Establishing the correct price for your home when you first put it on the market has even greater importance if you are selling a million-dollar-plus property.

Buyers who are shopping in a high-end market are likely to be well educated in real estate protocol, and well aware of how other properties are priced.

If a luxury home is overpriced by a quarter of a million dollars, a qualified buyer will probably look elsewhere, or wait for you to drop the price.

What features can legitimately push the listing price to the top of its range? Generous square footage in the house and on the lot, a glorious view, lakefront or oceanfront access or a glamorous history all add up to a winning listing.

The amenities must be equal to or better than those of neighboring homes in the same category.

According to industry research, the most popular luxury home amenities currently include super security systems, gourmet or designer kitchens, home theaters, topiary landscaping, hot tubs, swimming pools and boat docks.

Escalating utilities costs make energy-efficient homes very attractive.