Why Auction​

Auction is a process which allows interested parties to make competitive bids which establishes the current market value of the property at that time, in an open, transparent and public forum. 


Advantages of Selling at Auction:

1. Determine the true, open market value, and have an opportunity to achieve a premium price
2. No advertised price is required
3. Control - as the seller, you set the terms & conditions
4. Maximum exposure for the property within a short, defined selling period of only 2-3 weeks.
5. Allows 3 opportunities to sell - before Auction, At Auction or immediately after, reducing the overall selling time in the market
6. Set Inspection/Opening Plan
7. The ability to gauge a reserve price based on market interest

Most Sellers assume that you need at least 5-6 bidders on auction day, for it to be a success. This is not the case!

A critical ingredient of success in the urgency that an auction creates. Buyers need to complete their enquiries about a property and have their finances in order before the auction.

Auctions also provide transparency for both buyer and seller. If the property has been professionally marketed, the seller will gain an understanding of what the market is willing to pay for their property throughout the duration of the marketing period, enabling them to set a realistic reserve.

The knowledge is also critical to developing a strategy should any post-auction negotiations be necessary. From a buyers perspective, an auction also demonstrates the level of market demand for the property that they are pursuing.  
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