Five Swings, One Home Run

The Clients
This couple had recently sold their two-bedroom apartment and were looking to upsize with a growing family. They had the benefit of staying with family while they searched for the right place, but equally, that wasn’t a long-term solution.

They initially came to me for assistance with an auction and, after being unsuccessful, upgraded to the full service offering.

What Was Important to the Client

Location: while they wanted to be as close to the beach as possible, their budget meant we prioritised Maroubra, Kingsford and Rosebery. These were the best options based on lifestyle, property and budget.

A character home with serious renovation potential. It didn’t even need to be immediately liveable.

Natural light: more important if considering a semi, but with the focus on creating a family home, we needed good natural light in the living areas.

A decent outdoor area to accommodate the family dog and growing kids.

The Search
This was one of the most challenging briefs I’d had in a while. Not because the requirements themselves were particularly unique, but because we were so tight on budget and these types of three-bedroom homes are highly competitive. It meant we would likely have to take multiple strikes before we hit the bullseye.

That can be tough as a buyer, but it’s important to keep a pulse on market movements and identify if, at any point, the market is slipping away from you.

We also had one benefit in this scenario — because my clients had already sold and were living with family, they had the ability to save faster than market prices were rising. This isn’t always the case in Sydney, but ultimately it’s what secured them their new home.

Strike One — The Auction That Needed Popcorn

Our first strike was the property I went to auction for them on, 8 Minneapolis Cres Maroubra. It was such a wild auction I wrote a whole blog post just on that.

Strike Two — The Sale That Was… Until It Wasn’t

Our second strike was equally brutal. An off-market three-bed semi in Wild Street, Maroubra that I sourced for them. It needed a fair bit of work but was immediately liveable, and the renovation of the other side provided a great precedent for what was possible. I even chatted to the neighbour at length about their renovation, the challenges they faced, and the costs involved.

We got all the way to offer and acceptance. Contracts were signed and a deposit paid. The agent congratulated us and told us it was exchanged.

It wasn’t.

One half of the selling couple refused to sign the contract and the deal fell over. A really poor outcome for my clients.

Strike Three — The “We Had to Try” Dream House

Our third strike was a bit of a “shoot for the moon — even if you miss, you’ll land among the stars” scenario. We all knew it was a long shot on price, but sometimes as a buyer you don’t want to miss your chance.

For my clients, this was a dream location in Coldstream Street, South Coogee. A cracker of an opportunity, but we simply didn’t have the money to compete at the pointy end of negotiations and had to walk away.

Strike Four — Eight Bidders, One Broken Heart

Our fourth strike was actually the first property I ever inspected for these clients: Napoleon Street, Rosebery.

I inspected it pre-market before the styled furniture had even gone in. I knew my clients would love it — the perfect balance of charm, character, liveability and scope to renovate. They came through 24 hours later and we were ready to strike pre-market.

However, the owners — four siblings who had inherited the property — wanted to go to auction to ensure a fair and transparent result. While not a legal requirement, it’s common with deceased estates to avoid disputes later.

Unfortunately, that meant no pre-market offer. There were five weeks until auction, which is when strikes two and three happened — we weren’t sitting idle.

As great as the property was, there were eight registered bidders. While we were competitive, for Rosebery we didn’t see value over $2,700,000 and walked away.

Strike Five — Finally, the Bullseye

Our fifth strike hit the bullseye. After patience, defeat and perseverance… we got there.

The Property
A freestanding, double-fronted Californian bungalow in Kingsford. Three bedrooms, off-street parking, liveable as is, and packed with character that could easily be retained through future renovations. The backyard was big enough for a future pool — and without sewer lines to contend with — which was a huge bonus.

The Outcome
Initially when I saw this property, I didn’t think my clients had the budget. They definitely didn’t have the budget to secure it pre-market. However, once the on-market campaign kicked off and buyers started to flounder, we struck at the optimal time — the week before auction.

The owners were ready for certainty, and we put forward an offer strong enough to wet their appetite pre-auction. This avoided a repeat of the Napoleon Street scenario a few weeks earlier.

After so many near misses, calling my clients to congratulate them on securing this gem was an amazing feeling.

The learnings

After strike four, my clients came back to me with a list of suburbs about 5km away and said, “Let’s go look here instead.” Part of my role is removing emotion from the decision. Even though they felt down and out, I knew their budget and brief weren’t the issue — we just hadn’t found the one yet.

We opened up to other areas but kept a core focus on where they truly wanted to be. In the end, patience and perseverance were rewarded.