The client

An international family who have lives that span multiple countries. They were currently renting in Sydney and looking to lock down a property to have a permanent bolt hold here. Feeling a little overwhelmed and bamboozled by how the Sydney market operates, they reached out and asked if I might be able to assist.

They were one of the first clients I took on after my maternity leave. They told me “we’ve been speaking a few buyer’s agents, but none of them seem genuine like you do”. Their words meant so much to me at a time when getting back into the market and finding my new groove as a working mum was challenging.

What was most important to the client

A low maintenance apartment that could be easily locked up while they travel
An outlook from the living area and balcony that provided depth, space and privacy
Specific location of Paddington or Bondi between the beach and the station
A minimum of two bathrooms so that 3 adults could comfortably live there
Level access

The search

The strategy had to reflect the small geographical area we were working within. Combined with the requirement of two bathrooms, it was never going to be a search that turned up a large number of suitable properties.

In the first week there was an apartment on market with sweeping views over Bondi. I knew it was outside the budget and therefore wasn’t for pursuit. However, as often happens, clients fall in love with a property and find some more cash. However, in this case, my clients didn’t yet hold a valid pre approval from the bank. Without this, we were not in a position to put in an offer. It was an unfortunate outcome and one which happens to buyers too often - you must have that pre approval in place ASAP!

My clients then had a two week vacation planned and so I was mindful we wouldn’t be purchasing during that time. The day after my clients returned to Sydney we went to inspect a property that Monday morning together. It wasn’t right, and that was ok. I told them we’d keep going and I’d be in touch when I found another suitable property.

At 1.57pm that day I called an agent who had an on market property in Paddington. Turned out my timing was impeccable - he was due to meet the owner at 2pm to talk about needing to come down in price.

The property

A ridiculously oversized 200sqm apartment right in Paddington! It was advertised at $200,000 over our budget and so it really didn’t seem feasible… until it was!

Two large bedrooms, two full bathrooms, two car spaces and five balconies! City views and lots of privacy.

The outcome

We moved at the speed of a Cheetah. Within 48 hours of my phone call on Monday afternoon:

We’d inspected the property (twice actually to validate morning and afternoon light)
Reviewed the strata report
Had the contract reviewed and changes requested
Devised our strategy
Submitted an unconditional offer
Had our offer accepted
Signed contracts and exchanged!

Learnings

Always make the call! As a buyer’s agent I spend a lot of time asking agents about how an on market campaign is going. Most of the time things are going well and they aren’t about to reduce their price. However, you never know when an opportunity is around the corner and you want someone on your side to find it when it’s coming up!

Scoring a $2.5m Gem for $2.3m!