Tuesday 30 Oct 2018
When you’re in the market to sell you property it’s important to consider all methods of sale. There are three main ways you can sell your property – selling by private treaty, selling by expressions of interest and or selling by auction. Whichever method you choose when selling your property it’s important to speak to your Collins Realty Group agent to understand which method is right for you.
Certain property types and areas will achieve better results depending on which method you take, so it’s important to speak to a professional and do your research before deciding on the method of sale.
So what is Selling by Auction?
An auction is a private sale, held at a set date and time in a specific location. Your real estate agent will market your property heavily in the weeks leading up to the auction to gather optimal crowds. A licensed real estate auctioneer will conduct the auction that is governed by a set of strict rules and regulations.
So why sell your property at by Auction?
Selling your property by auction creates a set of urgency amongst buyers, the buyers know that they can only buy during a definitive time. This means that authentic and interested buyer attending the auction will have to act immediately to secure the sale.
2. Reduced Days On Market
Selling your property via auction can help to reduce the days that the property stays on the market. You can specify with your Collins Realty Group Agent how long you would like to market the property for, and the date you would like to have your auction.
The urgency to make an offer then leads to the creation of a competitive environment. This environment is what we call a competitive bidding environment. This competitive environment has the ability to enhance home values as taking a home to auction can increase the number of buyers. Interested buyers at the auction that are placing bids within the competitive environment may stretch their budgets to achieve winning the auction and purchasing the home.
Who should I speak to about selling my property?
Our agents at Collins Realty Group are always happy to provide trusted and honest advice. Selling your property via Auction can be incredibly rewarding but you also need to know whether it’s the right option for you. Speak to one of our team members today about the best option for you.