Be protective
When you’re working with celebrities and athletes, it’s essential that you treat the client and their money as if it was yours. Even though they may have mega millions, don’t assume a property’s condition won’t matter, even if they appear to have unlimited funds to redo it.
TAKE THE INMAN INTEL SURVEY FOR AUGUST
You don’t know their true financial situation, and to whom much is given, much is expected. Many of these clients are supporting their families and, potentially, others involved in their life. Be candid about what may be a better investment vs. something that isn’t. If you notice what looks like some potential problem areas with the property while touring it, tell them about it.
Come with proposed solutions, not just problems. Explain how things you see could be addressed and the ways you could work through that in a negotiation. Describe the resources you have to work through any needed repairs and renovation.
Discuss whether there are any areas you would encourage the athlete or celebrity client to focus on vs. areas that may be less desirable for resale. This is where you need to showcase your expertise in a straightforward manner, just as if you were advising your own family member.
Be honest and real. Don’t sugar coat or minimize anything that could be of concern. They are relying on your insight as the local market expert — someone who understands the nuances better than any online listing could ever describe.
In addition, they have a lot of “noise” in their head, with their entourage giving them lots of opinions. It may be overwhelming and cause them to shut down. Create a safe space to think through everything.
Be available for them to reach out to and talk with about what they are considering. Help them flesh out the pros and cons of their top choices. Don’t push them in one direction or another; advise them, but let them decide.
Be proactive
I cannot overstate this enough. Of course, with any clientele, you need to be prepared, but with this type of buyer or seller, you need to be overprepared for every eventuality.
They may pivot themselves to something completely different vs. what was originally discussed. You need to gather as much information as possible about the properties, areas and neighborhoods you are discussing, and go the extra mile without being asked.
In the case of one of the athletes I most recently worked with, he was traveling back and forth for team meetings and practices during offseason team activities and was in town three days a week. His wife and family were located on the other side of the country.
I took it upon myself to create videos of all of the gated communities they were considering, so she had a sense of context beyond just how the home looked online. I drove through each one, talking about it from entrance to exit, and went past the properties that were for sale or rent that they were considering.
I sent all these videos to them through a shared drive on Google for ease of access. The wife really appreciated my efforts, and it went a long way in earning her trust.
Be prepared
Talk to agents with current listings and those that have recently sold in the areas the client is interested in. Find out the inside scoop on those sales, which will make you appear like you are “in the know.”
Ask your inspector team if they are aware of any specific issues with the kinds of homes clients are considering and in the areas where they’re located. Do some sleuthing with other professionals you regularly interact with, including your insurance agent, contractors and appraisers, to see what you can find out.
Come prepared with a comprehensive relocation package with an area or community map; neighborhood information; listings with tax records; statistical market analysis and short overview of active, under contract and sold comparables; and any other information you have access to that is relevant. Even if they don’t review everything that you put in there, it makes you look like a true professional, and they will appreciate the extra effort.
Make sure you have whatever tools you need to do your job at the ready — laptop, tablet, phone — all charged up and ready to go with power cords and mobile hotspot.
Have an “A” list, “B” list and “C” list of properties you can turn to on the fly. Talk to listing agents ahead of time about properties you may potentially set up for showings to see what’s involved and if you could get in on short notice, if needed. Locate rentals that could be suitable options and find out if those owners would consider selling.
In this five-part series, Cara Ameer breaks down the ins and outs of working with high-profile, high-stakes clients in the worlds of sports and entertainment. In the final part of Ameer’s series, find out how to come out on top as your high-profile client’s go-to real estate professional by offering options that work for their particular needs and life stages.
Cara Ameer is a bi-coastal agent licensed in California and Florida with Coldwell Banker. You can follow her on Facebook or on X, formerly known as Twitter.
