Opinion piece – Dan Sowden | Ray White Maroochydore Principal & Chief Auctioneer
As they say, “Patience is a virtue” and there is no exception when it comes to selling your home.
And while it’s no secret the current strength of the market means homes are selling faster than we can list them, those who remain patient and trust the auction process will most certainly be rewarded. In fact, taking your time and not accepting the first offer that comes along can mean tens of thousands of dollars more in your bank account.
Earlier this month, our Maroochydore office conducted three of the five scheduled auctions over the weekend (one sold prior and one was postponed to the following week), resulting in over $5.1 million in sales.
With a combined amount of $300,000 over the reserve prices, our clients who trusted the auction process walked away with a much healthier return.
Despite the fact that each of the respective sellers had plenty of opportunity to sell their home during the earlier weeks of the campaign, and while it can be tempting to accept what seems like a great offer at the beginning, not allowing the market to determine what your property is worth can cost you dearly.
A prime example of patience paying off is the recent sale of 32 Oyster Bank Road, Bli Bli. This stunning Queenslander on the riverfront was recently sold $2,835,000, with 8 bidders competing for the beautiful property.
Interestingly, the owners received a private offer of $2.5 million for their home just weeks before listing their property on the market, an offer they genuinely considered accepting at the time.
However, after meeting with one of our team and considering the strength of the market, they decided to invest in styling and marketing their home.
It was a decision that not only led to over 100 buyer inspections and a number 2 ranking on realestate.com.au nationally, but it also resulted in a sale price of more than $335,000 than the pre-auction offer. An outstanding result due to their patience and trust in the auction process.
There are many case studies just like this one. So before you decide to put your property on the market, make sure you have a chat to one of our friendly team, you may just be surprised at how much more you can achieve by investing the time and patience to take your property to auction.
Written by Dan Sowden