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A Queensland-based agent has sold a property in need of a “massive overhaul” for $665,000 by taking an upfront, targeted and honest approach to marketing.
Real estate agent Dayne Evans of Harcourts Coorparoo admits he never actually visited the three-bedroom Woolloongabba house – which sold at auction over the weekend – until he had listed it.
“I had told [the vendor], from the street, based on sales, somewhere in the mid-sixes," Mr Evans said, "but when I went through it, I said ‘I think I overquoted a bit here because the house is in really bad condition'."
However, despite the poor condition of the house, he was able to sell it for the price he had originally estimated.
Mr Evans said he initially approached the owner of the adjoining property – who ultimately bought the house – before the marketing campaign began.
“The minute I had listed it and before it came on the market, I contacted him to let him know that the property was coming on the market, and he said straight away that he was fairly interested,” Mr Evans said.
Knowing that the property “probably would have sold for more if it was a vacant block of land”, Mr Evans also targeted renovators in his marketing.
He gave potential buyers “the heads-up that it wasn’t pretty as is” and that “they’d have to go in there with an imagination”.
With the added difficulty of the property being in a demolition-controlled area, Mr Evans was also upfront with potential bidders about what they could do with the house.
Although he had a connection with the vendor through his agency, Mr Evans’ pitch for the marketing campaign helped him win the listing.
He proposed that they post a premier listing on realestate.com.au, explaining that Woolloongabba is “a smallish suburb in terms of search criteria”.
“Because it was a bigger ad, if people were looking in surrounding suburbs, it would come up in their search range as well before some of the others. It was expensive – $2,000 just for the ad.”
Mr Evans was thus able to sell the property for more than expected, attracting six registered bidders and almost 50 on the auction day.
“I had a lot of feedback starting from $400,000,” he said, “so based on feedback and other interested parties, anything over $600,000 is a really good result.”
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