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The word ‘auction’ derives from the Latin word ‘augere’ which means ‘to increase’. Dating back to Roman times, auction is one of the oldest methods of selling and yet today is the most advanced method of marketing real estate.
A greater response to a high profile, personalised marketing programme and therefore greater opportunity of attracting that one special buyer.
The excitement of a sale deadline on auction day, where bidders may compete against one another, creating a sense of urgency and ensuring that if there is a premium available in the marketplace, it is achieved.
Bids are made with no conditions attached. You are in control of the sales process by setting the viewing times, auction date and reserve price.
Removes the risk of discouraging buyers who are looking in a particular price bracket. Buyers buy on an emotional level and removing the price allows the buyer to commit to your property emotionally.
You will get the best price that buyers will pay, which may be higher than the price you expected to receive.
Three chances of selling; prior to auction day, ‘under the hammer’, or after auction day.
Auctioning your home is a particularly useful method of selling where the property is special, unique or difficult to accurately value, and if you have a specific time frame in which to sell your home.