Episode #199 Selling Development Deals with Sunil Saxena

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:

  1. 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.
  2. 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.
  3. 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

 

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