08/30/2024
I rarely post "success" stories on these platforms. So let's change that.
With their new house in sight, we began the process of preparing and listing their home for sale. Over the past 32 years, they have cared meticulously for their house inside and out. This made the preparation process quick and easy.
But the real success of this story comes from the PRICE at which we listed the home for sale. We started by looking at the sales activity of their neighborhood specifically. We had a good sample size of data, and listed for $439,000.
Here's where it got fun. A house was coming on market just down the street with one more bedroom for $490,000. Was that house that much better? Was an additional bedroom worth $51,000 more. We knew the data of the neighborhood. We were confident we priced the home correctly. Both homes ended up going live on market the same day.
The night we went on market we had an open house, and it was buzzing! Lots of neighbors and folks from out of town came to see this house. We knew it was only a matter of time before offers started to come in. By Friday morning, we had our first offer. We ended up having a second open house on Saturday morning, and by the end of that open house, we had 5 strong offers. It was now time to chose the best one.
The best offer, in this case, wasn't the one with the highest purchase price. We looked at the net of each offer and the one we decided on brought the sellers the highest net value.
Now fast forward to today as I am writing this. Remember, that other house that came on market the same day? Many of the people that came through our listing, also went through the other house. While they had similar traffic through that first week, as of today, it is still on the market 50 days later.
I don't know how long that other house will stay on market. They will likely reduce the price once again. I think it will probably sell for about $460,000. I believe they priced according to an outlier. As a result, they are having to wait to accomplish their goal, because of it.
But my sellers don't have to wait. In fact, they get to use a holiday weekend to move into their new home.
Who's next?
