Love it or hate it, sale by auction is the most successful method of sale used throughout Australasia with a 90% plus success rate measured over the length of the campaign which encompasses sales concluded before Auction, at Auction and after Auction. Auction employs 4 key strategies that underpin its success being;
- URGENCY - it creates urgency in a buyers decision by having a pre-set 'sale date'
- NO PRICE - the biggest barrier to purchase is always price and so Auction eliminates price marketing;
- MARKETING - your home is put on a pedestal with an elevated marketing campaign to find and attract more interest;
- COMPETITION - Auction puts buyers in competition with each other which forces the price up.
This is the most common form of Agency entered into with your Real Estate Agent where that single Agency holds the exclusive rights to market and sell your home over an agreed period of time. This exclusivity allows the respective Agent to commit totally to the process and the relationship with you without the fear of doing a considerable amount of work, an undergoing expenditure, that could go unpaid if another agent (open agency appointment) sells the property.