Case Study: A Race Against Covid:19 Lockdowns

Just sold: 1315/28 Harbour St Sydney

 

The vendor came to us frustrated and running out of time. After trying to sell her property with two other agents with no success, we were excited with taking on the challenge of achieving the high price that the vendor was after. This is what we do!

As soon as we had the ‘go ahead’ we sprung into action. How can we make the property appear fresh and appealing online when it’s already been advertised by two different agents, with the same photos and a tired looking ad? Fresh photos and a bit of a spring clean was our first move, we paid particular attention to capturing different angles of the property (remember we wanted the ad to look totally different that the ones before).

Case Study Summary:
Online Views: 395
Enquiries: 41
Open Homes: 9
Groups Inspected: 24
Offers: 4
Days On Market: 27
Sold: $960,000

Next – A property video, this is the best way to engage your audience and is especially useful when running social media ads – Posts with videos see huge increases in clicks and views so this was a secret weapon for this campaign. It also allows buyers to get a better feel for the property.

We will admit… the vendors price expectations were a little high but we’re in the business of getting record prices, so we weren’t about to turn down the challenge. We sent the ad live as a premiere listing on real estate and we had amazing engagement and enquiries were pouring in!

After the first few weeks of open homes we had received 3 offers:
1st Offer – $860,000
2nd Offer – $920,000
3rd Offer – $950,000

These offers weren’t close enough to our target of $1,000,000. The vendor declined and we pushed on with the campaign. This was all happening as Lockdowns due to Covid-19 were starting to be enforced, we were running out of time to hold open homes for the property.

We had good numbers at each open home and were following up extensively with each and every buyer who came through the door. We came across one buyer, whom after inspecting the property was getting his finance in order to make an offer. Not wanting to waste anyone’s time we explained the previous offers and the owners reluctance to accept anything below $980,000.

After a lot of back and fourth and 2 more private open homes we were able to get an offer of $960,00, the buyer stating that this would be their highest and final offer. Now our mission was to convince the vendor that this was indeed the best offer they were going to get and could in fact be their last chance to sell given the uncertainties looming.

Keep in mind that this offer was extremely good considering other comparable sales. We were really proud of ourselves for getting this offer and this we expressed to the vendor. Whom, after some deliberation agreed to sell at $960,000! Success!

This is my job as an agent. Yes, it’s to list and sell and market properties. But more often than not the biggest challenge during a sale is finding this middle ground where both purchaser and vendor can walk away happy. This is not ALWAYS possible. It takes a lot of knowledge and practice to get it right.

After 100’s of transactions throughout my career It still brings me the most satisfaction to see both vendor and buyer come to an agreement with my aid. I’m always learning something new from each deal and this case was no exception.

Congratulations to the lucky new owner and successful vendor!

Author: Joseph Fairchild

No.1 Sales Agent in Sydney 2000

Joseph Fairchild

Mobile: 0425 945 888 Email: joe@metrorealty.com.au

 

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