- 5,062 views online
- 29 email enquiries
- 77 save and shares online
- 5 registered bidders
- 96 people through inspections
- Sold above reserve
16/72 Sandford Street, St Lucia
We first sold this property via auction in 2014. On that day we had eight registered bidders and there were multiple bids back and Forth between two buyers. It was a thrilling auction and in the end, the property sold for $650,000.
Four years later the unit market has decreased by anywhere from 5% to 20% depending on the area and type of unit.
The owners spent close to $50,000 on renovations to the unit and held the property as an investment property. They then came to me four years later with the desire of selling the home.
Our client said they chose us because they felt we pushed them to their limit when buying and because they enjoyed the sales process with us. Our clients’ exact comment was that they had fun dealing with us. I promised them that they would have even more fun as sellers of the property.
During the campaign, we had 46 inspections, 5062 views online, and five registered bidders on the day of the auction.
Leading up to the auction we had four buyers in particular that seemed extremely interested. One registered to bid on behalf of their mother, another was a phone bidder from Toowoomba, another was a phone bidder in Sydney, and the other bidder was a local buyer who is a Crown Prosecutor.
We spoke with the Sydney buyer many times and he assured us that he would have a friend or family member on the ground bidding on his behalf. The week before the auction we decided to advise him to put my sales associate Trent down as his authority to bid. We did this as a backup just in case he couldn’t find anyone. As it turned out he didn’t have anybody to bid on his behalf and had we not organised this he wouldn’t have been able to be a part of the auction.
We were also very proactive with the crown prosecutor. He said that he is not an auction person and that he would never bid at an auction. Through having several ones on one meeting with him I managed to deal with each one of his objections and get him on board for the auction. In the final week of the auction campaign, he agreed that he would come along and bid. Three days before the auction he asked if he can put in a ‘subject to building and pest’ clause at the auction. I explained to him that the auction purchase is an unconditional purchase and that we had time to organise a building and pest inspection prior to the auction. He agreed and at 8 AM on the day before the auction we met a building and pest inspector and he gave our buyer the all clear.
As the auction was starting one aggressive buyer, who was registered to bid, began asking questions about the apartment’s condition in an attempt to try and phase other buyers and to try and put them off. We clarified everything for him and continued on with the auction.
Although we had five bidders, In the end, it was between the Sydney buyer on the telephone and our local crown prosecutor who bid against each other 21 times. The eventual sale price was $840,000. If we had not spoken to each of our buyers every day, this outcome would not have been possible. This was an amazing result for our sellers and as promised, we had a lot of fun.