Case Studies / Seventh & James
Seventh & James
From Challenges to Triumph
- Successfully marketed a previously unsold property located amidst locational challenges
- Showcased the property’s future potential creating buyer excitement
- Generated a buyer pool of over 200 interested parties, conducted 17 tours, and secured 12 offers
Marketing Seventh and James listing was a complex one, primarily because it involved relisting a property that had struggled to find a buyer in previous attempts. The challenges were not solely related to the property itself but were intricately tied to its location. This area had been grappling with a multitude of unique challenges, further complicating the sales process.
One of the significant challenges stemmed from a nearby homeless encampment, which had not only created concerns about security but also affected the perception of the property’s desirability. Additionally, the property faced the hurdle of a misperception regarding the presence of audible freeway noise from the units. This perception had hindered potential buyers from fully appreciating the property’s intrinsic qualities and value.
Addressing these challenges required a strategic and creative marketing approach that could both overcome negative perceptions and highlight the property’s potential.
What we did
Our primary goal was to attract potential buyers to visit the property and effectively showcase its inherent qualities while narrating a captivating story about its future potential. To achieve this, we developed persuasive marketing materials and made a concerted effort to reach out to every possible buyer nationwide.
As a result of our marketing and outreach endeavors, we successfully cultivated a substantial community of potential buyers who became genuinely excited about the property’s future prospects, painting a compelling vision for its transformation.
We curated a pool of more than 200 potential buyers, organized 17 property tours, and presented our client with 12 offers. Through three rounds of competitive bidding, we managed to drive the pricing up to an impressive five times our commission’s value, ultimately securing a top-tier buyer within the market.
Despite taking place during a highly volatile interest rate environment, the sale was completed in under 60 days. The sale reached a substantial $26,900,000, equating to $280,208/unit and $403/square foot, underscoring the property’s exceptional market value.