Challenges

The market experienced eight rate hikes, resulting in 375 Basis points swing in the federal funds rate from July 2022 to July 2023. In short, the implication of these hikes resulted in a smaller buyer pool for active real estate listings due to the increased cost of capital. At the time of marketing, the property had 12 Years of term remaining with a double net lease structure, making ownership responsible for the roof and structure of the property. During the property’s listing, the subject property competed with 78 other Dutch Bro’s listings. Of these 78 properties, 76 benefited from longer lease terms. Most importantly, all 78 sites the subject property competed with benefited from the Absolute NNN lease structure, giving ownership no landlord responsibility for any capital expenditures moving forward.

Action

Using multiple outreach vehicles, including but not limited to email and text campaigns, cold calls, and third-party services, the agents ensured that the subject property remained top of mind in a market with a large oversupply of assets. By taking a hands-on approach, directly marketing the property, and not relying on third-party platforms, the agents were able to speak with potential buyers in real-time. This provided potential buyers with more understanding of the list price, were aware of the deal’s highlights, and overcame possible objections to the site.

Results

The agents generated three qualified offers within the first two months of listing the property and ultimately closing with the first buyer put under contract closing at 96% of the list price.

Client Testimonial

“Dear Jack and Matt, I’m writing to express my gratitude and share my experience of working with you during the sale of my property. My overall experience with both of you was exceptionally positive. What particularly impressed me was your comprehensive analysis of the market and its conditions, which played a crucial role in the sale process. Your strategic approach to positioning the property in the market was not only thoughtful but also highly effective.

The holistic conversations we had whenever a potential deal was on the table were insightful. These discussions not only reflected your professionalism and market knowledge but also your commitment to ensuring the best possible outcome for me as your client.

Jack, your dedication in reaching out to potential buyers was commendable. Your steadfast efforts in making calls and developing contacts significantly enhanced our prospects. The regular updates you provided, at least on a weekly basis, kept me well-informed and involved in the process, which I deeply appreciated.

Moreover, although not directly involved in locating a replacement property for the up-leg of my 1031 exchange, Jack, you went above and beyond. Your thorough research, interviewing, and scrutinizing of residential brokers until you compiled a short yet comprehensive list was incredibly helpful. The referral to a broker who embodied the qualities we were seeking was a testament to your dedication and understanding of my needs.

Reason For Selection:

I had not actively reached out to any brokers when considering selling my property. However, Jack, your proactive approach in finding me and leaving a voicemail was what initially drew my attention. This proactive nature is a testament to your steadfast ability to connect with sellers and buyers in the marketplace, ultimately leading me to choose your services after speaking with other brokers.

I chose to work with you both based on your reputation for thorough market analysis and strategic positioning of properties. This decision was reaffirmed throughout our collaboration, as you consistently demonstrated these strengths.

In conclusion, your combined efforts not only facilitated a successful transaction but also provided a learning and engaging experience for me. Your professionalism, market expertise, and consistent communication are commendable. I am grateful for the successful sale of my property and the excellent service you provided, and I would not hesitate to recommend your services to others.”