- Buyers Inspected: 139
- Contracts Issued: 25
- Days on Market: 14
- Guide: $900,000
- Sold at auction: $1,115,000
- Buyers remaining above: 9
This property had been a long-term investment for Louise and John since 2008. They purchased the apartment for $495,000, with the intention of leasing it out, and successfully kept the same tenant for the last 8 years. They recently made the decision to sell the property in order to help pay down their home mortgage.
Finding the right time to sell and optimise their return was important for Louise and John, as is for any vendor. It was for this reason that we made a strategic decision to launch the property campaign in January. We advised on this timing due to the low levels of stock in January, renewed buyer energy and demand, the introduction of the first home buyer scheme and lower interest rates. We encouraged Louise and John to go to market before stock levels increased and competition picked up for similar properties in February.
It quickly became clear that this decision was a success, as we were inundated with high levels of interest, not only by local buyers but also from the Eastern Suburbs, Inner City and Lower North Shore. It also clearly indicated that our off-market strategy to attract buyers, including social re-targeting, had been highly effective.
The first open house attracted 69 buyers through the door, many of whom came from our active and pre-qualified database of buyers in Freshwater.
As an agent one of the most important skills needed is to be able to read the play ahead and act appropriately. In other words, to strike while the iron is hot. Therefore we made the decision to move the auction forward a week and keep our buyers engaged and focused.
This was another successful decision, which resulted in competition from eight buyers, half of which lived locally and the other half came from the Eastern Suburbs and North shore. Many of our buyers were first home buyers and investors.
In the end the apartment was sold to Maureen – an investor who we had contacted during our initial off-market strategy, prior to launch. As a result of our off-market and full launch strategy, we were able to maintain Maureen’s interest throughout the campaign; from the first contact to the final sale.
This case study is a prime example of the strength of our database marketing.
By selling more property than any other agency on the beaches, we are consistently able to reach more buyers and build more trusting buyer relationships.
Due to the large levels of interest in this property, we have many buyers who are still keen to make a purchase soon. So, if you are thinking of selling in Freshwater please contact Michelle and register for our Freshwater on the Quiet mailing list.