1 West Close, Illawong, NSW, 2234
$980,000
House
•What's around 1 West Close
Seclusion & Size
Buyer's review
Seller's review
Dissatisfaction
With the Sydney market as lively as it was I believe the agency attracting just two bidders for the auction was unsatisfactory. I had expressed my concern that they were marketing to the wrong people which was born out by the other registered prospective bidders who failed to bid as the starting price was already too high. I had set what I believe was a realistic, but ambitious, reserve price. The agent, before the auction commenced, suggested a price that was $200,000 below that reserve price be reached before he spoke further with me. Once the bidding had marginally surpassed that lower price the agent advised me that the two potential bidders who had not yet made a bid were going to start their bidding once the house was "on the market"; I was told the other bidders were expected to get serious when the house was on the market. I put the house "on the market" expecting to get a lot closer to the reserve price. The auction was completed within 60 seconds, with no further bids, at that lower price; effectively, the reserve price had been changed. I had mistakenly understood that the reserve price was still in place. If ever their were to be a next time I would be more cautious about what my agent were advising me. Apart from the actual auction and the very disappointing outcome I found Bill to be very likable and he kept me informed about what it was they were trying to achieve and the outcomes of the open houses they were conducting.
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