THE PINK HOUSE - part 2

Back in 1993, the Courier was a broadsheet, like the Australian today. The pages were huge, and we thought we were heroes when we scored a vendor paid ad in the real estate section of one eighth of a page. I had convinced the Pink House owner that because we were marketing the absolute standout home in Brisbane, we had to make an impact.

The following Saturday, while people all over Queensland flicked through their morning paper, thousands stopped and marveled at the sight of 'Le Rivage' staring back at them, looking like something out of 'Gone With the Wind' from a half page ad, the same size as a full size ad today. I had written what I thought was pretty captivating copy, mentioning all the good bits, as well as the fact that when the Royal Barge was steaming up the river, Prince Phillip had ordered the Captain to hove to, while he took time to marvel at the magnificence of a mansion he never expected to see in a 'country town' like Brisbane. The Royals were here to open Expo 88.

My phone rang off the hook that weekend. I held a handful of inspections the following week, and a few more in the ensuing weeks, but none of them could come up with anything like the asking price of $12M, a King's ransom back then.

A couple of months later I received an inquiry through a Chinese interpreter, who assured me his clients were capable of coming up with the $$'s, and we organised an inspection. To say they were blown away is an understatement. It took us over 3 hours, the highlight for me being the moment we came upon the sweeping staircase with the owners initials woven into the iron lacework. K B L. I heard a sudden intake of breath by the wife, and saw her hand go to her mouth, and thought it must have been the sheer beauty of the staircase, but it turned out to be way more than that.

We negotiated verbally at first, a big no no these days, and eventually prepared a contract at the agreed sale price of $6.8M, a big discount on the asking price, but more than double the nearest previous residential sale. The day the buyers signed it, I knew the reason for the sudden reaction by the wife. They purchased the home in the name of their son, a student at BBC at the time, whose initials were also K B L. An incredible coincidence, and to this day, I still thank the ancient practice of Feng Shui for helping us over the line.

Due to the significant reduction in the sale price, I agreed to a reduced commission, but like my Noosa experience a few years earlier, it was still a six figure sum.

All in all it was probably the highlight of my 30 years career, but there is a problem. Drive past 'Le Rivage' today and it's a mere shell of the work of art those people paid all that money for 27 years ago. It makes me terribly sad to see the unattended cracks in the walls, the dust and mould everywhere, the broken window with a piece of plastic covering the hole, and the decaying, once proud jetty. I do feel partly responsible. See photo above.

Next week I reveal the reason I have written these two stories of my real estate career. Our industry is changing, very rapidly, and I will use these two examples to explain why.