Why sell at auction and what to expect if you do

Sep 4, 2023 | by DiJones

Selling your home is one of the biggest financial decisions you’ll ever make, so it’s crucial to choose the right method to maximize your sale price and achieve your goals. One popular option for vendors is selling by auction. In this blog post, we’ll take a look at why you might consider selling by auction and how to ensure a successful campaign.

Why choose to sell by auction?

One of the main advantages of selling by auction is that it creates a sense of urgency and competition among buyers. The auction process is a transparent and fair way to sell your home, and it encourages buyers to make their best offers on the day. This can result in a higher sale price than you might achieve through private treaty negotiations.

Another benefit of selling by auction is that it puts you in control of the sale process. You set the reserve price and can discuss your terms with your agent, giving you more control over the outcome and allowing you to tailor the campaign and sale to your needs.

Finally, selling by auction can be a quick and efficient way to sell your home. The auction process typically runs for four to six weeks, and you’ll have a definite sale date at the end of the campaign. This can help to reduce the stress and uncertainty that often comes with selling a property.

Trust your agent!

To ensure a successful auction campaign, it’s essential to trust your agent. After all, they are there to guide you through the sale process, and they have all the expertise and experience to help you achieve the best possible outcome.

It’s imperative to listen closely to your agent’s advice on pricing, presentation, and marketing. They have access to market data and insights that will help you make informed decisions about your sale. They can also help you to prepare your home for sale and create an on-point marketing campaign that truly engages prospective buyers.

Importantly, your agent will be able to provide you with a carefully researched price guide to attract the maximum number of prospective buyers and drive their interest throughout the campaign. This will foster a healthy sense of competition at the auction itself and ultimately push buyer performance, maximising the chances of a fantastic sale. 

Listen to the market during the campaign

Throughout the campaign, potential buyers will almost always give your agent feedback on your property. Listening to the market carefully means that with your agent’s guidance, you can adjust your strategies to ensure that buyer engagement remains high throughout the campaign and on auction day. 

Being open to constructive feedback from potential buyers during inspections can also contribute to a successful sale. Take note of any comments, questions and suggestions and use them to improve the presentation of your home to create a really positive impression and further increase your chances of achieving a spectacular sale.

A small degree of flexibility can go a long way when it comes to selling your home!

Summing up

Selling by auction is definitely a great option for vendors who want to maximize their sale price and achieve a quick and efficient sale. 
It’s really worth having the support and expertise of top-performing agent to guide you through the process and help you strategize effectively to maximise buyer engagement and ensure a great auction result. 

By trusting your agent and responding to campaign feedback you will be setting yourself up for success on auction day, and you’ll be able to move on to your next property adventure with well-earned confidence.


Other buying, selling and investing articles and resources 

Guide to property investment success in NSW

Selling a house or apartment in NSW eBook

Buying a house or apartment in NSW eBook

Property investment in NSW FAQ’s

What is a property cycle and what drives a change? 

DiJones Real Estate, together with their directors, officers, employees and agents have used their best endeavours to ensure the information passed on in this document is accurate. However, you must make your own enquiries in relation to the information contained in this document and seek advice from your financial advisor, broker or accountant to ascertain its application to your circumstances.

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