360modern is all about buying and selling modern real estate, but you already know that. You’re probably also aware that there is currently a record low level of inventory across Seattle, creating pent up buyer demand and putting pressure on the housing market (and that in conditions such as these, it’s safe to assume that, if priced appropriately, a home will have at least a few buyers in line). But do you know about the power of 360modern? In the last two weeks, Heidi Ward / 360modern, acting as listing agent, sold two modern homes both with multiple competitive offers and final sale prices substantially above asking. Now that’s impressive. This week, we asked Heidi to shed a little light on the strategy behind these deals.
The back stories:
The first, a classic modern Magnolia Blvd. home with sellers, who in Heidi’s words, “took the Nestea plunge” agreeing to every single suggestion she made for getting the home prepared for market, from new paint and exposing hardwoods to a new roof and, of course, staging. The result: four competitive offers and a final sale price of more than 10% over asking.
The second, an iconic Ralph Anderson in Bellevue, broke the record for sales price-per-square foot for non-waterfront homes within a ¼ mile radius, and came in with seven, (yes, you heard that right, seven) very competitive offers. Per Heidi, these owners also went for it working very hard to get the home ready for market, and trusting her guidance on staging and pricing strategy.
The competition was fierce for both of these homes, with buyers conducting pre-inspections, and waiving every contingency feasible, in order to make their offers as compelling as possible. While this sort of buyer behavior is common in the greater Seattle real estate market for all styles of homes, the intensity is amplified with Midcentury Modern homes. This was clearly evident with both of these recent sales. Prospective buyers understand how rarely these MCM gems come on the market and are well aware that if they want to claim one for themselves they will be faced with stiff competition. With both listings, 60 or more groups came through each of the open houses. At least half of the visitors specifically mentioned seeing the listing on 360modern.
The fact that Heidi knows exactly how to tee up, reach out, and hook sophisticated and choosy buyers who are looking specifically for these kinds of cool modern homes – whether it’s because they themselves grew up in one or because they like the idea of living inside a piece of art – is the initial component to the power of 360modern. She has a real knack for drilling down and looking closely through data points, then guiding people, thus providing good counsel toward the ‘sweet spot’ list price.
360modern’s online platform for featuring MCM homes, along with their depth of knowledge on the subject is another important part of their success. Heidi believes strongly that good staging is ‘mission critical’ to achieving the greatest success when listing these special homes. Eliciting a powerful emotional response on the part of a prospective buyer begins with the images online. Heidi has cultivated relationships with very talented stagers who appreciate this unique architecture, and understand how to use furniture and art in a way that compliments and amplifies the homes’ inherent beauty. High-quality professional photography pulls it all together.
The orchestrated positioning and “to the hilt” leveraging process 360modern strategically moves each listing through is really best referred to as a “well-oiled machine.” 360modern has caught the attention of local, national, and international real estate bloggers, and social media folk, who appear to monitor the site regularly…on the lookout for interesting homes to feature on their own sites in this ‘content-hungry’ landscape of dismally low inventory. A little social media love goes a long way when homes sell in a week, and the name of the game is to generate as much buzz around a new listing as possible in the first 48-72 hours of hitting the market.
There’s a story here, we can feel it. Heidi goes on to recall three specific instances where having the home listed with 360modern absolutely impacted the ultimate sales success. The homes were in Burien, Renton, and Edmonds. In each case, had the homes simply been listed on the MLS the people who ultimately bought the homes would never have even been aware that these homes were for sale, because they were so far outside of the geographic search criteria that the buyers and their brokers had in place. In all three cases the buyers were subscribers of MODmail and saw the homes on 360modern.com. Who else out there besides 360modern has a targeted set of eyeballs interested in and potentially searching for modern homes? The answer, no one.
Lastly, we thought it could be fun to hear a few things clients have said about working with Heidi Ward / 360modern. Heidi tells us sellers most often say, “We really appreciated the guidance you provided from start to finish in the process” and “I’m sooooo glad we took your pricing guidance.” Buying and selling a home is emotional and there is a certain level of trust involved all the way through the process. It’s not uncommon to hear a client admit that the process is difficult, perhaps even more than they’d imagined. Heidi works hard to minimize the inherent stress to whatever degree she can, and wherever and whenever possible strives to make the process fun. Whether working with a buyer or a seller, she is really in it for the long-haul. Heidi has relationships with folks who have bought and sold several homes with her over the years, and she is profoundly grateful for their loyalty and trust.
JUST FOR FUN: The team at 360modern is considering having a regular “ask 360modern” feature.
A place where you could send in photos, questions, etc. about all things modern home. Perhaps it’s a question about a material you are considering for your kitchen remodel, or what’s trending in modern bath at the moment. The sky is the limit. Do tell. Is this something you’d like to see? Could this be a valuable resource? Would you participate? Please let us know, add your thoughts in the comments below or send us a message on Facebook, Instagram, or Twitter.