I recently sold the vacant land at 1242 Sunset Plaza Drive in West Hollywood for $2.65M. It’s just a 5-minute walk from the famous Sunset Strip.
My client reassigned this property to me from another agent. Why the reassignment? The prior agent did go under contract with a buyer, but that buyer insisted on a price reduction during escrow.
My strategy was two-fold: 1) prepare the property to maximize its value, and 2) generate multiple offers to create negotiating leverage for the seller, so the buyer doesn’t think twice about asking for ANYTHING.
My initial visit to the property resulted in a great surprise! I was shocked to see such a neglected piece of land that’s so valuable. I directed my vendor to clear the brush and trees and expose the gorgeous views of the city down below. Wow, so much added value was revealed by doing so little!
When it was time to negotiate with the multiple buyers who submitted an offer, I thoroughly vetted the buyers, pushed for more, and negotiated and structured the contract in a manner that ensured a smooth sailing escrow process with no requests for price reductions or credits from the seller.
The property was sold for more than the prior agent’s listing price, and over my listing price as well.
Another happy client.
Geffen Real Estate has a statewide network of rehab vendors to maximize property values. Whether it’s water, mold, or fire remediation, or biohazard cleanup, or a complete renovation and staging, we have the right vendors to work in any city in California. All vendors are licensed with the California State Contractor’s Board and are properly insured to protect our clients.
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