When you’re selling a property that’s perfect for throwing a party, there’s only one way to really show it off.
The recent sale of 10/33 East Crescent Street McMahons Point tested an agent’s theory that an entertaining property needed entertainment to reveal its best features.
So Adrian Bridges of Atlas Lower North Shore threw an exclusive launch party to kick off the campaign. With drinks, food from local vendors, and the chance to take in the view as the sun set over Sydney harbour for the evening, it attracted roughly 75 guests made up of key people from the local area, the agency’s top buyers and relocation agents, and other Atlas agents.
Lo and behold, the property, which went up with an initial guide of $8,750,000, sold to an attendee of the event seven days later, prior to auction, in “the early $10 million range”, according to Mr Bridges. It’s an increase he credits to having shown off the home’s best features that night.
“Boasting direct harbour access, it’s almost equal outside to inside with these huge entertaining terraces. And I thought, a buyer just coming in for 15 or 20 minutes during an open home or an appointment is just not sufficient to show what the apartment’s capable of,” Mr Bridges explained of his thinking behind the somewhat unorthodox marketing idea.
With the seller having put $100,000 into a renovation facilitated by Mr Bridges’ team, the agency took on the duty of throwing the function to set it off.
And while Mr Bridges says that kind of outlay isn’t right for many properties, in certain situations, an evening soiree can be the perfect marketing strategy.
“I think this works for lifestyle properties, certainly homes that have great entertainment capabilities, properties with views – places that come alive in the evening. I think it allows someone to connect with a home a lot better,” Mr Bridges said.
“Buying a property and inspecting a property has got to be a sensory experience,” Mr Bridges added. Even open homes should set a scene, albeit in a condensed time frame, with candles and music for example. A party just “dials up” this strategy.
While he’d tested out the plan in pre-COVID days, he’s preparing to make it a more regular offering going forward, when the situation calls for it. Already he has two more invite-only events slated to show off properties hitting the market in early 2021.
“One for a luxury penthouse apartment and another waterfront home on the Lower North Shore,” Mr Bridges revealed.
From his perspective, the benefits extend far beyond the sale price.
“It’s just a great way to meet people,” Mr Bridges said. “When we get the opportunity to sell properties like this, I think as an agent, we want to make more of an investment, as opposed to just doing the same old thing every time.”
ABOUT THE AUTHOR
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.