Real Estate Mogul Barbara Corcoran Reveals Top Homebuying ‘Rule’ That Helps Ensure ‘You Can Always Sell It’ Later On

Real estate tycoon Barbara Corcoran has revealed the one rule she follows when she is buying homes—explaining how it has helped her ensure she "can always sell" a property later down the line.

The 76-year-old "Shark Tank" star and Corcoran Group founder made a career buying and selling real estate for a significant profit, and she has now opened up about the top feature she looks for in a home, one that indicates it will offer a good return on her investment when it comes time to sell: location, location, location.

Speaking during an appearance on "Boardroom Talks" with host Damien Scott, New Jersey native Corcoran gave one very blunt piece of advice to homebuyers and budding investors about what they should be looking for in properties, describing it as her top "rule" for real estate buys.

The businesswoman noted that she has always tried to follow this rule, even when it means spending more money on a home than she could necessarily "afford," insisting that it has never steered her wrong in the past.

"My rule is: Every home I ever bought, I bought the best location I could possibly afford and very often couldn’t afford it," she explained. "I was always afraid I couldn't sell it. Later on, if it’s the best location, you can always sell it."

Corcoran also noted that her success in real estate investment helped her to learn several very valuable lessons in terms of how to operate in business, explaining that the key thing most people forget is that you're meant to "have fun" with the people you're working with.

"Have fun with the people. If you're not having fun with the people that work for you, you're not going to get a creative force. ... The minute you have a good idea, you should run with it," she explained. "Most people analyze the idea and take the time. [But] if you think of it, you run with it…"

This idea should be at the heart of every business decision, Corcoran added, saying that "hiring happy people" is a big step toward ensuring the success of a company—and the well-being of its employees.

Positive attitudes are also a shared skill that she's seen in many of her most successful "Shark Tank" entrepreneurs, even those who have seen their initial business ideas flop just months after securing their initial investment.

"I’ve had entrepreneurs I’ve invested in where the business has gone bust within like a year, and they've reinvented themselves and started a different business. I’ve been a partner to them.

"They always land on their feet. They keep trying. It's the most important trait. If I have an entrepreneur that I know can come through hardship, I know I'm going to make money, period."

The mother of two said her focus on fun and positivity carries through to her personal life as well, especially when it comes to spending time with her friends.

Veering away from real estate topics, Corcoran was asked about her ethos surrounding birthday parties, prompting her to share a sinister prank she pulled on her loved ones after learning that they were throwing a surprise celebration for her in honor of her 70th.

"I said, ‘I'm going to turn the tables and surprise them,’" she revealed. "So they planned their party at my house, and they were upstairs. I had a duplex at the time. The last apartment, they were upstairs waiting for me to come in from the airport.

"Then my brother chased 'em all downstairs. He said, ‘My sister's coming in—downstairs quick. Go downstairs.’ They ran downstairs. They walked into the living room and found me dead in a coffin."

As it turns out, Corcoran's 70th birthday was one of the final she would celebrate in that penthouse property, which she and her husband, Bill Higgins, sold for $13.5 million in October, having secured a buyer for the property within a day of listing it.

She explained at the time that the couple had chosen to part ways with the property because Higgins was no longer able to navigate the stairs inside the home.

But they have by no means downgraded—in fact, their new dwelling, which they bought for $16 million and is also located on the Upper East Side, is perhaps even more lavish than their previous abode.

In a recent TikTok video, Corcoran walked through the sprawling pad, showcasing the expansive floor plan, wooden flooring, and high ceilings.

She confessed that she was already "so in love" with her new home, which comes with enough space to host the entire "Shark Tank" crew.

However, the TV tycoon did share that she wanted to make some major renovations to her home.

"Ready for a renovation? I’m so in love with my new apartment, and I can’t wait to give it a proper makeover," she wrote in the caption of the clip. "I’m trying something new this time and bringing you along for the ride. So tell me, what would you change?"