After a short 4-week hard-hitting auction campaign, this unique 7-acre property at 25 Hideaway Lane, Tinbeerwah, was ready to be sold at auction. Internet advertising, newspaper advertising, letter drops done, and investors called, all was ready for the property to go under the hammer.
On auction day, Greg Young, the auctioneer, was accompanied by the listing agent, Alan Broder, from Greg’s own company, Young Property Group. A modest gathering of buyers formed. Excitement and anticipation of a sale was palpable. After a short time, the bidding stalled and the property was passed in.
But all was not lost! Alan Broder had noticed a car arrived just moments after the auction finished. He approached the couple, explained that the property had been passed in and invited them to have a look around. They were appreciative of the opportunity, as they only read about the auction in the local newspaper whilst having a cup of coffee, and realised as they arrived that they may be too late!
They eagerly accepted Alan’s offer to wander around and have a look at the house. Minutes later, they approached him, asking At what price was it passed in? After a few moments of discussion, they put in a verbal offer at a higher price. The vendor was phoned in Melbourne and he accepted the offer 15 minutes after the auction.
Finance has been approved, building and pest inspection done, and now settlement will occur on the 14th December.
Auctions are always astounding. They truly indicate to the marketplace that the vendor is serious about selling. A strong marketing strategy generates excitement which brings enthusiastic buyers.
The auction sale’s strategy leads to a sale prior to auction, at auction or shortly after auction. The success rate is determined by several factors. In the case of 25 Hideaway Lane, local newspaper advertising paid off.
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