Living in The Platinum Triangle Real Estate
The Area Boasts 4 Country ClubsThe Los Angeles, Beverly Hills, Wilshire, and Bel Air), several world-renowned hotels (The Montage, The Luxe, The Peninsula, The Beverly Hills Hotel, Hotel Bel-Air, and The Beverly Wilshire is known for the iconic film “Pretty Woman.”), and amazing restaurants (there are so many, including Grill on the Alley, Bouchon, Spago, Mastro’s, and Mr. Chow’s). Needless to say, the Platinum Triangle Exudes luxury in Loss Angeles real estate, as Beverly Hills and 90210 are synonymous across the world with extravagance. Buyers always like to have Homes like this because the rich want to live here. There are not many places in the world that tout as many real estate crown jewels as Beverly Hills, Bel-Air, and Holmby Hills. Unlike other luxury neighborhoods worldwide.
The Platinum Triangle in Loss Angeles OffersLush, pastoral grounds and sweeping city or ocean views at a price point that is still not in the top 10 in the world as far as priciest cities. Also, as the film and entertainment capital, greater Los Angeles has the advantage of being an international destination. The field of luxury properties in Loss Angeles real estate could be a great bargain for wealthy foreign buyers thanks to the American economy’s stability and foreign exchange. Couple all these items together, and you have a unique luxury home market of Loss Angeles real estate. Still, that does not sell these quiet luxury homes themselves without the input and tips from a Los Angeles real estate agent. There are only so many people in the world that can afford to buy a $5, $10, $50, or 100 million dollars home. When selling such a unique property, what concepts and best practices are used that differ from selling a more modestly priced home, especially in Loss Angeles real estate? What does a luxury seller like Hugh Hefner do differently when selling the playboy mansion (sold in 2016 for $100 Million, the top sale in the US)?
How about a Middle Eastern sultan or list Celebrity?Some of these principles will apply to home selling in general, but most will be reserved for the one-of-a-kind, ultra-luxurious like in Los Angeles real estate. Below are the major differentiators to selling a luxury property that, if used effectively, will bring rousing success.
SECRET #1:PROFESSIONALIt is essential to pick the right person for the right job. Doctors, for example, are considered experts in medicine and health. If you are not feeling well, would you really trust your cousin to start rifling around your body, who might have watched many YouTube videos and read articles online? If the answer is yes, I can’t help you. If the answer is, “God no, she isn’t getting anywhere near my blocked artery,” we are on the same page then. For the ultra-luxury, practical and working knowledge of such critical information such as the number of sold, active, and expired luxury homes on the market in the area, the average number of days it takes to sell a luxury home, the overall absorption rate (amount of time it takes the market to “absorb” a home from active to sold), and the ideal target buyer market are critical to success. As the saying goes, “The loftier the building, the deeper must the foundation be laid.” And this is where the real estate agent in Los Angeles comes to your rescue to offer you all the information you need.
SECRET #2 LIFESTYLEThough a home is being sold, in reality, home buyers in this rarefied air buying a lifestyle in Los Angeles real estate, as in Maslow’s hierarchy of needs, no one “needs” a $47 million home. Like a 12-car garage, views of the Pacific Ocean, or a 30-person theatre room, this is a want. Understanding that you are selling lifestyle positions your marketing to succeed. As an example, our firm may host galas at homes for hundreds of people, complete with yachts, Bentleys, and helicopters. For different properties, we may have a sommelier in the wine cellar giving tours of the vintages in stock, an art curator showcasing various artists or a musical or runway fashion performance in the great room on the grounds. The party showcases the profile of the house and all it has to offer.
SECRET #3: VOLUMEAs marketing plans are created and implemented, luxury homes require sellers and real estate agents to turn up the volume!!!! Sticker shock pricing, loud, in-your-face public relations, and over-the-top marketing and advertising will bring the type of exposure essential for an ultra-luxury home. As an example, there were several components of the Playboy Mansion sale in 2016:
- The home was listed for $200,000,000, though this was later explained as a marketing ploy to get exposure. As mentioned, the home sold for 12 that amount.
- With a price so high, the press worldwide gave free exposure by publicizing the planned sale everywhere.
- Lifestyle video tours were created and given to the press and general public to show the estate’s uniqueness, including the zoo, world-famous grotto, and pipe organ.