Auction has been around for hundreds of years as a way of selling a variety of commodities.
When it comes to Real Estate and Chattels, Auction is gaining momentum as the preferred way to sell across Australasia. In some areas up to 80% of all properties sold have been sold by Auction. This is not true in the Toowoomba region but it certainly is a method that people are considering more and more.
If you should choose this method you need to understand that Auction is not just about the Auction Day. There are three stages of Auction.
Phase 1: Preparation stage, erecting auction signage, preparation of contract, professional photography, preparation of brochures/flyers and advertisements, Open Houses if required, and follow up with potential bidders
Phase 2: Auction Day, deadline for serious buyers.
Phase 3: Setting the price determined by the market from feedback during Phase 1 & 2 which applies to buyers who require conditions such as finance or building and pest.
Overall the main considerations of Auction are……
That it can attack the market, both in a Buyer’s market or a Seller’s market.
One of the main benefits of Auction is that it combines the benefits of No Price marketing in the first stage, the Auction, which puts the pressure on the buyers and then the Exclusive, correctly priced in the third stage.
If you'd like to discuss the potential for your property or Chattels for Auction feel free to contact the office on 0746 378 633.