Sold $39,100 above asking price
How we sold this top floor condo in the East Village
How we do it
Listed for $674,900. Sold for $714,000
This listing at the Park Blvd West building, in Downtown San Diego's East Village, was fun to work on. We were actually referred this client, by a Compass agent up in the Bay Area. She found us online, and reached out due to our experience selling in Downtown.
After the initial consult, we discussed the pricing strategy. We had evaluated recent comparable sales within Park Blvd West & Park Blvd East, as well as a couple of other similar buildings nearby. We settled on $674,900, which actually would have been a building record, even at that price. We knew that the inventory in 92101 was historically low. We also knew that with the repairs & staging that we were going to do inside (the prep work), our listing would capture a lot of attention, so we felt very confident about pushing the price here.
Ultimately, we ended up with MULTIPLE showing requests, even before going live on the MLS. By the first weekend, we had 6 offers in hand. After a quick multiple counter round, the seller had some options, and was able to select the buyer who provided the best price with terms that were favorable to the seller. Heres how we did it.
I mention the multiple offers specifically in case you're an owner considering selling your condo at Park Blvd West (or East). We have some contact info with ready, willing, & able buyers that are looking in your buildings.
How we did it
Here's a breakdown of our exact strategy we used to generate extraordinary results for our client.
Pre-Listing Consult
Upon meeting with the seller (Mark), we took a tour of the condo. A long term tenant had just moved out, and the home was NOT ready to go. There were numerous repairs that were needed. We also recommended new paint throughout, and new carpet in the bedrooms. We scheduled out our handyman & painter to get on it, and had it done quickly.
We offered our free Concierge service, which fronts the costs of any necessary pre-listing work (painting, handyman, staging, landscaping, etc), but this seller decided to tackle it out of pocket.
Staging
We partnered with a new staging start-up, Guesthouse. Guesthouse sends a designer out to the home and does an initial walk-through. They then send over a couple of design boards (like Pinterest), and we chose a style. All of the furniture is high-end (not staging furniture), and can be purchased by the incoming buyer if necessary. With this particular condo, we definitely wanted to show off the second bedroom as a home office, and get furniture up onto the rooftop deck to show what could be done with the outdoor space.
Showcase Listing Video
We partnered with our videographer to showcase this home with a "showcase" listing video. We wanted to tell the story of the neighborhood itself, not just the specifics of the home. When you're buying in Downtown, you're buying the "lifestyle" just as much as you are buying the 2 bedrooms & 2 bathrooms. This one was a tad innovative, as we shot the video completely in a vertical aspect ratio. We've observed that over 90% of our video views are now coming on mobile devices, so we want to reduce any friction in the viewing experience.
Digital Advertising
By this point, with our photography & video work done, we were able to roll out our digital & print campaigns. This is where the secret sauce comes in. With this home, we ran a full gamut of outbound ads, including:
Facebook Lead Ads
Instagram Ads
YouTube "Pre-Roll" Ads
Google PPC Ads
Postcard Mailers
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