The owners of this luxury condo had it listed with another Realtor for five months without success. After seeing me quickly selling their next-door neighbor’s same-size condo for more than what they were listed at they asked if I would help them out. They were very nice people and I was happy to take over their listing.
That said, this was a challenging listing. It was perfectly located across from Prince’s Island in the heart of Eau Claire and was originally built to a high standard. However, most potential buyers thought it needed extensive updating and the condo board decided to take the private elevator out of commission for almost two months while I was trying to sell it. So instead of impressing potential buyers with the private elevator doors opening directly into their potential new home, we had to trudge up and down the back service stairs to access the home and then its basement parkade.
To build interest despite the challenges, I augmented my regular MLS and online marketing with postcard drops in affluent neighborhoods to target potential downsizers directly. I placed a full-page ad in a luxury real estate magazine and I held five open houses over several months. I also replaced a faulty shower head, fixed a faulty fireplace starter, and replaced two light fixtures. I was determined to sell this home!
As a result, I did sell it – twice conditionally, only to have the deals fall apart.
Then I suggested that it might be in the sellers’ best interest to rent the property out for six months to a year so that the elevator rebuild would be fully complete, a nuisance lawsuit the condo board was embroiled in would hopefully be resolved, and the promised spring concrete walkway repairs would be done. I even recommended a couple of property managers to handle the rental, one of whom my sellers decided to work with.
Then, as they were about to sign a lease agreement, a new offer came in.
We countered and I negotiated diligently for a couple of days. For a third time, the condo was conditionally sold and this time the sale proceeded.
My clients and I were both relieved to have the property firmly sold. After the new owners took possession my clients kindly hosted me at a fabulous Vintage Chophouse dinner to show their appreciation for my perseverance and success in helping them move on. It was a great evening to mark the completion of a challenging achievement.