All real estate sales have their own stories and this is a good one regarding getting something sold.
A month or two ago, Meghan Hesley and I went on a listing appointment at 1020 Laurel Crest Drive. The 6,000-square-foot home had been on the market for a year with two different listing agents/brokerages. Meghan and I went over and assessed the property and situation and then proceeded to sit down on the back deck with the sellers. Of course, they asked us our opinions and what they should do.
We spoke for a good while about thoughts, strategies, marketing opportunities, and some of the things that helped sell a vacant lot a few doors down for almost $800,000 some months ago.
Over the year, the asking price had been lowered a few times, and there had been some good traction, and also some lull times.
The first thing we told them is that it was imperative to hire a hyper-local REALTOR. One that the co-broke REALTORS have no problem texting something like, “Hey y’all, what’s the what over here?” or “What do you think about _____?” and actually know who they are communicating with as we all have different styles, inflections, tonalities, hustle points, et al. They did.
The second thing we advised was Meghan verbalized that we should raise the price. “RaIsE the price?! “On this, yes,” we replied. They had never heard of such a thing and wondered if we had ever done it before. I said that we had and if memory serves, it has worked out every time. Now, to be sure, it’s rare that we suggest this, but sometimes it can be successful. We told them, “If we’re going to be the most premium baddest ass thing out there, then let’s look and act like it. Let’s flex. They did.
The third thing we told them to do is commit to compensating the buyer’s representative for what he/she is expecting to make. They said, as most sellers respond, “Aren’t they making enough?” Our response was, “They are obligated by their fiduciary to do what is in the best interest of their client. That said, $2M buyers don’t come along every day in this market, so they are going to hope their client chooses the house that will pay them for having/representing this level of buyer. If you don’t, they may ask the buyer to make up the difference and that is not going to put your house on the top of the stack.” They did.
Next discussion: “When do we put it on the market and what about pictures and whatnot?” My response was, “I think we should put it on this Monday (I think we met on a Thursday) with no photos to start.” They responded, “Really? Why?” I replied, “Let’s create a buzz of wonderment and curiosity. Sure, some folks will just go online and type in the address and say to themselves, ‘Oh it’s that house. I know that one. That said, you never know whose inbox it may hit out there.
Obviously a lot more went into this but I just want to tell some good stories where they are due. Some stories are teaching moments, too, as I’ve learned over the years that ‘Sharing is Caring.”
If any you or anyone you know would like to discuss buying, selling, or investing in real estate please call/text/IM or email us. Meghan’s number is 803-665-8844 and her email is Meghan@TheNeighborhoodRE.com.
Thank you!
Franklin Jones
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