5245 Idylwild Trail, Boulder This two-story home backs up to the 7th hole of the Boulder Country Club’s golf course, with mountain views from many rooms. A 600-square-foot main level master suite features views of both the golf course and mountains, as well as a private deck. Other highlights include the bright, open floor plan, an oversized three-car garage and a fully-finished lower level, all situated on a spacious third-acre lot with mature landscaping. > For more information, visit 5245.wkre.com.
1719 Mapleton, Boulder This Whittier neighborhood home sits privately above Boulder’s iconic Mapleton Avenue, just three blocks to the heart of downtown Boulder’s Pearl Street Mall and a short walk to neighborhood schools and the University of Colorado. The styling is both timeless and comfortable with rich, warm colors. The main floor features a sun-filled study with built-in shelving, an inviting living room with a fireplace and a dining room with an easy flow to a shaded patio. At the rear of the lot is a studio with a kitchen, bath and two offices. > For information, visit 1719.wkre.com.
It’s a well-known fact that not all real estate is created equal. The luxury market—usually defined in the Boulder/Broomfield area as a listing priced at $1 million or more — has a very niche clientele. These buyers and sellers not only have the financial means to afford such properties, but they also have very specific criteria for homes they want to purchase. Whether it’s a buyer looking for a special new space, or a seller with a sizable asset they care about, WK Real Estate understands the delicate nature of luxury real estate. “Luxury properties will appeal to a different type of buyer than your average home,” says Dan Kingdom, president and owner of WK Real Estate. “The pool of buyers in the upper price ranges is a smaller one, and they need to be targeted with specific intention.”
The $1 million mark isn’t a hard line for luxury listings, explains Kingdom. Some townhomes and condos that cost closer to $800 or $900 thousand, but boast an excellent location or elegant finishes, could be considered luxury listings. Fixer-uppers are an exception on the other end of the spectrum. “Conversely,” says Kingdom, “there are some properties in the $1 to $1.5 million range where the value of the property is primarily in the land and location and not in the existing structures. Those types of properties would not be considered ‘luxury’ from a marketing standpoint.”
It is not only the clientele that are different when it comes to buying and selling luxury properties — the transaction itself is different, too. The high price of these properties comes with complications, and the buying and selling process is often more tangled than with homes in lesser price ranges. “Finishes, furnishings, systems, hardware, materials used, accessory buildings, lot size and location — a different level of knowledge and education is required to first understand and then effectively market these properties,” says Kingdom.
While the needs of these listings tend to be different, WK Real Estate understands that all successful real estate transactions begin with the same simple step: listening. “Our clients’ needs, goals and timing are paramount and supersede all else,” says Kingdom. “When working with buyers, it’s our job to follow their desires, on their timeline, and then guide them through the home selection and purchase process only when they are comfortable. At all times, we are their advocate.”
WK Real Estate associates present clients with all of their options, which can be especially plentiful when it comes to a luxury listing. The company empowers clients to be decisive and confident in real estate transactions. This philosophy carries over to those who are looking to sell, as well. “For our sellers, the single most important factor is ensuring that they are comfortable and able to make sound, quality decisions,” says Kingdom. This was the experience of Bart Macgillivray, who recently purchased a home in Niwot through WK Real Estate and is currently selling his previous home with the same WK associate, Chris Haught. “In order to sell the house, Chris had a list of things he wanted to see done to make it as marketable as it could be,” says Macgillivray. “WK Real Estate doesn’t put it on the market until they’ve done as much as they can to bring a high return back to the homeowner who is selling the property.” Macgillivray adds that Chris provided connections to a team of talented craftspeople who helped the home shine. “He had people who did staging, painting, landscape work — all at fair prices because they work with him a lot,” says Macgillivray. “That was an added benefit.”
1302 Baseline, Boulder For sale for the first time since 1976, this classic, Tudor-style estate is located just down the street from the iconic Colorado Chautauqua National Historic Landmark area and park. Originally built in 1936 and designed by Glen Huntington, the home features an added carriage house and detached garage on a lot surrounded by mature spruce trees. > For information, visit 1302.wkre.com.
Another benefit provided to sellers by WK Real Estate is a carefully thought-out pricing strategy, individualized for each home, which leads directly to a customized, multi-step marketing plan. “Our WK marketing plans utilize an intentional mix of online media tools and traditional marketing channels to position our clients’ distinctive properties to receive maximum exposure,” says Pam Metzger, vice president corporate services and relocation. “Every property listed with WK Real Estate, whether considered luxury or not, benefits from an impressive array of digital, print and other marketing options.”
For luxury listings specifically, sellers reap the benefits of WK Real Estate’s status as a founding member of Luxury Portfolio International. Luxury Portfolio International is a network of the world’s most experienced and respected experts in luxury real estate. “This valuable affiliation provides WK Real Estate with key channels to market and promote our luxury listings to a global audience,” says Metzger.
Luxury Portfolio International provides sellers with access to some of the most affluent buyers in the world. WK Real Estate converts at a rate of 73 percent when they work with referrals from this network.
“By listing with WK Real Estate, our clients increase their chances of not only attracting a qualified buyer, but also bringing the buyer and seller together to a mutually beneficial result,” says Kingdom. “Our affiliation with the exclusive members-only Luxury Portfolio International network gives us that essential global reach that most other local franchises and firms don’t benefit from. First, we are local. But we are also global, and that is the best of both worlds!”
> WK Real Estate, 4875 Pearl E. Circle, Suite 100, Boulder; 2101 Ken Pratt Blvd., Suite 100, Longmont; 303.597.8430, wkre.com
By Emma Castleberry. Photos: WK Real Estate
