During the course of writing this blog, I’ve given many compelling reasons for consulting/hiring a broker to sell your property. Today, I am writing about the most important reason of all; achieving top market selling price!
Earlier this year I received an inquiry from Steve Johnson, partial owner and resident of 38 Butler St in Cobble Hill Brooklyn. He and his family had decided that it was time to sell the building after owning it for more than half a century. When I called him, he was very reluctant to see me because he said he had received a “very serious offer” and was preparing to have his attorney send a contract to this “serious” prospective buyer. I convinced him that there was no fee or obligation on his part to meet me for a consultation, so I scheduled an appointment to meet him the following afternoon at the premise.
Upon arrival, we sat down and had a chat. I learned that he had received a letter from an investor who promised to buy the house “all cash” , close quickly, with no brokerage fees. As a neighborhood resident, I receive such “offers”in my mailbox on a regular basis. The offer was for $2,000,000 and Steve and his family were very pleased to receive such a generous no strings offer. After inspecting the property, I informed Steve that I thought I could get him hundreds of thousands more for the property, and convinced the family to hire me on a short term exclusive.
I listed the property the following week at $2,500,000, had a bidding war and wound up closing the sale for a net of $2,700,000 to the owners, $700,000 more than they would have sold it for if Steve didn’t sit down with me for an hour!
I’ve been selling real estate in Brownstone Brooklyn for more than 30 years and have a deep database of clients searching for homes in the Carroll Gardens, Cobble Hill, and Boerum Hill corridor, and with the market conditions as they are, with the proper marketing plan, properties can sell at uber premium prices, higher than you might ever imagine.
On a daily basis, as I do marketing analysis for my clients, and it never fails that I see a property that has recently closed at a substantial discount to other similar closed sales, victims of not having a broker consultation.
No matter how savvy an investor you are, or how up to date you believe you are on pricing, a layperson is subject to making mistakes; overlooking valuable amenities, under-valueing air rights, builder trends, FAR values etc., that could prevent capturing top market value.
So if you are ever considering selling a property, do yourself a service, call in a local, knowledgeable , experienced broker before you commit to a sale. It may save you big time!
#sellinginBrooklyn #brownstonebrooklyn #topmarketvalue #gettingthemostfromyourhomesale