THE POWER OF LOCAL KNOWLEDGE

THE POWER OF LOCAL KNOWLEDGE

  • November 26, 2020

It goes without saying that an intimate knowledge of the local market is the most vital aspect of any successful sale. At C&H we immerse ourselves in understanding what’s going on in our neighbourhoods. We know how to read the data and we’ve experienced all of the market’s ups and downs because we’ve been around for more than 20 years, through all of its cycles.

Our team understands every subtle nuance and the seemingly imperceptible changes that can make a big difference. We know the dynamics of different areas and individual streets. On top of this, we’re familiar with the mindset of buyers, who, unlike the media, are the true drivers of the market. How do we know all this? Because we’re out there in the community every day, building relationships, talking to people and really getting a sense of their market sentiment and buying preferences.

11 Hollands Avenue, Marrickville  

Joseph Karam and Jim Nikolopoulos set a record for the highest two-bedroom sale in the street with 11 Hollands Avenue, Marrickville, a freshly updated character semi which fetched $1.345m under the hammer.

Joseph comments, “Our local area knowledge was instrumental in the vendors engaging us for the sale and achieving such a great result. They trusted us as their real estate professionals and we built a great relationship, and in their words they “wouldn’t have chosen anyone else”.  We gave them all the information required to set their home up for the sale including styling, a tailored marketing strategy and effective marketing tools.

Utilising our open database was key to targeting the right buyers, essentially first time purchasers, and we had really strong interest. Importantly, we were able to give buyers all the background information they needed to make an educated decision during their buying process. We were also really transparent about the two recent comparable sales in the street.

By carefully navigating our vendors through all the buyer feedback, they were ready to meet the market come auction day. Relationships proved vitally important to the sale, with the ultimate buyers being a young family currently living in the Inner West who were previous clients of ours.

A common take away from vendors we work with is that they’re encouraged by both our local insight and our ability to market to a wider audience due to our network. Our advice for anyone looking to list their property in 2021 would be to begin the preparation work now – start tidying the home, landscaping, painting if required and the like. Also align yourself with a legal representative that you trust.” 

57 Starling Street Lilyfield

Julie Hatch sold 57 Starling Street Lilyfield, a beautiful and spacious three-bedroom freestanding home, after selling it to the vendors 12 years previously. Julie comments, “After these clients purchased through me more than a decade ago, we kept in touch over the years and they engaged me off the back of that relationship. When it came to the sale, we advised them on presentation. They de-cluttered the home, painted throughout and gave the garden a tidy up. While they didn’t require a total furniture styling package, they did hire a few key pieces to showcase the home’s best features and layout.

We set a five-week auction campaign in place as there was limited stock on the market and after two weeks we decided that with the strong level of interest we would definitely go to auction. A realistic reserve was set and we kept in touch with interest buyers throughout the campaign, offering private inspections if needed. A total of 14 contracts were issued and several of the interested buyers had looked at other properties we’d sold so we understood their requirements.

There were a couple of challenges to combat during the campaign. WestConnex is at the end of the street and the property has a tunnel underneath it, so we were sure to be completely transparent about this. The ultimate buyer only viewed the property the week before the auction so it was important that we had all the WestConnex information along with a building and pest inspection on hand, as well as allowing them additional access to the home.

My advice for anyone looking to list their property in 2021 would be to make sure you do everything you can to present your home in its best light. Also, don’t discount any buyer as you never know when or where they will come from.”

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