The Auction process has evolved from peoples natural instincts for competition It is without doubt one of the oldest methods of selling goods & real estate.
Auction is a powerful way of selling. It is a tried & tested listing, marketing & negotiation package
Auctions will normally give you “market value” which is why the courts recognise this method of sale for mortgagee in possession, divorce, public trustee; together with any other legal proceedings.
From the Agents/Sellers point of view; Auctions are a 3 phase process – Selling before Auction without a price – Selling on the day of Auction – Selling after the Auction with a price.
History tells agents the greatest opportunity to obtain the highest price is in the first 30 days, the Auction process allows this, but it also allows another opportunity, if not sold at Auction the property can be re-invented with a price for yet another 30 days. It makes sense in any market for a property to obtain market value.
