The key thing in the message is "standard shares". Hit tab to prepopulate the -share-properties and append homedirectory to the property list. Then you should see a prompt similar to this:
Cluster1::vserver cifs*> share create -share-name CIFS.HOMEDIR -path %w -share-properties oplocks,browsable,changenotify,show-previous-versions,homedirectory -vserver svm1demo
Warning: The home directory share's name "CIFS.HOMEDIR" does not contain a substitution value (%u or %w) to uniquely identify a home directory share. If multiple users from the same client access their home directories at the same time, unprotected access to each other's files can occur. This might cause unexpected "access denied" errors on those files, and data corruption within those files. Note: multiple users from a single client is most likely in a Citrix or Windows Terminal Services environment. Do you want to continue? {y|n}:
Note the warning. This scenario can occur if multiple users connect from the same OS instance, such as a terminal server.You may not want to turn this on in a citrix environment.
You'll also need to setup your search paths and qtrees or directoriees for the user home if you have not already done so.