Online transactions are offering up “a masterclass in selling”, according to a Victorian agent.
Rob Westwood is an agent with Werribee’s First National Westwood, who has said his listing of 69 Kellerman Drive, Point Cook, in early August “couldn’t have been worse timing”.
For five weeks, the property just sat there collecting inquiries, Mr Westwood said, with Victoria’s stage four lockdown preventing any in-person inspections.
Luckily for Mr Westwood, he said he was able to tap into the recently launched Openn Offers to get the sales campaign off the ground.
Stating that the platform’s launch “came at a really great time for us”, Mr Westwood noted that an overseas-based vendor made this property sale an even more tricky one to navigate through lockdown conditions.
Initially listed at a price range between $595,000 and $640,000, the agent eventually found a buyer for $690,000.
Acknowledging the property’s placement in a predominantly first-home buyer market, Mr Westwood said competition for affordable homes can be high, and this property was no exception.
All-in-all, the property netted 13 offers, with two of them even higher than the successful offer – all of which were sight unseen.
“The owner was motivated to sell and the successful offer was unconditional, so that’s what got the slightly lower price over the line,” he explained.
From his perspective, being able to select a preferred buyer was a benefit of the Offers process.
“In this case it allowed for a quick sale for the vendor and an easy purchase for the buyer.”
He went so far as to call it “a masterclass in selling in the time of COVID-19”.
According to Mr Westwood, transacting online has helped the agency collate all of their inquiries, so none get missed, and more easily keep track of offers.
“The big benefit is that it gives us a platform that shows all of the interested parties where their competition is at, and I think that helps develop belief in the buyer’s head that how they are bidding on the property is fair and honest.”