Imran Hamidi sold an unrenovated two-bedroom Potts Point apartment for $1.77 million at auction after a transparent campaign that attracted 127 prospective buyers and eight registered bidders on auction day.
The property hadn’t been updated since it was purchased brand new in 1985. For the vendors — who were in New Zealand managing an estate sale of their mother’s Sydney apartment — the decision to sell ‘as is’ required careful strategy.
Selling the dream, not the décor
Most agents would have rushed to modernise a 40-year-old property. Imran went the other direction.
“We utilised the original furniture, kept the old artwork and did not change the walls or carpet,” he explains. “We let the view speak for itself and we let the great condition that this aged property was in speak for itself, whilst showcasing that it is a blank canvas for somebody to come in and update it however they see fit.”
The apartment at 1103/73 Victoria Street offered front-row views to the city skyline, Sydney Harbour, the Opera House and the Harbour Bridge. Imran’s marketing emphasised the cross-ventilation, the rare inclusion of parking, and the renovation opportunity.
“We even held additional open homes in the evening to show the beautiful sunset that you could see from this property,” he says.
Buyers immediately saw the potential. The first open home generated serious numbers and the right questions — a signal this was going to be an exciting campaign.
The competition story
Out of 127 prospective buyers, Imran issued 18 contracts. Eight parties registered to bid at auction.
Seven of those bidders had visited multiple times and started envisaging themselves living there. The eighth — the eventual buyer from Woollahra — saw the property for the first time on auction morning.
“There was excitement in the air, there was a buzz and there was also nervousness,” Imran recalls. “The auction was fiercely competitive with multiple parties bidding rapidly.”
The Woollahra buyer won because they’d looked at other properties in the complex and recognised the uniqueness of this floor plan. The cross-ventilation in the lounge room and the fact that both bedrooms had harbour views set it apart.
The unsuccessful bidders were disappointed but appreciated the transparency of the process. Many are still in close contact with Imran, who is helping them find other properties.
Potts Point’s elevated appeal
Potts Point is an elevated inner-city neighbourhood known for its resort-style apartment complexes and proximity to the harbour. The area attracts buyers seeking harbour views and secure buildings with amenities, comparable to nearby Darlinghurst and Elizabeth Bay in Sydney’s eastern corridor.
What worked for the vendors
For the vendors in New Zealand, the auction process provided transparency they couldn’t achieve while overseas. The property had been their mother’s place when she visited Sydney, making it an emotional sale.
“The vendors were thrilled with the final outcome and they were extremely impressed by the service that we provided,” Imran says. “They were happy with the communication throughout, which ultimately helps them make the right decisions in strategy, marketing and day-to-day campaign running.”
The forward view
For other property owners in Potts Point looking to sell, Imran emphasises standing out in the current market.
“We suggest a clear and transparent price guide and auction strategy that is fair and reasonable for buyers,” he says. “And we suggest investing well into marketing and presentation because you need to be able to stand out from all the other properties in the current market.”
What surprised him most was the gratitude from unsuccessful buyers.
“It’s always rewarding when your owners are happy with the result and especially when the purchasers are happy with the result as well. But what makes it even more rewarding is when the people that missed out still come up to you and thank you for everything that you’ve done because it shows that you’ve treated all parties fairly and kindly and helped everybody along the way.”
About the Agent
Imran Hamidi has worked across Sydney’s Inner City and Eastern Suburbs markets since 2013, bringing deep local insight to every transaction. A multi-award-winning agent with a focus on residential sales and high-end buyer engagement, he has established himself as a trusted advisor throughout the region. Visit Imran’s website for more information or call Imran on +61 412332330