Experience: you've got to know when to hold them...
Here at Barry Plant Gladstone Park we often talk about the difference that our years of experience in the local property market can make to our clients’ results, but one of this week’s results provided a timely reminder of just how big a difference this can be.
As many readers of our news stories would have seen, we conducted an ‘in-office auction’ during the week on a stunning two-storey home (pictured) in Attwood’s popular Alanbrae Estate. The property was actually scheduled to go to auction next Saturday, however after more than 40 separate buyer groups had inspected the home in the first two weeks of the campaign, an offer was made at $850,000 (a level that our vendors were prepared to sell at), so a new plan had to be devised.
Rather than simply selling at that figure, (as an inexperienced agent keen for a quick sale might have done), our advice was to openly declare that the property was on the market at that figure and give all interested parties the opportunity to buy the property.
As a result, three keen bidders attended the auction in our office on Tuesday night. After a spirited bidding duel back and forth, a lovely young couple secured the property for a remarkable $975,000…that’s $125,000 above the initial bid!
Not surprisingly, our vendors were ecstatic with the result and the purchasers were thrilled and relived to have purchased their new home in such an open and transparent way.
Of course, our scheduled auction in Padua Court, Gladstone Park was also successfully sold at auction to a very happy first home buyer, giving our vendors yet another 100% auction success rate for the week.
As the old song goes, “You’ve got to know when to hold them and know when to fold them”, and that kind of knowledge only comes with decades of experience in all kinds of market conditions. If you’re considering selling and would like to reap the benefits of our experience, feel free to give us a call on 03 9330 1088.
In the meantime, on behalf of everyone on the team, we would like to wish all the Mums out there, (and those who are Mums in everything but the title), all the best for Mother’s Day.