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Beverly hills real estate agent | Erik Brown | Realtor Agency

Beverly Hills luxury real estate | Erik Brown

  • HOME SEARCH
  • NEIGHBORHOODS
    • Beverly Hills
    • Beverly Park
    • Beverly Hills Flats
    • Bel Air
    • Brentwood
    • Birds Streets
    • Holmby Hills
    • Laurel Canyon
    • Malibu
    • Mount Olympus
    • Platinum Triangle
    • Pacific Palisades
    • Rolling Hills
    • Sunset Strip
    • Trousdale Estate
    • Wilshire Corridor
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Beverly hills real estate agent | Erik Brown | Realtor Agency

Beverly Hills luxury real estate | Erik Brown

  • HOME SEARCH
  • NEIGHBORHOODS
        • Bel Air
        • Brentwood
        • Holmby Hills
        • Malibu
        • Trousdale Estate
        • Sunset Strip
        • Beverly Hills
        • Beverly Park
        • Beverly Hills Flats
        • Birds Streets
        • Wilshire Corridor
        • Laurel Canyon
        • Mount Olympus
        • Platinum Triangle
        • Pacific Palisades
        • Rolling Hills
  • COMPASS TOOLS
    • Bridge Loan
    • Coming Soon
    • Private Exclusive
    • Concierge
  • GIFTS
    • Home Buyers
    • Home Sellers
    • VIP
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    • Erik Brown
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Foreclosure Moratorium Expiration

6 Steps to Buying a Luxury Property in Beverly Hills

By

Erik Brown

Posted in Video Blogs On March 29, 2021

6 STEPS TO BUYING A LUXURY PROPERTY

I’m going to share with you some of the differentiation that is involved when looking to purchase a luxury property and what that looks like compared to buying a regular or starter home and there are several steps that you’re going to want to consider.

The first thing that I want to offer you to establish is a great search process. You want to define how it is that you’re going to find these types of property oftentimes, they’re not even on the market. They may be pocket-listed. So make sure that you have MLS access and internet-based access and access to the private network of properties through a variety of sources and those sources we will get into in a sec. Hence, the search process is number one.

Number two is making sure that you’re finding the right set of reliable photos, oftentimes with a luxury property; it’s not just one building. It might be several it might be estates there might be grounds involved there might be amenities that are difficult to photograph a helicopter pad a vineyard, a multi-car garage all of these things will require a different lens with which to look so the more photography that we get access to the better a lot of times with luxury property there won’t be as many photos based on privacy and will want that access to upfront to make sure that this home will match the needs that you are looking for so that is step number two.

Step number three that we want to find is making sure that we have the right documentation types. There’s a standardized purchase agreement that we can use. Still, all of the upgrades that could happen with a property if there’s work that has been done recently on renovations or additions or new buildings will want to track that there is appropriate permitting involved. All of the other crossings of T’s and dotting of eyes that will be handled in a typical real estate transaction and the requirements I’m saying luxury luxurious and much larger than will be point number three.
As we touched on earlier, point number four is going to be finding the right team and the right advisors with luxury property. There’s a complexity that doesn’t exist in traditional transactions. So there can be a real estate agent that will also work exclusively with a family office, a financial planner, a corporate attorney, or a family trust. Several things can be involved, so having the right team in place and having them all know and work together well Kiri itself in spades and make the transaction that much smoother.

The next step we’ll move on at this point is to look to the future and knows that in buying a luxury property, oftentimes it won’t just be appraised like a standard home because there’s no inventory like it. It really can be like a snowflake and extremely unique, and so you’ll want to take advantage of trying to find this concept of looking into the future and making sure that that asset will continue to gain value and that there is another like-kind comparable in some way or another to be able to work off.

Last but not least knowing that this property is a snowflake will take us into our last step, which will often be there is room to negotiate. I have found that properties will be listed for 30, 40, or 50 million that might sell for 10 or 20 plus percent lower than the asking price or even more. This is millions of dollars of discounting that can be done in the way that is through effective negotiating, which is much different than a typical transaction.

There are several other tips and trends that we can share with the luxury property, but we at least wanted to give you a start to know some of the differences and, as always, as a resource, if you are looking to buy or sell a home. If you’d like to find out what your home is worth, or you’d like to find out what else is on the market, please do click on our links below.

Erik Brown Realtor

Realtor/ Broker (BRE: 01958545)

Beverly Hills: 424-239-6519

Minneapolis: 612-294-0447

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6 Comments

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About Erik Brown

Erik Brown realtor

Hilton, Rolls Royce, Versace Chateau Rothschild

These are not products or services; these are lifestyle choices. You and I can stay at any hotel, drive any car, wear any shirt, or drink wine…
But we don’t want to. We want experiential luxury. And you know what? You deserve it.

Luxury living is a state of mind. If you’re like me, you expect the best, especially when you buy or sell a home in Beverly Hills.

If you are interested in buying or selling a home and appreciate… and deserve… a luxury real estate experience, then click here. Get an idea of the differences.

Enter your contact information below and let us know if you’d like a complimentary VIP package sent to you asap.

Erik Brown / DRE: 01958545
Compass
9454 Wilshire Blvd, Beverly Hills, CA 90212
Los Angeles real estate blog

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ERIK BROWN
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Equal Housing Opportunity In Beverly Hills Real Estate
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All material presented herein is intended for information purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. All property information, including, but not limited to square footage, room count, the number of bedrooms, and the school district in property listings should be verified by your own attorney, architect, or zoning expert.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate.

Erik Brown, Realtor, Compass, DRE: 01958545. All Right Reserved

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