As we approached the fall of 2023, interest rates surged, nearly reaching 8% as we readied this home for the market. This spike in interest rates has significantly squeezed supply while simultaneously dampening demand, making homeownership particularly costly for those reliant on financing.
Having worked on over 600 successful real estate transactions over the past 6 years on the Monterey Peninsula, I have a deep understanding of what drives sales of certain homes at certain price points and the origins of many potential buyers.
Targeting buyers seeking a second home would substantially enhance our ability to secure a premium sales price for this property.
Imagine managing renovations, coordinating repairs, and selecting finishes for a property hours away. This underscores the necessity of presenting the property in immaculate condition. Hence, extensive efforts were made to ensure the property resembled a brand-new home before hitting the market. Second-home buyers are often willing to pay more for a move-in-ready property, and this became a central strategy in our pre-listing preparations.
Effective presentation tools are indispensable. By collaborating with top-tier professional photographers and videographers, we captured the property's essence through stunning visuals. Additionally, a high-quality 3D scan of the interior was prepared, facilitating immersive digital tours of the house, enabling measurements of spaces, and aiding in furniture selection.
Once the home was ready to list, we then created a marketing plan that was unique to the property, vital to maximizing reach and engagement.
- Email Marketing - Targeting Buyers, Agents (Compass, Referral Network, Luxury Agents, etc,)
- Youtube video and ads promoting the property to a wide range of people, both locally and people in our main feeder markets.
- Social Media Marketing - Photos and videos, including Reels, Teasers, etc. across various platforms, including Facebook and Instagram, for both organic and targeted paid reach.
- Direct Mail Campaigns distributed both locally and to a list of out of the area buyers who have shown interest in homes in the area in the past.
- Leveraging our Network and Contact Databases to get the word out about the property.
- Hosting Open Houses to give buyers an opportunity to casually visit the home, but also to visit with the neighbors to get additional color on the neighborhood as well as understand who lives nearby.
