Broker sees real estate selling for $ 200,000 above asking price after he has held the Melbourne Cup auction for a long weekend to reduce traffic noise
- Brokers use smart tactics to get the most out of auction data
- Only 300 items were auctioned in Melbourne during the Melbourne Cup weekend
- Two agents said it was a strategic decision to hold auctions on November 2
Smart real estate agents have benefited from a brutal but smart tactic to maximize the selling price of a property.
Barry Plant Doncaster Eastern agent Mark Di Giulio chose the Melbourne Cup holiday long weekend to auction the property in Bulleen, in the north of Melbourne.
Most Victorian brokers deviate from the Melbourne Cup for a long weekend because too many potential buyers are gone.
Some estate agents used the Melbourne Cup long weekend to get the best possible result on the objects they had auctioned, including a three-bedroom house Bulleen, Victoria (photo)
The agent who supervised the property said it was on a main road that it was no problem to conduct the auction on the notoriously quiet Melbourne Cup long weekend
During the long weekend, only 300 auctions were scheduled in Melbourne, realestate.com.au reported.
Di Giulio used it to his advantage instead, because he knew that the reduced holiday traffic on busy Manningham Road would mean less noise at home, making it more attractive.
& # 39; Because it is a main road possession, it will clearly make a little noise, so we thought to auction in the long weekend when there are fewer people on the roads, & # 39; he said.
His clever tactics paid off with three groups of sellers competing for the property.
& # 39; It was raining on a main road in a long weekend – so we were against it, & # 39; said Mr. Di Giulio.
The property sold for $ 910,000 to a young couple who had bid $ 870,000 before the auction date.
Adrian Nyariri, agent of Jellis Craig Whitehorse, also said it was a strategic decision to hold the auction for the home of Frances Avenue in Vermont, Victoria on November 2.
Despite pouring rain on November 2, both agents were able to sell their properties close to or directly at the asking price for each
In the meantime, a mansion has been auctioned in Box Hill (photo) for $ 200,000 above the minimum price with a large number of buyers competing to make it their own
Di Diululio said the couple were together on a rare long weekend and that it was only the fifth house they had looked at.
Giulio was not the only agent who had the same plan for them at the weekend.
Jellis Craig Whitehorse agent Adrian Nyariri also said it was a strategic decision to hold an auction on November 2.
& # 39; As a Melbourne Cup weekend, buyers who really want to buy just turn up, we like that at an auction because it means people keep going & he said.
The property on Frances Street in Vermont, Melbourne, was sold for $ 1.56 million.
In the meantime, a mansion has been auctioned in Box Hill for $ 200,000 above the reserve price.
According to figures from the Real Estate Institute of Victoria, there were only 186 auctions in the state in the week that ended on November 3, compared to 1368 in the previous week.
"As a Melbourne Cup weekend, buyers who really want to buy just turn up, we like that at an auction because it means people keep going," said Mr. Nyariri about the tactic
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