I was thrilled to sell 33 Iliki Place for my friends Tamara and Phil Dattilo in December. People would ask how I know them; Tamara was my hairdresser (and friend!) and did my hair for my wedding 24 years ago. I was unhappy to see them leave Maui but understand that family calls. After I sold it, many people asked “How did you sell for over list price?” Here is the story – Sold Over List Price.
The Dattilo’s had a beautiful single-story 3 bedroom, 2 1/2 bath home in Akolea at Kehalani. They had purchased it new in 2008 and had added many decorator touches, lush landscaping and high-end appliances. They had it previously listed with another agent for 109 days who had been referred to them.
Pricing the Home to Sell
I did my very detailed CMA (Comparative Market Analysis) and after reviewing the comps, they decided to list for $788,000 which was $11,000 less than the previous list price. I provided them with a NET Sheet showing how much they would have to apply for the new house they were having built in California. (Ask me why my CMA’s are better than most agents!)
We went through the house and I advised them about what to pack, what to remove and how to best prep the house for showing. My husband and photographer, Peter Liu, spent the good part of a day taking photographs while I assisted to make every photo perfect. I also worked at preparing a detailed list of improvements they had made to the house. I researched the Todo Toilets and Bain-Ultra tubs and leased solar systems to understand why they add significant value. Details do matter! I did an annotated slide show that is still available.
Marketing and Showings
We listed the property on Monday 9/21. That Thursday we had a REALTOR caravan. I sent out a notice to all agents about the new listing and caravan the night before. As always, I incentivize agents to show up at caravan with homemade frittata and a gift card. I summarized the results of price opinions from the agents and shared with the Dattilo’s. Generally, it was good feedback that we were priced right. We had 4 showings in the next few days. Tamara and Phil were great at leaving the property all set up in pristine condition for the showings. I didn’t even have a chance to hold an Open House.
Negotiating the Offer(s)
On 9/27 we received an offer. The Dattilo’s decided it was too low, so they countered. Then we received another offer. Both were very similar. We decided to go back to both and ask for a BAFO (Best and Final Offer). Competition for a beautiful home is what drove the price up over list price.
Again, both offers were very close but the Dattilo’s chose the one that gave them the best net advantage. The offer was accepted on 9/30 just 8 days after we listed the property. We encouraged the 2nd buyer to put in a backup offer since both required lending. In the end, that really paid off as the 1st buyer had to back out. The close date did slip a little but so did the Datillo’s home construction in California.
Escrow and Closing
We had a nearly flawless escrow with both sides working together. We closed on December 11. The Dattilo’s moved with a huge container, 2 dogs, 2 cats and a bird and received the keys to their new home just one week after we closed. Perfect timing!
For me, it was the first time working where the buyer and the agent were the same person. I have to say that Ken Smith was great to work with. More importantly, he loves his new home! I have to add a special thanks to my friend and fellow REALTOR Ms. Amber Ngo who assisted me while I was off island, but more importantly, had called Ken to tell him that she thought this would be a great home for him.
In closing, what does selling a home in record time over list price take? A beautiful home, reasonable hard-working sellers, great marketing, patience and persistence, good friends and a little bit of luck!