Case Study - 43 Edwin Street

Case Study - 43 Edwin Street

THE SITUATION

After a failed auction campaign with a different agency, the vendors of this almost new one bedroom apartment with car park in Mt Eden were at a loss. 
Being sold vacant, their holding costs were becoming untenable as there was no rent coming in and the cost of staging, marketing and mortgage were significant. 
The sellers came to City Sales to request an analysis as to where their current campaign had gone wrong and how to remedy the situation.
After a conversation discussing the previous campaign and best strategy to move forward, the vendors moved their business to City Sales in a final effort to enact a successful sale, fast.

THE STRATEGY

A strategy session revealed the existing campaign was too general and a standard set and forget marketing campaign wasn't enough to get the property sold.
Taking into account the vendors need for a quick sale and the type of property and expected sale range we presented the owners with an auction campaign as the best way forward. Auction would minimise the vacancy period and force interested parties to act in the vendors timeline.
Marketing was targeted to the young professional buyer. The apartment was made to look sleek, sexy and attractive to a trendy crowd who might otherwise overlook the unit for traditional housing.
Whilst marketing was written for this buyer group – all buyers were actively targeted through ECRM, colleague buyers, direct mail campaigns, social media and creative viewings (evenings, weekends, groups etc) to ensure maximum competition. 
First home buyers formed the bulk of the interest as expected.

THE RESULT

Open homes were held mid week, weekends and evenings in order to get as many people through the property as possible. 
Private viewings were also encouraged so First Home Buyers could bring their parents back for a second look.
Over a 2 week campaign we took approximately 35 groups through the property.
On auction day we had competitive bidding and after 18 unconditional bids the property was sold under the hammer.
Over $100,000 was achieved in minutes from opening bid to final sale price.

"We employed City Sales to sell our amazing Mt Eden Apartment. They recommended that we should take this property to auction. Having a great three week marketing campaign really pulled the buyers in and we easily achieved an incredible result with many bidders in the room and on the phone. The City Sales agents were easy to work with and very responsive when it came to contact. Above all else, they knew what they were talking about and were very in tune with the marketplace which helped achieve the sale."

Want your own great results?

If you’ve been on the market for some time without selling, the situation can be frustrating but it’s certainly not impossible to get the job done as proven here and in our other case studies.
If you want to exit the market, we would love to help you reach a successful result of your own.
Call or email us anytime for a no obligation chat about how we can reinvigorate your sales campaign. 

09 3030 601 | sales@citysales.co.nz