The below linked article about how a potential seller of a luxury single-family home planned a renovation with selling it in mind provides a number of helpful lessons for agents and brokers. These lessons are valuable whether involved with luxury style properties or listings other than single-family. This subject property is in Palm Beach, Florida. In this instance, that does not matter to the lessons, other than being properly identified as having properties valued at more than $12 million.
One lesson is seeing a local investor with the knowledge, confidence, and experience to purchase a multi-million dollar luxury property during 2025 to renovate and successfully list at a higher price. (As of press time, the listing had not sold yet, although multiple local agents have no issue with the asking price.) Obviously, there is more room to work with when it is a higher priced property. Executing this renovation will demonstrate, upon a profitable sale, that the “fix and flip” concept does not have a price ceiling.
Another lesson is that it is a property in Palm Beach. Many real estate professionals are, rightfully so, concerned about problems with Florida real estate brought on by recent natural disasters, insurance prices, and the number of people moving into and out of the State. Despite the obstacles, a local investor is engineering a profitable double transaction regardless of market conditions and mortgage and funding rates. What is being done with this home could be done in many other states. However, if you are not monitoring deals in other states and parts of the country, you would not be aware of opportunities such as this one.
In addition, the article describes some of the specifics of the renovation, creating or improving amenities like bedroom sliding doors opening onto a patio and an island kitchen. Real estate professionals involved with properties of this caliber can benefit by learning about which amenities are provided to add to the appeal of a listing.
Keeping track of success stories within listing, sale, and marketing opportunities can take a lot of valuable time away from your current role. If you are or become a marketing client of mine, you would be able to benefit from research like this without sacrificing from your upcoming schedule.
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