Maui, Hawaii
SOLD - $4,510,000
The Challenge
Having languished in an oversaturated market for over two years, the listing for this showcase Maui estate had moved across a number of different price breaks without attracting a buyer. Part of the challenge faced by the homeowner was a large number of other listed properties on Maui in the same price range that offered little differentiation. Another issue was a marketing focus on local buyers. And as the market continued to slow, the seller wanted a quick resolution in order to avoid continued holding costs.
The Solution
Rather than continuing to lower the price in the hope of standing out in an already cluttered housing market, the seller realized that a prospective buyer would need to come from off island, not locally, and needed the wide marketing reach provided by Grand Estates. We quickly planned and launched a global marketing campaign targeting high net worth individuals in North America and Southeast Asia. This focused exposure generated 40 groups of showings across a five-day period, and ultimately culminated in the winning bidder purchasing the property site unseen from China. The global reach of Grand Estates helped the seller take advantage of international interest and currency advantages by attracting sellers who would otherwise have never heard of the opportunity. As the first successful luxury real estate auction ever held on Maui, we achieved a strong sale within a 90 day timeframe.
Having languished in an oversaturated market for over two years, the listing for this showcase Maui estate had moved across a number of different price breaks without attracting a buyer. Part of the challenge faced by the homeowner was a large number of other listed properties on Maui in the same price range that offered little differentiation. Another issue was a marketing focus on local buyers. And as the market continued to slow, the seller wanted a quick resolution in order to avoid continued holding costs.
The Solution
Rather than continuing to lower the price in the hope of standing out in an already cluttered housing market, the seller realized that a prospective buyer would need to come from off island, not locally, and needed the wide marketing reach provided by Grand Estates. We quickly planned and launched a global marketing campaign targeting high net worth individuals in North America and Southeast Asia. This focused exposure generated 40 groups of showings across a five-day period, and ultimately culminated in the winning bidder purchasing the property site unseen from China. The global reach of Grand Estates helped the seller take advantage of international interest and currency advantages by attracting sellers who would otherwise have never heard of the opportunity. As the first successful luxury real estate auction ever held on Maui, we achieved a strong sale within a 90 day timeframe.
