Sold Story – Made Big Profit Off Sweat Equity
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Updated 2/22/20. Details and additional reading added.
At Diggs, the difference is in the details. When selling your home, our ability to effectively tell your story to the market place means that we’re not only going to attract a lot of buyers, we’re going to attract the right buyer. Sometimes getting a home in top-selling shape means making a transformation. That’s where the Diggs Transformation Team comes in turning ho-hum into ooh-ah, significantly increasing value.
CASE STUDY #1: RAMSDELL
We knew our home was more “lived in” than “show ready”. DIGGS helped us stretch our tiny budget and helped us with low-cost financing to do a bit more besides. We never could have done this without DIGGS. Luaren and Tyson Cobb
The Client – The Cobb Family
The Cobb Family consists of Tyson, Lauren, three teen-aged children, and Holly, the lovable, slightly daft standard poodle.
The Challange – Maximum Profit, Minimum Cash
Tyson and Lauren had built their dream home – but the Great Recession destroyed their consulting business and they had run out of ways to make ends meet.
The family had used nearly all of their life savings as they scrambled to recover. When an opportunity came to relocate to another state, the Cobbs had very little money to invest in the marketing of their home.
But selling “as is” would have been disastrous – local buyers were unlikely to appreciate the home’s contemporary style. The Cobbs needed eye-popping marketing to appeal to the urban buyers located in nearby communities.
The Solution – The HGTV Effect
There is a reason HGTV is so compelling and why home builders invest millions in outfitting model homes. Pretty homes sell faster, and for more money. DIGGS follows the following process to create an effective and affordable plan.
- Identify the ideal buyer profile
- Identify the highest ROI projects to attract the ideal buyer
- Create an affordable plan with the best tradespeople
- Assist with project management services
When Tyson and Lauren heard the DIGGS marketing plan they felt a glimmer of hope.
DIGGS provided a low-cost loan with payment deferred to the close of escrow. The loan allowed them to invest in staging and other high-profit projects. DIGGS also provided access to local tradespeople willing to provide affordable services and favorable payment terms.
The Cobbs also invested their own time and labor. They moved most of their possessions into the garage and assisted with the landscape projects and some of the painting.
Then DIGGS created a handcrafted marketing campaign designed to reach and influence buyers and their agents in nearby urban neighborhoods.
The Results – $149,500 Net Profit Over Expectations
The DIGGS handcrafted marketing attracted potential buyers from all over the Greater Los Angeles area, one came from as far away as Malibu. The multiple offer dynamic allowed DIGGS to negotiated unusually favorable terms and timing that allowed a near-seamless transition for everyone.
The marketing included a real-time 3D scan of the home’s interior that provided a Google Street View type experience and a targeted email campaign to influencer agents and brokers outside the local area.
In 12 days the Cobbs attracted 8 offers and sold for $1,111,000 to an out of area buyer. This was $61,000 over the asking price and $149,500 more than their initial expectations.
Finally, the Cobb Family could breathe a little easier and the unexpected bump in profit gave them more flexibility in their next move.
The DIGGS personal network included a referral to an amazing Realtor in their new area and the Cobbs were able to afford a new dream house for their happily ever after.
The Details – Before And After
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