Magnetic materials have several key properties:
1. They can attract or repel other magnetic materials due to magnetic dipole moments within the material's atoms.
2. Materials have a magnetic moment and magnetic susceptibility that determine how strongly they are magnetized in response to an external magnetic field.
3. Different types of magnetism (diamagnetism, paramagnetism, ferromagnetism, antiferromagnetism) arise based on how the atomic magnetic dipoles interact with each other and external fields.