Homes are like snowflakes. ;) Every one is truly unique. The practice of “Positioning Property” and determining actual “ROS” is a skill set that must be honed. Cookie-cutter approaches get cookie-cutter results. Your home deserves better!
This client, living on the West Coast, was fierce and unwavering in their demands. They had a 2 bed 2 bath unit on the 3rd floor with a terrace in a doorman building in Ditmas Park. They stated from our first conversations that they wanted a certain amount, $985,000, or else they would not sell. Heard.
What I knew: The building record for 2 beds 2 baths with a terrace was $955,000, a previous listing of mine that had been renovated to the nines. More than $150,000 was invested in renovations, with a better layout in a far better market in 2021.
$985,000? “This better be a spectacular unit,” I thought. I had not seen the target property yet, but I knew $985,000 in this market would be challenging, if not impossible.
I arranged a walkthrough of the unit to assess. Tenants were in place and woah! This was a home that had been lived in HARD. It was in rough shape and in need of an entire facelift. At this point, $985,000 was a pipe dream. We'd be lucky to eclipse $900,000.
If I wanted to sell this listing, I would need to work some serious magic.
My approach in evaluating and determining the appropriate strategy before listing a property is fairly simple:
- Lead with empathy (& DATA!)
- Ask great questions of the Seller.
- What are their motivations? Timelines? Expectations? “Pie in the sky” wishes?
- Listen.
- Assess the space.
- Anticipate visual friction.
- “What do I see, what do I hate, what do I love?”
- What can we control? What can we influence?
- Create "Best, Better, Good" scenarios and plans.
- Evaluate ROI or “ROS” and factor in "Life Disruption.”
& then…
- Execute the plan and deploy my trusted network of Home Experts to set the stage for hitting the open market.
My client wanted to maximize resale and was determined to do so by any means necessary. They chose to follow my “Best Scenario” plan to a T. The client was in California. They trusted me, in Brooklyn, to grind on their behalf.
For three weeks, I oversaw and coordinated all the apartment repairs, GC work, painting, cleaning, and staging execution. It was flawless. A white-glove, full-service transformation.
We listed the unit for $995,000 and within 10 days had a full-price offer surpassing my previous building record. This was one of those “damn, we did it” moments. The client was shocked, but elated! We made magic happen.
For me, the moral of the story is not so simple.
Staging Matters, yes. Timing also matters. How you market matters. Pricing matters. Interest rates, oh, they matter. But a client who went for it and listened to the counsel was crucial, not to mention a team of experts who executed perfectly. And me… well. I am a broker, responsible for guiding and advising on how best to position and sell homes for my clients. Delivering incredible results goes beyond “just doing the deal.” Having a vision for what could be — a gut feeling, a deep sense — are those intangibles that I try to channel to deliver world-class service. That is the bar. Anything less would be uncivilized.
Here’s a piece of the actual email I sent to this client laying out the “Best, Better, Good” Scenarios:
