The Auction Process & Marketing – Case Study

Two of our directors, Michael Walkden & Laurie Berlingeri, recently listed 34 Guilford Ave, Prospect for sale.

The property was an art deco 50’s era cited on 351sqm that had already been subdivided and currently rented out.

In short the home was a neat 2 bedrooms, sleep-out with an open plan kitchen / meals and living.

As the “value” had already been taken out of the property due to it having already been subdivided plus being currently rented the Auction process was utilised. What this created was a deadline on when the owner wanted the property sold in addition to the benefits of gaining access to the property for inspections whilst it is rented that aren’t typically applied to a For Sale/Private Treaty method.

The other key component to a successful result included marketing the property correctly in order to exposing it to as many potential buyers as possible, the Premier Listing offer by realestate.com.au was implemented amongst professional photography and not disclosing a price or price guide.

On the day the property was released, prior to the first inspection, we were engaged by an interstate buyer that we were able to show through.

Subsequently this interstate buyer made an initial offer which was the negotiated to a level the owner was comfortable to sell at.

The result – prior to auction, 34 Guilford Ave Prospect sold for $435k

As a reminder the key benefits of an auction include but aren’t limited to;

• The ability to sell before or at Auction
• Can place the property on the market with a price (post Auction if it is not sold)
• Creates a deadline on when you want the property sold
• No price or price guides should be displayed/disclosed to ensure you give yourself the best opportunity to achieve the best result.

Prospect property sells via Auction Process

For further information contact the team at Ray White West Torrens on 08 7070 0595