The Story Behind the Sale: 103/762 Elizabeth Street Waterloo

103/762 Elizabeth Street Waterloo sold in just five days, showing the strong appeal of inner-city units.

Here’s the story behind the sale.

The property

Ian Thompson* made a clever property play, buying 103/762 Elizabeth Street Waterloo off the plan for $455,000 in 2013.

“It was the first property I ever bought,” Ian explains. “I did some research and bought off the plan because, at the time, it worked quite well financially.”

“Buying off the plan gave me time to save more money between putting the deposit down and moving in. But the process of buying my first property was still intimidating!”

Ian says he enjoyed the inner city lifestyle the one-bedroom apartment offered, with a friendly community, cafes, bars, parks and transport all at hand. He also loved the generous size of the unit, the sunny balcony with mature trees right outside the lounge, and the fact that it was modern, open plan and low maintenance.

After living in the apartment for six months, Ian moved out of the city, turning the unit into a valuable investment property and renting it out. In early 2021 it was leased for $540 per week.

Why sell with Clark Estate Agents?

Fast forward eight years to 2021 and Ian wanted to capitalise on the strong property market right now, using the money from selling his investment property elsewhere.

“It was a financial decision to sell,” Ian says. “I wanted to realise the capital growth, and sell in a hot market, so I could buy something else”.

“I loved the area, and the apartment and I’d live there again in a flash, except I have a wife and a dog and we’re planning a family,” he explains.

He made enquiries with a few agents but decided to sell through Clark Estate Agents.

“It’s a competitive environment and the fees and pricing from all the agents were very similar.”

“But Brendon Clark was very responsive, explained his strategy, and told me everything I needed to know very quickly,” says Ian. “Plus, he came up with some improvement ideas that no one else did. I’m an attention to detail person and I felt that this put him a cut above the rest.”

Brendon organised painting and electrical work to be done prior to the sale, alongside some property styling.

“He also guided me through the process of selling because I’d never sold before. He referred me to people like conveyancers along the way and they were all good.”

Thinking of selling?

Just researching the market?

The story of the sale

“The sales process was ridiculously easy,” Ian says. “Granted, it’s a hot market, but we had excellent communication from Brendon.”

The property went on the market on a Friday afternoon. The first – and only – open home was the very next day, Saturday, when around 20 groups inspected the property. Five contracts were taken, and by Monday there was a serious offer on the table.

“The offer was in the ballpark, and I accepted it Tuesday,” Ian says. “The whole thing was done within five days.”

The unit sold for $670,000.

What the owner says

Ian says he threw out a few challenges along the way, which Clark Estate Agents were more than happy to accept.

“I felt the price guide we initially discussed was a bit too low. But Brendon was happy to work through it, and I thought it ended up in the perfect spot.”

Halfway through getting ready to sell, life got in the way and Ian had to move back from the country. Clark Estate Agents happily pressed pause on the preparations until things relaxed.

Then, when Ian received the initial offer he wondered if he should wait, to see if a higher price could be achieved.

“Brendon Clark was very transparent with his advice,” says Ian. “He wasn’t pushy. He didn’t tell me what to do. He guided me, but he let me have the choice.”

“I found the process a lot easier and smoother than I thought it would be, which took me by surprise,” Ian says. “It was a great result.”

If you’re thinking of selling or buying in Rosebery, Waterloo, Redfern, or Wolli Creek, contact us today.

*not his real name

Article by Brendon Clark
‘The details matter - through every part of the process.’ With decades of runs on the board alongside a fresh outlook, Brendon is co-director of Clark - and one half of one of Sydney’s most dynamic and successful real estate duos. Having carved out a reputation for results in the… Read More
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