CORRECT PRICING AND MANAGING EXPECTATIONS

Our market has weathered the storm with resilience, however, that still doesn’t mean agents can over-promise results to potential clients. While its great to see property prices holding firm, we have noticed an increase in price adjustments across our region in recent weeks as buyers become more patient in their selection process. The unusual nature of this market means that correct pricing and more realistic expectations will see listings attract more interest and find the right buyer more quickly.

Honest, accurate pricing has always been something we pride ourselves on. It’s part of the C&H DNA to be completely transparent to avoid false hope and the need for adjustments during the campaign. Our pricing strategies are based on insightful research and careful analysis of the current market, meaning we’re able to detect nuanced changes. We also apply this same level of transparency to buyers, believing that total honesty is the only pathway to success. This is how we continue to help move people forward, as highlighted in the following sales stories.

10 Hancock Street, Rozelle

Peter Gordon and Ralph Daher sold a really special listing at 10 Hancock Street, Rozelle under the hammer. The historic 1907 Balmain Tramway Substation is the last remaining intact structure of its kind in NSW. Residentially zoned R1 with commercial usage, this industrial beauty offers 470sqm of internal space over three levels with triple parking.

Peter comments, “This was a very unique property as it’s uncommon to come across a warehouse of this scale in the Rozelle area. It would be one of our most viewed listings online, not only for its rarity but also for its potential. The property received strong interest from a range of buyers, from commercial investors and owner occupiers to those looking to convert to a very special warehouse residence.

The vendors have been clients of ours for more than a decade. They have sold and purchased multiple times through us and we always tailor our approach depending on the property type and market conditions at the time. We feel that we ran the right process from day one, recommending an auction campaign which flushed out multiple interested parties and provided complete control over the sale timing. Everything went very much as expected. Marketing was extensive, including Real Estate, Domain, Real Commercial and other commercial real estate portals, as well as the bonus of being featured on Domain Dream Homes.

The owners’ were kept well informed throughout the sale process and we managed to achieve a result that both the buyers and vendors were extremely happy with. We had more than 30 contracts issued and multiple registered bidders on auction day. The buyers were local, very familiar with the area and known to us. The ultimate sale price of $2.9m was within our recommended price guide.”

8 Croydon Road, Croydon

Marcus Hejtmanek and Ben Southwell sold 8 Croydon Road, Croydon, an elegant freestanding four-bedroom Victorian home for which our team managed a significant overhaul of the property.

Ben comments, “This listing actually came to us via a referral through an agent from the southern suburbs. We co-ordinated a pretty comprehensive makeover, from clearing the house, painting and carpeting to carpentry, plumbing, new light fittings and gardening. We project managed all the works through our trusted tradespeople and the vendor trusted our advice from start to finish.

It was a really appealing property and demand was solid. The ultimate buyer had been on our database for a few months. We were very open and honest with them regarding the vendor’s expectations which made them feel comfortable as they knew from the outset what price would secure the home prior to auction. All in all it was a really smooth transaction for all involved, which really came down to our transparency around price.”

93/69 Allen Street, Leichhardt

Chad Egan sold a three-bedroom townhouse at 93/69 Allen Street, Leichhardt after the owners had undertaken a stylish renovation a few years prior. Chad comments, “When the time came to sell, the property was already looking great. It had been tenanted for a year so there were a few minor cosmetic updates. We arranged our handyman along with our stylist who furnished the property so that buyers could walk in and immediately envisage themselves living there. The styling made a huge difference, ensuring that the renovations were really brought to life.

We’ve had a lengthy relationship with the vendors who had not sold a property for many years so it felt unknown to them. We carefully explained and guided them through the process step by step. Constant and open communication allowed them to make quick and informed decisions when needed.

The property was launched as a forthcoming auction campaign and was on the market for only 15 days with nine contracts issued. There was a lot of interest as it was a beautiful renovation and a great price point for a young couple or family to start a new chapter in their lives.

After one open we already had buyers who were keen to put an offer forward. However, we waited another week to ensure we had the majority of active buyers in the marketplace and were able to undertake negotiations between all interested parties. This resulted in an incredible price for the vendors of $1.5m.”

4/15 Australia Street, Croydon

Joseph Karam and Jim Nikolopoulos sold 4/15 Australia Street, Croydon, a modern freestanding two-bedroom townhouse, for a vendor with whom they’d had a long-term relationship and had sold for some of their family members. Joseph comments, “We were chosen for our innovative marketing and our respected brand.

This property was of real appeal to the first homebuyer market. The ultimate purchaser from Ashfield was buying for the first time so we really made the effort to hold their hand and guide them through the process to minimise stress. All in all we had an impressive 122 inspections, 17 contracts issued and four registered bidders on auction day, with the hammer coming down at $890,000.”

1 Brighton Street, Petersham

Namir Mikha sold 1 Brighton Street, Petersham, a freestanding character family home offering potential to further capitalise. Namir comments, “This sale really hinged on the transparency of our process and the work that we put in with buyers. Although Petersham is extremely popular, this location rather close to busy Crystal Street may have been a negative for some buyers. However, this was compensated for by the generous land size and the fact that the home had been in the one family for 55 years, meaning there was some scope to really add value. 

We carefully helped our vendor navigate the sale through daily communication, plenty of face-to-face meetings and most importantly being available to answer their calls at any time. Finding the right purchaser came down to our marketing reach, our extensive network and our diligent work with buyers, keeping all interested parties really up to speed on where we were at.

With 10 contracts issued and six registered bidders on the day, we sold the property under the hammer for $1.930m which was a great result given the climate.”

Preparing your property for sale

It’s what we do behind the scenes all day every day that matters most 

At Cobden & Hayson, we’ve sold over 12,000 homes and with that level of experience we know how to expertly present your home and elevate it to another level. With our signature care and personal touch, we’re always eager to roll up our sleeves and get involved. From advice on minor and major renovations to working with professional, effective and cost-efficient tradespeople, architects, builders, florists, stylists and cleaners our team has the resources to enhance your home and maximise your investment. Need some advice? Call us today.