real estate Archives - Seattle Condo Broker

Just Sold, Genesee Townhome, Nearly 18% Above The Asking Price

Seattle Real Estate Case Study

Just Sold | 17.65% Above Asking Price
4108 37th Ave S #A, Seattle Wa 98118
Asking Price $425,000
Sales Price $500,008

Situation | Objective

Our client contacted us to run analysis on renting their home versus selling it. We carefully presented both sides of the argument and the client decided to rent and build equity. We found them a home to purchase and ultimately, they decided to put the home on Craigslist. After a few months of trying to rent, we were given the opportunity to Sell the home. After a thoughtful analysis, we agreed to a price of $425,000.

Marketing and Sales Strategy
If you have read about our marketing strategies before, you would have known that we customize a unique sales and marketing strategy for each one of our listings. In this case, we knew we had to appeal to millennial buyers who would LOVE the opportunity to be close to light rail for an easy commute to work. We customized a marketing strategy and moved forward with staging and professional photos.

Result
We successfully procured 6 offers for our client. During the first week on market we had to think and act quickly as another home with more square footage and an extra bedroom hit the market just 4 blocks away. We adjusted our review date and were able to reach buyers who were not successful in bidding on the competing property. This allowed us to attract more interest and offers on our home. Through multiple rounds of negotiation, we were able to drive the price up to nearly 18% above the asking price.

Want to hear more about this sale? We would love the opportunity to help you or someone in your life looking to buy or sell real estate.

See more photos here

Seattle Condo Case Study

Just Sold | 20% Above The Downtown Seattle Average
Continental Place | Unit #1401
Sale Price $420,000

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719

Situation | Objective
Our team took on a very interesting challenge. We were given the task of selling a 512sf unit at Continental Place. The seller challenged us to get a higher than market price for the unit. This was especially difficult as the condo had seen very little updating over the years. We took on the challenge and in less than 60 days we found a buyer who was willing to purchase the unit at a premium. At $820psf, we raised the bar. The Downtown Seattle average was just $681psf last month.

Marketing and Sales Strategy
The custom marking plan deployed had to be near perfect. Whenever you list a property over market value you have to expect push back from the market. Understanding our clients objective, meant that we had to meet the market with a clear and concise message. We had to lean on market indicators that would help to “price in” what we felt the value of the condo was and the direction it was going. Buyer’s were going to reject our pricing model, so we had to meet those objections with a thoughtful perspective on pricing/offering. We used inventory, the strength of the building, the tenure of the door staff and a number of other key factors to justify an above market ask.

Result
We don’t mind tooting our own horn on this one. The numbers speak for themselves. Event though it took us nearly 60 days to sell the unit, we procured an offer that was $820psf. That is 20% higher than Downtown average last month. It was a huge success for our team, but more importantly for our seller!

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719

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