3 Barkley Street
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The Property – 3 Barkley Street Marsden Park NSW
Land Size : 332m2 approx.
Storey : Double
House Configuration : 4bed / 3bath /2garage
Builder : AAARapid
House Design : TBC
* North facing w balcony
* Prayer room
* 2.7 ceilings both floors
* Security system
* Extra wide hall high gloss tiles
* Picture niche w lighting
* Decorative doors
* Garage fitted for conversion
* Down stairs room w ensuite
* Fans in room
* Mirrored sliders
* U shape kitchen
* 60mm ceaser w waterfall edge
* Walk in pantry
* Laundry w custom joinery
* High gloss xl tiles
* 900m gas
* Xl sink w upgraded taps
* Fan in main living
* Custom curtains
* Timber staircase glass balustrade
* Upgraded bathroom package
* Timber floors upstairs
* Separate rumpus upstairs
* Good sized master w walk in ensuite
* Feature lighting throughout
Estimated sale range: $1,290,000 - $1,340,000 REALISTICALLY Based on the recent sales evidence as per the CMA Guide attached, But we will aim higher and quote above the CMA range initially as this is a moving market and demand is very high.
Remember that this price range indication is only my assumption of where the market will react to the property based on the recent sale evidence in the CMA,
At the end of the day I can suggest a range, You can suggest a range, but ultimately it is the buyer who dictates the final price –
My Job is primarily to transmit the information required to sell this property and create excitement to the buyers so that their own perceived value is as high as possible.
I have observed other similar 4,3,2 houses with good inclusions sell around $1,200,000 - $1,250,000 recently however you have a better location than most and I suspect if we emphasize this plus some of the more luxe inclusions like the 50mm ceaser stone benchtop and XL kitchen space we can exceed the market average.
How do we estimate the market value of a property ?
Comparative Market Analysis (CMA) – This is the most important part of the appraisal as it provides a comprehensive overview of all the properties which have sold in an area, Your properties CMA should only include properties which are “comparative” meaning the 3 components of the property should be considered and compared to the property being valued. The CMA should include all properties of the same configuration sold in the area within the most recent market cycle or most recent relevant market.
*In this CMA we include only properties sold in the most recent market cycle which are atleast 4 bedroom with 3 bathrooms.
What are the 3 components of property evaluation ?
Land Size & Location – The most important thing to all buyers & the banks is Land Size & Location, A small house with very basic inclusions can easily outprice a large house with top inclusions as long as the land is larger or in a better location.
Configuration – The second most critical factor is the house configuration, Meaning the number of bedrooms, bathrooms, garages etc.
Inclusion Level – Lastly the inclusion level meaning the standard of the inclusions throughout the house can heavily effect the price in some cases and barely make a difference in others this is because most inclusions are purely cosmetic and do not improve the liveability of a home for example 40mm ceaser stone is very nice, and may look better than 20mm ceaser stone but in reality it can easily be upgraded any time so it doesn’t affect the price too much.
The type of inclusions that do have a much larger effect on the house price are ones that significantly improve the liveability of the home or ones which cannot be easily upgraded later for example ; high ceilings, swimming pools etc.
Key Takeaways from the CMA guide for your property:
The market has trended up very quickly during lockdowns, Similar 4,3,2s has sold for around $1,200,000-$1,250,000 but Im very confident I can get a result around $1,300,000.
There is always 3 prices for every single property on the market including this one :
The Bank/Valuer price : TBC by the valuers, Their price is based on the recent comparative sales it will be the same as the estimated market price above.
