Q: When a client has a large list of wants and you know from the start that it will be impossible to meet them all, how do you approach a compromise?
A: Transparency is key and I always try to manage expectations from the get-go. I never want to string people along because I know that will lead to disappointment and a loss of trust. With that said, every client has a large list of wants when you’re dealing in luxury real estate. These are high-net-worth individuals who don’t compromise in life, and I always try to help them get what they really want. It’s up to me to properly advise them while finding creative ways to reach their vision.
Q: What are the top three questions a buyer should ask about a property, and why?
A: Always ask what the required disclosures are. These can vary based on location so you want to make sure you are getting as much of a full picture from the seller as possible so you can set up the right inspections. Inspections can be very costly but it’s always worth it. I have seen properties get as many as 15 inspections.
Always ask for a separate appraisal of the land value. The quality of the land and location is the ultimate price driver. You need to know this value to determine how competitive the asking price is and whether or not it is a good investment.
Always ask the reason for selling. This can be helpful information for negotiating the price. If the reasoning is more urgent, the seller may be willing to lower the asking price to get the deal moving.
Q: What’s one piece of advice you would give to someone about to have their luxury property listed; what should they look for in an agent?
A: Real estate in general, can be a volatile market and the stakes are especially high for luxury properties. I would advise buyers and sellers to take the time to vet the right agent. Trusted referrals are the best approach. You should know about the agent’s former experience, who they have worked with in the past and their reputation. It should be someone who has worked successfully in the local market but has a strong global network. Chemistry is also key. This process requires collaborative effort and you need to have a mutual understanding and respect to work well together.
Aaron Kirman
Aaron’s vast knowledge and expertise in selling exclusive properties has helped him to procure some of the highest prices in Beverly Hills, Hollywood Hills, Beverly Hills PO and Malibu. His most recent price record in Hollywood set the bar at $4,722 price per sq foot, representing both the seller and buyer.
Aaron attributes his success to his vast marketing and advertising strategies, partners, market knowledge, exclusive contact base and true love of luxury sales. He is sought by many developers to sell multi-unit projects including a private island in the Pacific, Turks and Caicos, and the W Hotels. Many developers, architects and designers contact Aaron prior to construction and completion of their projects to take advantage of his long track record of success to insure the design, architecture and plan would appeal to the right high end buyers.
To learn more about Aaron please visit: www.AaronKirman.com
