25 Riordan Street, Fadden
We’re now at the end of week 1 of the marketing campaign for your property. With over 2400 internet inspections in this first week we are seeing good traction which has resulted in 22 buyer inspections.
The first week of the marketing campaign is when we expect to see the most inspections. We have a marketplace full of previously unsatisfied buyers, who see your home in the first couple of days of it being advertised online. This then results in a lot of buyers coming to the first open home.
From this point onwards we are now looking for repeat inspections. Regardless of what the buyers say when they inspect the property, if we see people investing their time to come back to your property on multiple occasions over the next few weeks, then it is certainly something they are interested in.
Likewise, if a buyer says they are in love with the home but do not return for future inspections, then it is unlikely they will actually come to bid at the auction.
Days on Market
Open Homes Conducted
Everyone ultimately has an opinion of your property. There will always be those who like the property and those who don’t. As your agent, it’s my job to inform you of the market feedback, this includes positives and negatives. However, I would like to stress that those with the negative feedback are unlikely to buy the property, and those with positive feedback are the interested buyers that we care about.
So, don’t get caught up in the negatives and let’s just focus on the positives.
- Great location next to the reserve
- Good size house with multiple living areas
- Nice yard for kids, animals and entertaining
- Property is impeccably presented
- Lack of storage has been mentioned multiple times
- The stairs are a problem for some buyers
- A few buyers would have preferred a garage
- Most buyers believe they will still need to renovate
Price feedback has been very varied with your property. The lowest price anyone has mentioned was $700,000. This buyer said he felt there was a lot of renovations to be carried out to bring the home up to his standard.
The highest feedback we have received was from one of the neighbours who felt that the property should easily be worth $850,000. I did ask if she would like to buy the home if it were to sell for less than that, but she wasn’t interested in buying the property and said she thinks the house will need a lot of maintenance in the future.
Most of the feedback we have received has been either side of the $750,000 mark. We currently have 3 buyers who have indicated they are interested in the property. One of these buyers has said they’re thinking around the $730,000 – $750,000. The other 2 buyers are thinking in the $750,000 – $800,000 range. 1 of these buyers has said they would make an offer prior to auction of $790,000 however when I asked if he was willing to sign a contract and provide a cheque for 10% deposit in order to show the authenticity of the offer he said he didn’t think that was necessary.
Now that the first week is coming to a close I feel we are in a good position. The majority of the feedback has come in at the level we estimated originally which means we’re on the right track.
The next open home is scheduled for Wednesday evening and I’ll give you a call afterwards. In the meantime, please feel free to call me if you have any questions or want to have a chat.