An agent has used his initiative and sales skills to persuade six vendors to bundle their homes together into one mega-sale.
Adam Hughes from Harcourts Your Place Real Estate is conducting a private treaty campaign for what is now a 3,700 square metre site in Werrington, western Sydney.
Mr Hughes told REB that the six homes would average about $600,000 if sold individually, but that he hoped to attract between $4.5 million and $5 million for the entire package.
He said he was able to put the deal together in one week after door-knocking the neighbours to suggest the idea.
“We had a meeting with them one night in the office just to explain what sort of service we can provide for them and how we market the properties, and then after that they all wanted to sign the agreement and give it a go,” he said.
Mr Hughes said working with six vendors is a big challenge, because they all have different needs.
“To make it easier we appointed a delegate, so I'm dealing with one person rather than trying to deal with six vendors,” he said.
“But everyone's got my mobile so if they are unsure about anything they can either speak to myself, or their conveyancer or their solicitor.”
Mr Hughes said he has two developers interested in the site, but that it might possibly attract another type of buyer.
“It could be an investor that might sit on it because there are six homes and there is a good return just on renting them out,” he said.
There might also be the chance of a bigger pay day sometime in the future, according to Mr Hughes.
The land, which is near Werrington Station, has R3 zoning, which allows for townhouses. However, it’s plausible that this might one day change to R4, which allows for units, as the land across the road has that type of zoning, he said.
“There are a lot of residential real estate agents that aren't aware of all the zonings but we work alongside of some developers, which have trained us in that area,” he said.
[Related: Harcourts opens 53 new offices]