Why go to auction?

The benefits of no price

There’s an emotional attachment between the vendor/buyer and the property - price is the pin that bursts the emotional bubble! Price clouds judgement and allows people to disregard properties based on price alone. No price pushes the buyer to engage with the agent and creates competition. If they like the property enough – they will pick up the phone.

Achieving the maximum price

Auctions allow you to chase a result, rather than a sale. We must create an environment where the owner can maximize their price. Agents should create interest from buyers and ensure there’s competition, as vendors need to feel we have done everything to achieve the highest possible price.

Ability for agents to adapt to market changes

We must have an inherent belief that we can sell a property in any market condition. The same clearance rates are possible as long as we adapt to the market state. In softer markets, it’s the relationship between you and the owner that creates the sale. More detailed, intimate and trusting relationships are required.

Why auctions work in any market

Auctions are transparent, as opposed to negotiating behind closed doors, like private treaty. There’s no better way to create competition than at an auction. When buyers can see each other. It's uncomfortable. Buyers are confronted with the fear of missing out, which pushes the price up.

Marketing is the cheapest form of insurance

Understanding the importance of producing the right marketing campaign is key. Auctions without marketing do not set you up with the opportunity for maximum price. Strong agents will say “you have to do it all,” as it gives the best opportunity for success. The auction campaign only works with a strong cross-media marketing campaign. Print and digital media marketing both play critical roles in a marketing campaign. The marketing reach is broad through digital, but also deep in emotion through print.

So what are you waiting for?