Real estate agent sees property sell for $200,000 over the asking price after he held the auction on Melbourne Cup long weekend to reduce traffic noise
- Real estate agents employ clever tactic to get the most out of auction dates
- Just 300 properties were auctioned in Melbourne over Melbourne Cup weekend
- Two agents said it was a strategic decision to hold auctions on November 2
Clever real estate agents have profited from a cheeky but clever tactic to maximise a property’s selling price.
Barry Plant Doncaster East agent Mark Di Giulio chose the Melbourne Cup holiday long weekend to auction the property in Bulleen, northern Melbourne.
Most Victorian real estate agents veer away from the Melbourne Cup long weekend as too many prospective buyers are away.
Some real estate agents took advantage of the Melbourne Cup long weekend to get the best possible result on properties they had up for auction including a three bedroom home Bulleen, Victoria (pictured)
The agent overseeing the property said being on a main road it was a no-brainer to run the auction on the notoriously quiet Melbourne Cup long weekend
Over the long weekend Melbourne only had 300 auctions scheduled, realestate.com.au reported.
Mr Di Giulio instead used it to his advantage, as he knew the reduced holiday traffic on the busy Manningham Road would mean less noise in the home, making it more appealing.
‘Being a main road property, it’s obviously going to attract a little bit of noise, so we thought to auction on the long weekend, when there’s less people on the roads,’ he said.
His clever tactic paid off with three groups of sellers vying for the property.
‘It was pouring down rain on a main road, on a long weekend – so we were up against it,’ Mr Di Giulio said.
The property sold for $910,000 to a young couple who had put in a bid of $870,000 prior to the auction date.
Jellis Craig Whitehorse agent Adrian Nyariri also said it was a strategic decision to hold the auction for the Frances Avenue home in Vermont, Victoria on November 2
Despite pouring rain on November 2 both agents were able to sell their properties close to or right on the asking price for each
Meanwhile a townhouse auctioned off in Box Hill (pictured) for $200,000 above the reserve price with a host of buyers competing to make it their own
Mr Di Giulio said the couple were on a rare long weekend together and it was only the fifth house they had looked at.
Mr Giulio wasn’t the only agent who had the same plan play off for them over the weekend.
Jellis Craig Whitehorse agent Adrian Nyariri also said it was a strategic decision to hold an auction on November 2.
‘Being Melbourne Cup weekend, the buyers that really want to buy just turn up, we love that at an auction because it means people get on with it,’ he said.
The property in Frances Street in Vermont, Melbourne, sold for $1.56million.
Meanwhile a townhouse auctioned off in Box Hill for $200,000 above the reserve price.
According to figures from the Real Estate Institute of Victoria there were just 186 auctions in the state in the week ending November 3, compared to 1368 in the previous week.
‘Being Melbourne Cup weekend, the buyers that really want to buy just turn up, we love that at an auction because it means people get on with it,’ Mr Nyariri said of the tactic