GATIEN SALAUN

1200 West Avenue #1126, Miami Beach, FL 33139

REVERSE PSYCHOLOGY PRICING

Landlord Representation Case Study

Transaction Stats

+40%

Higher Than Building Record

8

Days On Market

7.75x

Faster Than Average

27

Days From List To Close

BACKGROUND

This client came to me with the intention of converting his primary residence into an investment property after having lived in it for nearly 5 years. He wanted the convenience of leaving all his furnishings and was hoping to achieve a decent profit on top of his monthly holding costs, which included a few condominium special assessments.

CHALLENGE

We were seeking a price 40% higher than the most comparable two-bedroom properties in the building. Nearby competing condos were available for the same price or less, but in far better buildings, neighborhoods, and preferred school districts.

STRATEGY

To distance ourselves from perceived overpricing, we positioned the property in a price bracket far above anything else in the building and closer to condos in superior buildings such as the Waverly and Floridian. This change in price shifted the focus and had us competing with properties in the superior buildings. Despite the higher price point, we were able to differentiate our property by offering a fully furnished and well-maintained unit. This set us apart from other comparable listings in the $6,000 to $8,000 per month range. To maximize the selling price, we maintained flexibility in the furnishings while emphasizing the property's unique features: stunning views, modern design, excellent location, and two deeded parking spaces.

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OUTCOME

We represented the landlord in securing a lease for this property at a record breaking price that was 40% higher than any previous leased property in the building. We found a tenant for it in just 8 days and rented it for $7,000 per month.

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GET IN TOUCH

GATIEN SALAUN

Phone

(561) 414-3565

Email

[email protected]

Address

1682 Jefferson Ave., #103 Miami Beach, FL 33139

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