OH by appointment

Usually when I do an OH by appointment, that is dictated by the building, not by me.

Other than that, I think it depends on the niche in the market. With "starter" listings, I found that an open door OH attracts a lot of people who are new to their search, not yet ready to buy.

For something like you describe, however, the demand is going to be there -- and there's going to be a lot of it. (I have buyers who would spend $3mm uptown, and other buyers who would spend $4mm downtown, and there's nothing in particular to show them). I might ask your broker to do a "brokers' open," just as a dry run, and then a regular OH, and see what bidders you get.

ali r.
{downtown broker}

Thanks Ali. That's helpful. In terms of judging the list price, if comps of similar units (perhaps others were just not as newly renovated) were in contract within 30-45 days, would you consider those correctly priced? There is one in building next door that is same size just lower floor and not as newly renovated for example so figuring out how much higher we can go. We're not in a rush but don't want to miss the spring buyers and get stuck in the summer.

@aael, when are you planning to come to market? I would skip next weekend because of the Passover/Easter holidays, but I think you could price aspirationally the weekend after that, give it 2-3 weeks, and then do a price chop if you need to.

Because comps with older renovations that went into contract earlier in the year might be correctly priced, or they might be low -- I can't tell without more info.

ali

Ali, Thanks again. We will come to market the weekend after the holidays as you suggest. I think your advice makes sense, and we will go this route - price aspirationally and see what happens. It's your nabe, so incredibly low inventory as you know. The variable is the value of the reno which is very high end (and convenient in terms of storage, new plumbing and electric), but it may not be entirely apparent from the listing or fully appreciated.

I don't think I have anyone for it, but please drop me an email at upstairsrealty [at] gmail [dot] com just in case.

FYI, I heard - I'm not marketing it -- that the 2 in my building (which is big enough to be a convert-3, though it's not being marketed as such) got 40 shoppers at the first OH.

ali