Didn't Sell? Maybe You Still Will

There can be grand emotions and expectations that get poured into the process of listing a home for sale.

What if you have a really special property? One that belongs on the cover of a magazine, even?

You might have even higher expections, and even grander emotions.

(We kinda know what this feels like, as we recently sold a home that was on a magazine cover.)

But not every home that's listed sells. 

And a magazine cover doesn't come with a guarantee.

It can be deflating when the attempt to sell doesn't work out.

Don't worry, there's a happy ending to this story.

Bold, Beautiful and Minimalist on Marine

Back in May, 515 Marine Ave. (5br/5ba, 3734 sqft.) came to market. 

Our initial comments were limited, as there had been no broker's open and we hadn't yet toured. 

We just said, "You never, ever know what you might find behind the front door of a Manhattan Beach house."

Later, we did tour with clients, and what we saw was exceptional, elegant, unique and ultra-minimalist. 

Turns out, the home was a custom, personal project by the owner, whose resume, according to this article in South Bay DIGS, "reads like a master class in luxury design." (The property was featured on the cover of DIGS.)

The home, touted as having "refined European craftsmanship," is pulled back off of Marine Ave., such that you would never know where you are – it's a private, self-contained space.

Inside, it features bright, open living spaces built around an internal atrium-style yard space. The muted whites, lightly stained wood flooring and otherwise soft color scheme creates a calm and orderly atmosphere.

Yes, yes, all that – and they were asking $6.995M, an elite-level price not often hit in a location without views.

But when you've got something special, you can ask what you think it's worth. 

Seven weeks later, we happened to be passing by as the sign post was being removed from in front of 515 Marine. The listing had quit.

Awwwwwww, we thought. That place was pretty cool. Too bad.

Some Homes Are Unforgettable

Turns out, the marketing had worked. It just wasn't obvious yet.

While the home was listed, a buyer saw it and fell in love. 

They just hadn't acted quickly enough, and the sellers had taken the home off the market.

Eventually, those buyers got back in touch. 

And now, 515 Marine is sold, for "most" of its asking price: $6.575M (-$424K / -6%).

It Could Happen to You

A home doesn't have to be an elite-level custom build, or on a magazine cover, to have a similar experience. 

We've both written offers on canceled listings, and had buyers come to our listings while they were "between MLS listings" (say, on a holiday-season break). 

The lesson: Buyers are watching. They form opinions. They like what they like. 

Sometimes, they're just not ready. Other times, they're watching the listing, waiting for the seller to make a "first move" (meaning a price cut) before they'll engage. 

When the property falls off the market, suddenly, these buyers say, "Wha wha wha?!?!? We liked that one!! Hold on! Come back!"

And then you get a sale.

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Postscript

True story: We once had a seller specifically propose going off the MLS in order to trigger interest in the property.

Although we've seen that happen, we did not concur that quitting in order to sell was actually good marketing strategy.

After all, about 96% of homes locally get offers while they are active on the MLS. It's better to count on what usually works.

But maybe don't worry too much if it doesn't pan out – you might indeed have a secret admirer out there who will call.