The buyer’s response price : (This is an estimate of what the buyers will want to pay for the property) Usually buyers try to purchase below certain price thresholds, In this case the “threshold” will be likely be $1,300,000
The Buyers will likely say : “I like this house but I’m not willing to spend anything over $1,300,000…”
One example response to this : “Yes I understand you may not want to spend over $1,300,000 today, But market is trending up right now FAST - if you hesitate here you may miss this one and find yourself paying even more for the next…”The Emotional Price : (This is the price someone is willing to pay when they absolutely fall in love with the idea of living in the property – When they cross the perceived threshold and do whatever it takes to secure the home)
This only happens once they properly visualize themselves owning the property and get hooked on this dream, To get the “emotional response” they must be made fully aware of the dollar value of all the inclusions (We have to layer on the value they are getting) including the hard work which has gone in to the property which they themselves are not required to do, And they must have a fantastic experience at the inspection which we are very good at giving them.The Emotional buyer is always the target when I am selling & I am a specialist in generating these types of buyers especially.
HOW TO TURN AN AVERAGE BUYER INTO AN EMOTIONAL BUYER :
Properties need to be immaculately presented on every inspection.
Perfect styling is crucial in channelling the buyers attention to the right features of the house and creating the dream of living there within their mind.
My presentation of the home must be strategically planned out and flawlessly delivered – I believe the agent has got to be able to tell a compelling story about the property, What it provides and how it all came together.
The buyer experience inspecting the property must be considered fully : For example the property must be easy for them to locate (this is why we use corner pointer signs), They should be made to feel very comfortable inspecting (room temp must be good, bottled water offered etc), And moving the round the house must seem effortless so we try to ensure they don’t get stuck in any rooms or on the stairs when there is large groups for example. (they will remember this)
We have to appeal to all their senses, It should smell good even taste good & sound good so I usually have cookies or chocolates at all my open homes as well as scented candles & always have some music playing because there is nothing more uncomfortably deafening than a silent home.
These are just some of the strategies I have developed over the years to create and close emotional buyers, These strategies have allowed me to gain a reputation for getting incredible results time and time again by going the extra mile.
THINGS TO CONSIDER ABOUT YOUR PROPERTY
The reasons yours is special is :
The location is superb, Shopping centre is now visibly under construction nearby
The new Northbourne School is short walking distance as well
The inclusion level has features which present above average (50mm ceaser stone)
Things that some buyers may see as potential drawbacks & other potential issues :
TBC
My priority will be presenting the home and framing it in such a way that the buyers get emotionally attached to the property from the very onset – It is crucial that we rock every inspection and make sure that a sense of urgency and competition is created, This is what I’m very good at !
Capability
Number of homes I have sold this year within 10km of this property : 47+
I am an experienced agent familiar with high end designer built houses in affluent suburb’s previously specializing in The NW zone from Castle Hill to The Ponds where I still sell today.
Marsden Park NW Sydneys best performing growth precinct is my home patch where I invest most of my time & energy
When you list with one of us you get us both (Pera Tutua-Nathan & I) as we work together as a team and we have an assistant each so you get 4 local specialists at your disposal.
As a resident agent living nearby in Marsden Park I have a distinct advantage over the competition - When HOT buyers are in the area and call to make an inquiry I can be with them very quickly capitalizing on every opportunity to present the property in those moments when buyers are available & at their hottest !
Urban Land Housing have a truly massive evergreen database of buyers from across NSW especially Western Sydney and we believe we meet & speak with more buyers than any other Real Estate Agency in NSW due to our role as A leading project sales agency.
Our retail offices including the shop at Greenway Village Colebee & Marsden Park Shopping Centre (Opening Soon) will play photos/video of the property on 24 hour rotation at the entrance of the shopping centre providing great exposure no one else can promise.
As a projects marketing agency as well as a real estate agency, We have a very large network of developers such as Stockland who often send us buyers who come into the land sales office looking for ready built homes.
*The Stockland employees keep the brochures of our recent listings in their office and provide these to people who go there looking for houses, This level of support from local developers selling land is something no other Agency can offer.You will find our marketing grade is well above any regular real estate agencies as we work at the elite level in projects and developments.
