19 Sep Why Auction
Selling by the auction method involves a highly structured and extensive marketing campaign designed to expose your property to the greatest number of potential buyers, who compete to maximise your sale price and minimise the number of days your property is on the market.
This method signals to the market that you are committed to selling and that buyers need to prioritise their inspection of your home with some urgency as it will be sold on or possibly before the advertised date.
With price removed, enquiries are higher and increase your opportunity to reveal the premium buyer for your property.
A premium price is achieved from open competition between buyers, in one place at one time with a strong desire to purchase your property on the day. They see each other, it gives them confidence. They want to win and they know who they have to beat, to own your home. Buyers like the transparency of auction.
Your auction can be held at your property or in our rooms.
The sales team and the auctioneer work as a very tight-team throughout the auction process to get the buyers in, get them bidding and get you sold. The auction is carefully strategized prior, so that there are no surprises for you, other than a pleasing selling price.
Our auctioneer is a professional negotiator, appointed by you, to act on your written instructions.
You will set the reserve price and terms, below which the auctioneer is not permitted to sell. You are in control with our support and advice based on accurate buyer feedback obtained through your campaign.
Prior to auction buyers must have all their due diligence and conditions satisfied to be in a position to bid, so an unconditional sale is made, assuming your reserve price is reached.
The key to success on auction day is the thorough preparation by the salesperson during the entire auction campaign to ensure as many buyers as possible are in a position to bid.
On your instructions, your home can be sold prior to the advertised date.
If you receive an offer that is “auction stopping” that you wish to accept, we can bring the auction date forward, contact all your registered buyers and conduct the auction sooner than anticipated.
The key advantages of auction are:
- Builds urgency and a purchase deadline amongst buyers
- Creates a competitive transparent purchasing environment
- Finds a true ‘cash’ buyer with no conditions
- Provides complete control for seller – you set the terms
- Option of accepting offers prior to auction
- Removes risk of under or over pricing
- Focus is on the property and not the price