A Melbourne agent has scored a 12 per cent premium for his vendor by cleverly gaining mainstream media coverage that ultimately pulled in the buyer.
One Agency licensee Wayne Hutchinson got an extra $50,000 for a five-bedroom house in Crib Point, 80 kilometres away from Melbourne, after scoring coverage in the Herald Sun.
Mr Hutchinson contacted the newspaper to alert it to his listing, which he realised was newsworthy because it hadn’t been on the market since 1905.
He also told the journalist that the paper would get a much better story if it got comments not from him but the vendor, as the vendor knew the interesting history of the property.
“I knew that if we could get that story out, that would paint a better picture than, ‘five bedrooms, great living area and a good block of land’, which is just beating the same drum as everyone else,” he said.
Mr Hutchinson said the half-page spread in the Herald Sun generated increased interest in the property, which eventually sold for $460,000.
The newspaper coverage also caught the eye of the eventual purchasers’ son, who brought it to his parents’ attention.
“It was only three weeks from start to finish before it was under offer and the stats from REA on day 20 were 11,864 views, 80 saved and shared, 22 enquiries, 379 downloaded the e-brochure, and five views from China.”
According to Mr Hutchinson, local buyers were offering $390,000-$410,000 while it was with another agent.
“I have known the owners for over 35 years and had advised them not to market it just locally as it would be compared too much on local prices, so they eventually handed me the authority to market and sell their home,” he said.
“My main focus and strategy was to have Melbourne money chasing up the local offers.”