How can I create urgency to sell my luxury home on the Kona-Kohala Coast when the market is slow?
by Dan Polimino
Quick Answer: As a seller, you cannot create urgency in the overall Kona-Kohala Coast market; you can only create urgency for your specific property. This is achieved by making your home the undeniable best value—a combination of superior condition and aggressive pricing—which, in a buyer’s market, typically means pricing 5–10% below the immediate comparable sales to trigger immediate buyer action.
Key Takeaways: Mastering Value in a Buyer’s Market
- Value is the only lever: In slow markets with high inventory, buyers prioritize value, defined as the relationship between price and condition.
- Pricing drives urgency: Decreasing the price below comparable sales is the most effective way to create immediate urgency, often resulting in a quicker sale and a higher net return than extended time on market (DOM).
- Condition supports price: Maximizing condition (staging, repairs, presentation) ensures that when you drop the price, buyers perceive the home as an exceptional deal, not a distressed listing.
- High Days on Market (DOM) is toxic: Every week your home sits unsold on the Kona-Kohala Coast, buyer perception of its value decreases, making deeper price cuts necessary later.
Over nearly two decades selling luxury homes and vacation rentals on the Kona-Kohala Coast, I’ve worked with hundreds of affluent sellers facing this exact dilemma. One of the most common questions I hear is: ‘How do you create urgency in a market that has no urgency?’
The answer isn’t magic—it’s a system. What I call the Polimino Value Proposition Strategy is the result of years of testing, refinement, and proven results in micro-markets like Hualalai and Mauna Kea. But rather than just telling you about the system, let me answer the three most common questions sellers ask me about creating urgency. These are real questions from real sellers, and the honest answers that explain exactly what we do differently.
Should I decrease the price or improve the condition of my Kohala Coast vacation rental to attract buyers?
Quick Answer: While both strategies increase value, decreasing the price is the primary driver of urgency, especially for second homes and vacation rentals where buyers are highly focused on investment metrics.
In a non-urgent market, buyers have time to shop. They are not competing against each other; they are comparing your home against every other available listing. The market is not urgent because the buyers are not urgent, and they are not urgent because, frankly, inventory is high. Therefore, you cannot wait for the market to change; you must change your property’s position within the market.
Value is the relationship between price and condition. If your price is high and your condition is poor, your value is low, and your home will sit. If your price is low and your condition is excellent, your value is high, and you create immediate urgency. The Polimino Value Proposition Strategy dictates that while condition (staging, deferred maintenance fixes) is crucial for justifying a price, the price itself is the lever that triggers the sale.
If you have to choose one, choose price reduction. More often than not, a well-priced average home sells faster than a high-priced beautiful home. Buyers are primarily driven by the perception of a
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