30107/40 Duncan Street

The Plan

Ranya had purchased the apartment from Ray White West End and call the apartment home. Looking for a change the property was prepared for sale, which included carpet replacement.

An auction campaign was chosen, as achieving the best price in the market, on the best terms was important to Ranya. Timing was not. A 30 day settlement was preferred, however settlement dates were flexible

The Process

An extensive marketing campaign was planned including professional photography, both realestate.com.au and domain, to ensure the property was marketed both locally & interstate. A targeted buyer campaign focused on buyers who had inspected apartments / units in West End in the last 90 days with budgets between $800,000 – $950,000 through Ray White West End, was also a key marketing strategy.

A four week auction campaign was planned. The property sold prior to auction for $830,000; being above the sellers expectations and more than the same apartment 8 floors up, weeks prior. The competition of the forthcoming auction was core in achieving the best price in the market. The buyer had to pay a premium, unconditionally, to secure the property prior to auction.

The Result

Steve, the buyer, first inspected a property with Ray White West End in June, one month earlier. Steve inspected 5 different properties with Ray White West End prior to making an offer on 30107 in Gardens Riverside. The competition of the auction and the market activity / social proof at open homes was key to Steve securing the property on terms & conditions acceptable to the Sellers