You know that oft recited saying, ‘it’s not what you know, it’s who you know’. Well, in real estate, that couldn’t be truer. Contacts are everything when working your way up and even more vital if you want to get into prestige real estate as most sales happen privately.
Privacy is very important to the seriously wealthy and as demand for luxury properties continues to rise in Queensland, more wealthy home-owners are opting for discreet ‘off the market’ secret sales. Only real estate agents ‘in the know’ can get in on the action.
“The simple fact is that the people of Queensland don’t see a lot of the big sales because they tend to happen privately. The prestige market is moving again and in the last six months I’ve had more people asking what’s available in the way of riverfront estates and multimillion-dollar properties”, observes Glen Gracie Real Estate Principal, Glen Gracie.
Glen Gracie swiftly sold a riverfront New Farm property for $8.5 million in a private deal thanks to his contact circle in late 2014. “I asked if they [Oxlade home owners] were looking to sell and, after a brief phone call to one buyer, I sold it to them right there and then for $8.5 million on the day.”
Queensland Real Estate is Going from Strength to Strength
The Real Estate Institute of Queensland (REIQ) reports residential real estate sales are at a 5 year high. Queensland sold $51 billion worth of residential properties in 2014. The state’s strongest performing property demographic for the December quarter was $1 million+ bracket homes.
“Some regional areas also notched up a healthy volume of prestige sales, including Townsville where 10 properties sold for upwards of $1 million. Hamilton in Brisbane took out the highest individual sale with a house selling for $7.125 million, followed by a $5.15 million sale in Teneriffe and a $5.1 million sale in Currumbin”, states REIQ CEO, Ms Antonia Mercorella.
Recent Big Name Private Purchases & Sales
Gina Rinehart’s purchase of a $14 million dollar Hawthorne house.
The sale of an $8.5 million dollar Sovereign Island’s super-mansion.