Lisa and Peter were looking for a different way to sell their home to the usual Public Auction method used in their area. They reached out to The Jenman Group and were referred to TG Newton Real Estate in Oakleigh. They sold their home by Private Sale which is where all the interested buyers get to submit their best and final offer for the property. Lisa and Peter were glad they did because their property sold for a price they could have never achieved at Public Auction. The difference in the winning offer and second offer was $45,000 and if their home was sold at Public Auction they very easily could have missed out on the extra $45,000 that the buyer was willing to pay.
Below is an extended transcript to read if you are not able to watch the full video above.
My name is Lisa. My name is Peter. We just sold our property in Hughesdale.
I was terrified of the thought of going through auction. We didn’t want to have to go through that again. The stress of having it open every weekend was a lot to deal with. Auction day was terrifying. And you have to make a decision very quickly. They sort of force you to sell at the price that’s given.
It was awful, we didn’t like it. So I’d heard about Jenman, the Jenman system and they let me know who the local agent was that was Jenman approved. With the Jenman system, they train negotiators and that’s where they come into their own. It’s all about the negotiating and we definitely found that when we were selling.
Eon negotiated with the potential buyers, he got a really good price for us. Obviously, the markets changed a little bit so we had to be realistic. We put the house on the market at $1,500,000. That was our dream price.
We had a few people through but no offers at that stage. We dropped it by $50,000 down to $1,450,000. We were a bit concerned but then we were also realistic that house probably wasn’t worth that much. Eon came back a couple of weeks after that and said we need to do something drastic. So we went okay let’s do it, so we dropped it to $1,350,000.
I was a bit shattered. I just thought that this was a great house and it was just going to go very quickly, but it didn’t and I was a bit worried at that stage by how much we were falling. The result though was it created a lot more interest for our property.
I think it was about a week and then the offers came in. He brought three people to us that had offers, it was such a nice feeling to know that we had three offers and we opened one at a time and each one was higher than the next one.
We thought that when he brought the offers to us that it might only be that $1,350,000 but he also said that he would work really hard for us to get it above that and he felt confident that he could get it above that. So we trusted that he would do that and he did it in spades. The final selling price was $1,421,001. We were really happy, it was a relief.
We were happy to pay more commission because you pay for what you get. With other agents you’re paying for the marketing, you’re paying for an auction. You’re paying for all those extra things. With TG Newton you’re paying for the expertise in negotiating and at the end of the day that certainly paid off for us.
Eon got us about $45,000 more than what we would’ve got if we had gone through an auction because the amount between the two top people that made an offer was quite substantial. It was about $50,000. If we had gone to auction the buyers can hear what the other one is bidding so they’re not going to jump in with a $50,000 bid if they can just win it with $1,000.
This is our life so we wanted and got the best price, so happy days.