Jo came to us as an investor unsure of the right direction. There were conflicting views around what to buy and where to focus. After a detailed strategy session, we aligned on a clear plan to target units in inner Brisbane, focusing on locations with strong demand and long term growth.
We inspected a number of quality opportunities, but the market remained competitive. Several properties sold above budget, including one auction where we walked away at $955,000, only to see it sell for just $5,000 more. It reinforced the importance of discipline and sticking to the strategy.
Not long after, another opportunity came up in a highly desirable location. We assessed the value to be between $950,000 and $980,000. There was hesitation around attending the auction, with concerns it would push beyond budget. We made the call to attend regardless, knowing auctions can be unpredictable and opportunities can present themselves on the day.
At the auction, bidding started but quickly slowed. We entered at $900,000 and the property was passed in below reserve. The agent indicated the seller was hoping for around $970,000 but suggested $950,000 might get it done.
Understanding the seller’s position and motivation to sell, we held firm at $900,000. After some back and forth, we increased to $920,000 and made it clear we would walk if it was not accepted.
After further negotiation, the seller agreed.
Jo secured a quality asset in a prime inner Brisbane location, well below both market expectations and initial guidance. A strong result that highlights the value of patience, strategy, and disciplined negotiation.
