On The Street | Mar/Apr 2022

The real estate industry has been forced to evolve with the appearance of COVID.

One significant change was online auctions. They suddenly took all that public anxiety away as sellers could watch the auction online on their tablet or phone, all without the onlooking crowd of neighbours. Buyers could now bid right from their phone while drinking a flat white at a cafe without a thousand eye balls staring them down with laser-beam accuracy. The separation from the 'public spectical suddenly made buyers bid with more gusto and determination...and bid they did! It took us by surprise.

For sales agent Dave Lane, it confirmed the LaneCampos philosophy of adapting strategy to changes in buyer behaviour. With his recent sale on Platt Street, Waratah.

Dave says. "the market is constantly changing. To ignore it means that sellers may miss the right buyer for their property which may isolate buyers from purchasing their perfect home."

Why did you choose an online auction strategy for 47 Platt Street?

This home was a one-off for the area. It was beautifully renovated. The flow and styling were perfect. It was a rare find for the area that many buyers, both locally and from Sydney, would fall in love with, so it was important to attract local and out of town buyers to the campaign.

How did buyers respond to the home?

They absolutely loved it. As soon as they walked up the crushed stone pathway, you could tell that they were falling in love with each footstep. There was something special about the home. It was like a high-end country cottage from a style magazine with a surprise at every turn. The open plan kitchen/living with its picture frame glass panel overlooking the backyard was the 'we're in love' moment for most buyers.

Who was the typical buyer coming to see the property?

It was a mix of local buyers, from the Hunter, Lake Macquarie and Port Stephens. I would say that a quarter of the buyers were from Sydney looking to relocate for work or a sea-change. The hospital and Uni were big draw cards with some buyers having a connection to them with their work.

Of the six bidders on the day, four were from Sydney, and they were impressed that they didn't need to travel to Newcastle on the day to bid.

Who ended up buying the home?

Interestingly enough, it was a local buyer from the same neighbourhood. They were looking to do a larger renovation to their home. However, when they saw Platt Street, it ticked all the boxes. It was great to see the home pass hands onto a local family.

To other sales with the team:

Roland Campos fell head over heels for a colourful cottage at Cross Street, Mayfield when he first met the owners. Beautifully renovated while keeping the original heritage character in mind, this three bedroom home sold via online auction for $1,040,000.

5 Cadell Ave, Mayfield, sold by Anne Alexander, sparked a lot of interest. A stunning home with an amazing rear garden, it had 14 interested parties wanting to call it home. Selling at $970k it went beyond the owners' expectations. We know the new owners and their much loved dog are going to love it!

Over at 3/303 Turton Rd, New Lambton Bec Williams marketed an impeccably presented two bedroom unit. A stand out apartment with its open plan design and uninterrupted parkland views from the balcony, it was no surprise this one was snapped up by first home buyers wanting a relaxed lifestyle amongst thriving New Lambton.