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Case Studies / Knol Apartments
sold
Knol Apartments
Full-Price Sale Amid COVID-19 Restrictions
- Overcame unprecedented COVID-19 restrictions to secure a sale
- Adapted marketing strategy to market property and tour buyers remotely
- Attracted a unique §1031 buyer in search of a turnkey investment opportunity
- Achieved seller’s pricing expectations within a 63-day contract-to-close timeline
Case Study
Challenge
In March 2020, our client placed Knol Apartments on the market just days before the COVID-19 pandemic forced a complete shutdown of Seattle. Two days after launch, the city enacted restrictions making property tours impossible, and physical access to the building was off-limits. With in-person interactions limited, we had to act fast to maintain visibility and attract buyers in a market facing unparalleled uncertainty.
What we did
Within days, Dylan Simon pivoted our strategy to a fully digital marketing approach. We created high-quality videos of Knol Apartments and virtual, 360-degree unit tours to highlight the property’s standout amenities and recent renovations. By tailoring our marketing strategy to a purely digital campaign we maintained momentum in the marketing process, attracted multiple potential buyers, and instilled buyer confidence in the property despite the absence of in-person tours.
Result
The efforts of our revised strategy attracted a §1031 buyer aggressively seeking a turnkey investment amid limited market opportunities due to COVID-19 suppressing the marketing of most other properties. We successfully secured a buyer that met the seller’s pricing expectations and the transaction moved swiftly, progressing from contract to close in just 63 days.
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