Selling by auction is the preferred option for many people. This is because your property is usually on the market for a shorter time, and has the highest sales rate. An auction with an adequate marketing campaign and good buyer interest can exceed owner’s expectations.
An intensive, high profile auction marketing programme attracts genuinely interested, cash-in-hand buyers. These buyers are focused on the maximum price they’ll pay, not how low their offer should be.
Selling your property at auction gives you all of the control. A 4 week marketing campaign gives the buyers a sense of urgency and auction day brings negotiations to a head. When you sell by auction you receive enquiries from people who are thinking of buying later in the year, or in a year’s time.
Because of the sense of urgency created by auction, they will often decide to buy straight away if the property suits them. This is particularly true of people who do not read ordinary ‘for sale’ advertisements - however they do notice pictorial advertising.
An auction creates excitement - people talk about it, and word-of-mouth adverting becomes a large factor in your campaign, particularly in business circles. There is no doubting the old saying, “Auction brings Action.” Following up and providing service to potential buyers are the most important prerequisites of a successful auction marketing programme.
The auctioneer and your listing consultant will discuss with you a reasonable reserve price to ensure you get the return you expect, this reserve will not be revealed to the buyers.
The current fast-paced market, driven by strong demand and combined with the excitement of the competition on the big day, helps establish the highest possible price on the day.
You will be fully supported in setting the terms, conditions and auction day deadline. You will also appreciate that the property only needs to be opened for buyer viewing at times that best suit you. For these reasons, the auction process is regarded as the least disruptive method of selling.
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