One Sydney-based real estate agency is reaping the benefits of an aggressive approach to lockdown selling.
Richard Matthews Real Estate has acknowledged it is operating within some very strict COVID-19 parameters, but has still managed to sell nearly $56 million worth of property since the Sydney lockdown began.
According to the business, $55,890,000 has been transacted since 26 June 2021, thanks to both online auctions and the striking of deals pre-auction.
One of those properties was a three-bedroom home that sold in less than a week — and for $100,000 more than a neighbouring property did just prior to the lockdown beginning.
According to director and auctioneer Richard Baini, there’s still huge buyer demand, with the business now boasting a 100 per cent Sunday auction clearance rate.
“These people want to do their one-on-one and virtual inspections and make very quick decisions to secure a home,” he said.
“There is no doubt a real lack of choice is a contributing factor, as is our seven days a week working policy during lockdown to meet buyer demands.”
For him, the results show that the property markets that Richard Matthews Real Estate operate in aren’t slowing down, with buyers very aware that this is the case.
“It proves that the inner west and south west property markets are still very strong and now is an ideal time to sell.”
For Richard Matthews’ sales executive and agent, Joe El-Hourani, the latest lockdown has had an unexpected upside: “The lockdown has actually shown us who the real and genuine buyers are.”
It was him who managed to sell two neighbouring properties within six weeks in Greenacre, where “the second one sold for $100,000 more in just six days on market”.
To take further advantage of the current market conditions, Richard Matthews Real Estate has just revealed it will be opening a second inner west office in September — further details of which are yet to be announced.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.