Hey everybody, it's Kevin Kwan with KKR Group. Today, I have one of our superstar agents, Wake Watch, with me. We're excited to share some news and discuss a recent sale in Walnut. By sharing our experience, we hope to give you some insights into the current market. If you're thinking about selling your property, this can help you along your journey.
How Long Did It Take Us to Sell the Property?
Let's dive right in and talk about 471 Clairol Drive in Walnut, our most recent sale. Wake, how long did it take us to sell this property?
Wake: It took us 14 days to get into escrow and 28 days to close the escrow period.
Kevin: 14 days is great timing, especially since it's currently taking about 30 days for properties to sell.
How Many Offers Did We Get?
Kevin: We haven't seen multiple offers in a while, but I believe we got multiple offers on this property. How many did we get?
Wake: We had a total of seven offers. Four offers came in the first weekend and three more in the second weekend.
How Much Did We Sell the Property For?
Kevin: And how much did we sell the property for compared to our original listing price?
Wake: We originally listed it at $998,000, which we thought was a good price, but we ended up selling it for $1,033,000.
How Did We Get the Listing?
Kevin: We got this listing by sending out our "just sold" postcards for another property we sold in Walnut. The seller received our postcards and decided to give us a call.
What We Learned in Selling This Property
Wake: One key thing I learned is that location matters a lot. This property in Walnut had high demand. Also, our marketing and exposure strategy played a significant role, especially during the holiday season.
How to Get Maximum Exposure for the Home
Kevin: So, Wake, you mentioned marketing and exposure. What exactly did we do to get maximum exposure?
Wake: We did both online and offline marketing, starting with professional photos and videos. We maximized our reach through social media platforms and offline methods like mailer marketing. We also held a Twilight open house event and continued open houses until we got as many people into the house as possible.
What is the Twilight Open House Event?
Kevin: Can you explain the Twilight open house event for our viewers?
Wake: Twilight is an open house event specifically for the neighborhood. We door-knock all the neighbors, invite them to the open house, serve food, and get everyone talking about the house. This strategy brought a lot of friends and family of the neighbors to our open house.
Results from the Twilight Open House
Kevin: How many people came to the Twilight open house?
Wake: We had 25 groups come by, and over the span of two weekends, we had over 100 groups, which is impressive, especially during the holidays.
What is Our List Price Strategy?
Kevin: You mentioned the list price strategy. How did we come up with the number, and did it play a role in our success?
Wake: We looked at comparable properties in the area and chose a price closer to the middle range because of the holiday season and the current economy. We listed it at $998,000 and sold it for $1,033,000, above our highest estimate.
Exceeding the Seller’s Expectations
Kevin: We exceeded the seller's expectations. What contributed to this success?
Wake: It’s all about the process. We did professional videos and photos, extensive online and offline marketing, and the Twilight open house. We reached out to our database of over 2,000 people, generating a lot of interest.
Quick Recap of What Happened During the Sale
Kevin: To recap, we drove about 100 people to the property through open houses, received seven offers, sold it in 14 days, and sold it for $35,000 over the list price.
How’s the Housing Market Right Now?
Kevin: What did we learn from this experience?
Wake: The market is picking back up, especially with interest rates coming down. The marketplace is active with buyers looking specifically for this community, and we expect this trend to continue throughout the year. Inventory is still limited, so there are not a lot of options for buyers.
Need Help Selling Your Home? Let Us Know!
Kevin: Sellers thinking about selling, give us a call. We’d love to help you and provide insights about the market and what we can do to sell your property.
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