You’re selling at the top end?
Unless you’re divorcing, downsizing or dead, you’re not likely to go to auction.
OK, you heard about 67 Hope Street blowing up over the weekend (3 beds, no parking, $5,110,000 — $2m over the quote) but that just gets its nose through the top end door and that pocket of SY has been hot for yonks (don’t say we didn’t tell you).
So, if not auctions, what?
The phone. The whispers. The loop.
You’re not in the loop? The race will be over before you get your runners on.
Mostly it starts with a quiet Expressions Of Interest campaign.
Why EOI? Because no-one except the agents know what’s really going on and the more they can keep to themselves is the more they can keep for themselves.
Mostly they still end up as auctions but not on some street where just anyone can barge in. Boardrooms are the go.
Who’s winning?
It’s no longer local vs. offshore. Over the last 20+ sales in 3142, local Chinese buyers have been winning winning winning.
Not the Top
Below $5m has been miss and hit. Blame interest rates, school fees, car leases, holiday houses.
Pause buttons are working hard.
Let there be odd
Flinders vendor. Listed at $25m+ over a year ago.
Time passes. Time passes.
Last week, sold for $mid-teens.
Reality can be callous.
Toorak. Montrose Ave (con’t).
Last year. EOI surfaces. Expected $11-12m. Fails.
Time passes. Time passes.
Lists for $16.5m.
Now. Just sold for $14.5m.
“Hello, is that Consumer Affairs Victoria?”
CAV goes to the dentist
REIV insists agents rarely let the side down.
The side begs to differ.
CAV says, “Really? Maybe we should see what the wounded think.”
The CAV has teeth! Now you can dob in an agent and expect action.
Applause!
REIV vs. Rogue
The agent who believes it’s OK to steal others’ work.
The REIV is now on the case.
They win, or ‘Sole Agent’ means nothing.
Come in. Don’t. Come in. Don’t. Come…
“Come Wednesday…”
Wednesday comes. The door is shut. Nothing for sale here.
The lesson?
Don’t wait ’til Wed.