Thomas & Alice’s Journey

Saturday started with a flash of brilliant sunshine and a warm spring breeze, but by midday, the Melbourne weather had turned decidedly glum. To my trained eye, buyer moods felt just as grey, with many families and couples just walking through to glean ideas or keep an eye on the market. No really strong contenders showed any signs of bidding.

This was good news for me and my clients. They were waiting around the corner in their car and had made the decision to stay under cover for the auction. We had met earlier at Kew’s Movida Cafe and we strategised our moves – particularly in preparation for a pass-in. Many buyers ask me how I can glean whether a property is more likely to pass in – and there are indicators.

The best indicator is gauging the agent’s level of enthusiasm in the final week. If the agent is keen to take an offer prior to auction, or if the agent is looking for commitment signs that you are prepared to bid on the day, this can be a sign that the campaign is not going as well as planned. In this particular case, the agents had taken thorough steps to call every single person who had been through the property in that final week – a strong sign that the bidders were not firmed up.

I had been engaged in the final stages to bid on this property, so unlike some other assignments where I’ve either chosen the house or I’ve seen it with my buyers, I was new to this property.

As I pulled up in the rain I could see exactly what the magic spell was all about – it is a beautiful period home that has undergone substantial renovations. Its special essence is actually how beautifully it blends into its surrounds. The streetscape was inviting and comforting, the renovation work remained true to its original era, the backyard was incredibly well presented and showcased an inside-meets-outside party space and the room sizes were generous and the extra touches gave me house-envy. In fact, there was nothing I could fault at this property – and that is unusual for a buyer’s advocate.

The auctioneer started the auction and called for bidders repeatedly. I let him place a vendor bid before I offered a $25,000 bid. Not surprisingly, the property passed in to me after his attempts to get a competing bidder to challenge me failed. The crowd was mixed, but as I’d worked out earlier, I was on my own. My anxious buyers responded quickly to my texts and after 50 minutes of tenuous negotiations, I secured their fabulous home.

So what was it that led to such limited interest for something that could arguably be described as perfect? Could it have been that Election Day played a part? Was it that period homes don’t appeal to a large slice of the Balwyn family home demographic? Or could it have been a bit of bad luck for the vendors? Two of their shortlisted front-running bidders bought alternative properties in the final weeks of the campaign. I think that it was perhaps a combination of all of these factors.

One thing is for sure – on Saturday, my clients secured a stunningly renovated period family home in one of Melbourne’s premium suburbs for a great price.