Every serious seller will ponder this question at some point during their selling period; either prior to putting their property on the market or after it has been on the market for sometime in the hope to achieve a sale as situations change.
In consideration, most sellers will research local auction results to get a feel for the market as well as considering the upside to the ‘No Price’ marketing process- which there is many by the way. However it is my opinion that although this research is good and important, it doesn’t completely answer the question of “Should I auction or not?”. In most cases too little consideration is given to the agent and agency who is looking handle the process, an auction campaign is not as simple as ‘placing a sign on the property’.
Unfortunately it is common belief that every real estate business is proficient with both the marketing and handling of an Auction campaign, this is not the case. Everyday property agents are sitting down with sellers outlining a proposed auction campaign in the hope of selling the property even without this expertise or experience.
The reality of the current market is that serious sellers considering the auction process need to be dealing with a serious Auction proficient agency.
In the calendar year of 2010, our Group of Ray White Business conducted over 500 onsite property auctions in conjunction with over 1000 auction based skill and training session for all our agents.
Should we go to Auction? You need to be the judge, but first judge your agents ability and track record around the Auction Process.
Principal | Auctioneer | Ray White Maroochydore