Recently Mark and I were asked to take a look at a listing to see why a home wasn’t selling. It isn’t an unusual request, as people get frustrated and want a second opinion if their home is sitting on the market, and want another agent to tell them why. The home was at Morningview Drive located in a great part of Riverside. It was listed by the investor who had flipped it. I told him I would provide my opinion by the end of the day.
The home was priced at $559,900 and the pictures did not show it well at all. We went to the property to find that there wasn’t the appropriate lock box on the property, which would limit showings. There were no open houses, and there was a large yard full of construction debris and dead trees. Not showing the full potential of the property, or the price they were asking for it.
Mark and I went through the property and created a list of what needed to happen, using our Value-Driven Approach. We also looked at the price and felt comfortable that we could sell it at $589,900. We also looked and saw that it wasn’t being syndicated anywhere else like Zillow, Trulia or Redfin. We also felt that it needed staging.
Mark and I walked all the competing listings and came up with a detailed plan, and then we contacted the seller. The seller liked our ideas, and decided to list his home with us. It was right around Christmas time, so not a ton of buyers in the market and the buyers that were out looking were serious. We ordered the clean up of the yard, the little repairs inside the home, had the home professionally cleaned by the seller, and staged the property. We did professional photos and video, and had key drone shots completed. The yard was dirt and the pool that was there had been buried. Not exactly the best way to handle the pool, so that became a challenge later on.
We completed social media advertising and did a complete email blast. We created a custom website and had professional collateral done. We sent out over 1500 direct mail pieces. We did Zillow and Trulia advertising, and had a custom video made of the property that we had set up on our Youtube channel. Then we did our open houses. People loved the home but were afraid of the cost to landscape the yard. We shared this with the seller and then came up with the promotion of including the landscaping. That is when the home took off. From our open houses, Mark sold 2 buyers on the home. There was a bidding war and the home eventually sold for $605,000. $45,100 more in price than what it was listed before.
The seller was baffled by this and elated, so he decided to use us on his other properties. The buyer decided they didn’t want the landscaping as part of their offer either so in the end, it turned out perfectly. The home closed escrow in 30 days without incident, and the buyer even accepted that the pool was buried and not removed.
The critical key part of this whole equation is that once we laid out our plans to the seller - the seller then completely bought in to our approach, and the results show! The seller did everything we asked of him. If you would like to learn more about our Value-Driven approach, we have written a book on the subject, and offering free copies to our clients. Go to www.Book4FreeHelp4Charity.com. We will send you your free copy right away!