This property didn’t sell with another agency, so why did we increase the price range?

This property didn’t sell with another agency, so why did we increase the price range?

1/8 Myuna Street, Leopold

A vendor made a visit to our office to get some market advice. He had been unsuccessful in selling his property with another local agent, after three months of it being advertised online.  This vacant two-bedroom townhouse sat stale on the market with a price range of $335,000 – $365,000.

Why did this prime townhouse -with attractive price tag- sit on the market for three months in a booming Leopold market?

The owner (who lives outside of the area) explained that he was prepared to follow professional advice in order to present the property in its best light to achieve a good result. After confirming the owner was not in exclusive authority with any agencies, we inspected the property.
This townhouse was in a prime position, easy walking distance to Ash Road shopping strip, within a stone’s throw of the local park, close to Public Transport and surrounded by good quality homes.  It was empty, but spacious and neat. We noted that the property needed an overhaul – Fresh paint throughout, new tap wear, deck staining and a desperate gardening job!
Our feedback and advice were provided to the owner, along with quotes for all work. He agreed that by putting in a little money and a little time this would give the property the best chance to sell in a quick timeframe. We were engaged to sell the property and all of the maintenance work was managed by our office and completed within three weeks. With the addition of a professional furniture and styling package, we were ready to hit the market!
After discussions with our vendor, we were confident that based on the current Leopold market conditions, our recent sale results and taking into consideration the property’s improvements, that we could increase the price range to $345,000-$375,000.
At the first open for inspection we had 9 groups through and received multiple offers. The following week consisted of strong negotiations, with our vendor accepting $375,000 – the very top of our increased price range!
Although our vendor invested a little financially, he more than recouped this cost in the sale price.  This goes to show that preparing your property, spending money where required and selecting the right agent will give you the best possible chance for an outstanding result. Marketing is key!

 

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What’s our point of difference?

At Hayden Leopold, we take your property seriously. We respect that your property is your biggest asset – we will dedicate our time to you and work hard to achieve maximum results in a minimal timeframe.

 

Hayden Real Estate Leopold
1/49 Ash Road
5250 1666