The team at Ray White Corrimal and Unanderra are marketing a Berkeley property with a public reserve in a bid to guarantee a sale for their clients.
“Our clients came to us because they need a sale. Circumstances out of their control mean they need a result quickly. We decided this was the best way to achieve a sale in a short timeframe,” said Director of Ray White Corrimal and Unanderra, Lindsay Begley.
The property at 64 Hertford Street will go to auction with a public reserve price of $328,000 - about 20 per cent below the median sale price for three bedroom homes in the area.
“We’ve included data from Corelogic on our advertising so that buyers are aware of current market conditions. We’re offering full transparency. This home needs to sell, and the current owners are prepared to accept a below market price,” Lindsay said.
The two week auction campaign is the shortest Ray White Unanderra has ever run. Lindsay said while the reserve is set lower, it doesn’t mean the property won’t sell above and beyond expectations.
“That’s the beauty of auction,” Lindsay said. “Ultimately the market will decide what the house is worth.
“All the reserve price does is makes a sale more achievable. Our vendors aren’t in a position to wait for the best price, they’d rather set a reserve that brings about a result quickly than get no result at all.”
On Saturday, 15 October at 5.30pm the property will go to auction.
