Proactive approach builds value in the face of construction

When it comes to selling waterfront properties, Ray White Maroochydore real estate agent Niall Molloy is no stranger to listing contemporary waterfront apartments. In fact, for most sales agents, listing properties like this is a dream come true. A dream nonetheless, for apartment complexes along the developing Maroochydore waterfront, ongoing construction can present certain challenges when buyers are seeking a construction-free view and lifestyle. An agent experienced with residential developments, we sat down with Niall to learn more about the $1.36 million sale of 2608/100 Duporth Avenue Maroochydore.

“In my opinion, ‘Avalon’ is one of the nicest complexes on the Maroochydore waterfront. The finishes are high quality, the location is second to none, and the onsite amenities are world class. I was fortunate enough to have previously sold another unit in the building and knew the developers quite well, so I was recommended to work with the owners,” says Niall.

While the quality on offer was fantastic, the property faced the unusual challenge of an active construction site which was going to block out a significant portion of the view that the property currently enjoyed.

“Although beautifully positioned, adjacent to the property was a new building site for a luxury high-end building called ‘Lorient’. This brought the obvious challenge of buyers being concerned about their view becoming compromised. Many buyers struggled to envision what would be there and how it might affect them,” says Niall.

Having sold Sunshine Coast real estate like this before, Niall knew that an honest and proactive approach was the best strategy when communicating with buyers, and carried this through his marketing campaigns and onsite inspections.

“We focused on the positives, while being very exact around the new building that was being constructed. Instead of focusing on the view being affected, we placed emphasis on the incredible lifestyle that an award winning complex offers. One avenue in which we highlighted this was through a high-end video featuring actors who were able to get out on the water, spend time in the gym, go for coffee and just show what ‘a day in the life’ looked like as the owner of the property”.

“In addition to highlighting the positives, we ensured we had all of the council plans and architectural drawings for ‘Lorient’ on hand for every inspection. For most buyers, the initial concern of a new building was eased once they understood exactly what the future held for them and were able to make an informed decision. Attracting enquiry from right around the country, buyers certainly understood the value of the Sunshine Coast property market, and this desirable Maroochydore apartment for sale. Inspections were filled with downsizers who loved the area and were either looking for something right on the water, or set slightly back with a good position and great quality.

With three registered bidders on the day itself, the auction ultimately saw two buyers who had recently located from Brisbane competing for the sale.

“One of the bidders was already renting in the building, and the other had been looking around in the Maroochydore market for a little while. The bidding started at the $1 million mark with a few bidding increments up to $1.15 million where we paused the auction, negotiated, and sold under the hammer at $1.36 million. The key factor in this sale was that the buyer was already renting in the building and on the same level, so they were familiar with what the building offered and were able to look past the construction and understand how fantastic the lifestyle was,” says Niall.

A great outcome for all involved, we wrapped up by asking Niall what his top tips are to sellers and buyers facing similar challenges.

“For sellers, I would say that it’s very important to address the elephant in the room and to trust the agent’s recommendations when they say that investing in interior styling and lifestyle marketing goes a long way. As for buyers, I would recommend that they carefully review all material provided to them by the agent before making any premature assumptions, don’t be shy to ask questions, and to also use the free tools at their disposal: such as Development.I to find out what’s going on in the area if you are concerned about any potential development,” says Niall.

If you’d like to learn more about buying or selling a Maroochydore apartment from an experienced Sunshine Coast real estate agent, contact Niall Molloy.