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Reading Time:

2 minutes

Published:

16 June 2016

Home Sellers Learn From Auction Nightmare

[CASE STUDY] IF you’re selling your home by way of public auction your worst nightmare has got to be – NO ONE BIDS! Well, that’s exactly what happened to Robyn and Peter.

Watch the video below to hear how Robyn and Peter learned from their nightmare experience and turned it into a dream result.

Robyn: My name is Robyn.

Peter: And my name is Peter.

Robyn: We’ve sold our home in McKinnon. Probably about 12 or 13 years ago, in Murrumbeena, we sold a house by auction method then.

Peter: It was a normal, six week campaign leading up to auction, with advertising and, it was quite stressful. We found open houses very stressful. You’ve people coming in, just sticky-beaning, not really interested in the place. We found it also disappointing, because when auction day did come along, we had a big crowd there and there wasn’t one bid. There wasn’t one bid.

Robyn: We were under stress and we felt like we had to accept whatever was going on the day because we’d, you know, paid for the auction, we’d paid for advertising and you feel somewhat compelled to accept whatever you get.

Peter: We ended up having to accept a lower price than our reserve price, to move that property.

We chose Katie ‘cos we were very impressed with Katie. How well she presented herself and presented TG Newton as well. And we preferred not to go to auction.

Robyn: We’d had a few other agents around over the last, sort of, few months, so we had a fair idea of what the value was. We added a little bit more; what we thought was a bit of a premium. So, we asked for probably a little bit more than the agents had indicated and we were somewhat surprised when Katie came in with a contract of sale, at our price.

Peter: We put about $100,000 on top of the valuations that we were getting from the other agents. And Katie got that for us.

Robyn: We were prepared to negotiate from there down. We were basically presented with something that we found very acceptable, in a short period of time.

Peter: We had the offer within 10 days of the place going on the market.

Robyn: So we were very, very pleased with that.
Property: 1/67 McKinnon Rd McKinnon
Owners: Robyn & Peter Curtis
Agent: Katie Ryan
Sold Price: $1,200,000
Asking Price: $1,200,000

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