The auction method is recommended:
- Where the aim is to achieve a premium price.
- When it is important to have a set time frame to work with.
- Where the client is comfortable using market demand to help achieve the price.
- For any property in any market where the client is committed to sell.
Marketing without a price
- A premium price comes from competition between buyers. The more buyers, the more competition, the higher the price.
- With price removed, enquiries are higher and increase the opportunity of revealing the premium buyer.
Selling at auction
Absence of price reduces the risk of it being rejected on price.
Auctions are highly focused marketing campaigns designed to expose your property to the maximum number of buyers, maximise your sale price and minimise the number of days your property is on the market.
Your property is put up for sale on a specified date and this is preceded by a high impact marketing campaign and selected ‘open days’ all of which indicate your commitment to selling.
Auctions are a well-established and proven practice for selling real estate.
Potential buyers are in one place at one time with a strong desire to purchase on the day
Competitive bidding means there is no price barrier
A definite unconditional sale is made under the hammer, assuming the reserve price is reached. • A set date of sale encourages potential buyers to act quickly.
The auctioneer is a professional negotiator, that undergoes extensive training, backed by a brand with over 115 years of experience.
You have the right to set the reserve price, below which the auctioneer is not permitted to sell, this gives you greater control.
By running an extensive marketing campaign, you have more opportunity to achieve the best possible sale price in the market.
Excerpt from Ray White Listing Kit