The Problem

The owner planned for this house to be the forever home for herself and her aging mother so it was "over-improved" against the comparables in the Anastasia Lakes Subdivision, where homes have a very consistent aesthetic.  Even before the improvements, the home was one of the few neighborhood homes that had a marshview and the only home to have a marshview and a pool.  Beyond that, the renovation and accommodations made for aging-in-place were not necessarily changes that held broad appeal for most buyers in our market in this price range.  The Seller's mother passed away right before the renovations were finished and our Seller didn't want to be there anymore, the problem was that she wanted a high sales price that was was hard to justify against the neighborhood comparables.  

Details

How long it had been on the market before you took over

- New to Market

Number of agents they used before you

- 0

Year Home Sold

- 2018

Selling Price

- $540,000 (in a neighborhood whose average sale price was $327k)

Solution

Sometimes having the nicest house in the neighborhood can be a problem

Because this home was such an anomaly in the neighborhood, we elected to treat it as such and focus on what made it special--the view, the pool, the high-end finishes and appliances, the construction, and ultimately the unique age-in-place nature of the home.  

The homeowner is an artist so the home was full of bright-colored furniture, accessories, and rugs.  We decided that a prospective buyer would appreciate the artistic nature of the home--hand-crafted chandeliers, for example, so we elected to stage it with very simple pieces so the craftsmanship of the home's finishes could really be noticed and that prospective buyers didn't get distracted by furniture and art.  

We chose to market this home differently than any other home in the neighborhood.  We took out a full-page ad in a local social magazine, as opposed to real estate publications because we wanted to sell the lifestyle.  A million-dollar view, gorgeous pool, concrete block/impact window home, and a stunning interior.

We also held one of our Sunset Soireés:  These are essentially casual cocktail party open houses where we invite our sphere of influence, 600+ local agents and brokers, and the Sellers invite their friends, family, and neighbors.  These events have gained a following in town among the movers and shakers--who doesn't enjoy free food and beverages in a beautiful home admiring a waterfront sunset?  These events give our sellers lots of feedback on the home, its presentation and pricing, and help spread the word around the community.  Here's a link to the Facebook event:  https://www.facebook.com/events/2906038049409947/  

We had about 25 attendees.  

We also made a list of all the upgrades and their costs so buyers could literally see the value that this home offered.  

We showed this home as agent-assist, meaning that we met every single buyer at the home with their list agent, so we could ensure they were made aware of the value the home offered.  

And lastly, we met the appraiser there and made sure the appraiser had the list of upgrades so we could ensure that he had all the data he needed to value the home.  

Results

Client Review