Our Approach
Proven techniques
Our approach to selling high-end luxury properties is based on marketing and business techniques we developed and applied to major business transactions during our 25 years of professional management. They are techniques that have stood the test of time.
Understanding your objectives
First and foremost, we work to understand your specific objectives as a seller. This includes:
- the financial outcomes you deem acceptable
- your target time frame for making the sale
- how sensitive you are to a delay in that date
- the level of contractual risk you are willing to accept with respect to a potential buyer
Pricing your property
Next, we discuss various pricing strategies consistent with your objectives. We recommend price points for your property based on your objectives, overall market conditions, recent comparable property sales, and competitive properties listed or expected to be listed during the target listing period for your property.
Preparing your property for sale
Before your property is shown to potential buyers and their agents, it’s essential that it presents itself well and conveys a message of value. Thoughtful preparation can produce big dividends, so it’s well worth the time, effort and cost. Here is a sampling of areas where we would provide recommendations:
Curb appeal—Does your property make a good first impression when buyers and agents drive up? Important areas are landscaping, exterior paint, roofing, front entrance, etc.
Deferred maintenance—To the extent reasonable items like damaged areas, dry-rot, bad windows, appliances that don’t work, doors/windows that are out of adjustment, roof cleaning, concrete cleaning, interior paint and/or cleaning, substandard window treatments, need to be addressed.
Prelisting inspections—We encourage our clients to have building and termite inspections prior to listing. This is especially important if the property has not been under a routine maintenance program. The last thing you want to have happen during your potential buyer’s due-diligence phase is to get a building-inspection report with a laundry list of problems that need addressing, or a termite report that recommends tenting. Even if you don’t lose your buyer, he or she may feel entitled to further price reductions.
Professional staging—This is an important consideration in high-end properties whose existing furniture and accessories are not consistent with the quality of the home itself. Although professional staging can be relatively expensive, it pales in comparison to the value of your investment and the effect it has on potential buyers and their offers.
Marketing your property
We pride ourselves on creating a marketing plan that is structured, managed, and customized to your selling needs. This approach, backed by the strength of the Sotheby’s International Realty brand, translates into superior results for our clients. Our detailed marketing program includes a media plan, printed materials, advertising strategies and a marketing activity timeline for your property.
The primary factors we consider in developing your plan include:
- identifying well-qualified buyer groups
- differentiating your property from its competition
- identifying the most cost-effective marketing and advertising strategies for your property
- timing marketing activities for the greatest exposure to your target market
- maximizing your property’s exposure to other brokerage firms
Assisting with negotiations
The best marketing in the world is useless if you can’t reach a successful contract with the buyer. That’s why dealing with buyer objections and negotiating with the buyer’s agent on your behalf is a critical aspect of our work. We have more than 25 years’ experience and expertise in handling multimillion-dollar negotiations on behalf of clients, and pride ourselves on our ability to achieve negotiated outcomes that successfully meet our clients’ expectations.
Finalizing the purchase contract
We will guide you through the contractual process and help you in managing contractual compliance. Both as REALTOR® professionals and real-estate investors, we are intimately familiar with the contract forms and provisions relating to Hawaii real-estate transactions. Bob provided significant technical input in the development of the Hawaii Association of REALTORS® new Purchase Contract form, which replaces the current DROA (Deposit Receipt Offer & Acceptance). He also has extensive experience in helping clients to manage contractual risks.
From signing to closing
This is typically the riskiest time for sellers. It includes the buyer’s due-diligence period, seller’s disclosures, financial contingencies, inspection, and so forth. During this period, issues inevitably arise that can threaten the transaction, if they are not handled skillfully through negotiation. Good communications and a strong working relationship with the buyer and the buyer’s representative are crucial to successfully concluding the transaction—strengths we’ve gained in our own experience in business and real-estate investment.
Close monitoring and management are crucial during this time to avoid closing delays and other problems. We have had particular success adapting scheduling technologies we used in managing large construction projects. Although escrow companies typically provide a timeline with key performance dates and actions for buyers and sellers, we have found it extremely helpful to construct and maintain an escrow timeline that is more detailed and interactive—one that enhances our ability to anticipate problems before they arise.
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