The interesting thing about selling real estate is you actually never really know exactly how it’s going to play out. With 93 Annandale Street, Keperra we will dissect the campaign and show you exactly what happened behind the scenes, information that was up until now only between the owner and us.
The sales campaign of 93 Annandale Street, Keperra was an interesting one. The property sat on the Ferny Grove train line, literally backing onto a major railway line with regular trains day and night. Naturally noise was going to be an issue with this sale, also the security and the configuration of the property with the entertaining areas all set at the front of south facing home. Regardless the home was beautiful, small but open plan with plenty of indoor/outdoor flow so presentation was absolutely not an issue with this home.
We appraised it higher than the other agents, but didn’t set unrealistic expectations. It was achievable but if it didn’t happen the owner had a fall back figure they were prepared to take.
Week in week out, the buyers came in droves!
- 22 buyer inspections
- Offer 1 $520,000
- 10 buyer inspections
- Offer 1 increased to $523,500
- Offer 2 $535,000
- Offer 3 $485,000
- 13 buyer inspections
- Offer 4 $527,000
- Offer 5 $505,000
- 16 buyer inspections
- Offer 6 subject to settlement of their home
- Offer 7 $534,000 cash with a 7 day building and pest inspection
What is so exciting about this campaign is that despite the fact that there were homes sitting on the market for months on end that were in much better positions and were substantially bigger in size, this home was intensely popular amongst buyers. 7 offers in 4 weeks!
There is no exact science behind valuing a property, the buyers will always ultimately decide if they “like it” or not based on their own gut feeling for the home.
A buyer who is emotionally attached is always going to pay more for the property, so invoking a sense of homeliness and warmth is by far the most important part of preparing your home for sale. Not sure how to do this? Give us a call. We are experts at helping home owners prepare their homes for the market.
So many factors are in play when selling your home; the property market itself, the buyer demographic, floor plan and feel of the home, is it renovated or not, the seller sentiment, location issues, building and pest issues and ultimately will buyers like it… Generally we use the same two sales strategies which are Auction or For Sale either without a list price or listed with an “offers over” price.
What we did differently in the marketing campaign for 93 Annandale Street, Keperra was that despite the fact that we received an overwhelming response from the market, we didn’t wrap it up on week one but instead exhausted the market of buyers and confidently represented the property and stood by its value that we had agreed upon up front.
The buyer in this particular situation had been offered help from their Mum to purchase a home, this allowed for a cash offer with only a 7 days building and pest condition.
There was a major issue with the roof but rather than negotiating the price down to get the buyer to wash over the matter, we agreed the seller would take responsibility to rectify the problem. The condition of the roof was unknown to the buyer when they entered into negotiations for the home; however the outcome was the fairest for everyone and made both buyer and seller feel much more comfortable moving forward to a smooth settlement.
Experience counts when you are relying on the sale of your biggest asset to set you up financially. The knowledge that comes from decades in the industry and the trials and tribulations along the way are going to be the exact glue that holds the deal together if any unforeseen issues arise.
We love helping people achieve their real estate goals and we are happy to chat anytime about your particular situation to see if we would be a good match.