Above, the Ben Affleck/Jennifer Lopez estate for sale, and luxury agent Shauna Walters
If there was one thing Ben Affleck and J.Lo knew for sure when they moved into their $60 million, 38,000-square-foot love nest back in 2022, it was that neither would ever have to wait to use the bathroom.
How could they, considering there were 24 of them?
Alas, their marriage didnāt last, and Crestview Manor, with its 12-car garage, basketball and pickleball courts, fully equipped gym, boxing ring, sports lounge, zero-edge pool and more, is currently back on the market. It will likely be snapped up soon by some other mega-rich movie or music superstar, tech titan or mysterious foreign buyer. So says Shauna Walters, a luxury sales agent with the Walters Plaxen team of The Beverly Hills Estates.Ā
In an interview with RISMedia, Walters explained how what she does varies from the usual role of most residential agents across the country. But one point she made, ironically, was that most of the buyers she has worked with came across as regular folks, no different than anyone else other than having a lot more zeroes on their net-worth statements.
She shared insights into the preparation required for showcasing luxury properties, emphasizing the importance of creating an emotional connection for potential buyers, while touching on her approach to client interactions, highlighting the blend of professionalism, discretion and creativity required in the super-upscale niche.
Michael Catarevas: What are the major differences between selling a house for, say $2 million and $30 million?
Shauna Walters: Well, obviously it’s the type of clientele, who are on a much more elevated level and looking for an incredible lifestyle. These homes have some of the most amazing amenities and over-the-top rooms like vodka bars, extravagant wellness areas, pickleball courts and tennis courts. Some are full-on resorts. So it almost becomes a case of not what do I need, but what else can I have?
MC: When you represent a property like that, how much preparation must you do to learn about it?
SW: We walk through it with our team, meet with the developer and designer, go through it and take notes. We find out about the appliances, the furniture, what are the amenities, and try to understand the house so we can sell it to the buyer who walks in.
MC: When you are showing one of these huge properties to clients, clearly they’re either celebrities or wealthy executives. Whatās that like since they’re not regular people, quote unquote?
SW: At the end of the day, everybody is just a regular person. I’m born and raised in L.A. and I modeled, so I have been surrounded by celebrities and wealthy people my whole life. I treat everybody the same, really. Sometimes I don’t even know who these people are. If theyāre actors, I do my research to know who’s coming.
MC: When people who are interested in these types of estates visit, do they come with many others?
SW: Sometimes. I had a recent sale where everybody came; the mother, the father, the cousin, the security and then the friends to make sure it worked for their parties. Often it’s a full crew and multiple showings. Everybody has an opinion. Every dad is all of a sudden an inspector. It’s a big purchase, and we have to respect that. They obviously want to have friends and family and opinions. I’m working with a client on something right now, a big deal, and every visit is four hours, but not because it takes four hours to view the house. We want them to feel the emotion of walking into that property. It’s about a feeling, whether you’re buying a house for $50 million or $2 million. You want to walk into the home and feel a certain way.
MC: What are the strategies for showing a massive property as opposed to a regular house?
SW: It is obviously a lot of preparation. I have a team that comes and sets up and gets music ready and, if it’s appropriate, fireplaces, candles, flowers and making sure every light is on and that the pillows are fluffed. Sometimes we have champagne, sometimes we have lunch set up. You have to cater to the client and read the room. I’ve had clients walk in a house and it’s a 10-minute showing, while with others it’s a four-hour showing, but there’s always a lot of preparation.
MC: The Affleck/J-Lo estate has been in the news. It has 24 bathrooms. Do people want 24 bathrooms? What’s the deal with that?
SW: I mean, people laugh at things like 24 bathrooms, but once you understand the scale of these places, it actually makes sense. Every guest room, gym, theater, pool and cabana has its own bathroom. There might be three pools. So in the grand scheme of things, with the size of these houses, it makes sense.
MC: Do clients actually look at every bathroom?
SW: Sometimes. I mean, it’s not like they’re hanging out in there. The most important thing, obviously, is the bathroom for the master bedroom, but they do look at the others. They want to see the whole house, so if they’re serious, they will.
MC: The extremely wealthy, they have to be a little bit different than most people, right?
SW: Some people I’ve met, billionaires, are the nicest human beings, and you get some very, very interesting people. It’s kind of all across the board; I meet all kinds of characters. Buying a home is an emotional process which I genuinely enjoy helping people navigate through. It’s one of the biggest financial purchases and decisions of somebody’s life. Itās where someone is going to spend their days and nights. So at the end of the day, everybody’s just a regular person.
MC: Does it ever seem off to you that a place with 24 bathrooms and 40 rooms might only have two people living there?
SW: A lot of people will have a huge staff. I know a client that had a staff of 20, so itās constantly people in the house. Thereās a lot of upkeep and employees and house managers.
MC: Is there a lot of secrecy when working with famous or very rich clients?
SW: Very often, yes. I would never ask other agents who theyāre working with because I’m too busy and don’t care what anybody else is doing. I have my own homes I’m trying to sell, and people try to keep everything hush-hush. A lot of times there are NDAs and you have to respect the clientele and people’s privacy. One of the most important things in this business is establishing that trust.
MC: What is the negotiating like for these crazy-expensive estates?
SW: It can be very, very intense. But sometimes it’s the smaller deals that are, because the margins are smaller as well. I’ve had some of the easiest transactions on the higher-end deals, and then I’ve had some like, oh my god, I need a vacation after that. You would think the higher deals are always harder, but that’s not always the case.
MC: When it comes to the swimming pools, the tennis courts, grounds and those kinds of things, is there a particular way to showcase them?Ā
SW: A lot of times there are all kinds of indoor and outdoor features. That’s what L.A. is about. So sometimes it’s more about the outdoor entertainment space. People often want to walk right out to the backyard first. Sometimes we start in the backyard. We have the waterfalls out and the pillows, and sometimes the spa going. At one property, for $108 million, we have this massive TV that comes up from the ground. You push a button and it retracts and goes down. People like to see stuff like that.
MC: What about neighbors? Do buyers want to know exactly who will live close to them?
SW: Sometimes they do. You have to be careful, obviously, about giving information about neighbors.
MC: Itās an interesting world, working in super luxury, right?
SW: I love it. I’ve been doing this for 20 years. I started when I was 21, and honestly, it’s like the best profession, and I feel so blessed and grateful every day because I’m always meeting new, interesting people. And I’ve made some of the greatest friends who were clients. It’s never a dull moment.Ā
MC: How has the industry been over the last year or two regarding these massive estates?
SW: We are seeing international buyers come back, which is nice. For a while, obviously during the pandemic, a lot of people couldn’t come over here, so it was slower on the higher end, but it’s picked up now. We’re seeing a lot of clients from Asia.
MC: Any example of something unusual that you’ve experienced?
SW: Once I was touring a property where the sellers forgot to mention a secret door behind a bookcase. I leaned on it by accident, it popped open, and we found a full nightclub with a disco ball, fog machine, bar and all. The client looked at me like we just found Narnia. It was wild!