Auctions: “Do it. Better results, quicker turnaround.”

Ray White Cherrybrook I Thornleigh I West Pennant Hills Director Dion Verzeletti knows what it takes to get a great auction result for vendors – his $1,553,000 ($53,000 over reserve) sale of 7 Penrose Avenue in Cherrybrook an example of this – but as an agent, why auction?

“There are positives for owners and agents that undeniably allow the best outcome,” he said.

“Not only does it take the price out of the equation and put competition at play, but it has a deadline to it and ensures it’s sold unconditionally.

“Even when clearance rates were at 40 per cent you still have a 40 per cent chance of selling unconditionally within 24 days. A buyer’s greatest fear is the fear of loss, give them a deadline and they’ll work to it if they really want it.

“Two, four, six and eight on the same street in the same complex at the same time hit the market (over a three-week spread).

“We listed two, four, and eight for auction. Two of those sold prior and one sold four days after the auction. Number six was listed with another agency and is still on the market currently after 90 days.

“Auctions? Do it. Better results, quicker turnaround, a better opportunity to be able to list and sell more... commission, sold signs, more happy buyers and sellers.”