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Having celebrities as clients is a lot different on how it's handled. A lot of them have people doing business for them. They don't necessarily deal with the athlete directly all the time. They have different disclosures because a lot of times, they are very conscientious about their reputation or the brand they represent. They will require you to sign agreements like you're not going to distribute original signatures, confidentiality agreements, etc. As compared to dealing with normal consumers wherein the realtor deals directly with the client, when it comes to a celebrity, they barely or do not deal with them at all.
The other side of working with celebrities is that generally, a lot of them are very conscientious of disclosing who they are so some of them use Trusts, LLCs. They don't usually disclose who they are when they are offering because they're afraid that it might somehow harm them during the negotiation. They are also very structured about their privacy.
Some people think it's so cool to have celebrities as clients but Andrew having worked with several celebrities from the media shares that although you are representing them, you don't really get to spend a lot of time with them. A lot of the communication go through their people - their attorneys, their agents.
Arnie Diaz of Waterstone Mortgage talks about the financing side of things. Even celebrities and athletes go through the same things as normal people do. Just because they're celebrities, it doesn't mean that they don't get tax returns or do the ratios.
Andrew says that if you feel your time is very valuable and you have people like a CPA to help you like what athletes or celebrities do, then you can lean on them to do the legwork like compiling the paperwork and other things. A lot of athletes do this not just because their time is too valuable to be spending it on that but also because it's not their strength. Arnie agrees saying they are not very good business people most of the time.
For more Tampa Bay Real Estate news and advice, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
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