'Selling New York' Recap: CORE Sells 5th Avenue Penthouse for Over $6 million

GatherMarch 26, 2012
This week on Selling New York Vickey Barron of CORE meets with her client, Ivan Schneider, who is selling his penthouse apartment to retire in Florida's sunshine. He's already bought a place in Florida so he hopes to sell the apartment quickly and he's a little pushy about it.

Ivan's apartment is 2,400 sq. ft. The list price is $6.995 million. There's one small issue, the building does not allow open houses so Vickey needs to get creative with her marketing campaign. She decides to create a marketing competition between two of her sales teams. The winner will receive a $10,000 bonus when the penthouse is sold, a good incentive to sell the place.

The first marketing team presents a past, present and future scenario to prospective buyers and brokers. They hire an architect to create 3D images of how the penthouse could look with a modern renovation. They also provide a history recap focusing on the location of the apartment on 5th Avenue. The presentation goes extremely well.

The second team provides a multi-media marketing plan. The present a time-lapse view of the sunset from the outdoor space of the penthouse and give a glimpse of a renovation, which maximizes the enormous views from the apartment.

Vickey meets with the executive team and they decide that team one provided the best marketing campaign. They win!

Several potential buyers look at the penthouse as a result of the marketing competition. One potential buyer comes back for a second look and loves the renditions of the new modern look to the penthouse. They make an offer and it's accepted. Team one gets $10,000!!!

Next, Vickey is asked to sell the furniture for Ivan... it's a win-win for everyone involved! Bonus round in the money category...

The second scenario, Michele Kleier takes two new recruits, John and Isabel, to the Financial District to sell a great apartment with killer views of the New York Harbor. The apartment is listed for $1.495 million and has just over 1,200 sq. ft.

Michele is anxious to sell the apartment because the sellers want to purchase another place but are unwilling to buy until they sell their current home.

John and Isabel hold an open house on a Sunday morning. The turnout is low. Michele's advice is that Sunday mornings are not a great time to showcase an apartment. She lets the interns learn a valuable lesson in the real estate market without controlling the process, the sign of a great leader.

John and Isabel hold an open house on a Sunday morning. The turnout is low. Michele's advice is that Sunday mornings are not a great time to showcase an apartment. She lets the interns learn a valuable lesson in the real estate market without controlling the process, the sign of a great leader.

John and Isabel have a second open house. They think they need to lower the price to $1.3 million. The owners are hesitant to drop the price $200,000 but they agree. The recommendation works and they get two offers almost immediately. The apartment is sold and Michele is able to move forward.

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