Selling With Auction
Thursday 18 April 2019
Summit’s auction marketing programme is the preferred option for many sellers and achieves one of the highest success rates in the industry. The auction method is suited to all properties especially those with unique features, a sought-after location and situations of high buyer demand. Through buyers actively bidding and openly competing, Summit has produced some fantastic auction sales with prices well over the vendor’s expectations.
Auction enables you to find out the price that the market puts on your property. Compare this with private treaty where your price may be so high that no one will make an offer, or it could be so low that you run the risk of underselling your property.
The deadline for auction day creates a sense of urgency and helps the buyers who may otherwise procrastinate, to make a buying decision.
Your Summit salesperson will provide you with regular market feedback so you will be fully informed on setting your reserve with the Auctioneer.
We will assist you in setting the terms, conditions and auction day deadline including any specific instructions you have, e.g. possession date, chattels, etc. (your solicitor will vet these).
If there is a premium in the market for the property, the auction method, through competitive bidding, is the most effective means of securing it. With auction there are no complicated conditions, it is a binding contract on the fall of the hammer.
Marketing without an asking price means buyers judge the features and benefits that the property offers them and removes any objections regarding price from your property. This method exposes the property to the broadest possible range of prospective purchasers.
If you are considering selling and would like to talk to one of our salespeople about the benefits of auction, get in touch today.
