Case Study: Great Result Despite Economic Uncertainty

266/569 George St, Sydney – Sold For $685,000

Five Reasons to Embrace CBD living
1. Covenience!
Enjoy the new light rail service at your doorstop. Walk everywhere!

2. Luxury Facilities!
Relax after a hard days work in the sauna or do some laps in the indoor heated pool. Heated spa and fully equipped gym are also yours to use exclusively.

3. The perfect entry level investment!
With a secure and professional tenant.
Or a great first home buyer opportunity.

4. Re-sell and lease out with ease!
Demand is always strong for rental and sale properties in this location.

5. World Square is your backyard!
Easy access to amazing coffee, fashion, entertainment and food, just across the road.

This apartment is pretty stock standard for CBD apartments. It is in fairly good condition considering it’s age and had a solid long term tenant. Built by Meriton back in 2001 the unit has ‘good bones’ and has plenty of value potential if you were to do a little renovation over time.

What made this a challenging sale is the fact that it was tenanted during the campaign, which meant access was sometimes difficult. This amplified by the unstable economy and uncertain property market was the perfect storm for disaster. BUT we have a good strategy for dealing with situations like this. We come together as a team and communicate with our vendors. We launch engaging marketing messages and follow up expertly with any interested buyers.

We had a solid marketing campaign which included property photography, virtual tour, letter box drops to the building and digital marketing (sms, email, social media) + notification to our buyer database of over 15,000 buyers.

Through strong buyer follow up we identified a buyer who was showing keen interest and after just 3 weeks we had our first offer. Expert negotiation between the vendor and buyer increased the offer by $25,000.

$685,000 was the final price! The vendor was happy and despite the property climate posing challenges we sealed the deal after just 27 days on market.

We’d like to congratulate the new owner on a great new investment and home.

If you are unsure about selling in this market, give me a call and I’d be happy to give you my thoughts, obligation free. Joseph Fairchild – 0425 945 888 or joe@metrorealty.com.au

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