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Auction Q & A’s

7 May 2014 Albany 0 Comment

Prepared by Rob Mason, 2012 & 2013 REIWA Champion Auctioneer and Australasian Auctioneering Finalist

What are the advantages of selling by auction?

There are many. The obvious ones are:

What are the disadvantages of selling by auction?

If you ask me, most of the perceived disadvantages are really myths but here we go:

Do auction sales only suit certain types of properties?

No, I don’t believe so. I have auctioned all types of properties with all sorts of results. However, some properties maybe more obvious ones to take to auction.

If so, what properties do they suit and what do they not suit and why?

Really any property that is likely to attract any competition is suitable. The most obvious ones are those in the higher price brackets (more cash buyers), very unique properties (harder to price and often highly sought after), and those in highly desirable locations (more buyers). Other considerations that are positive signs for an auction include – a buoyant market, a fairly relaxed financing environment, and the Seller’s situation may mean that a short campaign and unconditional sale is desirable.

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