While many Vancouver buyers have been taking action during July and August, the Vancouver market remains slower than usual within the luxury segments. My team and I just sold our beautiful listing: 1975 Stephens Street. This was a recently renovated luxury 1/2 duplex in Kitsilano. Being a 2-bedroom listed at $1,849,000, it was a niche product. And, it did take some time to sell.
MARKETING A UNIQUE PROPERTY
It’s critical when marketing a niche product that may be on the market a while to keep the energy up, with respect to both marketing and exposure, and to follow up personally with every agent who comes through. It’s important to collect quality feedback and to keep in touch with agents whose clients demonstrated interest. Patterns tend to emerge within the feedback provided, and that is where actionable data lies.
MARKETING AND EXPOSURE RESULTS FOR 1975 STEPHENS
Via organic and paid campaigns during the period the listing was active, we were certain to keep the property highly exposed. We generated:
12,573 views of our posts and ads to local Vancouverites, with 6,618 views alone to the listing video on YouTube.
In contrast, the Realtor.ca website (the primary public MLS website) generated 1,373 views of this listing.
Conclusion: We generated 816% more reach through our own organic and paid (and targeted) advertising efforts than relying on the primary public MLS website alone.
HOW THE DEAL GOT DONE
In the end, it was ‘old-fashioned’ collaboration that got this done. @shannonmcnulty and I were in touch debating and collaborating for several weeks before we were able to facilitate our buyers and sellers to come together, and for a deal to be accomplished. In a slower market, real estate agents' selling skills, communication skills, and persistence are critical qualities to achieving success for their clients. Thank you, @shannonmcnulty, for possessing all of these skills!