Maybe you will remember my post Using the last of our in stock inventory - trying to pull it all together... Well, I just attended an agent open house for this property on Thursday and was told when I got there that the property was actually under contract!!!!  She told me that they received the acceptable offer within 19 days of re-listing but she didn't want to tell anyone because she had already planned the open house, hired the caterer, etc.  I was also told that there had been an offer within 48 hours of relisting but that it hadn't worked out. 

So what were the big changes that made this such a success story?

1)  The home had been originally listed slighly higher than the market could bare.  It was not horribly inflated, but the higher end of this property created few potential buyers. 

2) The original LA didn't post updated photos of the home.  This was a new construction project and during the various stages of completion right down to the actual completion, the photos were never changed.  Buyers didn't know the home was completed and beautiful.

3) The home was relisted with an aggressive marketer.  This particular agent (Ann Coggiola of Carolina One Real Estate) is on top of all aspects of the home sale.  We stage a lot of properties for her and virtually none take longer than 60 days.  She is honest about the list price and what needs to be done then makes sure it all gets done!

4)  The home was staged!  When I was told of the contract the first thing she told us was that the staging sold the home.  She had been told by everyone who walked through the home that the staging made a huge difference and asked for our names & information.  (At the agent open house we gave out tons of info and expect to get a lot of business from this.)

5) The home was priced properly at the beginning.  I know this sounds like #1 again, but really it's not.  The home was originally listed on 10/18/06 for $349,900.  The price was dropped several times finally reaching it's all time low of $299,900.  They were chasing the market.  By appropriately pricing the home, after staging and having the mass marketing ready the new list price was $305,000.  They also are building this same home on two other lots which are listed for $315,000 (the price differential is because you still get to choose your options). 

The slight price adjustment more than paid for our services and best of all the home is under contract now!  It just goes to show, it isn't always about price...

Here are some after photos:

We are constantly hearing how the market is really tough right now.  We get several of these success stories every week.  The truth is that now is when the big kids really learn to play ball.  If you want to move the home, it simply isn't enough to just put a sign in the yard and a listing in MLS. 

The truth of the combinations always hold true, location, price and condition.  If the home isn't well marketed however, no one will really know if they are all working in unison!  A price reduction won't always sell the home.  Staging an overpriced home may work, but will take an extended period of time, in effect losing what you should have gained.  Working things in the right order will pay off - no matter what the market is!