July 20th, 2015
Anders in Hawaii and Lee in Texas both pointed out this property video to me last week. This property is marketed by Rayni and Brenden Williams. Also, there’s a LA Times article that featured the video last week and claims that there’s a trend under way:
The high competition among agents reflects the rapid and global rise of extreme wealth. The number of billionaires worldwide is at a record high: 1,826 total, with 290 newcomers, according to Forbes’ annual list. Many are foreign; more of them than ever before are under age 40.
They’re increasingly likely to buy a property based solely on what they see online, especially if they’re from outside the U.S. So upscale homes are often advertised via glossy websites stocked with detailed floor plans, Hollywood-caliber videos and aerial photos taken by drones.
This appears to be the same kind of luxury property marketing that we’ve seen going on in Australia, particularly on the Gold Coast for a number of years. It’s finally moved to LA. I’ve always wondered why there wasn’t more of this going on in the past in the LA area since there is no shortage of video and creative talent. It appears that the billionaire buyers have got them engaged in the LA area but don’t expect this to happen everywhere.