Leane was in a pickle. 2 weeks into the marketing campaign for her North Croydon property, her open for inspection volume wasn’t meeting her expectations.
“I was a bit worried. A week or two after the marketing campaign started – we were getting feedback about the inspections. I had a few friends selling around Windsor and Prahran at the time and their inspections had groups of 20 compared to the 5 groups I was getting in the outer suburbs. I wasn’t really sure what to expect – you always want more people to walk through. It got me thinking about how many people would attend the auction.”
It was during this time Leane first heard about Gavl through Stockdale & Leggo. She had bought another property in Templestowe Lower and with the settlement date fast approaching, Leane was keen to find new ways to find buyers.
“We had to sell because we bought a new place. Anthony Molinaro, the auctioneer, suggested going for auction even though the market wasn’t great.”
As an agent with years of experience in the real estate industry, Anthony is well aware of the tentative nature vendors have when it comes to selling via auction. He said:
“Auctions are always the most transparent way of selling property. It gives the vendor an outlook of what the market is willing to pay for the property especially in a cooled market. In the Eastern suburbs of Melbourne we find this excels, as competition is brought together and bidders can compete openly against each other.”
“Auctions also offer no conditions (no subject to finance, building and pest inspection, subject to the sale of a property, etc). In a transitioning market, subject to finance becomes common especially with banks being tighter on lending – the auction method allows this not to play apart when selling. It also allows buyers to obtain their pre-approval with financing and in so allowing them to partake in the auction arena.”
Leane had bought 10 Carol Hancock Place in North Croydon at Private Sale and had never experienced an auction before, let alone an auction live-streamed via Gavl.
On auction day attendance consisted of 22 onsite attendees and 14 Gavl live-stream watchers with an on-site bidder kicking off proceedings. The auctioneer soon followed with a vendor bid and looked to the onsite crowd to participate. Enter Gavl bidder stage right to who lead the bidding from that point on and was the successful buyer.
Leane said “Anthony was really good when the price wasn’t going as much as I wanted – they came in and kept me updated. Eventually I sold above reserve price. It was a good outcome.”
In relation to the sold price Anthony said:
“Our job was to obtain the best result for her. Having the property sell prior to auction was a real possibility however we still believed that conducting the auction was still the best method for sale in this circumstance. Utilising Gavl, we were able to allow a bidder we met throughout the campaign (who was unable to attend the auction due to Auskick commitments) to actively watch and bid on the property.”
When asked about her experience of live-streaming her auction with Gavl Leane said:
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