In this episode of The Hyperfast Agent Podcast, host Dan Lesniak talks with Sunil Saxena about the last phase of a successful development deal. First, you find the deal, then you manage the deal, and lastly, it comes to the sale. It’s time to land the plane!
Episode Highlights:
- Preparing for the sale should begin long before it comes time to sell the finished project.
- Think about all the details and price points upfront so that when it comes time to sell, you have a polished penny.
- Avoid betting on appreciation and instead focus on what that house is going to sell for right now.
- It’s vitally important to remember that the product needs to match the desired price point.
- Getting the product in front of people is quite a bit more complicated than putting cereal on the shelf.
- There are a plethora of digital marketing options when it comes time for placement and promotion.
- Starting the promotion and placement process early will make it that much easier to sell the product.
- Once the drywall has been put in the development, the interested buyers can see the vision.
- Sunil’s company puts projects on the MLS early but takes it off if it doesn’t sell in the first phase of the project.
- MLS, digital ads, social media, emails, and phone calls are all effective strategies to build up the hype.
- When making an expensive purchase like real estate, the little details make all the difference.
- Dan was able to stage different units as they were being completed with the project that finished in the middle of the pandemic.
- As a real estate developer, it’s important to bring in a fresh set of eyes before listing the property.
- When looking to hire an agent, look for someone that has as many lines in the water as possible, that being, a large network.
- For developers and investors in the DMV area, you should definitely reach out to Dan, Keri, and Sunil.
- If you don’t know how to sell the property then none of the work that has been done will matter.
3 Key Points:
- Preparation for the sale should start to take place before the project even begins. This way, by the time the project is finished, you will be completely prepared.
- There are 2 types of buyers: buyers who will buy a project off of a piece of paper and buyers who want to see it completed before they make an offer.
- Through a variety of promotion and placement techniques, get the product in front of as many people as possible.
Tweetable Quotes:
- “You can have a great flight but if you don’t land the plane then no one is going to remember what happened before.” - Dan Lesniak
- “You want to get the price right, so you gotta go into this with the right expectation.” - Dan Lesniak
- “There are people out there that just do bad jobs but most people that are in the business, I think, long term, do a good job or they wouldn’t be in it long-term. - Sunil Saxena
Resources Mentioned:
