Black & Young Burleigh
3/53 James Street Burleigh Heads
07 5576 5500
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Property auctions are becoming more popular with home owners throughout Australia as a way of successfully marketing their home.
The growing popularity of property auctions is underlined by the fact that a large number of homes are now being auctioned in traditional mortgage belt suburbs rather than premium suburbs.
More sellers are adopting the auctioning system because there is defined marketing period for the home and this can be particularly important if they need to sell their home quickly.
Home auctions are particularly effective in a rising buoyant property market where prices are rising and there is greater competition amongst buyers.
A home auction forces interested buyers to make a decision rather than ‘sitting on the fence’.
At the same time, the buyers have confidence that they are paying the correct market price for a property because the can see the other buyers on auction day.
Anyone who is considering auctioning their home should consider a number of key points.
Firstly, they will be more successful if the auction is their first choice as a marketing tool rather than as a last resort after trying to sell the property by private treaty. If the property is exposed to the market over a long period of time through private treaty then it may have become ‘over exposed’ to home buyers.