As property market momentum cools in many parts of the country, sellers are having to work harder — and smarter — to get a result.
With interest rates biting, post-budget nerves rattling the market, and clearance rates easing, the balance of power on Australia's auction floors has shifted — and savvy sellers are taking notice.
Some vendors and their agents are getting creative, dangling incentives that would have seemed unthinkable during the boom years.
Call them sweeteners, deal-makers or acts of desperation, here are some strategies adopted by sellers determined to get a result.
Driven to sell
When agents talk about 'extras', they usually mean ducted air con or a garden shed. But a growing number of vendors are throwing in something with a little more horsepower — a car in the driveway, title included, for whoever signs on the dotted line.
This six-bedroom house at 19 Brian Street, Merrylands in western Sydney comes with two sets of keys — one for a double-storey home with a heated pool and spa, and one for a free Alfa Romeo 4C. All for $2.75m–$3m.
Now out of production, this supercar fetches upwards of $60,000 on the used market.
This Sydney home includes a free Alfa Romeo 4C supercar gifted to the successful buyer. Picture: realestate.com.au
Agent Alexander Sallit at Ray White Parramatta said the offer of a car has certainly fueled interest in the home.
"It's a unique selling point. Buyers were definitely excited and some wanted to have a look inside."
He said the vendor wanted to boost motivation, knowing budgets for many are tight.
"A lot of people actually sell their cars when they buy a house because they don't have the money. This is the reverse — you get a free car as part of the deal."
He said the current market rewards innovative strategies.
"There's definitely a need for thinking outside the box."
Going once, going cheap
Nothing draws a crowd like the promise of a bargain — and a $1 reserve may be the fastest way to guarantee a packed room on auction day.
More bidders means more competition, and so it proved for this four-bedroom home at 1 Mansfield Rd, Benalla.
This fire-damaged property had a $1 auction reserve. Picture: realestate.com.au/sold
The property was "likely damaged beyond repair" by fire, according to the listing, with on-site inspections impossible due to safety. Even the agent hadn't set foot inside, with interior photography captured by drone.
Agent Peter Symes at Ray White Benalla set the guide of $55,000-$60,000 based on land value plus estimated demolition costs, on the assumption the structure couldn't be saved.
"It was a difficult one, so we were trying to come up with creative ways to engage with the market," he said.
He initially suggested an unreserved auction, but then the vendors decided to "have some fun with it" and set the reserve at $1.
"They had some flexibility and just took it in their stride. They were prepared to take a punt," he said.
The property sold for $98,000 after a 30-bidder frenzy. Picture: realestate.com.au/sold
It paid off spectacularly. The campaign generated a flood of inquiry and sparked a 30-bidder frenzy that took the final sale price to $98,000 — nearly $100k over reserve, in fact.
For Symes, it was a nerve-wracking strategy, but one he'd use again with the right property.
"Heading into the auction, I was super nervous because they'd obviously put their faith in me. But I was stoked that we got them the outcome that we did.
"I love pushing the boundaries and trying to find creative ways to do things better and differently."
Timing is everything
Sometimes the sweetener isn't a product or a discount but an iconic setting — offered when everyone's paying attention.
This seven-bedroom, eight-bathroom home at 457 Conrod Straight, Mount Panorama overlooks the world-renowned racing circuit, with front-row seats to the Bathurst 1000, the Bathurst 12 Hour and other motorsport spectacles.
The listing of this property was timed around the Bathurst 1000 annual event. Picture: realestate.com.au/sold
Agent Grant Maskill-Dowton at Raine and Horne Bathurst knew the $4m-plus price tag would be a hard sell in a regional centre.
"It was an unheard-of price bracket for our region at the time."
Plus, not everyone's a rev head and would see the location's appeal.
His answer was to let the calendar do the work. He listed the home in October — just as the Bathurst 1000 put the town in front of 5.5 million motorsport fans across Australia and around the world.
The property sold to an international buyer within days. Picture: realestate.com.au/sold
It sold within days for $4.5m.
"It generated phenomenal exposure and global interest," he said.
"In the end, the buyer was a racing car driver and motorsport enthusiast from North Carolina."
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