Erin Marr sold a three-bedroom, two-bathroom house with a double lockup garage in Orange, NSW, for $759,000, $10,000 above the asking price, with an offer accepted six days after listing.
One inspection, many offers
Erin knew the tenancy at 2A Downey Crescent could work in the vendor’s favour – if she built the campaign around it.
The house was tenanted, which limited private access. Erin turned that into a strategy. She sounded out a small group from her database before launch. When the listing went online on 24 August, she directed every buyer enquiry to one first open home of about half an hour.
Buyers took it in their stride. Once they heard a tenant was in place, there was no pushback on the single inspection window.
Erin had read her audience well.
“I knew it would appeal to first home buyers sitting in that market. So having them all there at the same time for half an hour was really important, creating that urgency.”
Multiple offers followed the open home, and the vendor was able to choose the one that suited best. An offer was accepted on 30 August, six days after the listing went live. Contracts exchanged on 16 September.
A fixed-term lease ran until November. Erin negotiated a slightly longer settlement so the tenants could complete their lease.
The buyers and the decision
The winning buyers were local first-home buyers who knew exactly where they wanted to be. Orange is where their friends and community live, and they were specific about staying close to them.
Many of the underbidders were first-home buyers open to anywhere in Orange. Erin believes most have since bought elsewhere.
The sale formed part of finalising a family member’s estate, so a strong price mattered to the vendor. The house was listed at $749,000, and an offer $10,000 above that arrived within days.
For the vendor, the question was whether to wait for more. Erin talked her through the pros and cons.
“If I let this one sit, will it mean a higher offer later or will it actually mean a lower offer later?”
The vendor took the time she needed and accepted the offer of $759,000.
Why North Orange keeps drawing first-home buyers
Erin sees North Orange changing. It has moved from a heavy rental area to a heavy first-home-owner area, with a young community. It is close to Charles Sturt University and the North Orange Shopping Centre, with easy access via the Northern Distributor Road.
Orange is a regional city on the Central Tablelands, known for tree-lined streets, cool-climate gardens and a strong family lifestyle. Market data reviewed for this story shows houses in the city typically sell in about 30 to 36 days, with the median house price between about $730,000 and $785,000.
About the Agent
Erin Marr, a Real Estate Agent at Belle Property Orange, helps property owners in Orange and surrounds with buying, leasing, property management and selling. Her career spans sales, property management and real estate administration. Clients know her for straight talk and clear plans when problems arise. Erin and her husband have raised their family in Orange. Visit Erin’s website for more information or call Erin on 0422998088.