There seems to be a new marketing trend bouncing around in residential real estate. When an open house isn’t enough to get the property sold, you bank on creative marketing. For instance, collaborate with a celebrity to get noticed and exposure. Throw a themed open house party like The ‘70s with maybe a 70’s rock band to perform. Throw an art-and-sculpture-themed party, complete with local artists to show off their work at the open house. A prohibition-themed party is a fun idea for an open house featuring a live jazz band, costumed gangsters and burlesque dancers.
There’s a sleek 35-story, luxury rental tower at 300 Ashland Place in Brooklyn that seemed to loom over an area known for its row houses. For the Brooklyn property, management company Two Trees Management has partnered with fashion blogger/magazine editor Tavi Gevinson, 21, to promote 300 Ashland Place. Gevinson has more than 550,000 Instagram followers, and she lives at 300 Ashland Place, as well as promotes it. Short of paying more for rent like apartments in Brooklyn Heights, 300 Ashland Place is the place to live.
There are so many creative and innovative ways to promote properties for sale and seek out buyers today with or without a celebrity endorsement or appearance. But here’s an interesting question – What if celebrities marketed their own properties for sale in addition to their heavily commissioned broker’s assistance? Would they close the deal with a higher selling price?
For example, there’s Anne Hathaway and her ninth floor loft apartments in Dumbo Brooklyn that she sold at the iconic Clocktower building. Hathaway purchased the 2,592 square foot corner unit in January 2013 for $4.1 million. After more than a year on the market, her Dumbo Brooklyn apartments finally sold for $4,330,000. Maybe if Hathaway put together a video of herself touring her lofts and posted it repeatedly on Facebook, she would have gotten much more exposure than just her real estate broker alone.
Same type of example with Julia Roberts selling her home in Hawaii. Situated on 231 feet of beach frontage on the crest of Kauai’s Hanalei Bay, Roberts’ original asking price was about $30 million. Named the Faye Residence, the original purchase price was $13.375 million. After owning the two-plus-acre estate with two houses for 5 years, Roberts’ property sold for $16.2 million. The two plantation-style structures combine to offer seven bedrooms and four bathrooms with nearly 3,800 square feet of living space. Just think if Julia Roberts did her own advertising for her Hawaii house. Perhaps Roberts would have been able to get closer to her original asking price with a YouTube video of her gorgeous Hawaiian beachfront property…
So, are we influenced by celebrities’ opinions? Yes, in a world of constant social media, society does rely somewhat on what celebrities have to say. How is this proven to be true? We keep watching and listening to them. It’s something to think about anyways.