Agent reveals how he fetched $100K above asking price

An Adelaide agency has used a traditional marketing method to bring in one of city’s best auction results over the weekend.

Cocks Auld Real Estate director David Cocks said that his agency placed ads in the local newspaper and letterboxes as part of its marketing campaign to sell a land holding in Kingswood for $1.38 million.

“We had signboard brochures, and then we also hit the whole Kingswood with ‘just listed’ – the old letterbox drop,” Mr Cocks told REB.

“We did a three-week campaign in The Advertiser,” he said. “Because the land was so big, we needed to do a decent sized ad. So we used three module ads.”

The campaign successfully pulled in approximately 60 potential buyers to the auction, eight registered bidders and brought in a 10 per cent premium on Mr Cocks’ price guide of $1.25 million.

Mr Cocks recognised the importance of land value, highlighting the 1,672-square-metre block rather than the property’s eight-room villa that has served the owners for 50 years.

“I emphasised the fact that it was land value. I knew that no one was going to buy that house and spend money to do it up,” Mr Cocks said.

“The whole emphasis was on the land, so in our marketing we just had a site plan showing the block, we didn't really have many photographs of the house.”

The land holding was part of a deceased estate and one of the executors was a good client of Mr Cocks, who referred him for the listing.

Mr Cocks said that the buyer is a developer who is planning on developing the site.

[Related: Print sells properties ‘quicker and for more money’]

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