Susan Holey
Real Estate Advisor
SusanHoley.net
203.969.4320
What marketing strategies do you use for sellers?
As Sotheby’s International Realty agents we have an advantage over competing brokers at every other firm. Buyers and sellers around the world associate the Sotheby’s name with quality, luxury and service that is above and beyond. The branding is elegant and at every price point we showcase our properties in a way that meets our high standards. Our listings are marketed digitally on social media, editorially through our PR department and through local advertising and open houses. Working with a Sotheby’s International Realty Agent is like buying a diamond at Tiffany’s. You know you are getting a good one!
How do you handle bidding wars for buyers?
There are some homes that come on the market and I know instantly it’s going to be a competitive bidding situation. They are updated, with a good layout on nice property. First, I encourage my buyers to avoid these! I want them to find a property that could become one of these properties! However, if they fall in love and find themselves in a competitive bidding situation. I provide them with data that will give them the best chance of “winning” the house. They need to know how much over asking in dollars and percent comparable homes have sold. Can they offer cash or remove the mortgage contingency? Can they be flexible on timing, offering a fast or slow close to match the sellers needs. As much as possible I try to find out what the sellers wants and help my buyer provide those things.
What’s your approach to pricing properties?
Pricing is so important! There are no bad homes there are only bad prices. And, homes that are overpriced, even in this market take 2-3 times longer to sell. I like to use different pricing models and see if they tend to point to the “right” price. For example, I do look at comps of homes that are the same size and age, at the assessment, check Zillow. And, when you start to zero in on a price, see how you compare against the competition. When you overprice you look bad versus the competition. When you price well, you look good. With all the information on-line, buyers are experts in their mini-market.
How do you handle multiple offers?
The most important thing in a multiple offer situation is transparency. I always post a checklist on line with the following information, and a notice that bids lacking the criteria will not be considered.
1. I disclose if I have a buyer in the mix and a notice to go with it that all bids must be sent to the seller’s attorney. And, I provide that email.
2. Clearly state the date and time bids are due.
3. A notice of whether or not escalation clauses will be accepted.
4. A notice that no bids with be considered without a pre-approval letter or proof of funds if a cash offer. A letter from the bank is not sufficient.
5. When I expect to have a decision and how everyone will be notified.
