I got a call from a potential client who was selling a property and wanted to know what I thought of the advice he had been getting. The other agents he’d spoken with were telling him to market the property for its value to developers and to list at a lower list price than I thought was reasonable. My recommendation was to market the property not just to builders, but also to potential end-users. This would mean not shutting out when I saw as a good 30% of the market, based on some pretty broad assumptions about other people’s interests. My feeling was that he could do much better with the minor cleanup, some staging and a higher list price.
The caller decided to engage my services. We staged the house according to my suggestions and listed it at the price I recommended.
IN THE END
On offer day, we ended up entertaining 10 competitive bids. After several hours, we had an offer that came in at 300K over asking price. You’d think that would be the end of the story, but as sometimes happens it was not. On my way to sign the offer I got a call from another agent who had an additional 50K to put on the table. Timing being everything, she met me at the property with a cheque, and my client was happily surprised by the last minute bump.