17 Apr Why Selling Your Principals Primary Residence Can Attract Privacy Violators (or worse).
Why Selling Your Principals Primary Residence Can Attract Privacy Violators (or Worse)
Nearly 100% of your principal’s estates are held in a Trust (or LLC owned by a Trust) because protection and privacy are of the utmost importance to them. Of course, this is a great way to achieve protection and privacy but additional concerns can arise when your principal decides to sell an estate, particularly one they (or their immediate family) live in.
This protection can be limited once a property is listed for sale by the traditional means of selling a property.
Take, for instance, MLS. MLS is a listing of every single home being sold by real estate brokers in the United States. Unless specifically exempted from MLS, every home that is being sold will be listed.
The MLS is a great way to get the word out about your property sale if your situation is normal. But what if your situation is not normal? What if you want your home to be seen by the right people, not by the masses?
If you are a public figure, MLS is probably the last place you want to list your home. About one-quarter of all sellers are already turning their back on MLS, in part because of privacy concerns. “MLS” stands for “Multiple Listing Service,” but the truth is that the word “multiple” in this context is a bit of an understatement. The information and data that is broadcast through MLS come from approximately 900 databases of homes for sale and for rent.
When a listing enters an MLS, it is commonly syndicated to hundreds of websites. Other platforms may repurpose it manually or use software that scrapes the data from the web.
And here is where the problem truly comes to light for public figures: Once a listing enters an MLS and the other accompanying platforms, the details of their estate become the property of these platforms.
This means the details of their address, the images of their child’s bedroom, and the pictures of their bathroom have entered the public domain, as have the number of days the property has been on the market and whether the listing price has been reduced.
The information can easily be shared with and accessed by media outlets. And this is only the tip of the iceberg.
This opens the door to numerous privacy concerns including but not limited to gossip, speculators, critics, harassment and share holder questions.
As you can see, from a privacy standpoint alone, using a traditional method of publicizing the sale of a piece of property is terrible.
Fortunately, there is a better way—one that allows public figures to protect their privacy when selling real estate while still showing the home to qualified buyers. Privacy Sale™: A Real Estate Broker’s Guide to Selling a Celebrity’s Property Without MLS will share a process with you that will make the entire process private. Your principal will have complete control over who knows and perhaps more important, who doesn’t know about the sale of their property.
So What is a Privacy Sale? A privacy sale is a unique process for celebrities, high-profile business leaders, politicians, and other public figures to keep their real estate (exclusively in excess of $3 million dollars) “off market” while still selling it at top market value. The goal of a privacy sale is to maintain your principal’s privacy while drastically reducing the traditional challenges that come with the one size fits all way of selling property.
The book explains how a privacy sale will give your principal the protection that they need for themselves, their family and their valuable assets. And, how a privacy sale will afford them the autonomy that they deserve to have control of their personal life and the desired exclusivity and financial advantage that are crucial to a first class property sale.
So you might be thinking, my principal has been selling property discreetly for decades, how is this different? The bulk of the book focuses on the one key difference, which is, how to execute an effective marketing plan. A laser-focused marketing plan that will maximize exposure to the estate then bridge together the right buyers and brokers with the seller at exactly the right time, using ultimate discretion. A privacy sale is an alternative to the normal process of selling property. It excludes the property from MLS (and other traditional listing sites) while still ensuring the highest possible sale price for the estate.
The book focuses on 3 components that support why a privacy sale is the answer for celebrities, public figures and high net worth individuals seeking privacy.
1. Why privacy laws will always be ineffective for public figures.
2. Why the MLS and the traditional ways of selling real estate are broken.
3. How a well connected broker can discreetly sell real estate when MLS is not the best choice. Proven marketing strategies to sell under the radar. Hint: It doesn’t require reinventing the wheel.
This is a must-read for estate managers or to share with your principal’s real estate advisors. It provides a step-by-step privacy sale guide for your current real estate vendor to follow, or if you are in search of a new vendor, the book helps you pick the right real estate broker for your principal’s needs.
Here’s just a fraction of what’s inside the book:
Why privacy concerns are not limited to people that battle camera crazed paparazzi. [Page 2]
The 1 big-dirty reason why the public will always know too much about affluent clientele’s personal lives. And, more people read these publications than read the Bible. [Page 5]
Why lack of discretion could affect your ability to attract the right buyers for your home. [Page 9]
Find out the 10 components used to protect your principal’s interests during a privacy sale. [Page 13]
Find out why it’s better to market to the 700 people who can actually buy your property than to the billions of people who can access an MLS website. [Page 17]
Finding the right broker for your needs: 6 key factors that are used to determine whether you have the right broker for your needs. [Page 23]
Why a broker will use this “tech tool” to discreetly connect one-of-a-kind properties with one-of-a-kind buyers. [Page 25]
The execution of a privacy sale is largely dependent upon this 1 thing that maximizes response and buyer interest in the property. [Page 27]
Why a buyer only cares about your home once they actually “care” about your home. Find out the only way to engage buyers deep connection with your home. [Page 29]
When to consider a second opinion: The 4 things a broker must understand about you to ensure a successful property sale. [Page 40]
DEMA members (and their real estate vendors) can get a complimentary copy of the Privacy Sale™ Book. Visit http://travisjohn.com/dema to to download a free copy of the book today.
Travis John is the President of Travis John Agency and the creator of the Privacy Sale™.