Doing deals is what we do best live or online
SELLING by AUCTION
Auctions are an exciting way to sell property.
LIVE SALES EVENT
An auction is one of the oldest ways to sell anything with an immediate outcome. Its a special event on many levels for any seller of property. Really life changing when it all goes to plan for a successful outcome. It includes public promotion of the property for a live sales presentation on a set date. Creative campaign to capture as many buyers genuinely willing to attend the day/night to bid with the highest bid/offer wins the purchase. A benchmark reserve price is set or agreed prior to auction with agent/auctioneer when achieved any bid above property will be sold.
The excitement for the bidders in the action of auction is magnetic or electrifying. The process really gets the buyers to become competitive in the bidding process along with getting caught up in the moment. Its the magic of the live event negotiating in public by open bidding. At the end of the auction its especially satisfying for the successful buyers who get the green light as the winners of the biding. There is something special about the Auction Event with all that happens, the expectation, the process, the outcome. The best Auctions are either live in home/venue with a personal interaction mixed with multi media, online, on the phone interaction. Not missing any person, personality or preferred method of purchasing. The ultimate control is by the Auction Company & Team that is running the event for a successful outcome.
AUCTION YES or NO
There is always discussion on Auction versus Private Treaty or Set Date Sales in West Australia as a method of marketing, managing the sales process. How to get the most money in the shortest timeframe with the most effective investment of money, effort & less stress. Auctions is a way of selling that has been used since the beginning of time. If the property is of interest to the general public, it is promoted properly, buyers will show up for the opportunity to bid. Proactive, interactive live selling is a reality with an outcome that’s immediate. Any property no matter what the price point comes down to authentication of value. A comprehensive analysis of property condition, presentation, price strategies to get the market to respond, engage, bid to buy is under the magnifying glass for auction. There is nowhere to hide, no excuses on auction day. It’s an art of marketing & management for a sales event outcome of a lifetime. If there is not a satisfactory result on the date of auction the property marketing continues as a normal sale by private treaty anyway. Who dares can win..
Nationwide thousands of auctions are held weekly depending upon the market conditions, time of year, economic influences. The east coast leads the charge with WEEKLY – Melbourne 1000-1500, Sydney 800-1000, Adelaide 100-200, Canberra 100, Brisbane 200+ with Perth WA around 20 per week. Each city in the streets, around the suburbs is literally a live market place in property sales every weekend + week nights.
Western Australia would process 1000 auctions in a year along with online negotiations. Reasons behind this is the Private Treaty contracts are different in WA to the east coast which are not as air tight with sunset clauses + finance clause differences. WA + SA contracts with Offer & Acceptances agreements that are the worlds best as straight forward, simple, effective contracts with efficient settlement arrangements. But Private Treaty commonly can be open ended in time frame leading to time lagging sales, reductions in initial asking prices & loss of urgency lengthy potentially costly outcomes in the process.
Over the last year with COVID people connecting in person it has being of massive disruption to face to face dealings, remote communications along with the modernizing of the real estate transaction process to a digital facility has changed everything. It is now a more immediate, simpler system when selling & buying property. Docusign digital in association with Real Estate Institute WA Real Forms, it allows from the listing to the sale documentation processing from phone, hand set, tablet or laptop.
Its an ability to access legal documents, information in written digital form, signed agreements for all property transactions. Online auctions have become popular along with sales by video, so the buyers can be apart of the sales event from wherever they choose. Its safe, secure, several technologies available but managed & marketed in the same manner as a live on site
The Auction is a process
Many home sellers get worked up about auction day, and while it can certainly be an emotional event, it’s actually the four weeks prior to the ‘big day’ that really count. An analogy that springs to mind is that when you invest in the share market, you can use daily / weekly / monthly analysis of performance and trends for your share portfolio to guide your investment decisions. In the same vein, when you’re selling your home you should be getting detailed information and feedback every other day until auction day available on demand. Receiving this information helps you to make well informed decisions leading into and on auction day.
MRES applies a reporting procedure with planned communication as a disciplined campaign for seller feedback. This is to making seller more comfortable with knowing what is going on along with preparing to make wise decisions for many thousands more come sale time.
As an experienced advertising, marketing agency deliver an exciting campaign, along with advice for presentation of property, plus how to run the special sales event on the day live or digital for the best outcomes. Many vendors mistakenly focus on reduction of costs lowering the level of quality Auctioneer Agent, along with campaign limitations on reach, exposure, market awareness. Savvy sellers know that investment in the presentation of a property will undoubtedly returns premium price with the ultimate buyers stepping up to bid.
Interestingly in all markets as Auction property will sell quicker, plus if not more than a property sold in a traditional List & Sell with unlimited Home Opens.
Sell by Private Treaty averages around 70 days, Sale by Auction under 45 days with 80% withing 30 days!
Buyers are able to bid in multiple ways in this current market of property purchasing. Since the COVID era online dealings has become a much more accepted process for handling the buying & selling activity. Once a buyer is registered, they can bid on site at the property in person or online which is a common situation in auctions. Communications allows remote access, inter state & international participation. This is an exciting time to sell property as it has become a truly acting local thinking global reality.
MRES is the only company in Perth West Australia that will provide a FREE AUCTIONEER upon the fall of the hammer! YES YOU READ THAT RIGHT …. FREE AUCTIONEER SERVICES UPON ANY PROPERTY SOLD by MRES in an Auction campaign.
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PO Box 369 Scarborough
Sunset Coast 6019 WA
Lic. RA 76396