Aussies love Auctions. It’s pretty much a Saturday sport for some. And why wouldn’t we love Auctions? It’s full of action, drama and those nerve wrecking last minute wins. As Buyers Agents, we regularly bid at Auctions throughout Sydney on our clients’ behalf. This gives us a unique insight into the ‘games’ that are commonly […]
Look for the ‘EXIT’ when you buy!
When people are looking to buy properties, they are usually focused on the ‘entry strategy’. This is especially the case for owner occupiers and first time home buyers. However, odd as it may sound, we like to remind our clients that they should also think about the ‘exit strategy’ BEFORE they make the purchase. By […]
Quote them low and watch them go!
40 Forsyth Street in Glebe was sold at Auction this past Saturday in front of a packed crowd of about 150 people. I first inspected this property several weeks ago on behalf of my clients when it was advertised as “over $500,000”. Within minutes, it was obvious to me that this property was worth much […]
Underquoting vs. stiff competition
Many selling agents defend underquoting by saying that the market dictated the price and competition drove it up beyond expectations. In some instances, and within limits, this is certainly true. In the case of the below property situated in a blue ribbon part of Roseville, our agents felt that this property was heavily underquoted. The […]
Auction Action – 27 March 2010
This 4 bedroom house in Turramurra was sold at Auction for 1.622 million – way over the price guide quoted during the marketing campaign of “over 1.25 million”. This Epping house consisting of 2 bedrooms and 1 bathroom on just over 300 m2 of land was sold at Auction for $726,000 and saw 20 registered […]
Auction Action – 27 February 2010
A packed onsite Auction today saw a 3 bedroom / 1 bathroom house in run down condition sell for 1.010 million. Interestingly enough, the winner of the Auction made a mistake during the Auction process and was actually willing to pay 1.1 million – until the Auctioneer corrected the mis-bid. The Auction clerance rate in […]
2010 Auctions off to a strong start
Today is the first full day of Auction for 2010. Our agents were present at 4 of the Auctions (see below) today in Sydney and their feedback is that the market is HOT HOT HOT. All 4 properties were sold under the hammer today for very strong prices. The market has not only picked up where it […]
Record breaking Auctions
Two interesting Auctions took place on Saturday, 14 November 2009. Both Auctions saw record number of registered bidders for the respective agencies. 140 River Avenue, West Chatswood (2br/1ba/2ga) This brick-veneer and run-down deceased estate saw a huge crowd turn-out at Auction and 24 registered bidders. The initial price quoted by the selling agent was around $650,000. […]
Unrealistic seller + incompetent agent = no sale
At an Auction today, a bid was made by the sole bidder at 1.6 million. This was swiftly followed by a Vendor Bid at 1.9 million. Needless to say, the property did not sell. This Auction is a classic example of when the seller and buyers are not on the same page. The seller is […]
Auction Action – 11 July 2009
Two Auctions in Chatswood today saw huge crowd turnout and strong sale prices. 16 Johnson Street in Chatswood (4br/1ba/1ga) was sold at Auction today. During the marketing campaign, the quoted price guide was “over 1.2 million”. With nearly 150 people watching (see photo) and 14 registered bidders, the property was sold under the hammer for 1.426 million. […]