Agents at HomeSmart brokerages throughout the country have gotten listings for current and former celebrity homes. From Bing Crosby’s former California residence to actress Taraji P. Henson’s Chicago high-rise condo, dealing with celebrity buyers and sellers requires more expertise from the agent to get to a successful closing. We’re sharing five tips for working with notable buyers and sellers.
To Be, Or Not To Be Discrete
The first thing agents will need to know is if their high-profile client wants to keep a low profile of the sale or use their celebrity to promote it. This will guide how and where the home will be marketed. In some instances, it may be best to list the property under an LLC or trust in order to avoid disclosing the client name.
Famous vs. Infamous
When it comes to celebrity, there’s a difference between famous and infamous. Depending on who the elite owner is, the name of said person or a scandal relating to the property can impact the sale of a home. Be thoughtful of how you choose to market the listing.
No Personal Matters
If you choose to sell without using the owner’s name to influence, make sure to strip the home of all personal details like photos, awards or anything else that can identify them. This way your client’s identity can remain concealed.
Be Exclusive
Another thing that needs serious consideration is how the home will be shown. Being that many celebrities prefer to be private, consider making potential buyers jump through a few hoops in order to gain access to the property.
Consider enforcing scheduled appointments to view the property so the agent (or some other trusted source) can be sure to be present. A high-profile owner may also want to see proof of funds or a pre qualification letter from a lender on the buyer side prior to allowing access to see the home. This is to show that the potential buyer has the means (at least on paper) to purchase the home. This helps weed out the people who enjoy walking through high-value properties with no intention of purchasing. Unfortunately, this is common for high-end properties, not only for properties with high-profile owners.
Sworn to Secrecy
Once potential buyers are cleared to view the home, celebrity sellers may require non-disclosure agreements to be signed in order to ensure that the happenings in their home are not discussed.
If you find yourself working for a high-profile buyer or seller and would like more information about how to handle your client’s needs, contact your broker for support.