Graydon - Sold Out: Navigating the Homestretch
In a triumphant moment for Atlanta's luxury real estate market, the Graydon Buckhead is now sold out. The stunning 22-story tower has been closing units since early March, with prices ranging from $1.59 million to over $8.2 million, and it is now entirely spoken for. The last four residences were placed under contract in just two weeks, marking a successful conclusion to the sales journey. Ed Jahn, Senior Vice President of Kolter Urban, who oversaw the sales for the project's division, has shed light on the strategies and tactics that helped them cross the finish line.
As with any project, the closeout phase brings its own set of challenges, particularly when it comes to communicating the true essence of the property to prospective buyers. "Our push was to get as many people in there as possible to show them the quality and the layout of the building," Jahn shares. As he puts it, "It's hard to grasp the soul of a property unless you're there… but once someone is able to see the building in person, it comes to life for them." Their approach was complemented with furnished models, which helped potential buyers envision their life within the walls, emphasizing the importance of an immersive experience in selling property.
Diving deeper into closeout strategy, Jahn touches upon a challenge many developers face when selling the last few residences. There's a common misconception that the final units might not be as appealing as the ones already sold. Jahn disagrees, “The four residences we [had] left are beautiful and each offers something different.” Again, underlining the unmatched value of in-person visits, he states that “people make assumptions about what they're going to see. And when they come out and finally experience the property, the unit, and the common area, they're always blown away.”
Transitioning from their comfort zone in Florida to the Atlanta market, Kolter Group and Jahn had to be swift learners. "The Atlanta market is different from our typical market," he reflects, pointing out how Graydon was their inaugural high-rise project in Atlanta. Adapting to this new terrain meant recognizing and appreciating the unique buying behaviors of Atlantans. He explains that a share of Graydon’s buyers came from a single-family home, noting that they don't necessarily make quick buying decisions and are very thorough. This thoroughness demanded precision, dedication, and a keen understanding of what the local market desired.
For Jahn and the Kolter Group, the journey wasn’t one they took alone. Partnership with Ansley/@DG played a pivotal role, providing both market insights and personable sales experiences. "The horsepower that Ansley brought to us, being new in the marketplace, was important to us. We wanted to make sure that we partnered with somebody that was well respected," he acknowledges. “Chris and Heather, our sales agents, were also extremely invaluable. Both are unique in the sense that they are super personable and can relate to anybody. And that, to me, is so important in a project because they are keen on what the buyers are looking for.”
Reflecting on the journey of Graydon, one can see the intricate dance of strategy, market understanding, and effective partnership. As Jahn wisely notes, "The brokers are the boots on the ground, they have the pulse of the community." Throughout every step in its sales process, Graydon's success story reinforces the idea that while data and market insights are invaluable, it's the human touch – from in-person visits to genuine partnerships – that truly makes a difference.