Springfield auction's remarkable tale

The coronavirus has created unprecedented challenges for all industries – including real estate.

But the recent result of a revitalised and recrafted sales campaign in Springfield further underlined the importance of intelligent and strategic property advice during these uncertain times.

Under the guidance of Toop&Toop Sales Partner Sarah Jaensch, a property at 11 Delamere Avenue, Springfield sold under auction conditions, just hours before government-imposed restrictions were introduced.

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The result was even more remarkable considering the property was first offered for sale almost 12 months ago to finalise a deceased estate.

The imposing three-bedroom home, located in one of Adelaide’s most prestigious suburbs, was in good condition but the décor was outdated and initially struggled to attract buyer interest.

The campaign launched in April 2019, calling for expressions of interest. It was then advertised with a price guide of $1.895 million three months later. The price guide was revised twice – in October and December – before a January auction campaign attracted a low informal offer, which was not accepted.

The home was then advertised for $1,599,000, again without attracting a formal offer.

Across 30 open inspections since the property was first launched last April, it had attracted just 23 groups.

Undeterred, Sarah suggested some cosmetic changes to the property could attract renewed interest.

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The home was redecorated and restyled at a cost of about $35,000, before the launch of a fresh marketing campaign with new photos and video.

An auction was scheduled for Thursday, March 26 but had to be moved forward by a day when the government announced real estate auctions would be banned after midnight on Wednesday to help reduce the spread of the coronavirus.

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The auction was rescheduled for 6.30pm on Wednesday, with Sarah working feverishly to advise all interested parties of the change.

With strict social-distancing procedures in place, the auction kicked off with a vendor bid of $1.495m from auctioneer, Toop&Toop Director of Residential Sales Bronte Manuel.

Sarah was then able to negotiate an offer above this opening bid, which was duly accepted.

It was a wonderful result, made even more remarkable by the extraordinary challenges that were overcome in the days leading up to the auction.

“It was a great result to sell this home – especially considering the circumstances – and is testament to Sarah’s expertise,” Manuel said.

“She worked tirelessly on this campaign and her advice to invest in some renovations, in particular, played a big part in achieving this result.”

The vendors were also full of praise for Sarah’s efforts:

“Your thoughtfulness and kindness, as well as your boundless energy and optimism, have made this long journey bearable.

“I am sure my late parents would also have been confident in entrusting their beloved home to you.”

Toop&Toop