Sold & Closed $1,675,000.00, Multiple Offers & My Sellers Received Over Asking Price

I don’t normally do this, especially when listing luxury property, but I promised my sellers over the asking price. I knew that they were located on an amazing block in South Tampa. They had everything buyers are looking for.  A one of a kind luxury pool home 5 bedrooms, 4 bathrooms, pool, spa, 14 ft Quartz island-seating for 10. Don’t forget the koi pond. One of the most desirable features was the primary bedroom on the first floor, that’s important to many buyers in today’s market.

So, I followed my gut, and said, “Let’s list it at $1,650,000.” The sellers wanted to list it lower, $1,617,500. This is why it is so important to have a Realtor that is experienced in luxury real estate. I knew the market was hot. I knew the property checked all the boxes, and my gut told me, even at $1,650,000, we could sell higher

Everything in my head told me not to say the next words that came out of my mouth. But sometimes your gut wins, and I said, “I promise you, we will sell this over asking.” The sellers thought I was crazy. They were hoping for $1.6 million. However, they trusted me. They knew I had sold the house two doors down. They knew I had a lot of luxury home sales experience, but we decided to list at $1,617,500. At that price, I promised we would get over asking.

After I left the listing appointment, I thought, “well, I just put my neck out there, time to get to work.” With luxury homes, you have to push the homes differently than a normal listing. First, it’s all about high end photography, staging, and music. You need to show off fountains, sound systems, custom lighting, custom kitchens, spice racks, and home automation systems. 

Second, you have to show up. As a realtor, I showcase the house. I’m there when the buyers are there and point out things they might overlook, things a buyer’s agent wouldn’t notice. I show them how the remotes work, tell them about restaurants, and talk about the neighborhood. I let the buyers know what stays with the house. In high-end realty, things like TVs and other a-typical appliances may or may not stay with a home. I even had a client ask for the car in the garage, but that’s a different story. 

I knew what to do, but every listing is different. 

We started showing the house on a Thursday and within a couple of hours, I was already showing the house. Within 3 days we had 12  showings, 3 aggressive offers, and saw offers over the list price. I was so excited for my clients and felt good about the outcome.

Now the real work has started. So, many people think the job is over when the house sells, but in reality, a Realtor still has a lot to do. 

We started running into a few bumps. 1st, the appraisal came in under the price. Fortunately, I made sure we picked an offer with an appraisal contingency waiver, so it didn’t affect my sellers. The lender had an approval however, there was a condition that needed to be cleared. It was going to push the closing back two weeks. 

Nobody is happy about missing closing. It messes up taxes. Sellers have additional mortgage payments, and in general, there is a cost to hold a property for two additional weeks.  We had to rehire the pool guy, the landscapers, and keep the utilities running.

Again, as an experienced Realtor, I knew what to do. We ask for an additional $250 a day to cover expenses, a $40,000 release of escrow, and an additional $60,000 to be deposited into escrow to secure the property. 

My sellers weren’t happy, but we were able to make things right by negotiating these changes. Believe me, when I say, inexperienced Realtors don’t know what to do in these situations and often make a mess of a fixable situation.

Even though I've been through situations like this before. I was still holding my breath. Is it possible that this would be the one that falls through?

Fortunately, it wasn’t, by managing the situation everyone was able to get to the closing table this past Friday!

Sometimes when you pick a Realtor, you don’t even know what you may need them for. This is why it is so important to pick a Realtor with experience and a team, like Century 21. 

If you are thinking about buying or selling a home, contact me (Kevin) today! Call (727) 410-8599.
Want to get to know me a little better? Read some more client stories at https://www.kevinfreel.com/blog