5/104 Ryans Road, Nundah
With increasing interest rates and the ongoing cost-of-living crisis in Australia, the listing of 5/104 Ryans Road occurred when buyer caution and media speculation meant there was no guarantees in a property transaction.
Having worked with Karl Garufi previously, the owners of this renovated unit had existing trust in his process. This launched provided the campaign with the chance to run at great pace, creating urgency and competition as soon as the listing went live.
Through the right choice of marketing approach, effective communication with buyers and sellers, plus the negotiation ability built over his years in the industry, Karl was able to help deliver a truly fantastic result that was above and beyond the owners expectations.
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The Challenge:
It’s not every day that an opportunity to purchase a unit in a small, quiet and private complex comes up in Nundah, so an impactful campaign would always have a shot at success if executed with confidence and accuracy.
What represented a challenge, however, was the changing property market.
With suburb records continuing to topple, the effects of interest rate rises and cost-of-living were becoming more apparent. Buyer confidence had started to show signs of waning, and properties were beginning to see less parties in attendance at open homes.
The Strategy:
As a previous client, the owners of this property knew that Karl was a safe pair of hands to trust their recently renovated property with.
In turbulent times, you can understand the stress that some sellers would feel, and allowing your agent the autonomy to build a campaign based on their knowledge, not what you’re hearing in the news, can be difficult.
Karl quickly identified and communicated what had to be done, and in this case, the owners agreed with his strategy. He knew that the best result relied on creating urgency and competition, and built a strategic marketing plan around a ‘best offers’ buyer campaign.
The Outcome:
Following the campaign launch, interest was apparent, which translated to 13 buyers inspecting the property across the opening inspections.
Interest was obvious; the property was well presented and the key features were clear. The unit offered open plan living, a private leafy balcony, thoughtful renovations, and a great location in a suburb becoming known for the lifestyle and amenities on offer.
Once offers were presented, negotiations saw the initial price increase by $15,000, to a final sale price of $815,000, a 1.875% increase from the first offer.
This result represented a hugely successful campaign. The sellers were able to sign a contract after just 3 days on the market, with a sale price that was well above their expectations.
Your Nundah Property Expert
If you’re considering what your property may be worth in the current market, Karl Garufi is Nundah’s leading real estate agent. He has been awarded Agent of the Year by RateMyAgent for five years running, and has the local knowledge and experience to recommend the ideal strategy for your property and situation.
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