A Succesful Auction Story: 7 Greenidge Street, Wishart

succesful auction

The real estate market is a dynamic beast that many agents fail to tame. 

Another successful auction this last weekend at 7 Greenidge Street for the Henry Wong Team® illustrates how we are consistently achieving what others can’t. 

What’s the secret to doing this? Read on to find out! 

7 Greenidge: A Lovely Home

Embodying comfort, style and convenience, this is a stunning family home in a prime location. It’s spacious and modern, enjoying lovingly maintained gardens and easy access to shops and amenities. What’s more, it sits in the coveted Mansfield State High School catchment, a very powerful selling point indeed! 

What it comes down to is this: there would be no shortage of buyers for this charming home in a sought-after neighbourhood. We needed to market it in a way that it fell in front of as potential buyers as possible, so that the perfect buyer offering the perfect price could be found for our seller. 

We get to work, with our end target being a highly competitive auction. 

Leveraging a Broad Network

One of the key factors behind the success of this auction was our ability to leverage our extensive network of local, interstate, and overseas property buyers. We work hard on building and maintaining this network, which includes strong ties to wealthy Chinese real estate buyers. In fact, most of our sellers choose us because they know of our focused approach to network marketing. 

When we list a property, our network hears about it first. They pass it on to their networks too, so it gains exponential traction, sometimes even before we put it to the public. This has resulted in many off-market sales for us. 

Preparing the Home for Salestaging for auction

While this is a lovely home, we needed it to be presented to buyers in a way that they can imagine themselves living there. One of the most effective means of doing this is by staging the property, which involves hiring a professional to temporarily furnish and decorate the home while it’s on the market. This is an extremely effective method of helping target the property to the perfect buyer, and one we employ often on homes we list. 

We were also able to give the vendors advice on how to declutter the property and prepare the garden for sale. Untidy yards and cluttered homes will turn away buyers because they stop them seeing the potential in a property. 

Marketing Strategy

Especially in an auction scenario such as this one, we opt for a shorter marketing period. We want to see our seller move onto their next chapter fast, and we have faith in our ability to find a buyer within that time frame. 

Another cornerstone to our strategy is always using professionally constructed marketing materials. We want our photos, videos and floorplans to stand out from the crowd, so we hire absolute gurus to create them.

As well as using the main real estate portals, we have large, engaged followings on social media that help our listings gain exponential reach. For example, over 12,000 followers on Facebook means our listings reach a lot more people than your standard agent who simply relies on the main real estate portals. We also have significant followings on LinkedIn and Instagram to complement this. 

Reaching Overseas Buyers

The more buyers you have, the more competition. At an auction, this really helps us get the best price for the seller. To get more eyes on a property, you can’t just rely on local buyers, you also need to cater to buyers overseas. Many of our buyers are of Asian heritage and have family interstate and overseas. To cater to them and other prospective buyers in our network who aren’t local, we had a 3D virtual tour done on this home. This allows buyers to do a walkthrough of the property from the comfort of their own home, whether they’re in China, India, Taiwan or anywhere around the world. 

Auction Day

Auction day arrived after a short, strategic marketing period. A substantial crowd had gathered to witness proceedings, in alignment with the 44 groups of people who had already inspected the home through us. 

Five registered bidders were set to bid it out until one remained, guided along the way by our auctioneer. The atmosphere was compelling, feelings were running high and there was definitie tension in the air! 

The bids came thick and fast, until the hammer finally fell and 7 Greendige Street had a new owner! The price went above the reserve, keeping our stellar clearance rate high. Most importantly of all though, we had delighted sellers and satisfied buyers looking forward to enjoying their new home. 

An Effective Strategy

Here’s the thing about our marketing and auction strategy – it works regardless of location. In fact, we’ve had success with it all over South East Queensland. It’s a strategy underscored by an unerring commitment to delivering top results, broad-ranging market knowledge and a network that spans across Australia and into overseas buyers markets. 

If your local real estate agent doesn’t take the same approach, chances are you’re not going to get the price you want for your home. We’ll leverage our contacts and our expertise to find the maximum number of buyers for your home, then place them into an extremely competitive environment to land the price you want.

Contact The Henry Wong Team®

We’re celebrating the success of Greenidge, but we’re also looking ahead to achieving a similar result for other sellers. If you’d like to be one of them, please get in touch with us. We’d love to answer any questions about your real estate journey, and help you move onto the next chapter in your lives.