Edited by Alessandra Conforti
The purchase and sale of a property is not only a negotiation or contract but sees a mixture of stories, passion and hard work. Dr. Chiara Peppicelli and Giacomo Buonavita, both Italian property consultants with Great Estate & Chesterton real estate group, tell the story of a Tuscan farmhouse…
I became involved with the sale and management of this farmhouse in April 2012, which had a price at the time of 550,000 Euros.
Many viewings but after a year, despite the positive feedback, no concrete interest, so through discussion with the owners, we agreed on a price reduction to € 495,000 which, strategically speaking, would undoubtedly attract an ideal buyer.
I was responsible for this client for about a year, even though initially, they were looking for a holiday home; apartments in historic centres or towns in the province of Siena. In the months after, their interest shifted to farmhouses, of medium size, set in a pleasant location and not far from the town, so they had the opportunity to enjoy both social and cultural amenities, especially in light of the needs of their son, who was about 10 years old.
First, though, we saw other properties. Just as with Giacomo, in September 2012, I took them to see a smaller farmhouse, near Cetona, from which it was possible to walk to the old town. They really liked the area but unfortunately it was not what they were looking for and more importantly, the interiors were not very ‘family friendly’. They continued in their search, for the “right” property for him and his family. In the months after, there was a bit of a lull but of course we stayed in touch. I sent brochures of other farmhouses they might be interested in, just in case. This is good working practice, to also create a nice friendly relationship and then we often kept in touch by email or phone.
Yes, I would say so. It is very important to understand the client’s requirements, to understand what they really want and not to lose hope. In fact, after about a year, my client called me saying he was interested in viewing two properties. This included the farmhouse located in the heart of the Tuscan village of Sarteano. This property had caught his attention because, despite the need to do some internal work, it was not located in the open countryside, and therefore not isolated, but rather just a few minutes walk from the main town square, a town also liked by the family for all its amenities it can offer such as a swimming pool, tennis courts, football pitch and many others.
Exactly. It is very important to agree a property price that the market dictates in the months following the readjustment, requests began to increase resulting in more completed site surveys in the first half of July 2013, with the arrival of an official offer … an offer that after a week of negotiations saw the conclusion of the deal to the great satisfaction of all parties involved. All this was possible thanks to teamwork with Chiara Peppicelli.
Yes, it was my first sale, and I remember it with great joy and satisfaction because we were able to fully satisfy the client. Everything had been possible thanks to the experience of Giacomo Buonavita who was with me, especially during the negotiation, teamwork is very important as well as being able to count on the presence of experienced professionals. This is the ‘extra’ that Great Estate & Chesterton real estate group gives.
The farmhouse had been sold in 1 year and 3 months from the date of its “launch” onto the market. At a period of time in the housing market that certainly has not helped our work, we, continue to argue that, in spite of the current difficulties, it is still possible to buy and sell any property that is proposed to us.
To achieve the sales target, it is essential to create a good relationship with the seller, to explain to them the process, to make them aware of the current housing market; this is thanks to an initial consultation and discussion on the best promotional strategy for their property following our advice. In addition, after the initial launch of the property on the market, there is also an analysis of its performance to date, and, if necessary,
take appropriate measures aimed at selling (for example, adjustment of the property price that more or less coincide with the costs of advertising and communication).
These two key points, in my opinion, are required to achieve the desired results. In this specific case, the sellers followed my advice to the letter: the fall in the asking price was in fact crucial to its success.