How Melbourne Vendors Are Achieving Above Market Prices.

Would you have done this?

Spring is setting records in terms of listings, meaning competition is high for vendors looking to achieve big prices on their properties.

If you think this means auctioning everything, here were 3 instances where that would’ve cost vendors tens of thousands.

6/43 Armadale Street, Armadale

Strategy: Private Sale.

Reason: Price point and location attractive to first homebuyers who cannot be unconditional at auction thus compromising the ability to get competition during bidding.

Outcome: Sold in less time for a higher price than an identical apartment on the same block that was taken to auction.

8/64 Westbury Street, St Kilda East

Strategy: Pre-Auction Negotiation.

Reason: Identified lack of competition as auction drew closer, rather than trying to push the buyer on the day. Rather than risking a pass in, discount and sacrificing leverage, we negotiated early.

Outcome: Offer came in above reserve whilst others remain unsold chasing unrealistic figures.

76 Michael Street, Fitzroy North

Strategy: Using zoning to the vendor’s advantage.

Reason: Commercial properties are currently seeing sluggish growth due to leasing difficulty. We marketed this property as residential to attract buyers who wanted to live and work in one place.

Outcome: Sold based on potential and lifestyle instead of rental yield. Faster sale at a higher price than what was possible if advertised commercially.

This is why Vendors trust me to guide them through the process. We make sure that they are pursuing the highest yielding option, not just the quickest.

Could this help you or your clients in the coming months? Let’s chat.