Last weekend, we had the unique experience of standing in the shoes of a buyer at a property auction. The energy was electric, and as bids were called, it became clear that multiple buyers were vying for the property. We bid confidently, but ultimately, the home sold to another bidder at a level beyond our reach. Despite not securing the property, we left with peace of mind, thanks to the transparency of the auction – we knew exactly where the price landed and felt assured that we had the opportunity to stretch to our limit without any lingering doubts.
This transparency for both buyers and sellers is just one of the key reasons we recommend auctions.
Other reasons to consider the Auction method of sale is that Auctions provide a process of exposure of the property to the market over a number of weeks and three distinct opportunities to maximise your sale price:
- Prior to Auction: Often, buyers eager to avoid competition will present strong offers before the auction day, aiming to secure the property early.
- Under the Hammer: Auction Day brings cash, unconditional bids from motivated buyers who are ready to make decisive moves in a transparent and competitive setting on agreed published terms.
- Post-Auction: If the auction doesn’t deliver the cash result we’re aiming for, it’s not the end—it’s the start of strategic post-auction negotiations and an opportunity to introduce new buyers. Buyers who have shown serious interest are still often engaged, new buyers who may be conditional on finance or the sale of another property often come forward, with a sale usually secured within two weeks of the Auction.
At White House, in recent weeks, we had two properties pass in at Auction. Within days both properties’ owners secured excellent offers on the properties. In one case, the highest bidder substantially increased their offer to secure the property; in the other case, the owners received multiple offers post Auction and accepted a strong conditional offer.
On Saturday 16th November (tomorrow) we will be taking 5 Rochfort Street, Fremantle to Auction at 11:30am. If you are curious to see an Auction in action (or looking to purchase a great property!) this might be a great opportunity to experience the Auction process.
We have also just launched the exceptional beachside home at 53 Breaksea Drive, North Coogee to market, with the property scheduled for Auction on 30 November.
While the vast majority of our listings are marketed by private treaty, Auction is simply another method of sale that may be worth exploring if you are thinking of selling.
And if you are considering selling, there’s still time to list and launch your property before Christmas. If you are thinking of selling in the New Year, now is the perfect time to start the conversation.
We’d love to discuss how we can help you maximise your sale price now or in the future. Please reach out anytime for a conversation tailored to your needs.
