News Corp Australia Network
A BRISBANE buyer’s agent was silenced at an inner-city auction on the weekend when a three-bedroom townhouse sold for $30,000 more than a superior home in the same complex during last year’s boom.
In December 2021, a three-bedroom Annie St townhouse with a pool sold for $1.14m.
Armed with this knowledge, buyer’s agent Amanda Turner rejected the suggestion of a $1m opening bid at the auction of another townhouse in the same complex that did not have a pool and started bidding at $920,000.
“We came in with a range of high $900,000s to $1.1m, with some factual information that showed it would lean to being worth under $1.1m,” Ms Turner said. “But that’s being led by facts and not emotion.”
Digital marketer Chris Ee did not care that 3/28-42 Annie St, New Farm had no pool and he was one of three other bidders who brought emotion to the auction.
“I was at another auction down the road on Annie St a little while ago and we missed out on that one. It’s a beautiful street,” he said.
Brisbane’s only female auctioneer, Place Estate Agents’ Tara Kelly, stood in a patch of winter sun in the complex forecourt to welcome around 12 people to the Saturday morning auction.
“I think I add a bit more, not emotion because I don’t want to take that away from the guys, but maybe some warmth and definitely colour,” Ms Kelly said. “I’m an advocate for more female auctioneers because we need them. Some of the best performing agents are now female and the auctioneers’ space needs to follow that same path.”
On this point Ms Turner strongly agreed. “I love it. She’s great, and she’s very relevant to this market,” Ms Turner said.
But when pressed to see value above $1.06m for the three-bedroom townhouse, she disagreed. “The market is softening and what that means is yes, you can have auction approval but you still need to hit some finance terms and the valuation not meeting those terms can impact your financial capacity. We still look at making sure we have a reasonable capital purchase value.”
Mr Ee had been looking for an inner-city townhouse for two months following the sale of his Fortitude Valley apartment in May.
He and another bidder continued the auction after Ms Turner went silent with Mr Ee and his partner buying the townhouse for $1.17m, a record for the block of 12 townhouses.