A Sarasota real estate professional recently demonstrated how strategic pricing and messaging can transform a difficult listing into a competitive bidding situation, offering insights into the psychology that drives buyer behavior in challenging markets.
The Problem Property
Vlado Konatar from Kona Realty Group faced a common challenge: a home in Venice from the 1980s with nothing updated. Everything remained original. Walking through, the work required was obvious and extensive.
“I listed it at market price and did a huge open house with heavy advertising,” the Kona Realty Group founder explains. “About 40 people came through between one and four. Then the offers started coming in, and every single one was way below asking price because the home needed so much work.”
Most professionals would have returned to the seller recommending a price reduction. Konatar took a different approach, deciding to reframe the opportunity entirely.
Changing the Psychology
“I told potential buyers I had offers above the asking price, even though there was only one potential offer that never really materialized,” he admits. “That completely changed the psychology and feel of the deal.”
The shift was immediate and dramatic. Instead of lowball offers on a property that needed work, Konatar started receiving 10 offers significantly above the asking price. The momentum was strong enough that he and the seller made an unusual decision: they increased the list price.
“We ended up getting above asking price even after the increase,” Konatar says. “I really loved how I changed the entire dynamic in just a few hours.”
Why the Strategy Worked
The strategy succeeded because it tapped into competitive psychology and loss aversion. Buyers who initially viewed the property as a problem to solve at a discount suddenly saw it as a scarce opportunity others wanted. The fear of missing out drove behavior more than the actual condition of the property.
This kind of strategic positioning reflects broader trends in markets where some segments struggle with inventory and buyer hesitation while others experience intense competition. Understanding which psychological levers to pull can make the difference between a product that languishes and one that generates multiple offers.
The principle extends beyond real estate. In any competitive market, perception often matters as much as reality. A product that could have sold at a significant discount instead went for above asking price after an increase. The difference wasn’t the product. It was how the opportunity was framed and the competitive environment that was created around it.
Creating the Right Environment
For properties in competitive segments, creating the right psychological environment has become essential. “Most buyers know what they want, and they’re willing to write a check on the spot if the property meets their criteria,” Konatar says. “But creating the sense that others want it too, that changes everything.”
The Venice property story also highlights timing opportunities in current markets. Konatar notes that spring 2026 is shaping up dramatically different from last year across Florida’s real estate landscape. “Last year at this time, it was completely dead,” he explains. “This year we’re crazy busy.”
The activity varies significantly by property type, but the psychological principles remain constant across segments and industries. Understanding what motivates buyers, what creates urgency, and how competition influences decision-making can transform outcomes.
Lessons for Other Industries
The bidding war demonstrates principles that apply across business contexts. When faced with a challenging sale, professionals often default to reducing price or improving the product. Sometimes the more effective approach is changing how the opportunity is perceived.
Creating scarcity, building social proof, and framing the decision in competitive terms can shift buyer psychology without changing the underlying product. This doesn’t mean misrepresenting facts. It means strategically managing information flow and timing to create the most favorable buying environment.
For professionals working through challenging sales in any industry, the lesson is clear: sometimes the product doesn’t need to change. The strategy does.
Vlado Konatar is the founder of Kona Realty Group, a Sarasota-based firm specializing in luxury new construction and high-end residential real estate. With over 11 years of experience in the Florida market, the company works closely with developers on projects throughout the Sarasota area. Learn more at konarealtygroup.com.