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West End Unit Sold Above Reserve In Over Supplied Market

Statistics

  • Over 2,639 views online
  • 11 enquiries from online marketing
  • 31 Times Saved online
  • Negotiated $30,000 in increased bids
  • Sold at Auction
  • Sold Above Reserve

11109/30 Duncan Street, West End

We decided to take this property to auction due to a large amount of competition. At the time of marketing, we were competing with 178 two bedroom units in the immediate area. We wanted a point of difference and to create urgency. We also felt that our unit had X factor and created a campaign that highlighted its many special features.

Our owner was skeptical as to whether an auction would work for his unit however he trusted us and signed up for a 4-week campaign. We had sold our last couple of units by auction and all were sold at or above the reserve and all sold on auction day. This property was a great candidate for an auction campaign as it had a lot of big positives and benefits that stood it apart from every other unit on the market. It was a top floor, corner unit with amazing river and city views. The ‘Gardens’ Complex is one of the best in West End boasting 2 pools, spacious gardens, BBQ Areas, Gym and Sauna.

This sale was extremely pleasing as we sold the property at auction, above the reserve. Every week we were competing with 3 or 4 other units that open at the same time either across the road or in the same building. They are all advertised with a price and buyers continuously see the price falling. They, therefore, are in no hurry and have no urgency. For this campaign, we had three buyers that looked like they were going to bid but in the end, there was one bidder. One is all we need. We managed to move the buyer up to $30,000 from his first bid and sold the property to him on auction day.

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