Exposure Pays Off For Auction

Rachel Kong of Ray White Lifestyle attributes the success of her auction at 2 Jib Street, Wurtulla, last weekend to the editorial exposure the property received in Property Week.

“It was a great editorial and the pictures looked fantastic. The five-week auction campaign with advertising in the Sunshine Coast Daily Property Week, coupled with the half-page editorial on auction day, contributed tremendously to the turnout and interest.”

Rachel said she had a turnout of 30 or more people and three registered bidders – all of whom had only seen the editorial that day and came through the property for the first time half an hour before auction.

“Plus I had five phone enquiries early Saturday morning. It just goes to show that with the auction process, anything can happen right up until the last minute. That is true testimony that ‘Property Week’ works.” The property passed in at $695,000. “We are currently negotiating with a number of interested parties post auction,” she confirmed.

Rachel said auction seemed to be a process more agents were using in the current market. “Most people put a lot of emphasis on the actual auction day when evaluating whether the process works. “However, it really is a three-step process and even though the success rate ‘under the hammer’ isn’t huge right now, we are finding most sellers who have enlisted a skilled agent, as well as the auction process, are achieving positive results in a much shorter timeframe than those listed for private treaty sale.”

Elections influence

THERE’S no doubt we will all be relieved when the airwaves and print media are cleared of electioneering and we can get on with our real lives, irrespective of which political party gets into power.

As we head towards August 21, real estate advertising will ebb and flow as some vendors and agents tend to shift their auctions to the weeks before and after Election Day. This is already starting to show with quite a number of properties coming before the auctioneer today and tomorrow, only a handful on Election Day and the day after, and returning again in full swing on August 28.

Going on past history, Election Day does not seem to affect the clearance rate of those properties that do go to auction on the day. What it does tend to do, however, is while there may be fewer properties listed for auction, some agents recall they get bigger numbers at open inspections as people are out to vote anyway so go looking at property as well.

Source: The Sunshine Coast Daily