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Selling Property By Auction

The benefits of selling a property via auction as opposed to the traditional methods.

Posted: 13 August 2019

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:

AUCTION

TRADITIONAL ESTATE AGENCY

No commission payable by the seller

Seller pays commission

Property aggressively marketed

Minimal marketing campaign

Offers received are unconditional with 15% upfront deposit

Offers received are suspensive with little or no deposit payable upfront

Properties can be sold within 21 days

Can take months to sell a property

Buyers compete for your property, pushing up price

Buyers do not compete with each other effectively and buyers negotiate downwards

View by appointment

Showdays

 

 

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

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