The competitive atmosphere created at auction often means there's a better chance of achieving a higher than expected price. Auction also removes the pressure of setting a price before you have a sense of the market's response to your property.
A First National Real Estate auction will help you achieve your desired result - the optimal price in an acceptable time frame.
First National Real Estate’s skilful sales staff and auctioneers are well acquainted with the market and will recommend sale by auction, when appropriate.
There are three prime opportunities to achieve a sale during an auction campaign:
Sale before auction
Visibly competitive interest at open home inspections often encourages purchasers to make an offer prior to auction. First National Real Estate will always submit such offers for your consideration. As a vendor, you have the option accept an offer before auction and execute an immediate, unconditional sale. It is important to note that there's no obligation to accept an offer prior to auction - your agent will always advise you concerning strategy.
Sale at auction
Auction day is usually when your property will sell as the bidding creates competition, often inducing that ‘little bit more’ from buyers. First National Real Estate Auctioneers are adept at maintaining competitive momentum, until the highest possible bid is obtained.
In the event that bidding has been competitive, but the auction does not reach your reserve price, it may be considered that the market has indicated its view of your property's realistic value. However, sometimes a higher bid can be secured during post-auction negotiations. If that's not the case, your First National agent will discuss an appropriate pricing and post-auction marketing strategy to complete your sale.
To find out more about selling or bidding at auction, simply contact your closest First National Real Estate agent.