For sellers and buyers, auctions offer greater transparency throughout the process than almost any other selling method.
Those selling using the Auction method get to enjoy a high profile marketing campaign resulting in:
- Property may sell before, during and after the auction
- You find your buyer quickly because auctions create a sense of urgency
- Sellers get to see exactly what people are prepared to pay, not how little they are prepared to pay
- The selling period is finite
- Sellers know they have unconditional cash buyers
- You know purchasers are genuine
- Unlike the private treaty/fixed price process, auctions avoid having to put an arbitrary figure on a home which may deter potential buyers
Buyers also benefit from the auction process.
- Buyers know the vendor, who has already invested in a marketing campaign, is committed to selling
- Buyers can see the other bidders and know what they are up against
- There is a realistic timeframe in which to organize finance, inspections and other related matters
- When standing with other bidders, it verifies you are paying market value
- You are an integral part of the whole process and get to see the process in a fully transparent manner so you can make your own decisions on how to proceed each step of the way.