Enso – new South Lake Union Condominiums
Matrix Real Estate took over the sales campaign in June of 2009 just as the Seattle market was in its downward spiral. In a collaborative effort, the Seller and Matrix Real Estate developed a pricing and product positioning strategy that would send a consistent message to presale and future buyers throughout the remaining campaign.
It is rare you get the opportunity to work with a Seller such as Vulcan Inc. who was willing to see the market and where it was headed before the competition. As a team we re-priced the building to meet the new market. We then contacted the existing presale buyers with our new pricing strategy and an experienced sales team who knew how to work through the challenges these buyers were facing. We were then able to manage which buyers were going forward with their purchase and which ones were not so that we could have available inventory to go to the open market with as soon as possible.
We then built a message to prospects that we were an open book showing them the true existing sales in the building with a clear message that the pricing was in line with other sales of that unit type and therefore the buyer could have confidence that we weren’t going to “dump and run” or go to auction. Our job was to sell the value of living at Enso and to do what we could to not lower the future value of their home.
We then launched Enso to the general public and with our message offered trust and integrity to buyers in a very difficult and tumultuous time in the market. We were pleased to be able to sell on average five sales a month throughout the entire campaign. With our competition floundering around us and going from one marketing message to another, we stayed consistent with our message and were able to gain the trust of our buyers to invest in Enso. It is a great building and we feel proud to have so many new happy homeowners in the emerging South Lake Union neighborhood calling Enso home.