Another Musical Interlude possibility

Another of the fun asides!   Peaches appeared with John Waters at the Crystal Ballroom several years back.  Absolute fun!  This song certainly works well in the nightclub scenario.

Musical choices

A lot of people have been asking about my choices for music.  I absolutely love Lady's Twerk and how she works her videos.  Such fun!

The Rich Actually Think Differently

http://www.businessinsider.com/how-rich-people-think-differently-from-the-poor-2012-8?op=1

A very telling article that showcases how the rich think differently from the average.  I think it applies to some, but not necessarily those who inherited their wealth.

Great Acting!

What nearly $100 million can get you.  Bravo on this fine performance by Glenn Close portraying the tragic Sunny von Bulow.  Sunny's Newport Rhode Island Home, Clarendon Court, was recently for sale.

Real Estate Expertise

Finding a good real estate agent for luxury homes in any market is a challenge.  There is definitely a lot of conversation about buying and selling high-end property in my newest fiction work.  The most interesting thing about top producing real estate talent is the quirkiness of the distinct personalities who represent buyers and sellers in the top echelon of the marketplace.  Just like the wealth management professional, the luxury property agent is a bit like a psychiatrist, and each one has a different angle on how to earn and retain your lifelong trust.

Technical excellence and honesty are as important as marketing.  Just look at the experts of Corcoran Group and how they've perfected the art of the real estate experience.  Agents in other markets beyond New York and the Palm Beaches are learning.  For example, each listing should include a floor plan in the images . . . And the images should ALWAYS be high-resolution so someone can really appreciate them.  Real video tours (not those virtual tours that use photos) are a must as the high-end consumer is interested in the "movement" of the property.  For example, one recent listing in Beverly Hills for about $19million had a great photo essay, but the movement of the waterfall into the pool was not captured.  Very disappointing considering a commission of over $375,000!

As the super agent dinosaurs of the past become yesterday's news and a new highly-mobile tech-savvy high-end real estate professional emerges, the honest professional should be able to find a sweet spot for a listing price.  The hungry ones will price gouge by low-balling a seller to get a quick closing while those who have active inventory or 'sold by' portfolios can easily wait with you for the correct opportunity.

In, any interview of this caliber of agent should include a survey of the agent's sphere of contacts.  Do they speak multiple languages?  How many private clubs do they belong to?  Are they respected by other agents in the profession?  The class-act will undoubtedly be very well-connected in creating an instant buzz about the property.

Wealth Management Curiosity

As part of my research for my latest literary work, I've been investigating how private banks are engaged in business development and in how they work with their clients.  There certainly is a niche where the skills of the private banker are needed.  The individual with $10-30 million in assets to invest benefits the most from a direct relationship with the banker and his or her investment team - a sweet spot where the bank will pay attention to your deposit base and one that is not too large to have their own family office.

But - let's talk about personality and information.  Today's private banker needs to be more than just a bank.  When representing the ultra rich or even those with $4 million+ net worth, the banker must be prepared with a portfolio of answers on obscure topics like "where should I stay when I go to Art Basel Miami" or "I need to sell my yacht - who should I trust?"  In addition to knowing about the key hotel or private club, the banker should have a contact for the best party and should try to do something special for the client during their trip.

If you are aligned with a certain private bank - test them!  If you're investigating opportunities for future relationships - listen to something beyond a canned presentation and ask some off-the-cuff questions to see how well the banker can perform.  If the banker doesn't come back with a good answer by your second meeting (or in a follow-up email), it probably isn't a good fit.  You can also tell a lot about the "personality" of a private bank from the types of information on their websites.  HSBC and Goldman Sachs have exceptional examples of both market analysis and helping individuals review their personal goals and create a plan.