Case Study
A New and Fresh Marketing Approach
The Challenge:
Sally and Andre were frustrated with how long their beach home was taking to sell. It had been listed with a local brokerage for over a year, and when their contract to work with that firm expired, they decided it was time to change agents. Since the property had been on the market for so long, they knew they needed a fresh, new marketing approach. Long & Foster was ready to take on the challenge.
Agent Insight:
The team at Long & Foster first completed a comparative market analysis on similar homes in the area. Their research found that many properties were priced too high and stayed on the market for an average of about two years. By adjusting the price of Sally and Andre’s home, they made it more competitive in the community. They also spruced it up with light staging and placed the home back on the market.
By marketing directly to other luxury agents, including our vast Long & Foster network, in the Mid-Atlantic’s major cities, we can tap into an extensive client base and reach buyers in those areas who are looking for beach homes.
Our Customized Approach:
Realizing that most beach buyers are from major cities like D.C. and Philadelphia, the Long & Foster team quickly went to work leveraging the power of their own and the greater Long & Foster’s luxury agent network to market the property. Long & Foster’s wide reach and presence in those cities provided a distinct advantage over the competition. Additionally, Long & Foster’s affiliation with Christie’s International Real Estate, Luxury Portfolio International and Leading Real Estate Companies of the World helped create maximum exposure for the property.
Results:
Long & Foster's extensive marketing and promotions of the property caught the eye of a luxury agent in another brokerage firm. He remembered a client mentioning that eventually they’d like to purchase an oceanfront property. After visiting Sally and Andre’s home, the would-be buyers fell in love with the home and decided to purchase it. The offer was received after only nine days on the market and it went under contract 21 days after listing. Sally and Andre were impressed with the marketing efforts of the Long & Foster team. They were also thrilled with how quickly their home sold with Long & Foster after having been on the market for so long with another broker.