When it comes time to sell your house in San Francisco, you’ll not only face the competitive SF real estate market but also unique personal challenges of your own—especially when the property in question is a fixer-upper. (The quick definition of a fixer-upper is a house that needs some work before you can really live in it comfortably.)
However, with the right approach and a dedicated team of specialists, even the most challenging of home sales can result in success. In this Real Estate Case Study, we'll explore how our team of top San Francisco real estate agents helped a couple to sell their fixer-upper property in Russian Hill.
The couple had originally purchased the property with plans to fully remodel it, but their plans were put on hold when they bought a different home in their old San Francisco neighborhood. Faced with the prospect of paying two mortgages and unsure about the rental potential, they decided to sell their Russian Hill home.
Having only purchased the home two years ago, the sellers had concerns about the perception of their motivation to sell. They worried that potential buyers might think they abandoned the remodel plans due to feasibility issues. They also had reservations about the costs associated with staging the property.
Our team, led by listing agent Katie Funk Moss and lead listing strategist Danielle Lazier, worked closely with the sellers to address these concerns and develop a strategy that was both comfortable for our clients and effective to maximize the property's appeal to potential buyers.
To address the sellers' concerns about perceived motivation, we included a note from them in the disclosure packet and communicated their perspective during showings and open houses. This helped potential buyers understand that the sellers had loved their time at the property and were moving for other reasons.
We also sourced a stager who offered competitive prices, and upon presenting the broken-down costs, the sellers were pleasantly surprised and agreed to all the recommended items. This decision proved to be crucial in attracting the attention of potential buyers and commanding the highest offers.
Throughout the process, our team maintained regular communication with the sellers, providing updates after every open house and showing, and checking in to see how they were feeling. This approach enhanced their trust in us and allowed us to address any concerns proactively.
Despite the challenges posed by the property's condition and the competitive market, our collaborative efforts paid off. The property received a total of three offers, and through counter-offer discussions, we obtained a non-contingent offer for the full asking price of $1.298M, which reflected a price of $1,091 per square foot.
The sellers were happy with the result, considering the property's condition and the market conditions. The $10,750 spent on improvements and staging proved to be a worthwhile investment, as it significantly contributed to the successful sale.
Empirically, these outcomes are hard to test—you can’t sell the exact same property twice at the exact same time. However, in our experience as top SF Realtors since 2002, with roughly 1,000 SF Bay Area home sales under our belts, we can say with absolute certainty that the quality of your presentation and representation (meaning who you hire as your agent) can make all the difference in your home sale. Sometimes to the tune of up to 10% difference in sale price.
Selling a fixer-upper property in San Francisco can be challenging, but with the right approach and a knowledgeable team of professionals, your outcome can be a great one. In this case, by addressing the sellers' concerns, implementing cost-effective staging strategies, and maintaining open communication throughout the process, our San Francisco real estate agency was able to help these clients to achieve a successful sale.
If you're considering selling your home in San Francisco, whether it's a fixer-upper or updated and move-in ready, we’re always here to guide you through the process and help you achieve your goals.
Contact us today to discuss your personal situation and explore your options. We’d love to help you navigate the San Francisco real estate market with confidence!
