Jun 21, 2012

Benefits of Selling Your Home at Auction

There are many benefits to selling your home at auction, one of them being that you can possibly get a much higher selling price for your home if there is a lot of interest in your property.  In regards to making the decision to either sell your home through an agent or go to auction you can seek the advice of the real estate agent, talk to your family or enlist the help of conveyancing services.  There will be a conveyancing fee but it is worthwhile getting their help in this important process and will attract owner occupiers as well as people wanting investment property in Sydney.

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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