Celebrities and Real Estate

Recently I had the opportunity to rent my condo in St Thomas to a celebrity. I was asked by the individuals management to allow the celebrity to stay there for no cost. I agreed because I thought it was a cool thing to do, but they would not allow me to use their likeness or images to promote my property so there was really very little benefit in it for me. I did however receive an autograph picture and thank you note from the celebrity which was very nice.

My principal home is in Berks County Pennsylvania. We recently had a movie actress living in our community for the past seven years or so. Her home sold in just a few days for a premium price! What is the price that someone will pay for the bragging rights of saying this was the home of________ , or a movie star lived here. In this case the buyer paid $100,000 more then i feel it was worth!

Several years ago I sold a spectacular estate owned by a famous name in the business community, I would be willing to bet that the reason why the buyer purchased the property was for the bragging rights of entertaining in the same room that hosted many notables over the years while the home was owned by the famous family.

I read in a news report that Cher purchases homes, remodels and stages them with her personality and resells them for huge profits as a business venture, a profitable one I might add. To add the publicity of a Cher owned residence can add hundreds of thousands to even millions of dollars to the price.

Most of the real estate in California is handle by a few Brokerage well connected to the entertainment industry such as Fred Sands of Beverly Hills Ca. As part of the marketing and working with celebrities is an iron clad non- disclosure confidentiality agreement is added to your buyer and seller agency paperwork. So the Brokers handling the sales can not benefit from the bragging rights just their bank accounts from the big commissions they can earn from the transactions.

One of my vacation homes is part of a condominium association where a major television personality, comedian who earns millions of dollars a year is on the delinquency list. Why do they feel that they above everything else. Probably because we put then on pestals.

At the NAR Conference in Orlando, there was a push for Realtors to cross borders and earn commissions through marketing/referral arrangements with Global partners.

I connected my firm with a development company who also is one of the largest Chateau Brokers in France. They invited me to France this past December for a World wind adventure and exploration of the Rich and Famous and the homes they own in the French countryside . I previewed a Castle owned by a royal family who felt that I should market to Tom Cruise .The property was secure and private and in France the Government prohibits anyone from flying over a Castle, Chateau or historical structure with out written permission which gives the owners the ultimate in privacy once you are behind the gates. This is probably why Brad Pitt recently purchased a Chateau in the South of France.

Now for the challenge how does one get the information in a tasteful way to Tom Cruise. Well in my case I handed it to him in person. Tom was being interviewed at the New York Times on Dec 17 in NYC. The event was open to a limited ticketed audience as part of the Times Talk which is similar to the Actors Studio that is telcasted on Television. After the event there was a meet an greet and I had the opportunity to talk with him and hand him a jump drive with power point presentation about the offering. He was very gracious and took the information and told me he would look at it when he had time. Who knows if anything will come of it, but if you don't try you will never get anywhere. It just takes one Chateau to sell, and I will make enough referral commission to own my own Castle so its better odds then the lottery.

So Celebrities are a rare breed we love them in the movies televison or sporting events. Because they are idolized they can get way with alot, which can frustrate us, but there is not one Realtor who I know who would not want to have the opportunity to work with one and earn the big comissions!