AUCTIONING YOUR PROPERTY
Selling by Auction
What's in it for you?
Auction is one of the oldest methods of marketing, dating back to Roman times, and is a very important method of sale. A well-run auction programme may take more time and effort for your consultant but will ensure that the property gets the maximum exposure. Auction is a method of sale where there is a real opportunity for you to get more for your home than you expect.
You set a deadline for the sale of your home. This creates a sense of urgency among buyers and sales consultants alike. It also allows you to plan ahead in the knowledge that a definite date has been set for the sale of your home.
A three-stage selling process: Auction is one of the few methods of sale where you get, not one, but three opportunities to sell your property.
Stage One In the lead-up period high profile Auction marketing will highlight your property, producing the greatest exposure when enquiries are likely to be at the highest level.
Stage Two The Auction is the shortest part of the process but it is the best opportunity to stimulate competition. Because most people think in a range of values, rather than a specific figure, this is the time when a potential purchaser is most likely to stretch to the upper range of values to secure your property and, thereby produce the highest possible selling price for you.
Stage Three Some people believe that if your property has not sold by this stage of the Auction process then the system has failed. Not so. Stage three can produce a whole new range of buyers, those who may need to sell another property or arrange finance before they can commit themselves unconditionally.