This is a Case Study on using Compass Private Listings and the Compass 3-Phase Marketing strategy. A colleague recently met with the seller of a newly built home early last year.

The house was still under construction and the challenge for the developer was:

1.  They did not want to list the property until it was much more completed, staged and truly in a position to be 'seen' in all its glory (it's difficult to see the value of any house without the finishes in place). Most consumers have a hard time gauging dimensions and how they would live in a home when it's unfinished space but prefer to see more completion as they're adept at seeing tangible things like faucets, appliances, floor finishes, etc.

2. They did not want the listing to accumulate "days on market" while the house was being built.

3. In addition to not accumulating "days on market" during this period, the listing agent was in a position (as the exclusive broker) to control the narrative associated with this new product, protecting the market's perception of this product in the process. Mixed messages can damage a marketing strategy.

4. Select buyer and agent "sneak peaks" became a focus group as it relates to price and how to best position this product for the market.  The more informed agents are, the more feedback or lack of can be generated and analysed to help adjust or confirm the pricing strategy and timing especially when dealing with the high end of the market.

5. Anyone amongst this group may feel more incentivized to bid knowing it may come on the open market, thereby eliminating privacy. Seeing it in the lesser unfinished condition could force some creative thinking too, possibly allowing for some modifications. Sometimes this fuels some urgency.

6. Once the house neared completion, it was listed as a Coming Soon (with some teaser photos and/or renderings), to build anticipation of this exciting newly built home. This happened once more once the landscaping had been installed.

7. After the Coming Soon period ended, the house was listed on the open market via the MLS and has since gone under contract.

The Compass 3-Phase Marketing Strategy (starting with a Private Exclusive as an immediate solution), appealed to the seller as it does to almost all builders and developers who do private-exclusive-listing-style marketing all day, every day and have done so for decades. This is not discriminatory in any way. The listing agent brought in buyers and agents from everywhere/anywhere who were financially qualified to buy and preview during this private/quiet marketing phase.  It helped gather information in many areas, not just the price where the developer received feedback about strengths and weaknesses to adjust the price accordingly (an asking price is often the most potent marketing tool of all).

I will continue to share stories that help explain the benefits to some (not all), that marketing privately and 3-phase marketing offers. Often it is in the best interests of all, not just sellers!