The sale of 7 Copperfield Lane in Franklin, MA was an outstanding success. The house found a buyer quickly, and the $520,000 selling price was $20,000+ over the $499,900 asking price! (You can review all of Warren Reynolds’ recent listings and sales here.)
Seller thrilled with results
The ecstatic home seller had the following to say about her experience with attorney and real estate broker Warren Reynolds:
A strategy for success
The sale of 7 Copperfield produced such fantastic results because Warren and the seller worked together to properly position the home to sell quickly and for top dollar. While the home had received many updates over the preceding seven years (including a new kitchen, replacement windows, new hardwood flooring and a new boiler), the bathrooms were dated and the entire interior needed freshening. The basement was filled with years of personal possessions and one area on that level had a strong pet odor.
Warren and the seller formed a team to get the home ready for market without the expenditure of a lot of time and money. To make the process as easy as possible, and still demonstrate the home’s potential to buyers, Warren suggested that the seller freshen only the master bedroom, while leaving the rest of the interior as-is.
With the help of a skilled tradesman referred by Warren, the master bedroom’s heavily striped wallpaper was removed. A coat of neutral paint did wonders to the room. The worn wooden medicine cabinet in the master bath was painted white. This was a low cost cosmetic upgrade that made the master bath look a whole lot better.
In addition, Warren contributed physical labor to help the seller de-clutter the basement and eliminate the pet odor by removing old area carpeting the seller’s dog liked to rest on.
Power line transmission corridor was a challenge
There was one feature that the seller and Warren could do nothing about in terms of elimination or mitigation: the rear yard of the property abutted a large electric power line transmission right of way.
The power lines were clearly going to be noticed by many buyers. There was certainly no way to physically eliminate that challenge to a successful sale!
Compelling asking price
Warren advised the seller that the best way to neutralize potential objections to the power lines was to price the home attractively. He suggested that the price be kept below $500,000 in order to make the price seem compelling. The plan was to draw immediate interest from price-sensitive buyers who would overlook the power lines because the home offered so much for the money. The seller thought that made sense and set the asking price at $499,900.
Warren’s marketing featured professional photos, a 3D tour with floor plans, and a highlight video. He ran targeted ads featuring the home on YouTube, Facebook and Google. You can see the landing page for the home here.
The video is short and invites further investigation of the property. Video sells homes in the digital age!
Follow the hotlink here or in the image above to experience the power of 3D marketing. Buyers can virtually walk through the home at any time of day and night. This reduces the number of physical, in-person tours a home gets, making living in a home for sale much easier.
Professional photography does a lot for just about every listing. Yet a lot of agents still take their own pictures! In the digital age, you communicate the most visually. Attractive photos help a home make a great first impression. With 7 Copperfield, Warren could focus on the gorgeous in-ground pool! It was a big benefit the marketing could capitalized on. There weren’t many colonial homes with pools for sale in the region asking under $500K!
These floor plans come with integrated photos, so viewers can see the interior of every room by tapping icons in the plan. The plans can be uploaded to the Multiple Listing Service, which propagates them to hundreds of real estate websites, including Zillow, Realtor.com, and Trulia.
Strategy, pricing and marketing all came together the first day of showings. Warren held open houses on two consecutive days. There was strong turnout at both opens. When a buyer sees other buyers at an open house, it fosters a sense of competition. When a house is priced to market and prospective purchasers see there is competition for the home, that leads to higher offers. The best offer 7 Copperfield received was for $520,000, a full $20,000 over asking!
Because of the fear of competition for the property, the buyer with the winning offer felt fortunate to get the house. This paid extra dividends at the home inspection. The buyer made no repair requests, sought no price concessions. He ended up taking the house in as-is condition. This was another big plus for the seller!
If you own a home with “challenges”
The above case study shows how a home seller will benefit if seller and listing agent work together, before the home is actively marketed, to identify and then address the likely objections buyers will have to the property. Such a strategic approach, coupled with cutting-edge digital marketing, will result in a faster sale and a higher selling price. The payback for the home seller is real!
If you own a home with condition or location “challenges”, contact Warren Reynolds via the form below. He will devise a home selling strategy and create the great digital marketing that will get you sold quickly and for more money!