Current real estate market
The times in which real estate almost sells itself are over, although special real estate has of course always required more effort and attention in its marketing.
In general, the situation on the real estate market has worsened due to increasingly vehement changes such as the rise in interest rates, the Ukraine conflict and increasing supply chain problems.
In order to continue their business in such crises, real estate agents are dependent on reacting to changes promptly and adapting their company to market conditions in a targeted manner.
Process start of a successfully sold penthouse
The marketing of uncommon real estate must be specified in order to find the right buyer. At this point I am pleased to announce the successful sale of a modern, light-flooded penthouse in Berlin Kreuzberg.
Almost exactly one year ago I took over the sale of this luxury apartment, after other brokers had previously been commissioned with the marketing. After an initial exchange with the seller and the subsequent property inspection, I drew up my appraisal - including the sales price I had advised and envisaged - and my marketing strategy.
Since I have already sold various similar properties, this experience was incorporated into the purchase price determination and strategic planning and we were able to agree on a - from the seller's point of view - very good sales price, which, however, also had to be achieved in the end. Immediately after being commissioned , I started with my sales preparations such as the professional photo and video shooting of the property and the creation of the sales documents. Thanks to my partners of 16elements Architekturfotografie for the professional property fotos and MAWI Production for the awesome video, the architectural penthouse got put in the right spot light.
As is usual with exclusive properties of this type, we started with a first, discreet marketing phase in which I presented the property to my pre- registered clients whose search profile matched that of the property on offer.
After the end of this off-market phase and despite initial expressions of interest, we started the next phase and went public with the property. This included advertising the property in all available online media such as our own website, portals and social media channels. As expected with properties of this type, there was a lot of interest and countless inquiries had to be answered, properly classified and followed up. This phase is the most intensive, as inquiries have to be responded to immediately and this requires an enormous amount of time due to the number of interested parties.
One of the advantages of working with me is the direct accessibility, both for the seller and the prospective buyer. I answer both of them directly and personally and can therefore respond to questions and requirements very quickly and competently.
Visualization and sales promotion
The penthouse for sale had already been completed and was also finished in the floor plan. Slightly easier than with so-called off-plan new construction projects, in which the property is only sold on the basis of the existing plans, this penthouse required some imagination and, above all, the ability to envision how living in the apartment could look like. For this reason, we decided to have so-called renderings (computer- generated visualizations) created in order to present the penthouse furnished and equipped. Thanks to my network, I was able to assign Doro Dietz-Hodgson Architectural Visualization to create these wonderful and photo realistic renderings of the penthouse.
Especially during viewings, these visualizations made it much easier for prospective buyers to imagine the premises and get a feel for the lifestyle.
During the sales process, I always try to present the properties entrusted to me in the media. With the support of my London-based colleague, I was able to place the penthouse in an editorial article in the Financial Times, which generated interest among international clients in particular.
Sales phase and processing despite the pandemic
Unfortunately, the sale of the penthouse fell into the COVID 19 phase, which led to problems with one or the other prospective buyer. Interested parties who had already submitted purchase offers had to refrain from buying after consulting their bank and financing advisor, which led to a delay in the sale. In the end, with patience and constant persistence, I was able to find an interested buyer and successfully notarized and concluded the sale with him a few weeks ago. The buyer attested me that above all the immediate, direct contact as well as the competent support of the inquiry had led to the purchase desire. A quick provision of all documents necessary for the purchase is of course included as well as the communication between buyer, seller, banker and notary.
Even though the marketing time was prolonged - contrary to what I had expected - it remained within the time frame I had advised, just as I had indicated to the seller in the initial meeting.
In the end, the successful marketing of the penthouse is a perfect example of my service and skills, with all parties expressing their satisfaction upon completion.