Local family snaps up $2m Kensington house after it passes in
https://www.domain.com.au/news/melbourne-auctions-local-family-snaps-up-2m-kensington-house-after-it-passed-in-999086/
Would you pay that much after the property was passed in?
Many people do not move out of their suburbs, or return to the suburbs they once lived in.
It is important for real estate agents to letter box drop not just to get more listing from the neighbourhood, but also let the neighbours know of the property in the market should they want to upsize or downsize. These neighbours may also let their friends or relatives know of the property is available so that can move close to them.
Most sellers treat their houses as castles, and therefore it is not advisable to ask the opinion of people in the neighbourhood to estimate the price of the property close by. The price is likely to be inflated.
Thank you for reading.
