Boulder NOTABLE SALE: 810 32nd Street | $906K
I can tell you the inside scoop on this deal because, well, I was the listing agent. The key selling points were covered in our Smart Buy video (link). Let’s skip to what happened in the deal itself.
First, our clients took our advice completely and did everything we asked them to do to prepare the house for sale. They also allowed us to directly work with the tenants, and also took our advice for how to manage them to allow for a successful sale process. It wasn’t easy, but by working together with the tenants and sellers, the home was transformed from what looked like a college dorm to a clean, simple, and livable home in a prime location.
Second, our marketing strategy drove ~8K video views on social media in addition to traditional MLS channels. I believe this was instrumental in driving potential buyers to schedule showings. See the video link above.
Third, market conditions allowed us to leverage multiple offers. It’s tough to find a livable house in Boulder for under $1M today. This one checked a lot of boxes, which resulted in - count ‘em - nine offers.
Take Home Lessons:
1. The key distinction for which offer won came down to agent experience and contract terms. The winning offer is usually the one with the strongest price and the highest probability of closing.
2. As always, I’m surprised when agents who don’t read offer guidelines carefully or willfully disregard specifics. If you want to actually win in a bidding war, it’s important to communicate early and often (preferably over the phone) with the listing agent, and present a well written, typo free contract. If you are advocating for your buyer, make sure the terms of the offer reflects the strength of your words. When a buyer’s agent talks a good game about how much the buyer loves the house, but the contract is full of exits, there’s a mismatch.
3. You might think this would be self evident, but the odds of a successful transaction increase exponentially when clients actually enact the advice of an experienced agent. That's why you chose your agent, right? So, choose your agent on the basis of experience and performance (not friendship) and then take action on the advise they give you. This is the pathway to success - which we measure by sale price and ease of transaction.
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Note: Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
