BrokerageIndustry News

How to sell a megamillion-dollar listing

Part 3: Marketing to the ultrawealthy

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

(This is Part 3 of a three-part series. Read Part 1 and Part 2.) Frank McKinney is building the most expensive spec house in the United States. Will he sell his house for more than the Trump estate? Frank McKinney, sometimes called a modern day Robin Hood due to his philanthropy, claims that he "sells to the rich to give to the poor." His foundation, The Caring House Project, provides shelter to the "world's most desperately poor." He attributes much of his success to the idea of "paying it forward." The more you give to others, the more that comes back to you. Like many other self-made men, he started with virtually nothing. He began his building career helping others make basic repairs to their homes. When he ventured out on his own, he took all the money that he and his wife had to buy a $50,000 fixer-upper. McKinney's success strategy was simple: locate an undervalued fixer-upper, upgrade, and sell it for much more than you paid for it. In fact, McKinney says that if...