
Buyers
are ready to buy
You will also have
people at an auction who are just there to watch proceedings, such as your
friends, family and neighbours, but an auction will attract genuine people who
are ready to buy. They will have
organised their finance and will know exactly what they have to spend. An auction eliminates the 'tyre-kickers' as
those who are bidding will be ready to buy. You will also get those who are
looking for investment property
Sydney.
Sell
it fast
An auction is a
good way to sell your home quickly, unless of course it doesn't meet the
reserve price and it is passed in. An
auction date will be set and potential buyers know they have up until that time
to look through the property, so rather than leaving it until too late they
will get themselves organised before the auction.
Sold
at market value
An auction will
mean that your property is sold for a true representation of its market
value. The market is influenced by a
number of things, such as the number of available buyers, the current economic
climate and the value of homes in your area.
The price the auction goes to is a good representation of all these
factors.
High
level of exposure
By having an
auction your home will receive a high level of exposure as the real estate
agent must advertise well enough to bring your property to the attention of the
buyers.
Competition
increases the price
The amount of
competition at an auction can vary. It
will depend on how many people are interested in your home, what the economy is
like and whether the housing market is currently stable. There may be several people interested in
your home but don't be discouraged if there aren't many at your auction. It only takes two people who really want your
property to start a bidding war and you are away.
Reduces
the amount of open house visits
The frustrating
thing about selling your home can be the amount of open house inspections that
you have to have, which is usually every weekend until it sells. You can also have the real estate agent
ringing you at odd times saying they have someone who wants to look through the
house, which means you need to tidy up and make it perfect for potential
buyers. It can be stressful time. With an auction people will need to come and
see the house but at least there is a set date by which these visits must stop.
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