of a home or second home is a decision of the head, it actually is very much a decision of the heart. The heart wants to know everything interesting, special and important emotionally about the home and property. A great (not just good) Realtor will show the home and unwind the story to make the property become so special and unique that you will follow through the rooms and exterior waiting to hear what is the next exceptional facet of the home.
We have many Realtors who are able to highlight the many beautiful features of these luxury properties and tell fascinating stories. The various terms you asked about are used to try to entice you, certainly not to trouble you in any way.
As always, my advice is to find a knowledgeable Realtor you like and trust and let him or her lead you through the maze of properties available so you can find the one property that will let you create a story you will love to tell. Best of luck to you.
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years. Contact Harned with your real estate questions at firstname.lastname@example.org, 970-337-7777 or http://www.skiandteehomes.com.