A few weeks ago, PROPERTYOLOGY was contacted directly by a sales agent we have had a few dealings with over the last 12 months. The agent early in the conversation advised that the vendors were seeking offers over $430,000 for this very well presented 4-bedroom, 3-bathroom house located in a highly sought after part of town.
Within 24 hours of taking the initial call, our Buyer’s Agent Euan Rose, had completed an independent analysis of the property. Euan was initially concerned as whilst on the surface, it is a well presented property, he did not believe based on recent sales evidence and his in depth knowledge of the local market, that it was good investing at over $405,000 – well below the vendors expectations.
Rather than simply dismissing the property as ‘not a good investment’ Euan followed up with another call to the sales agent. In this subsequent telephone conversation, it became apparent that whilst the vendors were indeed hopeful of obtaining offers over $430,000 as per their original price guide, the property had now been on the market a few weeks and they were beginning to realise that if they didn’t want to continue paying for a full marketing campaign and going through the pain of arranging open home inspections, they were going to need to meet the market.
Using this to his advantage, Euan was able to work closely with our astute, very well organised, first time investors Mark and Ina to tighten some of the usual terms and conditions of the offer. This, in conjunction with the sales agent reinforcing to their vendor how seamless a transaction with the PROPERTYOLOGY team would be, allowed Euan to successfully negotiate a purchase price of only $397,000!
Again, congratulations on making this step forward in pursuit of financial independence Mark and Ina.
We look forward to working closely with you over the coming years to build and further diversify your property portfolio.
Bryan Loughnan is Propertyology’s Senior Buyer’s Agent. Bryan has a Bachelor of Applied Science majoring in Property Economics. In 2016, Bryan was a finalist in the Excellence Awards for “Queensland (REIQ) Buyer’s Agent of the Year”.