Your Complete Guide to Selling at Auction 4 The auctionmethod of sale provides sellers with the greatest opportunity to obtain a premiumprice for their property. An auction campaign also adds structure to the property listing and sale process, and is regarded as themost effective way of marketing property for sale. Here are some other benefits of selling at auction: • Selling a property unconditionally andwith certainty is a very valuable outcome for a seller • Premiumprices aremore achievable via auction • Auction pits buyer against buyer, forcing the price upwards... not buyer versus seller, where negotiations go in the opposite direction • When you sell by auction, you deal with premium buyers in themarketplace – those with cash • You don’t just get one sales consultant working for you – you have the Harcourtsmanager, auctioneer and a whole auction teamdedicated to achieving the best result for you • The seller remains in complete control. You set the terms and conditions, and you don’t sell until you are satisfiedwith the result • An auction campaign occurs in an intensive, compact period. You can achieve in three weeks what can sometimes take threemonths. THEBENEFITSOF SELLINGATAUCTION Should an auction listing not sell during the auction campaign, the chances of selling the property soon after are dramatically increased because of the enhanced amount of buyer enquiry that’s generated throughmarketing for sale by auction. In addition to the benefits of being an ‘exclusive agency’, auctions havemany other advantages, such as: • It allows sellers to plan ahead in the knowledge that a specific date has been set for the sale of the property • A sale by auction is unconditional and allows the transaction to proceed to settlement without delays • A successful purchase requires the payment of a deposit on the day of auction. Market feedback will assist the seller’s decision on a reserve price, whilst still allowing for the possibility of achieving a premium through buyer competition • The seller always has the option to accept an offer prior to auction, if a desirable offer is received • Prospective buyers will be focused on establishing themaximumprice they will pay, not how little they should offer.
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