Buy and Sell Real Estate Like Donald Trump

By: Christine Davis, July 10, 2015

According to Forbes, Donald Trump’s fortune, which it estimates at $4 billion, is growing, thanks to his tony New York properties like 40 Wall Street, Trump Tower and his Doral golf resort in Miami, along with his “Apprentice” appearances, books, speaking engagements, Miss Universe and Miss USA pageants and menswear at Macy’s.

Forbes must be right, because, according to Trump, his wealth is growing at an amazing speed. In a statement he issued on Wednesday, July 16, he noted his net worth to be in excess of $10 billion, more than the $8.7 billion he said he was worth when he announced his presidential candidacy a month ago.

“Real estate is at the core of almost every business, and it’s certainly at the core of most people’s wealth, “ Trump has been known to say. Here are some “Trump Take-Aways” offered by Douglas Elliman Florida “Top Realtor,” Senada Adzem, who was former vice president of Trump International and mentor of Sean Yazbeck, fifth-season “The Apprentice” winner.

Advice for sellers:

  • Trump believes first impressions are key. Stage your property, because most prospective buyers can’t visualize what it could look like. They want to see exactly what they are going to get.
  • Trump’s lobbies produce a “Wow!” experience through the use of incredible materials. Do the same in your foyer. Use a gorgeous chandelier, and, if there’s room, use furniture that is of good quality or a brand name.
  • If your home has nice views, don’t obstruct them. Remove furniture that’s in the way.
  • When showing your home, hit every sense. For visuals, make your home light, bright and airy, in addition to staging it. Also add some flowers, aromatherapy or candles; play some music; place a dish of mints on the coffee table.
  • Marketing is crucial. No matter the price point, create a story for your property. Decide what it is — a modern house with a rustic twist, for example — and brand it that way.  If it has a history or was built by a respected architect, include that information in your marketing material. Consider giving your home a name.

Advice for buyers:

  • A smart buyer is the best buyer. The phrase, “Location is key,” sounds like a cliché, but it’s true. Make your home recession-proof. Don’t get so carried away by the interior of a home that you forego a good location. Even in a down economy, homes in good locations sell.
  • Look for a diamond in the rough. Focus on the fundamentals: location, how well the home was built, its exposure, its proximity to a good school. Remember, it’s ok to invest minimal money into your new home at first, knowing that over time, you can make improve
  • Trump is known as a strong negotiator. Be smart and deliberate when it comes to negotiating to ensure that you get the best value. Do your research so that you understand the value of a home as it relates to you. Is the location safe? Are the schools good?
  • When you submit your offer, make it human. Include a cover letter to the owner, explaining how you came up with your price. In a negotiation, it’s more than just the numbers. Real estate is about emotion, so give the owner some way to connect to you.

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