Lenny Kravitz, who owns one of the coolest SoHo penthouses around, just put it on the market for $19.5 million.
Now, because he's Lenny Kravitz, he gets written about, allowing him to save some straight advertising expenses that a regular Joe homeseller might incur. But I thought it was a good opportunity to point out some "celebrity lessons" that regular Joes can pick up on.
1) An apartment or house does not sell just because you want it to. A star seller will often confidently name a high asking price, do a round of interviews, and then discover that their home is still sitting on the market (Kravitz has been selling his place on-and-off for the past five years). If you're thinking of selling -- especially if you're a first-timer -- realize that it is not a process that takes a week or a month but usually months, and sometimes years. The easiest way to handle that slog is to be prepared for it.
2) You need to constantly update a home to meet the needs of the market. A buyer is always thinking -- what else could I buy at this price? Therefore, you want to try and stay competitive in terms of amenities, finishes, layouts, kitchen appliances, etc. Kravitz, according to Josh Barbenel's press report in The New York Times, redesigned a billiard room to become a formal dining room, with a long table and seating for 14.
3) There's always a time of day when your home looks its best. The Kravitz apartment contains a wall of glass that "glows" at dusk, according to the Times. There is probably an ideal time for your home too, depending on the season and the positioning of the windows. A lot of the seller's job (or the seller's broker's job) is to get buyers in at that time. If the home has gorgeous morning light, why show it to buyers in the afternoon?