Marketing Matters

P.T. Vineburgh - 05/14/14

Even in what is a historically lopsided seller’s market, having a comprehensive marketing strategy pays huge dividends, according to the Roof Engine blog posts, one of our partners. Just ask the seller of our recent listing at 26 Egmont St in Brookline. The listing’s aesthetics were examined, staged, and presented in a way that optimized its appearance both online and in person. A spacious unit with layout flexibility was photographed with multiple usages of the “flex” spaces, to appeal to a wider range of potential buyers. Whether the buyer pool wanted formal dining or the informal family room, 3 true bedrooms or 2 bedrooms plus a den, the unit was able to be shown via photos with all of these options portrayed.

The other key element to the marketing was offering the buyer choices related to the highly desirable roof deck option at this property. The deck was fully approved and permitted, but not yet built. We were able to offer the property for a lower price “as is” with just a transfer of the plans/permits, or we offered the ability to deliver the deck built at a higher price. This strategy enabled the seller to be listed in a more attractive lower price point, but still potentially reap the upside of adding the value and constructing the deck themselves for the buyer prior to closing.

With all of this planning and the opening of options it was time to come on market. We consolidated showings to 2 days and a 2 hour Sunday open house over the same weekend with offers due by noon on Monday. With the immense traffic (+-60 viewings) this created a very competitive atmosphere and yielded an end sales price of $100K OVER the asking price. The offer had no contingencies, other than the deck being built (for the pre-determined extra amount of money). This was a record setting price on this street and a price+-50% higher than had every been seen in this condominium of 35 units, which just happens to be the oldest condominium association in Massachusetts!

Marketing Matters

See what the Vineburgh | DiMella Team can do for you!