Real estate is a gamble and in every situation the chances are different. There's no equation, and that's what makes it exciting to me.
In this episode, I secured the exclusive to sell Apartment 4 at 54 Pine Street. The building is very small, which many people like, however, it's in a neighborhood where the clients go to find luxury high-rise buildings with amenities at lower prices per square foot. As a marketer, I needed to brand the property well enough so that people can see the value and character behind the kind of place they weren't originally looking for. Part of the marketing is the price.
The apartment in 54 Pine Street is beautiful. It's a completely private home with real character and personality. Plus it's sits on a whole floor which makes it even more exclusive. Now, the problem was that people have a certain perception that's created by the market and society which makes them defensive about how apartments should be priced and why. They all come with their comps in hand, ready to battle.