VENDOR AGENCY SALE OF THE MONTH

Poor performing asset in poor location required liquidating for capital to be recycled into a higher growth asset. Selected the best agent to sell; managed and pushed the agent to get the best possible price; negotiated the best agency commission and terms of sale, managed the entire sales process on behalf of the vendor. Vendor was delighted with the stress free result.

Highlights*

• Achieved great sale result in very weak and difficult market
• Pushed agent very hard to perform and provided data and rationale to defend the asking price
• Maximised return on poor asset chosen by vendor
• Made otherwise stressful process stress free

How the deal happened:

We assisted our clients to sell a poorly performing interstate investment property they purchased based on very poor advice from another company. We interviewed and screened three of the highest performing agents in the location. We recommended one who was a stand out due to the recent sale prices achieved on similar properties in this location, their experience, their communication skills and a range of other factors. As the clients had a limited marketing budget, we collaborated with the agent to determine the most cost effective marketing compaign to reach the target market. We ensured the existing tenant was placed on a month by month lease at the conclusion of their existing lease to ensure the property could be purchased by owner occupiers who were the predominant buyer type in the location. Despite Covid-19 impacting the market shortly after listing, we successfully sold the property at the assessed pre Covid-19 market value which the vendors were very happy with. We pushed the agent and provided the rationale for them to defend the asking price. The purchaser proceeded at that price maximising the return for the client.

Property highlights:

• Well presented 3 bedroom, 2 bathroom duplex, across one level is ideal for a first home owner or down-sizer
• Master bedroom with en-suite
• All bedrooms with built-ins and ceiling fans
• Kitchen, dining and living area fully air-conditioned, modern stainless steel appliances, ample bench space
• Private, under-cover, outdoor entertainment area
• Great sized yard
• Close proximity to schools, shops, public transport and the Bruce Highway
• Currently renting for $325 per week