In Perth’s competitive real estate market, Geoff found himself in need of expert assistance to sell his townhouse in Tuart Hill.
Referred to Momentum Wealth’s seller’s advocacy team by one of our buyer’s agents, Geoff sought guidance on pricing, marketing strategies, necessary repairs, and expediting the property to market during a busy time of year for him.
Geoff’s 3-bedroom, 1-bathroom townhouse was part of a group of four in Tuart Hill. Momentum Wealth carried out an evidence evaluation of the property and based on similar recent sales in the area, appraised the property between $535,000 and $560,000. This aligned closely with the selling agent’s appraisal of $540,000 to $570,000.
Developing a property value-add strategy
Recognising the need for enhancements before the property’s sale, our seller’s advocacy team went into action in the first week of January. They coordinated the installation of new carpets, carport ceiling and internal wall painting, tidied up the garden, added woodchips to sandy areas, and arranged a light overall clean. With an investment of approximately $5,800, these improvements aimed to increase the property’s appeal.
To further enhance the property’s presentation, digital furniture was incorporated into the online advertising for the property, creating a visually appealing online presence for potential buyers.
The results: property sells above expected price
In mid-January, the property was listed for sale with a “From $520,000” price tag. This strategic pricing approach attracted attention, leading to a high turnout during the viewings held over three days. Over 50 couples attended, indicating a keen interest in the property.
The proactive efforts of Momentum Wealth’s seller’s advocacy team paid off, generating an impressive 20 expressions of interest and 13 offers within a short period. Offers ranged from $526,000 to $600,000, with the client ultimately accepting the highest offer of $600,000. The buyers – first-home buyers and occupiers – presented their offer with a substantial cash deposit and a very reassuring pre-approved finance clause.
Geoff, the property owner, expressed his satisfaction with the entire process. Not only did the property sell quickly and at a higher-than-expected price, but the first-home buyers were also thrilled with their new investment.