Having the experience of selling properties in the same building, Stefan knows exactly the type of demographics to target. “In my prior experience, the typical demographic for a one bedroom apartment in this particular building is usually a first time buyer/young couple.” says Stefan. True enough, this modern Northcote apartment is perfect for first time buyers/couples who do not want to miss the action. Within a 6 km radius of the property are trams, cafes, gyms, parks and of course, High Street and Welcome to Thornbury.
As far as the analytics goes, the online presence of the property garnered 12,000 views on Facebook alone. It was also a hot property on REA and Domain with 5,000 combined views. The figures are impressive and you’d think that the agent already got this in the bag. However, the demographics targeted are not really specific about the total space they require, more so of the location. The property was on the market for roughly 60-70 days which is quite longer than Stefan’s previous sales experience.
To top it all off, the seller also wanted to maximise the rental return. Hence, the property was still occupied by a tenant when they shot all the photos for advertising purposes. “We took an unconventional approach in order to market the property because we had the tenant in there at that time. We really wanted to maximise the rental return so we marketed the property with the tenant inside. Luckily, they had really nice furniture and that really worked.” Stefan mentioned.
After entertaining 25 inspection attendees, they were able to receive 2 offers. The negotiation period was a tough one that lasted for a week. After that, both the purchaser and the vendor were able to settle with a price they were both mutually happy with via the private sale method.
The purchaser who ended up buying the property was looking for exactly what the property had to offer. After several days of finding the perfect match for the property, it has finally found its perfect fit.