Given the competitive market right now, Cunninghams Agent Matt Nicastri listed the property at 88a Bennett Street, Curl Curl knowing his owners needed confidence and clarity around the value of their home so they could bid on their next family home. Beginning with an ‘On the Quiet’ campaign, the team showed 15 groups from the Cunninghams buyer database through the property over the first week, which generated two offers of $2,100,000 and $2,150,000, and gave our Vendors confidence that they could start looking and acting on properties they were interested in.
On their search, our Vendors unfortunately just missed out on a property on Wyadra Avenue in North Manly through Cunninghams Agent Michelle Galletti & Matt, but were quickly presented with the next – a property on Robert Street in Freshwater. Listed ‘On the Quiet’ by Michelle, Matt introduced his owners to Michelle who took them through and they fell in love with the property. Negotiations began with Matt guiding his owners through the process, and following some competitive negotiations with Michelle and her other buyers, our Vendors were able to secure 1 Robert Street as their new home.
Now that our vendors had purchased, Matt was able to launch 88a Bennett Street to market through all portals, including Realestate.com. & Domain.com.au. They launched the property before Easter in order to beat the post-Easter rush of properties, and the strategy paid off. They generated so much interest in the home that they had to bring the Auction forward a week to leverage the amount of buyers eager to make offers. The eventual buyers saw the home on the Wednesday prior to the Auction, and commented to Matt that they may not be able to act at the Auction due to not having sold their unit on Carrington Parade in Curl Curl.
In a twist of real estate fate, Cunninghams Agent Michelle had recently sold an apartment in this same complex on Carrington Parade and had buyers leftover and keen to purchase in that exact block. These potential buyers agreed that if Michelle and Matt could show buyers through their unit and get a solid idea of value then they would be able to bid on the Bennett Street property. Michelle even managed to get a premium offer on the Carrington Parade apartment prior to the Bennett Street Auction which gave the couple even more confidence in bidding on the weekend.
Come Auction day for 88a Bennett Street, there were 7 registered bidders – 4 who were active bidders on the day – bidding started at the guide of $2,000,000. The bids rose in $50,000 increments until $2,350,000 and from there it was fought out in smaller increments until the hammer fell at a final sale price of $2,500,000 to the Carrington Parade vendors!
To round out this tale of three sales, the Carrington Street unit was sold on the Tuesday after the Bennett Street Auction, on the quiet for $1,620,000. Considering the owners bought this apartment in 2019 for $1,190,000 – that is impressive growth in that short space of time.
We have four happy parties, two who have sold and purchased in the same market through Cunninghams, something that many people are concerned about in the busy and competitive market that we are in today. As we deal with a large volume of sales and operate as one team across three strategic office locations, we are able to share information and enable these kinds of scenarios to occur – a huge value add for our clients.
Please get in touch if you have been wondering how you can sell and buy in this market, or if we can help you achieve any of your property goals in 2021.
“We found Matt to be genuine and so easy to deal with as he communicated clearly with us and we felt comfortable following his sound advice. The strategy Matt implemented and his judgement of this hectic market during were spot on and we couldn’t have asked anymore of him.
Having the strength of the rest of Cunninghams team behind Matt was also a huge advantage. We are extremely happy with the end result and would highly recommend Matt and the Cunninghams team to anyone thinking of selling.”