Not on Chad's Watch
Chad explains what he knows about open houses, why Chris might be crazy, and why he respects Sam.
People come to Miami to be entertained. This house on Palm Island and location is the symbol of entertainment. It provided an amazing opportunity to not only sell the house, but to promote the owners' business and allow the guests to enjoy a night out on the town. It wasn't easy to reschedule the open house, but it ended up being a fantastic turn out because everybody wanted to get a look at the best value on the island.
I've sold hundreds of millions of dollars in real estate in Miami and have worked with many different buyers and brokers to develop the right formula of what it takes to have a successful open house. I don't make this stuff up.
Chris and Senada's listing at One Thousand Ocean is over the top for Boca Raton. It has incredible outdoor and social space, but the finishes are nothing to brag about. The layout of the penthouse isn't ideal and doesn’t flow.
I think Chris has been spending too much time in the spa because he must be daydreaming to think that this PH in Boca is worth $20 million. One Thousand Ocean is an incredible building and that PH is amazing, but $20 million is reaching for the stars. I think Chris should sit back and let Senada take lead on this one.
When I met Paolo at Red Hotel to discuss his offer, I knew he meant business. When he presented me his first offer I knew from past dealings with him that it wasn't his highest and best. When negotiating in real estate it's important to know who is across the table. Often real estate brokers will fake facial reactions, phone calls, and offers in order to get the deal done -- but not on my watch.
When I met with Stacey and Eric at Mansion nightclub to present Paolo's offer, I knew it wasn't going to make Eric excited initially. If you remember when I first sat down with Eric and Stacey to discuss listing their home, Stacey was thinking about reducing the price to $3.5 million and Eric wanted to list at $3.995 million. There's a difference between what you want and what is realistic, and I knew that they were realistic sellers. As a seasoned real estate professional, it's important to be honest with your clients and manage their expectations. When Eric walked away from me in the middle of our conversation, I didn't know what to think. I never want my clients to be upset. However the truth is the truth, and if he wants to get the deal done -- this is the highest offer he’s going to get.
Sam made the right move by backing out of her listing. Though she should have never taken it on at that price. I have to respect the fact that she stood up for what she believed. Good job Sam.