Our CEO is going to tell us his thoughts about the sale of “La Torretta”, Todi: the efficacy of the Great Estate Method, the professionalism and concreteness of the Group and the gratitude towards the vendors.
“La Torretta” farmhouse ex-owners are a couple from Bolzano, Italy. They contacted us after having seen our advertisement into the “Ville&Casali” magazine. At the beginning, they were contacted by another specialists too, but they did not want to sign any assignment for sale. So, I decided to phone them personally. Roberto Biggera and I went to the farmhouse in October 2017. In that moment, they “opened” themselves to us: I nicely remember their cordiality, as well as the incredible marmalade pie they offered us in that occasion.
They owned “La Torretta” for about 20 years: a very well renovated and maintained farmhouse with a beautiful park and swimming pool, an amazing panoramic view and a great location, not too distant from the services (click here to discover the property).
This property was in the market with other 4-5 agencies already: for this reason, in terms of consultancy quality and strength of the team, it has been difficult to make the vendors understand the difference between us and the other agencies they entrusted for the sale of their property. They did not want to sing an exclusive assignment for sale, but a free one.
As usual, I personally estimated the property through our “The Best Price” software: the value which emerged from it was of about € 580.000. Again, this element confirmed the validity of our software: indeed, the purchase price was perfectly in line with this estimate.
So, a further, great confirmation of the validity of our tools.
As always, it has not been so easy to make the vendors accept our estimation. This is also because no other agency had ever presented them a structured estimate before. However, thanks to our evaluation, the clients had immediately understood the concreteness and professionalism of the Group.
The sellers, at first, wanted to decree their initial request of € 750.000 to € 680.000. About a year later, thanks to our statistics service and in order to reach the objective “sale”, they realized the need of reducing it further. So, in December 2018, we established to decrease that price to € 620.000.
As you can see from the following diagram, it is clear how, starting from December, there was a huge property visualization increasing (and this despite the fact that, statistically, during the winter months visualizations usually decrease).
This visibility growth of the property meant that our buyer took an interest in it and so we were finally able to reach the sale.
Moreover, it is important to notice that the passage from € 680.000 to € 620.000 represents a difference of “just” a 10%. This led to a monthly visualization amount changing: from an average of 80 to about 500. So, an increasing of the 600% with “just” a 10% price reduction.
So, the 620.000 requested euros were part of the 10% maximum deviation between “The Best Price” estimate and the requested price we always suggest our clients to maintain: this is the only way that the advertisement we, as a group, develop may bring to very important results.
Personally, I believe that the GE Group, thanks to the Great Estate Method, is able to offer a really unique consultancy aimed to reach the best result in the shortest time possible: with a database of more than 30.000 buyers and about 40 professionals who work in the areas of Umbria and southern Tuscany, if you are able to place a property into the market at the best price possible, the percentage of achievement of the aim “sale” in a few months (6-12) is of about the 100%.
So, we are proud of the integrity and strength of the Great Estate Group and even more motivated to make the vendors understand that, by joying a correct asking price, a great communication and experience, it is really possible to reach beautiful results as for “La Torretta”.
To conclude, I would like to thank the vendors: in our professional relationship, both Mr. Biada and his wife, Maria Antonia, proved to be two truly very special people. It would be great to have the possibility to work with clients like them daily, clients able to recognize the professionalism of those who do our job and respect everybody, including the buyers.
This negotiation left me different things but, one of the most important, is the attention to the details proved when the farmhouse was given to its new owners.
With the occasion of a property visit, Mr. Biada noticed a little problem with the gas cooker: the following day, a specialist came to the farmhouse to check the working of every single cooker.
I think that many vendors should learn from Mr. Biada the way to respect who is willing to pay a large amount of money for a property which, till that moment, is theirs.
Mr. Biada, Mrs. Maria Antonia, thank you very much for the several teaching you gave me.
Stefano Petri
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2018 analysis: the Great Estate method and Stefano Petri’s comments
Stefano's Column 11 January 2019