Is selling at auction right for you?
What is a real estate auction?
An auction is a method of selling a property through the process of public negotiations to determine the true market value of the property at that time.
The benefits of an auction
- Sense of Urgency: The auction day deadline sets a finite selling period and creates a sense of urgency amongst buyers.
- Buyer Competition: An auction creates the conditions for buyer competition – which can lead to a premium price.
- Options: You remain free to consider any offers before Auction day, if you choose to.
- Certainty: Buyers must bid on an unconditional basis, meaning no complicated conditions.
- Control: You are in control – you set the reserve and select the possession date that suits you.
- Tracking Interest: All salespeople can register potential buyers for your property via a centralised online database, so we can track interest and contact all interested parties in the event of a pre-auction offer.
- No Price Limitations: By marketing without a price you are never limited by an asking price that is too high or too low, so you can attract a wider range of buyers.
- Feedback: Your salesperson will provide regular market feedback to assist you in setting the reserve price of your property.
To find out more about auctions, including how to set the reserve, how the bidding process works, pre-auction offers and how to best market your home for an auction, contact your salesperson.
