Last year, we partnered with Preferred Agent Partner John-Mark Mitchell of Mitchell Prime Properties to sell 480 Stonegate Lane in Winston-Salem, North Carolina. It wasn’t the first time we teamed up with Mitchell, and it wouldn’t be the last. 

In fact, just earlier that year we partnered with Mitchell for the sale of C’est La Joie in Cary, North Carolina. That sale was the highest recorded sale in the Raleigh-Carey Metro Area in 2015.

480 Stonegate Lane had previously been listed on and off the market for several years. After four weeks of our global marketing, combined with Mitchell’s local efforts, we narrowed a field of ultimately 141 prospects down to five registered bidders. 

The result? The bidders competed, and 480 Stonegate Lane sold for $1.35M, the highest sale in Winston-Salem, North Carolina for the entire year of 2015.

And now, in 2016, we have done it again. Let’s break down how.

THE AGENT IS KEY
Any sale that we successfully execute can’t be done without our agent partner. We consider ourselves an additional tool for agents to use. We expose their listings to a global audience, giving their sellers predictability, control, and liquidity on their timeline.

We have never sold a property without an agent partner.

After partnering with us on five properties, John-Mark Mitchell has the track record to back up his confidence in our platform. He introduces the Concierge Auctions platform in his initial presentation to clients who are selling a house valued at $2 million or higher.

Mitchell believes the best way to sell a luxury home is to prepare the seller for the possibility of auction from the outset.

“We try to work a deal where, if a property doesn’t sell in six months, we’re going to auction. The sooner you get auction on the table and get the seller educated to understand the process, the faster and higher the sale price will be,” he explains. “It’s a necessary means to an end — the end being the result of the highest possible price.”

WINSTON-SALEM’S TOP SALE OF 2016
When Mitchell listed 508 Stonegate Lane, he prepared the seller for the possibility of selling via auction. They put the home on the market for about two months and weren’t pleased with the results. That’s when Mitchell reached out to us, enlisting our global marketing efforts to bring greater exposure to the property.

Our market reach identified 623 prospective buyers, but then something interesting happened. Before the scheduled auction date arrived, a buyer stepped forward with an accepted offer.

Sometimes, this happens.

Certain buyers see one of our properties and make up their mind; they have to have it. They do not want to wait until an auction and risk a higher price from competing bidders, or worse, possibly risk losing the home.

That is exactly what happened with 508 Stonegate Lane. A buyer emerged before the auction date with a very strong offer. When this happens, the offer is weighed against our own metrics. We provide a prediction range of what amount a seller should expect to receive for their property when we go to auction. That prediction is compared to the offer, and a recommendation is made.

In this case, the seller accepted the offer. 

508 Stonegate Lane sold for $2.275 million, marking the highest sale in Forsyth County for the entire year of 2016.

A FRUITFUL PARTNERSHIP
Achieving the highest sale in the Winston-Salem market for the second year in a row is consistent proof that our platform is the best way to buy and sell luxury homes. 

Not only has Mitchell produced the highest recorded sale for two years in a row, but he also has the highest average sale price for the market. In Forsyth County, the average sale price of a home is $172,000, but Mitchell’s average sale price is $810,000.

Mitchell credits the tools we provide for helping grow his business. “Having been a partner with Concierge Auctions, they have provided me a tremendous amount of business that I am very thankful for,” says Mitchell. “It means everything in business to have the position of saying you are number one.”

The record-setting sale of 508 Stonegate Lane is a perfect example of something Mitchell has noticed about our transactions.

“I have been involved in sales where you walk away from the table with both buyer and seller feeling fairly and justly represented,” he says. “They are all happy at the end of the day. Everyone feels like they came out the winner. That is what separates most transactions in the high-end range. Everyone feels like they got a fair shake at getting the price they wanted.”

We look forward to setting more records with John-Mark Mitchell in 2017.

If you are an agent who wants to set records like John-Mark Mitchell, learn more about our Preferred Agent program on our Preferred Agent Page.

If you have a listing that would be a good fit for Concierge Auctions’ marketing, call 212-202-2940.