Mega-mansions in Los Angeles are piling up
Ever since the year 2014 and 2015, foreign buyers of massively high-priced properties of over $20 million prompted an increase of construction for mega-mansions according to the report published by The Wall Street Journal.
At present, high-end constructions of mansions in the neighborhoods of Los Angeles, such as Bel-Air, Brentwood and Beverly Hills are being developed. However, the demand for these high spec houses seem to be lower than what the Los Angeles real estate agents have expected. In order to put these mansions in the market, real estate agents are implementing several tactics.
Enormous Price Cuts
Los Angeles real estate agents are offering a $100 million worth of price cuts for their mega-mansion listings among other luxury real estate. As a matter of fact, a Bel-Air mega-mansion nicknamed “Billionaire” that costs over $250 million went down from being the highest listing in terms of cost, made a $62 million worth of price cut after almost a year.
And recently, the Bel-Air mega-mansion had another price cut down to the value of $150 million from its original listing price of $250 million according to this index.
According to the developer of the Bel-Air mansion in a press conference, today’s mega-wealthy and billionaire people are not ready to purchase a property that costs over $200 million–which is why they’ve decided to widen their market by having a price cut amounting to $100 million of value.
Dramatic Movie Trailers in Mansions
The CEO and founder of the Society Group, Alexander Ali, creates dramatic movie trailers that showcase the mega-mansion properties, in order to help real estate agents to sell these multi-million worth of properties.
According to Ali’s interview with the Business Insider, they’ve successfully produced a dramatic movie trailer that reached over 3 million views worldwide, and caused a significant impact on the real estate industry. Ali’s approach to real estate property is perhaps the most creative marketing tactic yet.
In fact, the Los Angeles real estate agents have shot a dramatic movie trailer with Ali and a buyer came up after 45 days, where they’ve successfully sold the property for $27 million.
Throwing Sumptuous Parties to Attract Buyers
Through the aid of Ali, luxury property real estate agents Branden and Rayni Williams are starting to throw lavish parties that cost over $100,000 worth, in order to attract buyers for the mega-mansions.
Last February 2019, over 500 guests attended a mysterious party at the $55 million worth mansion. This mega-mansion was developed by Nile Niami, equipped with virtual-reality experiences, aquatic performers, edibles bar and many more. As a result of this lavish party, the property really did attract a buyer.
Changing the Mega-Mansion’s Energy
The Los Angeles real estate agents took a different approach by changing their mega-mansion’s energy–taking all the bad energy and replacing them with good ones. This was made possible by crystallizing the mansions with geodes in order to bring good energy in.
They’ve also pumped up some happy musics and live plants that brings a warm and home-y feel to the mansions.