The Auction Advantage
Auction is one of the most preferred marketing strategies for Harcourts clients – with good reason. A positive statistical sale rate together with property being on the market for such a short time (on average less than 40 days) have many regarding auction as the most successful ‘non price’ method of selling.
The auction is also the least disruptive and intrusive method. Your home only needs to be opened at times that suit best and you remain in total control of the whole process. With assistance from your Harcourts consultant you’ll set the terms, conditions and auction deadline.The undisclosed minimum reserve price is set in consultation with your Consultant and Auctioneer . With your valued input, a professional marketing plan will be put in place to ensure your property gains the maximum profile within the first few weeks of market exposure.
With all this in place the excitement of the big day sometimes never eventuates. That’s because you always have the option to accept offers prior to auction.
Auction is Where the Action is!
Auction involves a short, intense marketing campaign of your house without a price. This is the best means of testing what buyers are prepared to pay for your property in the specified time. The advantages of the auction programme include.
High Profile Marketing
A greater response to a high profile, personalised marketing programme and therefore greater opportunity of attracting that one special buyer.
Auctions Build Excitement, Raise Interest
The excitement of a sale deadline on auction day, where bidders may compete against one another, creating a sense of urgency and ensuring that if there is a premium available in the marketplace, it is achieved.
You Are In Control of the Sales Process
Bids are made with no conditions attached. You are in control of the sales process by setting the viewing times, auction date and reserve price.
Removes the risk of discouraging buyers who are looking in a particular price bracket. Buyers buy on an emotional level and removing the price allows the buyer to commit to your property emotionally.
You will get the best price that buyers will pay, which may be higher than the price you expected to receive.
Three chances of selling; prior to auction day, ‘under the hammer’, or after auction day.
Auctioning your home is a particularly useful method of selling where the property is special, unique or difficult to accurately value, and if you have a specific time frame in which to sell your home.
- Auction properties are generally on the market for the shortest time (an average of 40 days)
- You set the conditions and are in complete control
- An auction date creates urgency and reason to act
- Cash sale – no subject-to-sale/finance uncertainty
- 10% deposit payable on the day of sale
- Buyer competing against buyer … not buyer negotiating against seller