Why Auctions Work
"We believe that an auction is almost always the best proposition"
The basic advantage with an auction is the price of your property usually goes up. You as a vendor can sit back and watch buyers compete against each other rather than buyers compete directly with you.
Here are some of the key reasons we usually find that an auction delivers the best result:
1. Your reserve price remains confidential. However, subject to your approval a price range can be provided for advertising and editorial.
2. Auction sales are without any conditions. They are normally a cash sale.
3. The setting of a definite auction date means that you are more accurately able to plan the exact date of sale and settlement to suit your needs.
4. Inspection times can be carefully controlled eg by using ‘open house’ marketing techniques. This allows you to ensure the best possible presentation of your home and therefore a better selling price.
5. Competitive buyer bidding moves the price UPWARD. If your home has some advantages that could result in more than 1 buyer wanting it, this could mean a substantially higher final selling price.
6. Every part of the auction campaign is designed to stimulate and create buyer competition.
7. Auction advertising creates set time for decision by buyers. Naturally this leads to more buyers being introduced to your house.
8. You, as the vendor determine all conditions and terms of sale to suit your own plan
9. There is ‘NO COOLING OFF’ provision at auction.