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Unrealistic Expectations, Challenge Accepted!

Unrealistic Expectations, Challenge Accepted!
May 21, 2016 Bridget


Our Buyers’ Agent Euan Rose assisted first time PROPERTYOLOGY client Matthew secure this very well presented home in a major Australian capital city for only $375,000.  More than $15,000 below the vendors expectation.

This property, was bought to Euan’s attention not long after it hit the market.  Initially, Euan was concerned as the real estate listing included a price guide of “Offers over $380,000”.  Euan, well aware that a price guide is not necessarily a fair reflection of a property’s actually worth, and with his intimate knowledge of this particular market, quickly knew that this price was unrealistic.

At this point, Euan could quite easily have moved on to another property, thinking to himself that the vendors were being unrealistic and he was wasting his time.  Instead, he picked up the phone and had a very frank discussion with the sales agent – someone he has had a few dealings with in the past.

In a relatively short telephone discussion, Euan spoke in detail to the agent about the previous dealings they have had, how smooth each process had been, how he, as a professional, was not doing this for practice and did not want to waste his time.  He also spoke at length about several other recent sales in the market, how they were either slightly superior to slightly inferior to the subject property and overall, why he didn’t feel that the price guide was a fair reflection of where the property sat in the current market.

The agent confirmed that whilst the vendors were certainly hoping to achieve a sale price in excess of $380,000 and potentially much closer to $400,000, they were very motivated and interested in a smooth and easy sale process.

Euan reiterated to the agent how smooth the previous transactions had been and after quite a bit of back and forth, was able to secure this property for Matthew for only $375,000.  Well below the vendors expectations and even below our market appraisal.

After a short but smooth settlement process, Matthew has worked closely with a very experienced local property manager and only days after settlement, has a tenant lined up to move in.

Congratulations again Matthew, it was a pleasure being able to assist you in securing this great investment property.


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