Blog
Selling Property By Auction
The benefits of selling a property via auction as opposed to the traditional methods.
Auction is considered to be a mainstream sales platform in first world countries, such as in Australia where nearly 85% of second-hand residential properties are traded on the auction floor, or in the USA where an auction company can sell up to 5000 properties on a single day.
The benefits of selling a property via auction as opposed to the traditional methods:
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AUCTION
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TRADITIONAL ESTATE AGENCY
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No commission payable by the seller
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Seller pays commission
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Property aggressively marketed
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Minimal marketing campaign
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Offers received are unconditional with 15% upfront deposit
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Offers received are suspensive with little or no deposit payable upfront
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Properties can be sold within 21 days
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Can take months to sell a property
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Buyers compete for your property, pushing up price
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Buyers do not compete with each other effectively and buyers negotiate downwards
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View by appointment
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Showdays
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As can be seen above, there are numerous advantages of selling a property via auction as opposed to pursuing traditional sales methods. When selecting an auction company to sell your property on auction, ensure that a reputable company with sufficient experience is used.
Source: Ari Ben