Selling your home can be a huge decision and require a lot of work. When you are selling your house you’re probably worried about whether or not you’re going to get the price you want for it. There are some huge advantages to selling at auction.
One of the major things to know when you sell your house at auction is that selling at auction gives prospective buyers an end date. That can create a sense of urgency, which ultimately leads to a fear of missing out. When there’s a limited time that the product – in this case your home, is going to be on sale, the interest is likely to be greater. It’s basic economics of supply and demand.
Selling at auction means the price is more in your court. Only you know what you want to get for the property. There’s more chance of getting a higher rate at auction because like all sales techniques, you haven’t revealed your bottom line. Consumers are left to offer what they personally believe your property is worth. You do of course have the choice of whether or not you sell at private treaty however auction creates enthusiasm and makes the process more transparent. When you’re at an auction you know everyone else’s offers. You don’t with a private treaty.
Unlike with private treaty, you can be sure that the finance will be organised prior to the auction. Most auction bids are unconditional, so it would be rather embarrassing and costly, if anyone turned up to the auction and bid without having the funds available to purchase your home.
These are just a few of the reasons why you should sell your property at auction. There are of course many, many more. One of the biggest drawcards is that you know that you are getting the best price on the day and that everyone interested in buying your property, with the means to do so, is at the auction. There will be no wondering if you could have sold your property for more.