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Proptech Carpool – Bondi, Buyers & Off Market ft. James Ledgerwood

March 12, 2020
Get to know the buying opportunities for in Bondi by checking out today’s Soho Carpool episode with James Ledgerwood from The Agency.

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Here’s the transcript of the video:

I guess, Bondi, why is it such a great investment destination?
Why do so many people want to buy an apartment or a house or a semi?
What's the attraction?
In the last 15-20 years there’s been a massive shift
in Bondi in terms of the liveability
with the restaurant/cafe scene’s gone crazy.
You've got some great options here.
We’re finding you’ve got the combination
of young families wanting to live here.
There’s great schools, good catchment areas.
Have the kids near parks, near the beach.
Go to the Surf Clubs and raise the kids that way.
But also I’m finding there's a lot of downsizers.
Whether they're going to houses, semis or into an apartment.
And they're selling out of their bigger properties
and so Vaucluse  and Bellevue Hill
And they've had their kids grow up already
and they've lived around this part
and they've always used Bondi or Tama as their beach
so when they downsize and they want to come close
and it's sort of got the same liveability as your Darlinghurst
and Paddington from a Cafe and Restaurant scene
but it's got the beach and the Parks.
Yeah. good point.
Let's say I’m a buyer the moment.
I guess I’m looking at Bondi, I've been looking for a while.
What are the buying opportunities that you would see for me
or advantages of me kind of coming to market
and I guess looking to buy a property?
As a buyer at the moment, post election,
I think the advantages as a buyer right now is that
if you find what you like, jump on it because
while some of the buyers are frustrated by levels of stock.
There's a belief that there's a lot of stock coming on in Spring
which, if that doesn't happen
you're going to find more frustrated buyers.
And the competition at auction could end up being greater.
There could be a little bit of a spike in buying
but right now there's a shortage of houses.
There were only, when I checked, 11 houses for sale
in Bondi, North Bondi and South Bondi.
And we're getting 20-30 groups through an open home on the weekend.
Yeah.
Of those, only 4 or 5 are definitely buyers.
And how many would normally be in the marketplace? You’re saying 11.
What would be the average?
You’d be thinking 20+ right now.
So we're probably sitting at about 50%
Given it’s Winter at the moment
and if you’re beachside generally a lot of people say
wait until Bondi’s sexy in the middle of Spring and Summer,
but if you turn right right now. Those are beautiful waves, clear blue water.
It's a cracker.
Again, just touching on off-market for vendors.
What does that actually mean?
And I guess what are the advantages of Off-Market property?
Off-Market can range from- I've told an agent that it's around.
And you're probably not going to get many  buyers through.
But Off-Market in my terms is we're doing it softly.
We are taking the photos, we've done the video.
We have an auction date that's scheduled.
It might be 6-8 weeks down the track instead of 4
and it’s that 10 days to 2 weeks
before we hit the button on Soho
or on the other platforms to go live to the public market.
Gotcha.
So might save you a couple of grand in print and digital
Yeah, and I guess that's the thing right?
That's a big thing for vendors not having to pay for vendor paid advertising in terms of marketing something online.
And when your campaigns are running between $6,000-$25,000 that offer before could be much nicer.
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