Why choose Auction?

Many home owners are finding auctions a great method of selling, as this sales method motivates buyers to make a decision to purchase in a set time frame and potentially achieve a premium result.

  • 1 November, 2014
  • Auction, Buying

The benefits of auction:

  • Offers vendors an opportunity of getting a cash, unconditional contract;
  • Sets a time frame for purchasers to organise their purchasing position;
  • Auction stimulates competition between buyers, and ensures the best price.
  • Allows the market to determine the true price of a property.
  • Auction makes a binding contract on the fall of the hammer. It’s so different from offering your property for sale by private treaty, when weeks of negotiations may result in a much lower price or the complete breakdown of the sale. With auction you sell on your terms without the buyer introducing unwanted conditions.
  • Even if the property does not sell on auction day, the agent will have three to four weeks of valuable feedback and buyer engagement to use when setting a price to take it to the market.

Properties with large buyer groups, development  opportunities, family homes, and anything the agent believes is going to have good competition, will be the best to take to Auction.

Additionally, a property that has a market value difficult to estimate, would be good to list and sell now.

LJ Hooker NZ

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