Why Auction

Understanding the process and benefits

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The Auction process is all about selling a property in the shortest period of time for the best possible price. When there are multiple buyers and multiple bids, buyers want to compete for the opportunity to purchase the property. 

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The Auction process is not solely for the purpose of achieving better prices, it’s also about controlling

the process for the market based on a timeline of events.

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Benefits of selling at Auction are

Dramatically less days on market
Achieve a premium price for owners – great results
Transparency – conduct business in an open, professional environment
No ‘buyer’ conditions – that is, no building & pest clause, no finance clause, no cooling off period

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Auctions generate a strong sense of urgency amongst buyers. This sense of urgency is that there

is a set end date for the sale of the property. This compels buyers to make a decision on the day.

Competitive bidding amongst potential buyers at Auction means that the selling price often exceeds the value of the property and all contesting bidders can clearly see their own competition – all this maximises the sale price for the Seller.

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Reserve Price Protection

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The Auction process also provides the seller with protection by way of a reserve price. This means

the property will not sell unless the bidding amount reaches an agreed level between the seller

and the Auctioneer. Therefore, there is no ceiling price. The seller has the opportunity to achieve a price for their property well above normal expectations in a competitive bidding environment.