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Investing in marketing ensures top dollar for your property

By Tamara Piplica

4/26 Picnic Point Esplanade, Maroochydore
Sold under the hammer for $772,000 on 12 April 2021
Sold by Niall Molloy 0448 954 272

It’s no secret the Sunshine Coast real estate market is red hot right now, and with demand outnumbering supply, properties are selling fast!

However, that doesn’t mean you should jump the gun and miss out on a potentially higher sale price. In fact, given the buoyant market and with competition at an all-time high, now is the perfect time to let the market decide what your property is worth.

Just ask Ray White Maroochydore agent Niall Molloy, who recently sold a three-bedroom, two-bathroom unit at Picnic Point Esplanade, Maroochydore for tens of thousands more than what the vendor was originally advised it was worth.

“I had the pleasure of selling many apartments off the plan for this beautiful complex so I know it well. It’s one of just a handful of re sales since the building was completed in 2020,” says Niall.

“The big appeal here is the fact that it is new and modern and of course the lovely location on Picnic Point Esplanade.”

A local investor, the vendor was referred to Niall by one of his previous clients when his tenant broke the lease a little early and he was curious to test the waters of the market.

“He was interested in getting some advice and was drawing some comparisons to a couple of new buildings a few doors up that were chasing the early $700s, so we used that as a bit of a benchmark, plus a couple of other agencies had suggested around that figure,” says Niall.

“However, I advised him that due to current demand and the level of competition, taking the property to auction would achieve the best possible outcome for him and it certainly paid off as we sold under the hammer for $772,000, so considerably more than what he anticipated.

In fact, Niall says investing in marketing your property can make all the difference when it comes to the eventual sale price.

“When the market is hot like it is at the moment, people question if they need to spend much money in marketing expenditure. We probably could have brought a buyer through straight away and they may have offered him a price, but the reason you apply a customised marketing approach in this market is to make sure you get the most out of it.

“A shortage of supply means people will put their best foot forward to secure the property.”

Investing in professional photography and a social media campaign ensured the property was presented in its best light and reached a wide audience Australia wide.

“We had one buyer from Brisbane who was the eventual purchaser, another from Melbourne who bid over the phone and a number of local buyers too,” says Niall.

Having been searching for the right property for some time, the new owners are delighted with their new home.

“They are really stoked. They love how modern it is, they love the area and the low body corporate fees. Also, it just so happened the auction was on his birthday, what a great way to celebrate!”

Written by Ingrid Nelson

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