Why auction?
Each client’s circumstances and goals are unique, but we find that as a general trend – most of our owners are aiming to achieve the best possible price for their property and to complete the process in as timely a manner as possible. This is what an auction delivers.
By creating a deadline and requiring buyers to bid unconditionally, we uncover the most serious buyers in the marketplace. We then bring these buyers together in a transparent and competitive environment, where ‘fear of loss’ competition, and the negotiation skills of a professional auctioneer can all come together. It is our belief that this is the best way to truly ascertain what a buyer is prepared to pay.
After 30 days on the market, properties which have gone to auction are 102% more likely to have unconditionally sold than those marketed using other methods of sales. At 90 days on market, a property is still 43%* more likely to have sold if the marketing campaign originally involved an auction than if it started with other methods of sale.
Source: Bayleys sales April 2023 - September 2023
Benefits of auction
The auction process creates a competitive environment like no other to reveal true market value, whilst ensuring transparency and an even playing field for all parties.
Benefits of auction
The auction process creates a competitive environment like no other to reveal true market value, whilst ensuring transparency and an even playing field for all parties.
Competition
The auction process creates a competitive environment like no other to reveal true market value, whilst ensuring transparency and an even playing field for all parties.
Transparency
During the auction process all parties are aware of live bidding levels which ultimately helps to deliver fair market value.
Urgency
By implementing a deadline, serious buyers are encouraged to take action for desirable properties.
Opportunity
Before the auction takes place you may consider offers and set the reserve price.
Fair and equal
When participating in an auction conducted by Bayleys, everyone is on a level playing field. In an auction arena, everyone is participating according to the same terms, understanding the sale and purchase agreement and its contents.
No limits
By not setting a price during the marketing campaign you aren’t limited to an asking price that may be too high or too low, this ultimately attracts a wider buyer pool.