Making our clients happy by selling their homes for the highest price is always our goal. Working with active, experienced agents that know when to pivot, can make all the difference, especially if you are selling a home in a harder-to-sell location or with a unique floor plan.
We listed a recently renovated home with amazing downtown and water views on a busy street. Many people were reluctant to see it because it was on a main thoroughfare. After two weeks on the market it was apparent to me that our original pricing strategy was not going to maximize the value of this home.
We pivoted to adapt to market conditions. Rather than take price reductions we radically lowered the price with the idea that we would generate more offers and be able to negotiate upwards.
This was risky but it worked. Our approach garnered attention from 130 parties, resulted in 30 disclosures being sent out, and ultimately yielded 9 offers and we sold the home for $775K over list price, just shy of our original asking price.
More than anything this was an exercise in trust. I’m so grateful my clients trusted me with something this important.
Before we pivoted we had almost zero showings and only a few people coming to open houses. We could have reduced the price from $2.595M to $2.395M. Still I think the house would have sat with very little attention and would have sold closer to $2.2M or $2.3M, significantly less than what we were able to achieve with the drastic price reduction.
We applied this same strategy to another home that came on the market right afterwards. This home was modern and had panoramic views but it was in Visitation Valley, a location that is not well known. The house was large but it also had some challenges with the floor plan. There was no primary suite and only one bathroom to be shared by three bedrooms.
We felt in order to maximize the value we would start very low and negotiate upwards. We priced it just under $1M, it attracted six offers, ultimately selling for $1.75M, significantly exceeding expectations.
These successful sales underscores that having an active, experienced and trustworthy agent matters. One of the things we LOVE about real estate is that everyday, even after selling over 1000 homes, we are still learning and each one of our clients benefit from those learnings.
If you have questions about the market or the buying or selling process. Please reach out to us. We’d love to help.
“We worked with Yesenia and The Krishnan Team to sell our home in SF and we could not have worked with a better team! This was our first time selling a home and we were overwhelmed before finding The Krishnan Team.
From our initial consultation with Yesenia and Ruth we felt cared for and heard. They were honest and were not just telling us what we wanted to hear to get our listing. They listened to our interests, concerns and were truly there for us.
Yesenia’s knowledge, expertise and organization were invaluable. Her recommendations on what we needed to repair and upgrade in the home were thoughtful and made all the difference. We were able to hand over the keys and trust the team to take care of everything. They communicated with us the entire time and went above and beyond to ensure that it all ran efficiently and smoothly.
We were amazed by the look and quality of their marketing! We didn’t even recognize our own home. It looked so beautiful. The marketing was the reason we had an incredible turnout at the open houses. They were able to get us on the market quickly and timed it perfectly. We were in escrow in just one week after going on the market!
We fully relied on Yesenia’s recommendations on pricing and negotiation strategies and we could not be happier with the results. She was very thorough in reviewing everything with us and eased our stress. Yesenia and the team was available day or night to answer every question we had.
They exceeded our expectations every step of the way! We highly recommend working with Yesenia and The Krishnan Team!”
-A.S., Seller
