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Why is auction still the best way to sell your property?
We better start with a disclaimer here. This is a generalisation. Every home and set of needs are different, so this isn't always the case. But, we continue to find that auctions are delivering great results for our customers. So, we thought we'd tell you why we love auctions and continue to recommend them to our valued customers.
What Is An Auction?
Believe it or not, auctions are one of the oldest and most successful methods of property sale. Most people judge the success or failure of an auction by what happens on auction day. In reality, an auction is a process.
At EVES our auctions are a carefully planned three phase process:
Phase one - High profile marketing campaign.
This is where we make as many of the right buyers as possible aware that a property is for sale. This phase helps us identify prospective purchasers. We then work with them to achieve a cash unconditional sale on or before auction day. During this period we also gather as much information as possible from the market so owners can make informed decisions about their sale.
Phase two - Auction day.
This is where we give cash buyers the opportunity to compete and buy the property at the same time.
Phase three - Post auction marketing.
If we can't complete a sale on auction day we move to this phase. This is where we continue the conversation with all those cash buyers interested in the property during phase one. We also include any buyers in a conditional position who were unable to compete on a cash basis on auction day.
With all the market intelligence gained, sellers are now in a great position to make the best decision about any offers presented.
Why Sell By Auction?
Some people have the perception that the pressure of an auction encourages owners to accept a lower price. We say, when you receive an offer you should ask yourself, "Does this offer allow us to achieve what we want to achieve?" If your answer is "Yes", then you should Sell! If it is "No", then as long as you are happy to continue as the owners of the property, so be it.
Why Buy At Auction?
Buying at auction is the most transparent way to buy a property when there is competition. Any other situation where two or more parties want to buy the same property follows a multiple offer procedure. This means, neither party has knowledge of the others intentions. An auction is an open transparent forum where each buyer can see and/or hear what the others are doing.
If you want to know more about our auction process and how it can help you get the results you need, call one of our EVES Rotorua team on 07 348 0819
or visit us at www.eves.co.nz.