Secrets of Selling Luxury Living

From Hollywood mansions to NYC penthouses, multi-million dollar properties are hotter than ever.
7:47 | 04/24/14

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Transcript for Secrets of Selling Luxury Living
Tonight we bring you an inside look at a corner of the real estate world few ever see. And the view from there is not to be believed. Brokers are selling more than just dream houses, they're peddling a rarified lifestyle showcasing champagne and caviar as well as a ferrari in the driveway even if it is rented. ABC's Paula Farris discovered the tricks of the trade for our series "Real tty check." Amazing infinity edge pool. Insane. How much better does it get? Reporter: From the palaces of L.A. -- to the penthouses of Manhattan, luxury living is back. And more expensive than ever. This month, mansions in los Angeles and greenwich, Connecticut, each sold for more than $100 million, shattering record. Welcome to the famous billiard room. The fireplace mantle, Hearst brought from a French chateau. Reporter: This legendary Beverly hills estate is available for any one with a spare $135 million. It is a very exciting time to be living, and it is like the Dow Jones, who knows how high it will go? Reporter: A Los Angeles real estate broker who specializes in ultra-high-end homes. That is when he is not moonlighting on the "Real housewives of Beverly hills." Good luck. Reporter: His wife is housewife Kyle Richard. Clients from Europe, Asia, China, Singapore. Reporter: All driving up prices. With demand high and inventory low, the U.S. Housing market is on fire at all ends of the spectrum. Real estate keeps beating expectations in terms of sales. Today I have a really important client that is flown in from out of town. A business titan. A little more conservative to. Day I will put on a tie. Reporter: The real estate agency that he runs is called simply, the agency. I have sold houses to absolutely everybody from extraordinarily high end celebrities whether it be an Arnold schwarzenegger or Heidi klume and seal, big hedge fund. Big stock guys, gurus in their industries. I love this. Such a cool, serene environment. Reporter: With his daughter Farrah a broker at the agency by his side, Mauricio brought us on a tour of the agency's exclusive listings and revealed the art of the big sale. We think the right client for this house will be an art enthusiast. We went through the effort of bringing in really special art. Reporter: This 16,000 square foot estate in holmby hills is for sale for $48 million. It is by some accounts the most expensive spec home for sale in America. We are on boardwalk right now. The opportunity to represent, market and sell a property like this is extraordinarily exciting. Reporter: Tonight, he is throwing a champagne and caviar party, no, not for the high net worth buyers but for other select brokers who are getting a first peek at the house. Have you had any of the caviar yet? Reporter: The home is not officially listed on the real estate databases which means you have to know some one to find out about it. We are trying to just be exclusive. Get it sold under the radar. This is a high-profile purchase. A lot of people don't look to be show-offs. If this is what $48 million can get you in Los Angeles, this its what a similarly priced duplex penthouse looks like in New York where prices per square foot are skyrocketing. How much are you paying for the strew? A lot. There are very few view points in Manhattan. It could be the rivers and central park that are priceless. This is protected. You will never lose your view here. Reporter: You may recognize him from bravo's "Million dollar listing New York" and his business partner head one of the top producing real estate brokerage teams in the country. You have a staff door. Because this apartment was two apartments that were combined. If you are entertaining in the great room you can have staff that is coming in working in the kitchen. Obviously if you have a $42.5 million property you are not doing cooking yourself. Right? The apartment they hope to sell is in the time-warner center next to central park. Walk-in cloz sets are very important. This is my favorite. Designed by a woman. Like a bowling alley. It remind me of "Sex and the city." The tub, if I was to drop $42.5 million, I would want to verify just how good my view is from, from -- With the bubbles. Yes, I am 6'5", almost. You are tall. Note the positioning of the tub looking at central park. Wow. Is this the view you want when you have your rub-a-dub-dub. At $12,000 per square foot they say their most likely buyer will be international shopping for a New York City crash pad. Itch they're from out of town it is our job to sell New York, the city, lifestyle. We hook them up with the concierge, fly them places, Hamptons, all about them buying into New York, the time-warner, this building, and also of course the $42.5 million apartment. We are selling a lifestyle. All on your dime, correct? All on our dime, correct. Reporter: Across the country, the marketing strategy include an Enzo ferrari worth more than $1 million. For this much money you get to park your car on the lawn. Reporter: They're prepping for an evening event for ferrari owners. We look at ways of selling a house through its lifestyle, versus selling a property through its real estate. Reporter: There is a price for this nest high of in the Hollywood hills, $38 million. The furniture is included. Not the art. Some body buying the house, some body like Leo Dicaprio, loves the architecture, I see some one buying this house. Dicaprio has not come in for a tour but has been house hunting in New York City and, he says that he visited a listing, new construction downtown. Our job is to design something very specific for some one super-uber wealthy. The roof is private for the penthouse only. Reporter: Those who are not household names do not automatically get the red carpet rollout. Potential buyers are screened before they can even tour. I have no to multiple people that have wanted to see houses. Generally speaking it is because we don't feel that they qualify. I had another client who wanted to live right next door to Sylvester Stallone. I called sly, do you know the guy. Sly told me he had a stalker. We were able to cancel the showing. Have you been taken advantage of? It is nothing for us to ask for bank statements. Letters from accountants to verify there are enough monies in their accounts. It is pretty standard at this price point. Reporter: When all goes well and the sale come through, the potential payoff is big. For a home in the $50 million range, commission is about $2 million. I think getting the big Numbers is very important. I said if you want to get rich, increase the size of your deals. What are you driven by? The rush I get. Negotiating for a long time. I do the impossible, which is getting the buyer and seller to meet. Then I high kick and jump up and down and scream. Whoo! Reporter: A rush that can be worth millions. ♪ ♪ money on my mind ♪ Reporter: Paula Faris for "Nightline," in New York. Oh, god, a day in the life.

This transcript has been automatically generated and may not be 100% accurate.

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