December 2015

Top Price in 2 Days : Local Knowledge Boosts Sales

Above: 6 Effingham St Tarragindi listed for $650,000 with Matthews Real Estate, sold for $701,000 in the first week.

When Matthews Real Estate sales person and forth generation family member, Russell Matthews, listed this house at six Effingham Street for sale, he knew it would be hot property.What no one anticipated was the speed at which two sales in the same street would occur as a result of using the same agent.

Russell listed six Effingham St, a post war home on 655m2 of land at Offers Over $650,000.  “The sellers were happy to start the campaign with a very realistic selling price, which generated a lot of interest and after the first open home we had four offers to present” Russell says.

He added, “In a strong market the ‘Offers Over’ prefix can work in your favour especially when you have multiple buyers competing for your property. They have a starting point on price and it generally goes up from there.”  To the seller’s delight, six Effingham sold for $701,000 within a week of its release to the market.

The excellent results encouraged neighbours at 26 Effingham St to contact Russell regarding their sale. “In their situation it was a smart move. We had an active database of buyers who were looking for a property just like theirs, and they were ready to buy. Our advice was to give it a week with our database before spending any money on advertising and as it turns out, we only needed 48 hours to get it sold” Russell says.

Matthews Real Estate immediately contacted the three buyers who missed out on the first property one ended up purchasing 26 within 2 days of it being listed with the agency. It was sold for $701,000 to home builders who soon demolished the house to make way for their dream home.

Trevor Matthews, Principal Licensee of Matthews Real Estate, says “It’s more proof that choosing a local agent is beneficial in so many ways – local knowledge, relevant contacts and experience are all the elements you need to make a fast sale such as this.”

Advice for sellers is plentiful online, and Russell has this to add for local sellers:

  • Choose a local agent with a healthy database of buyers
  • Be prepared to take their advice on marketing
  • Set a realistic price from the start to generate interest
  • Try the ‘Offers Over’ prefix when the market is strong. This allows room for healthy competition    

Left: Russell Matthews sales person and fourth generation family member from Matthews Real Estate Annerley, who sold number 6 Effingham St in 7 days and number 26 within 48 hours of listing.
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