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Fresh approach puts over $100,000 in seller’s pocket

Statistics

20/10 Lower River Terrace, South Brisbane

This stunning property had just been withdrawn from market with another agent after it had failed to get a bidder at the auction. It then went stale after weeks with the wrong pricing strategy. The sellers had spent tens of thousands of dollars on a large courier mail campaign that attracted the wrong buyers. After the failed auction, the previous agent priced the home at $1,500,000 and it received one offer of 1.1 million and no further offers. When I came in to give my presentation one of the sellers was so burnt by real estate agents that she couldn’t or wouldn’t look me in the eyes. She felt very let down by the previous agent.

I felt the property needed a fresh approach in terms of styling, photo’s, pricing strategy, and agent. Once appointed, at no cost to the seller, I repositioned their existing furniture, removed rugs, and brought in some flowers and fruit to add a bit of color. When the photo’s were taken the property looked even better than before. We also went with the pricing strategy of Low to Mid $1,000,000’s. The sellers were clear with me that $1,400,000 was their wish price and they had concerns about my pricing strategy as it had low $1’s in it. I explained to them that pricing the property above what they want had failed and that rather than coming down in price (which is negative) I wanted them to back me in as a skilled negotiator to get the price up from the buyer and I promised them I would never have to ask them to come down in price. They decided to put their trust in me and give my unique selling method a go.

A week in to the campaign a buyer comes through that falls in love with the property. It was only after coming back with her family for a second private inspection that they realize they had been through the property before. Astonishingly they said that they felt ignored by the previous agent and since he never called them, they didn’t want to deal with him. They felt insulted and decided to keep looking. The styling that I had done on the property had such an impact that they didn’t recognize the property. The buyers came in with an initial offer of $1,000,000 and after about twenty trips back to their place I got them up to $1,400,000. This took me a week. By the middle of the week, the buyers recognized my knock at the door and the wife would go and get a glass of water and some Greek biscuits ready for me at my usual position at the table. They were a very sweet couple and because I got every dollar out of them during the negotiation they appointed me to sell their house in Highgate Hill. It was a pleasure working for them.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

Google Rating
5.0