An agent has proven that quality properties will go regardless of market conditions, as she managed to sell $16 million worth of dwellings in a week.
In a conversation with Real Estate Business, Belle Property Balmain principal Lynsey Kemp explained how she and fellow principal Monique Dower managed to sell a property for $320,000 over reserve.
“It was quite a competitive auction. We had six registered bidders, they were all local families interestingly,” Ms Kemp stated.
The real estate agent highlighted how the campaign could not have begun at a worst time.
“It was a campaign that hit literally as COVID hit. So, every single buyer was taken through by appointment.
“There were days when I was there two to three hours taking buyers through, 15 minutes apart,” Ms Kemp noted.
Ms Kemp said she was able to use the market conditions to her favour with fewer sellers creating stronger demand for the vendor.
“I think it was just a case it came to market when there was nothing out there competing with it as well as a number of families looking to upgrade which led to a fantastic result,” Ms Kemp said.
In a weird way, COVID-19 acted as a tailwind for the property, as it allowed for one-on-one time between buyer and agent.
“The one good thing with everyone working from home. Saturday’s became a bit less important. While Saturday was still busy, with people working from home, we were at the vendor’s house every day,” Ms Kemp said.
“For us, it is all about finding that match. It is about a vendor that wants to sell and a buyer that wants to buy the property and work with them to get over the line.
“Having that one-on-one time, we had a lot of discussions when they were inspecting the property.”
However, she conceded that even with all her hard work, a little bit of luck and timing helped achieve the desired outcome for the property.
Ms Kemp said: “At the end of the campaign after 15-minute-apart appointments, being at the place every day, by a miracle we were able to do an onsite auction.
“It was a beautiful day and a beautiful auction, and otherwise we would’ve had to go online. With that property, it was absolutely the best way to be able to do it onsite.
“It was pure luck. We ran a longer campaign because of COVID as we thought we might need a little more time.”
A statement by Belle Property confirmed what the following properties sold for:
- 3 Terry Street, Balmain (post-auction) - $2,331,000.00
- 45 Short Street, Birchgrove (off-market) - $2,710,000.00
- 42 Campbell Street, Balmain (prior to auction) - $2,300,000.00
- 22 Dock Road, Birchgrove (at auction) - $3,820,000.00 (six registrations, sold for $320k over reserve)
- 165 Rowntree Street, Birchgrove (post-auction) - $5,000,000.00