"Many people are starting to ask me about Auctions, and what I am expecting to happen as the market changes. Particularly, if I will continue to sell homes at Auction as the market shifts. My answer? Absolutely."
At Place, we have been ambassadors of the Auction method since our doors opened. This has played a large part in our success and point of difference in our agents' sales skills when compared to others in Brisbane.
In the last two years, we have seen Auctions in Brisbane gain tremendous popularity and due to the market conditions, never-before-seen high clearance rates. While many agencies were happy to simply transact in this environment, we have taken the opportunity to innovate to create the ultimate Auction Day experience and train our agents in the craft.
With this in mind, the Auction method will remain our preferred method of sale moving forward. I’ve been Auctioning homes in Brisbane for 25 years, and wholeheartedly believe it is the most effective way to sell a home, regardless of market conditions. Here’s why.
A key benefit of Auctions that many overlook, is using an auction date to set a deadline. Some buyers will look to attend an Auction, some might look to pre-Auction offers. Regardless, the deadline helps position the campaign and create urgency. If the property is passed in, it provides very clear feedback for the agent to then work with the vendor and potential buyer in a post-Auction environment.
In recent weeks, there has no doubt been more properties passing in, yet we see them selling just days after the Auction as our agents negotiate with the interested parties, using the Auction pricing feedback as part of this process. The contract typically remains unconditional in nature, resulting in a simple process. Keeping in mind, most people would prefer to enter a 30-day, cash contract against a conditional contract.
Key feedback we gained over the last two years as Auctions became more common, was that buyers enjoyed the transparency of an Auction environment - I could not agree more. Auctions mean you are aware of how many other interested buyers there are as opposed to standard sales campaigns where discussions can happen behind closed doors.
Auction environments also naturally generate more competition, which cannot be dismissed. I cannot tell you how many times I have sold a home at Auction where we did not expect to. Remember, you only need one buyer. A good agent will always explore the limits of a conditional buyer and present all the options to their client.
So, if you’re worried about selling your property via an Auction campaign as the market shifts, don’t be. The key benefits work to your advantage as a buyer and seller in any market.
- Creates a deadline.
- Unconditional Contract.
- Transparent environment.
- Generates Competition.
Ultimately, the seller of the property needs to be comfortable with the chosen method of sale, but when working with Place you can be assured you have access to the knowledge of our agents and auctioneers for the entirety of the campaign.
A good agent will work with you to choose the right method for your circumstances in the current real estate market. If you want Brisbane’s most experienced Auction team guiding you through the process, there’s only one Place.