Just Sold: 98 Union Penthouse
I am thrilled to share that www.98UnionPenthouse.com is now officially sold! A huge congratulations to both my seller-clients and my buyer-clients on this successful transaction! The 3 bedroom, 2.5 bath home spanning 2,181 square feet sold after 23 days on the market while comparable sales were taking 55-60 days. Below I outline the tailored sales strategy that was built to garner success:
January 16th: After several discussions and negotiations, the sellers accepted my listing proposal strategy that included $39,000 in listing preparations. I do not believe the condo would have sold for more than $2.050 million without this preparation cost (investment) by the seller, which secured a $111,000 return on home improvement/staging investment. Nor would I have been able to market the property to the global extent—largest buyer pool—that I did.
January 16th to February 23rd: During this time period, I anticipated and prepared for problems and objections, researched and performed due diligence, had the title paperwork reviewed, met with condominium building management, spoke with HOA management company, completed a home inspection, had the HVAC serviced, met with the city of Seattle, met with a builder that renovated other units in the building, prepared a comprehensive disclosure package for prospects (e.g. HOA details, air rights, zoning, height restrictions, new developments in proximity, comparable sales, etc.).
January 28th: Building Management and HOA accepts remodel application for interior improvements.
January 30th to February 15th: Improvements and staging are completed.
February 16th to 22nd: I invested $10,500 in tailored marketing strategies. The 2 films received over 100,000 views online, which excludes the thousands of views on Zillow, SothebysRealty.com, LuxuryEstate.com, James Edition, Juwai (in China), Mansion Global, etc.
Behind the scenes filming from Helicopter.
Film no. 1: Property View and Location Film
Film no. 2: Lifestyle & property Film
Sent to all the homes (approx. 20,000) of Wall Street Journal subscribers in Washington state.
February 23rd: The home is listed on the market for sale. I brought flowers almost weekly to the Building Manager/Concierge and staff, which are wonderful, while hosting 5 open houses in 23 days with about 45 showings. It was disconcerting there were only 7 broker showings and no interest.
March 10th: I met the condominium buyers at an open house. They saw the property film on social media and had no idea before then that they wanted a condo. “What do we do now?” they asked. I began guiding them through the process by telling them to see the market and tour as many condos as possible. I sent them the disclosure package, which included (but was not limited to) comparable sales, renovation/upgrade value based on potential data, a referral for a builder that has renovated other condos in the building, introduced them to the building management & concierge team, etc. while timely addressing their questions and concerns that arose as they considered the materials and their purchase decision.
March 16th: 98 Union Penthouse went under contract.
April 16th: A new chapter began for the buyers the day after their 27th wedding anniversary. They were so excited they seemed like teenagers at the prospect of their next adventure in this new home.