Welcome to Vera Avenue
Spacious Homes, Premium Location
SOLD OUT
Overview
The Vera Townhome Project was a 10 unit new development in the heart of Redwood City listed and sold by the Joyce & Tatum Real Estate Team with great success.
The development included 3 bedroom units, each one around 1,800 square feet. The units were all very similar with just 2 different floor plans for buyers to choose from.
The developer originally hired a different real estate team to sell these units. Those agents sold 4 units - all under asking and had the developer offering credits to the buyers.
The developer noticed the success of the Harrison Avenue Townhomes and called us in to save the project from being in the red.
Our Approach
Roll out of a brand new marketing plan in under 30 days
- New website built in 3 weeks offering local neighborhood information, new photos and video and the ability to capture new leads
- Social Media Campaign roll out with a dedicated Instagram handle and facebook page to increase the interest list and specific target buyers
- Large customized signage at the property with QR code for more information and to highlight pending sales
- Custom buyer booklets
- Staging with high end furnishings
- Fluu suite of photography, floor plans, 3d Matterport, video and twilight photos
- Press Release
The Value Proposition Sales Model
- We started out at a disadvantage as we felt that the prior 4 sales were sold close to $100,000 under the fair market value.
- We honed in on our local knowledge and created a value proposition for the townhomes based on the layout, location and quality of the build.
- We utilized our real estate expertise to create awareness that these townhomes were not only unique (as one of the only new construction opportunity to purchase in a 15 mile radius) but how much more home for your money buyers were getting with these units.
- Utilized our local connections with businesses and the real estate community who were unaware of the new construction development to get them in and interested.
- Weekly and mid-week open houses consistently with 1-2 new units on at a time to drive traffic and reduce buyer fatigue.
Outcomes
- We sold 6 units over the next 6 months each one closing $50k - $125k over the highest past sales price (with little to no buyer credits given).
- In our first 4 sales we were able to next the developers nearly $400,000 more than what they were able to achieve with the prior real estate teams sales.
- Increased the average price per square foot by approximately $50/sq ft.
- Elated developer hired us to tackle their next development project.
