Case Study of Public Company CEO and Architecturally Significant Home

When a CEO of a public company was moving to Dallas fifteen years ago, he was looking—preferably—for a modern home on a good lot. He was both an outdoorsman and an artist, in addition to being an incredibly successful business leader. I was enthusiastic about this home because it was designed by a very good architect, David Stocker, with a design and materials that accentuated an exceptional site on 1.3 acres backing up to a free-flowing linear lake.

Attributes of Modern Home and Site Outweigh Deficiencies

The home did have some drawbacks, including a kitchen and master bathroom that were somewhat awkward, and one bedroom that had been built with three built-in bunk beds for the previous owner’s triplets. The interior finishes also did not enhance the home. These drawbacks—reflected in the purchase price—were minor when compared to the underlying architecture, space, proportions, and the beauty of the lot.

My Client Enhanced an Architecturally Significant Home

My client who purchased the home did not simply hire a contractor to modify the kitchen and master bedroom. Instead, he retained the original architect, David Stocker, to redesign these rooms and make additional refinements. He also engaged a landscape architect to enhance the landscape. The landscaping alone added well over a million dollars in value.

Most properties on a creek or body of water have a boundary line that more or less runs down the middle. In this case, the homeowner owned land on both sides of the linear lake. Ten feet across the water was enough room to plant trees and foliage that completely screened the homes on the opposite side. What had been a pretty lot was transformed into an urban paradise—a curving lake disappearing into forested boundaries in the distance. A crisp edge of landscape design, combined with organic and softened planting, accentuated both the modern architecture and the woodsy character of a property that felt removed from the city.

What a Current Homeowner Loves About Their Home — a Buyer Will Love

I often say that what a current owner loves most about a home, the next buyer will as well.

The next buyer was an architecture aficionado. He had commissioned homes in and out of Texas that were featured in national design magazines and presented through the Dallas Architecture Forum lecture series. He understood good design and was highly discerning. When he called me, he said he was on my website often and knew that I had a deep understanding of architect-designed and architecturally significant homes in Dallas. He asked whether I knew of anything that might be coming up in Preston Hollow. I told him I might and would get back to him. And I did get back with him in two months.

A Listing Agreement Well Before the Home Goes on the Market

The homeowner had already asked me to represent him in the eventual sale of the property, and we entered into a written agreement. While he did not yet know when, within the coming year, he would be ready to put the home on the market, we agreed to begin the preliminary work. This is a phase I always enjoy and believe is essential.

An Agent’s Preliminary Work Always Pays Off

Some agents prefer to pursue a quick off-market sale or move rapidly to MLS before investing real effort in presenting a home. I prefer that any potential buyer have a full understanding of the property, which I believe leads to a good and graceful sale. Preliminary work may include a fresh survey, preliminary title work, architectural floor plans that are easy for a buyer to understand, professional photography, and a written narrative of the home. There is a dedicated section for the home and property on my website, where it is presented as an example of good architecture and its neighborhood.

This Home was Brought to the Attention of the Potential Buyer

Once the homeowner was comfortable with my mentioning the property to a prospective buyer prior to formally placing it on the market, I shared the home with him and sent all of the material and images that had been assembled. The buyer responded very favorably. Seeing the home in person simply confirmed his impression.

The Buyer Confirmed He Loved the Home

It then became a matter of defining the closing date and the two-month period following closing during which the seller would remain in the home. Within those parameters, the buyer made an offer that was acceptable to the seller.

Graceful Transaction

This is a good example of working with a buyer who has a strong eye and being able to negotiate the purchase of a home that is superior to others on the market—and capable of becoming even better. When it came time to sell, the qualities the homeowner had identified, valued, and enhanced made the property irresistible to a sophisticated and knowledgeable buyer. By doing the preliminary work, the buyer had a clear understanding of the home and was able to evaluate and purchase it with confidence and clarity.Discuss Representation of an Architecturally Significant Home with Douglas Newby