Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

‘Fierce’ auction sees surprise bidder snap up $4.25m home

14 April 2016 Francesca Krakue

An agent has cast his marketing net wide, pulling in a surprise bidder on auction day who purchased the property for $500,000 above the asking price.

Glenn Curran of Curran Property sold a four-bedroom house in Lindfield for $4.25 million by running a broad, diverse and engaging marketing campaign that drew in surprise bidders on auction day.

“We’d expected potentially around about six bidders there but then there were an additional six people that came on the day who hadn’t declared any previous interest or intention to purchase the property, registered to bid and started bidding,” Mr Curran told REB.

Mr Curran explained that by “taking the property to the next level” with his marketing, he was able to generate a significant amount of interest in the house throughout the four-week campaign up until the hammer dropped.

Advertisement
Advertisement

“It’s very easy just to take photographs and put a property up online but it’s how the property is photographed; it’s the styling; it’s the presentation; it’s the copy,” he said.

“Everything we did for that was well thought out and that attracted a huge amount of interest.”

More than 130 individual groups viewed the property during the four-week campaign.

Mr Curran said he takes a “very broad” approach to marketing, adding that there is “no silver bullet” used to sell property, which is why he employs a combination of print, online and social media strategies.

Mr Curran explained that Curran Property provides information in different languages to include people of various nationalities and ethnic backgrounds.

He also sent out an alert to his agency’s database on the day prior to the auction to notify them that it would be held the next day. This small action helped round up additional potential buyers who had not previously viewed the property.

“There was a mixture of people that had responded and also people that had only just seen it in the last week of the campaign and hadn’t had a chance to come through, and just thought that they would attend. Once they got there they loved the property and registered to bid,” he said.

The Property Expert’s Robert Klaric auctioned the property on the day.

“Seven out of the 12 bidders actually bid for the property,” Mr Curran said. “Competition was quite fierce, with a total of 43 bids.”

Click here to watch how the auction unfolded.

[Related: Agent uses simple tactic to attract more buyers]

‘Fierce’ auction sees surprise bidder snap up $4.25m home
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Are you considering offering a flat fee model in 2019?

No
Yes
Perhaps, but it would include a performance bonus on making the sale.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.