Current Market Conditions:
Lockdown 2.0 has been a gift in disguise, Lack of motivated sellers has made it tough for Agents wanting to replenish stock and what this means is the laws of supply & demand have been able to set the market ablaze AGAIN with property prices surging in the last 2 months to all new record highs, Where does it end – Nobody knows, We are well overdue a big correction & something like this drama in China just may be the catalyst needed to trigger it.
Corona virus is presenting new challenges and new instability & uncertainty to the market, Yet people are still buying like crazy and the low stock is helping prices bloom but its worth noting stock will increase in Spring/Summee as always and help to cool the market.
Interest rates are lower than ever now recently dropping to 0.10% a historic low, This is good however some banks have begun increasing interest rates and if rates increase by just 1% we expect a 10% drop in property prices based on historic modelling.
Outlook for Sydney market in 2022 – We expect the market which is right now at the absolute peak to cool off especially rolling in to Winter.
Vendors with property they don’t want to hold for at least 3 years should consider selling now while its good as the long-term forecast is dubious
Summary – Homes are selling quickly and the prices are VERY good !
Recommended Marketing Strategy IF you decide you want to go for the full campaign which always gets the best result:
1. Method of Sale: Private Treaty Traditional negotiation based sale (With the threat of an auction if not sold by XYZ date)
2. Recommended commencing tagline: “Sublime Location at the Heart of Elara..”
3. Recommended pricing: No price initially, We’ll make people call and inquire and try figure out what their budget it, I’ll Pitch the price very high at the start $1,300,00+ and see what feedback we get when pitching high around that mark just in case there is an opportunity there over 1 mil that the evidence isn’t accounting for – Then we’d collect all their feedback to that initial asking price and adjust accordingly if needed but we try not to overprice for too long if the market does not respond well to the initial ask figure we will contact you for approval to adjust lower.
4. Reporting : At least every 2 weeks you will receive a “Vendor Report” from me which will detail every facet of your campaign including , How it is travelling, Who the buyers are, Buyer feedback, Advertising metrics, Additional tasks to be completed, Any ideas I may have for the campaign & also a summary of what I am thinking at that point in time.
5. Styling needed ? : Yes, If you want the best price possible I would suggest getting a stylist to at least offer some free advice to spice it up.
6. Best time to start Marketing : Sooner rather than later, Strike while the market is at its peak & stock is low, Don’t hesitate too long as many competitors will arise in late spring.
7. Signboard Necessary : Must Have
8. Inspections : Private covid safe 1-on-1 inspections every Saturday as OPEN homes are currently suspended in NSW.
This is the current type of strategy which we are employing to great effect,
This year Pera & I have sold 3x as many houses here in our core area Marsden Park as our nearest competitors and hold multiple price records as well.
The property would be marketed through all the following channels:
TheesanPanther.com (Check my personal Website/Blog for more about me)
Marketing package required to launch full campaign : “V.I.P Package $2,800” (Option to pay 50% upfront and 50% on settlement or end of campaign is available)
The Package will include everything below :
Professional Photography
Professional Videography (usually an extra $500)
360 virtual video tour (FREE)
Aerial Drone photography & video
Premium Listing on REA.com.au & Domain
Facebook posts (targeted & boosted toward certain areas and demographics)
Instagram posts (Social media is A crucial selling point in 2021)
Brochures for anyone who inspects
Just Listed DL postcards to the entire suburb
Floorplan Redesign (simplification)
Signboard (6x8ft XL Board)
TOTAL INVESTMENT : $2,800 for everything required which will ensure we get the best possible result, It works out to be less than 0.3% of the potential sale price.
SELLING FEE: Our standard selling fee we are supposed to quote is 2.2% But I really want to produce this campaign & get the next house & pool sale so happy to offer 1.65% INC GST.
I hope that I’ve provided all the information you require to make your decision & eagerly await any confirmation from you that you are happy to proceed & allow me to represent you and your best interests in the market.
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