When it comes to selling your house, we know getting the very best price with the least stress is your top priority. Auctions are often the best way to achieve this, as well as offering several other benefits for sellers too. Read on to find out why going under the hammer will likely work for you.
Auctions get maximum exposure for your property in a short period of time with a structured, intensive marketing campaign over a few key weeks. This approach not only creates a sense of urgency for buyers, but has the added advantage of meaning you won’t have to keep your house clean for months of open homes or agent visits, and you have a defined timeline to plan around.
- The market decides the price
Rather than guessing at the value of your home, and potentially placing a ceiling on what people will pay for it, auctions allow buyers to decide for themselves what a property is worth. This means you get a true market value for your home if it sells at auction.
A property is worth what any one party is prepared to pay for it, so creating fair competition for your home can push buyers to truly consider their top price come auction day, and may result in you getting more than expected when the hammer finally comes down.
- Signed, sealed, delivered
An auction sale is an unconditional sale, which means that once your home passes the reserve (set by you) and the auctioneer declares it sold, you can sign the paperwork and know the deal is done. This eliminates drawn-out contract negotiations, and is often the best option for anyone needing quick settlement terms for another purchase.
- Passed in, but not passed on
If your home is ‘passed in’, meaning it doesn’t sell at auction, the intense interest and buyer activity generated in the lead-up to the auction means you usually have an increased chance of selling the home at a negotiated price to interested parties. Your real estate agent will already know who is genuinely interested in the property and can deal direct with them to see if an agreement can be reached.