Last month we were introduced to a realtor with a listing in Boston's South End at Laconia Lofts- a very up and coming part of Boston. While the property had been staged and fixtures were all up to date, this property hadn't budged for 140 days. Needless to say, something had to be done and lowering the asking price was not something the homeowner wanted.
We met the realtor at the property and he introduced in the potential buyers who were interested in the space. They were unsure if they could add a master bathroom and a full bedroom without sacrificing too much of that open loft feel. We quickly pulled out our tape measures and drafting papers and started to sketch right then and there. We got a general idea of how to approach the design, but suggested to the client they do what we call a Feasibility Study.
The Feasibility Study is a paid service, generally between 500 and 1000 dollars depending on scope. In this service we provide sample floor plans and corresponding budgets. These two things give the buyer confidence in moving forward with the purchase.
The buyer agreed the service made sense and this is exactly what happend at Laconia Lofts. The buyers saw the floor plans and budgets put together and were amazed how the floor plan could remain open and they could add the rooms they needed. They put in their offer THE SAME DAY!
The Feasibility Study is a vital tool every realtor should have in his back pocket. If you ever have a buyer who is uncertain about the design potential of a space, or if you want to show this potential to better market it, then the feasibility study IS the solution.
We look forward to helping you sell more homes!
Comments(2)