Case Study
Over the years we have accepted the opportunity to market some amazing properties. We view selling each property with an open mind. This case study demonstrates, the marketing effort and approach we are capable of, to sell even the most challenging property.
If you have an unusual or unique property, we would love to work with you. Call us at 847-926-1697 to schedule an appointment or to discuss your property, we can also be reached by email.
SITUATION: DIFFICULT-TO-SELL HOME
TOOK 5 YEARS!
Issues to Overcome:
• Home took 18 months to build – nothing to show buyers who have trouble visualizing a hole in the ground
• Huge (13,000 SF) spec home-top of market ($5.9 million) – limited # of buyers
• Rooms were difficult to identify – buyers couldn’t distinguish living room, dining room, etc.
• Construction not completed – buyers couldn’t envision or appreciate the final product in several critical areas
• Vacant home – buyers had difficulty in placing furniture in many areas
• All white – although freshly painted the look was stark & all of the detailed woodwork was lost
• Only minimal landscaping – exterior needed to be softened as it is the largest home on the street
Exceptional Marketing Steps Employed Over 5 Years:
• Hired artist to sketch home for advertising & other promotions
• Created a web site showing the weekly progress of the home which ultimately included about 800 photos
• Held a seminar for realtors about high-end new construction with the architect of the property speaking about the home
• Hired a feng shui consultant for suggestions
• Hired a prominent local decorator for suggestions
• Recommended staging the home-called 3 companies for the seller to interview
• Created a press kit that was distributed to all media in the Chicago Area.
• Scheduled an open house with lunch for the media as well as for agents.
• Fox News responded and scheduled a live interview at the property for 7:00 A.M. The interview never occurred. On their way to the home the news crew called to cancel – it was the morning of 9/11/2001. The interview was never rescheduled.
• Home was featured in both the Tribune & Sun Times real estate sections as well as a feature article in the North Shore Home Magazine
• Created 3 professional e-commercials and emailed to over 2000 top brokers in the Chicagoland area to promote the home and huge selling bonuses
• Placed the home on E-Bay
• Decided to create an event at the house to draw agents who might have connections with hi-end buyers.
• As a result of this flyer sent to North Shore agents, the following occurred:
• Held posh charity event for Hurricane Katrina survivors conducted by the local board of realtors. Attended by local officials, politicians and realtors serving high-end clients and included live entertainment, gourmet food, a catering staff, a silent auction and buses rented to take guests to and from a nearby parking lot.
• Over those years there had been many offers as well, but all under what the seller wanted.
What Sold the House:
• The posh charity event, but only because it created a deadline to finally complete all the work at the house. After a 4 year span of trying to address all of the issues to overcome (stated at the start) the builder let his wife step in and she did the following:
• Reviewed the report from we provided from the decorator
• Contacted contractors to complete the 5 balconies and add a paver brick drive (instead of the asphalt one)
• Contacted landscapers to add arbor vitae for privacy and additional greenery
• Selected warm and inviting colors to soften the look and to highlight the exquisite millwork
• Agreed to go along with staging the house, which pulled it altogether
• Without the deadline of the charity event the work might have taken another month. The painters were literally cleaning up as the food began arriving from the caterer. The event was an amazing success. One week later, with the home now cleaned and in perfect condition, a family walked into the new decorated and freshly staged home and bought it.
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