Auction has fast become 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 30 days) have many regarding auctions as the most successful ‘non price’ method of selling.
The auction is designed to attract genuinely interested, cash-in-hand buyers. These buyers are focused only on establishing the maximum price they are prepared to pay not how low their offer should be. As motivation on the big day is often bolstered by emotional commitments towards purchasing this also strengthens the natural form of competition between buyers. The buyer’s fear that they have undervalued the property, and may loose out, often means that they will stray past their limit. Bidding for a house is action-packed and that’s all in your favour.
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.
While a price-marketed property offers buyers the opportunity to negotiate the purchase price, at auction they will be competing directly against other buyers. The purchase price is often a secondary issue compared with individual wants and needs, egos and emotions... and the competitive will to win.