Here’s a success story that demonstrates the importance of experience in the marketplace. Experience as a leading Sunshine Coast Real Estate Agent.
This is an amazing story. The type that gets us up in the morning, eager to help our clients succeed. What’s important to remember is that this happened in 2021, BEFORE the current housing boom. In other words, Peregian real estate was selling at an expected, predictable price - unless you knew how to play the market, that is!
Peter and Tania asked Steele Realty for a property appraisal. They were planning to retire in six months and wanted to downsize and travel. Just like a lot of Aussies their age.
They wanted to buy a special buy a block of land, sell their home, pay back the bank and build their new home for retirement with the balance. Their dream was to have enough left over to put towards a 4WD and a caravan for their trip around Australia.
The bank valuation on their existing home was $900,000. We appraised it at $940,000 - $960,000. Peter and Tania were surprised - and maybe even a little sceptical!
We discussed all the methods of sale including Openn Negotiation - an online auction format where buyers download a phone app and place bids on the property. At the time we also discussed how many properties were currently selling off market but I suggested to them they were potentially under-selling their property by not exposing it to the open marketplace.
They liked the idea of the Openn Negotiation online auction process where buyers can fight it out amongst each other online. We launched the property on the market with no price and a reserve of $1,075,000 which the owners thought we would never achieve.
The instant the property hit the market the phones and emails did not stop - with people wanting to view the property and know how this online auction works.
Within five days on the market we had twelve registered bidders on the property and we had already hit the reserve price of $1,075,000 which blew the owners away. Three days after hitting the reserve price we went to the final bidding stage where four of the twelve bidders fought it out online to buy the property with 36 bids over the reserve price! The property sold for $1,165,000 and both owners were crying with joy at the result. If they had sold this property OFF MARKET more than likely they would have missed out on $215,000.
What did this mean for Peter and Tania?
With the extra $215,000 they purchased a brand new $70,000 caravan, and a $100,000 land cruiser! The $45,000 balance went a long way to cover the costs of their lap of Australia over twelve to eighteen months.
The new parcel of land has been fully paid off, and while they are cruising around Australia with their dog and cat they are receiving photo updates from their home builders!
Peter and Tania were so grateful I talked them out of selling OFF MARKET as they thought that was the best option, as many houses in the area were selling this way.
This story perfectly sums up our mantra - ‘With Steele Realty you can always expect a great deal more’ - We can’t guarantee you’ll get $215,000 over the expected price - there are too many variables beyond our control, but what we can guarantee is that we will give more time to creating a selling strategy, using our market knowledge and experience, to get the best price/outcome possible. And sometimes that’s hundreds of thousands more than you expect.
Come and talk to us today, Steele Realty Peregian Beach. Where you can always expect a great deal more.