10104 Farr Oak Place | Farrcroft Fairfax VA Neighborhood
Farrcroft is one of the most sought-after neighborhoods in the Fairfax City area because of its walkability, serene atmosphere and superb housing inventory. The community was built in the late 1990s and most of the homes were completed between 1999 – 2003. As a premier gated neighborhood in Northern Virginia, homebuyers are attracted to the large homes, mature trees and amenities that are offered in Farrcroft. The small community is tight-knit and attracts all sorts of buyers from first-time homebuyers to move-up buyers and even retirees.
Historically, there are only about 14 sales in the community each year. Because the neighborhood is small and particular, there are a few Realtors that are “neighborhood experts” in the community. The original plan for the sellers of 10104 Farr Oak Place was to use a “neighborhood expert”. They met with me just to see what I had to offer, but they told me that they were leaning toward one of the neighborhood experts.
My pitch was simple. Here’s what I told them:
My usual market of Arlington has more competition, more buyers, fewer sellers and in general, moves faster than the Farrcroft Fairfax real estate market. You are not hiring me because I am the Farrcroft expert.
You are hiring me because I am not the Farrcroft expert.
I do business outside of Farrcroft.
I am going to bring marketing ideas and new strategic marketing that has never been seen in Farrcroft before.
The Farrcroft “neighborhood experts” may know which floor plan has a half bath in the foyer and the ceiling height in the family room.
But that’s not what sells houses.
There’s only two things that sells houses: marketing and negotiation..
The house that captures the buyer’s attention online is going to be the house the buyer sees in person and eventually purchases.
And I can show you how we can reach tens of thousands of local, relevant buyers.
The sellers met with the neighborhood expert the next day.
The sellers signed on with me by the end of the week.
The sellers were in the process of purchasing a condo so we only had about 10 days to get all the marketing ready in time for the day the property hit the market.
This allowed us just enough time to record the HGTV-style walk-through video.
We published the video on Facebook and YouTube. Below are the results of our social marketing campaign:
In addition to the videos, we also published the 10 best property photos to Instagram:
For those keeping track at home, the three posts totaled 99,455 views/impressions.
We got close to reaching 100,000 people in Northern Virginia.
However, the sellers did not care “how the sausage is made”. The sellers only cared about receiving an offer (I don’t blame them).
We estimated the market value for the property was around $850,000. Our goal was to get buyers to bid up the price so we chose a pricing strategy that would result in the buyers bidding up the price.
We decided to list the property at $839,900, ensuring us that buyers would get excited about the property and would therefore be more likely to submit a better offer.
We ended up receiving three offers within the first four days that we were on the market.
The sellers accepted an offer for $860,001.
We closed 30 days later in April 2020 (when you-know-what was happening).
We were able to navigate government lockdowns, quarantines and stay-at-home orders for the successful sale of the seller’s property.