To Auction or not to Auction? Property owners looking to sell and not wanting to be on the market for up to twelve months or longer, might like to consider the recent 69% clearance rates on auction properties in Brisbane.
In Sydney and Melbourne auctions have been well received and are considered the best and most time efficient way to sell propert,y as well as achieving the best price outcome for the owner.
Brisbane is fast catching up and “Auction Action” is now gradually becoming a regular part of the Range real estate scene.
The best time to put a property to auction is immediately it comes on the market without any previous price history and with no price set. This allows the market of the day to set the real value through competitive interest and/or bidding.
Many people feel that the auction day is the be all and end all of the auction process, and they have a fear of no one bidding or even turning up on the day.
Yes – it does happen and can be a little embarrassing to say the least!
However with a properly run auction program, successful results can be achieved before auction day, on the day or immediately after the day.
Another fear is losing control of the sale price, and just as with any method of selling, you as the owner, are always in control.
We recently had an auction on a property just south of Montville, no bidders on the day, but immediately after the auction, four buyers who had been introduced to the property during the lead up to auction day, plus one buyer who was introduced after auction day, began competing to buy the property – a total of five potential buyers!
As a result the reserve price was met within a week of auction day.
So – what initially looked like an unsuccessful auction day, became a good example of an auction program’s success.
Montville Real Estate
200 Main St, Montville
Phone 5478 5478
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