Case Study: How an identical home sold for $59,000 less!

Francisco Lopez
Francisco Lopez
Published on June 24, 2019

We recently sold a home and I need to share something that I think is super valuable and really demonstrates the importance of hiring a
professional for ANYTHING that you want to accomplish.

A couple of months ago I sold a home in the Eastlake Trails area. As I was doing my research to
help my clients determine the value of their home and figure out how much we could sell it for, I came across something that concerned me a little bit…. You see there were many homes that justified that the price of our home could sell for $585,000 or more, yet there was one home that was an exact model match that sold for only $540,000!!

During the 2 weeks that we were on the market I had agents and potential clients call me to figure out why I was “overpriced” since that that other home had sold for so much less. I explained to them that in this case, that particular home had not had the proper marketing and because of that it had been on the market over 200 days and that caused it to have multiple price reductions.

When I called the agent to ask if there was something wrong with the home, she said no and she blamed it on a slowing market. I decided to take a deeper look and this is what I found:

  • They listed the home for too much money at the beginning (over 600,000) which caused it to sit for a long period of time. This typically happens when an agent lies to the seller about the value just to get them excited about the high price and sign a 6 month contract.
  • The pictures were dark. Even though the home showed well and it had been updated, you really could not see in in the images. They did it no justice.
  • There was no video (at least that I could find anywhere). It has been well known for the past 2 years that video marketing is the most powerful marketing tool available right now. Very few agents do this because it’s not cheap and most aren’t willing to risk paying for it if they aren’t sure that the home will sell.
  • There was no social media advertising. I only saw an image of 1 flyer posted on the agents personal facebook page promoting an open house and it had less than 10 likes.
  • Poor negotiations and/or Little knowledge of how the market works. How could an agent that believes that the market is going through a downward shift protect and fight for the value of your home?

Some agents have told me that I am crazy for spending money on staging, high end video, photography, pre-listing inspections and social media marketing but then I see the results that this brings to our clients and I see that it is 100% worth it.

I am certain that these sellers left at least $30,000 on the table (probably more) because they trusted the wrong agent to represent them with the sale of their home.

If you entrust in me something as important as this either for yourself or by referring me your friends or family, I want to assure you that you have zero to worry about. I will never defraud your trust. I will make sure that we don’t leave any money on the table and get the absolute best terms possible.

I have worked very hard to make sure that my team has access to the absolute best tools, training and systems available to ensure that we constantly achieve great results.

Who do you know that is thinking of moving so I can reach out and make sure they don’t end up
with the wrong person helping them?

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