Regarding Douglas' teaser pricing strategy ... DO IT!…read more
The strategy seems simple, but it's not nearly as easy to execute as it sounds. After discussing the pros and cons with Doug, he demonstrated that knew how to handle every possible scenario, which made us comfortable.
My husband Curtis and I were a little nervous about it, but the idea that it would help boost the algorithm was too good to not try.
We both checked in with ourselves (our gut feelings) and agreed that it felt like the right thing to do.
Now I will say that Curtis and I did our part. Our motto throughout the whole listing and selling process was, "Leave No Doubt."
We had remodeled our house about 18 months ago, so the house looks great. But we wanted to Leave No Doubt that this is the house they don't want to miss.
What this meant is we made sure the house was as perfect as possible: clean baseboards, clean everything, fixed some messy/crumbling grout in the kitchen and bathroom, repainted a stained wall, repainted the front entry step, etc.
We also spent about $2000 on plants / soil to update the front landscaping to match the "new" backyard that had been installed 18 months earlier.
We spent $1000 to replace the AC motor, which may have lasted through the summer, or maybe it would have lasted two weeks. Now it will last another 10-15 years. (Value add for the buyer.)
We cleared away ALL clutter in every room.
Anything that was out of integrity, we fixed. We didn't want to have anything to hide. We wanted our house to simply be the best house available, period.
Basically we knew that we had one shot to maximize our chances of getting the best price. Douglas is bringing his A-Game (photographer, teaser price strategy, Sharon's decorating suggestions, etc), so we needed to bring our A-Game to help Douglas do what he does best.
We looked at this entire process as a partnership, and we didn't want to be the weak link in the team that brought our price down.
We did our part ... and with the teaser price strategy, our neighbors were calling our house a "Disneyland attraction!" For all 3 open houses, we had about 25 people waiting on the sidewalk before the open houses even started.
Douglas and Sharon were fielding inquiries about our house within 15 minutes of the listing going live on the MLS.
We had our first offer BEFORE the open houses, sight unseen! They didn't even tour the house - they just submitted an offer at just above list price. While it was a lowball offer, Douglas could now use it to say he already had an offer over asking!
We were grateful to have 16 offers by the end of the open houses, and so happy with the buyers who won.
After seeing Douglas and Sharon in action, and hearing how they both handle conversations to tip them in our favor for the highest possible offers, I'm more than impressed. I'm in awe!
Douglas is really really good at this, and he knows what he's doing.
He and his whole team were great to work with, easy to communicate with, and answered all of our questions quickly.
Bottom line, we trusted them, and it worked out better than we could have imagined.