WHY SELL AT AUCTION?

As we approach the Ray White Commercial Auction Showcase on November 14th, it’s a great time to consider why the auction method is such a valuable approach in real estate. “The auction method presents a unique opportunity for vendors, creating a platform to maximise interest and encourage competitive bidding. By removing price constraints, auctions attract a broad audience, allowing us to deliver outstanding results for our clients. Here are four key reasons why auctions are a powerful way to bring a property to market and achieve optimal outcomes:

1. The benefits of no price
There is often an emotional attachment between vendors and buyers and the property. Price clouds judgment and allows people to disregard properties based on numbers alone. Properties sold at auction have no concrete final price assigned to them, and this unique characteristic pushes the buyer to engage more actively with the agent. This dynamic creates essential competition, which leads to solid results. If the interested party likes the property enough, they will participate.

2. Achieving a premium result

Auctions allow you to chase a result rather than a sale. We must create an environment where the owner can maximize their price. Experiences auction agents cultivate buyer interest and ensure intense competition, with the assurance that we have done everything to achieve the highest possible price for your asset.

3. Auctions work in any market

Auctions are transparent and energetic, as opposed to negotiating behind closed doors. There’s no better way to create lively competition than at an auction. When buyers can see each other, it can get tense, but it’s always exciting.

4. Marketing is the cheapest form of insurance

The right marketing campaign is of crucial importance. An auction campaign works best with a solid cross-media marketing campaign. Print and digital media marketing play critical roles in an effective marketing campaign, as print creates messages and lasting impressions deep in emotion. In contrast, digital marketing is easily accessible and has a broad audience reach.