Why Did 11812 Harrisburg Rd Sell For $300,000 Over Asking?

Clients often ask me: How do we know how to price a home? What upgrades make the biggest difference for return on investment (ROI) when selling a home?

Because I almost always sell for above asking and with multiple offers, I know that I price and market homes effectively. However, I rarely get to make side-by-side comparisons that show my clients exactly how what I do makes a difference. Unfortunately, that’s just not how real estate works.

As a top-producing real estate agent, I make it my business to study comparative homes (comps) very carefully. That’s how I am able to decide on a list price that will lead to the highest sales price for my sellers. In this case study, I give you a comparison that goes beyond the comps. You get to see a home that sold for dramatically more than its initial valuation.

This home, located at 11812 Harrisburg Rd in Rossmoor, CA, was initially valued at $1,800,000 through a Comparative Market Analysis. Despite competitive pricing, it sold for $2,100,000, achieving $300,000 over asking.

There are three main reasons this home sold for $300,000 over asking, so keep reading if you, like so many of my clients, want to know what really results in the highest ROI.

Pricing.

I am great at pricing, and my results show it. I priced this home at a price that generated a lot of interest and stimulated multiple offers.

The initial valuation was competitive at $1,800,000, determined through a thorough Comparative Market Analysis. The seller felt the property was priced competitively, and I agreed. My pricing strategy created significant interest, leading to 10 inquiries, 6 showings, and 4 offers.

Proper pricing not only attracts more potential buyers but also creates a sense of urgency. In this case, the pricing strategy led to a smooth negotiation process where we were able to counter and adjust minor details, such as escrow length and contingency time frames, without deterring interested buyers.

Marketing Strategy.

My marketing strategy was designed to highlight the unique features of the property and attract the right buyers. The key messages emphasized the custom pool, custom BBQ island, and spacious backyard, which were significant selling points.

I utilized various advertising channels including Instagram, Facebook, Zillow, MLS, and direct postcards to neighbors. This comprehensive marketing approach ensured maximum exposure and generated significant interest, leading to multiple offers.

Effective marketing is crucial for setting the right expectations and attracting buyers who see the value in the unique features of the home. By highlighting the property's strengths and reaching a wide audience, I was able to create a competitive environment that drove the sale price above asking.

Upgrades.

In the property I represented, I focused on the following key upgrades:

• Painted the interior of the home

•Fixed the staircase to look more modern

These improvements were cost-effective but made a significant impact on the overall appeal of the home. Painting the interior freshened up the space, while modernizing the staircase added a contemporary touch that resonated with potential buyers.

A home’s value is established by good staging and also the actual fixes and upgrades. I always consider both the effect of staging and the difference that upgrades make because I know that real quality and customer service create a level of both seller and buyer satisfaction that leads to referrals and builds my business. This kind of commitment is a win for everyone.

The Take-Aways

I have learned that it is very important to pay attention to the pricing strategy in a given neighborhood, and to understand buyer psychology. Key upgrades make a big difference. And effective marketing is critical because it helps set a buyer’s price filter to a home that looks beautiful and provides them with a sense of value.

It’s important to work with a real estate professional who understands the market, knows where to spend money in the right places, is willing to project manage, and has the skills and connections to do it.

Want To Know More?

Interested in learning how I can help you achieve outstanding results when selling your home? Book a free, no-obligations call with me today, and let’s discuss your real estate goals.