There are numerous benefits of selling your property at auction:
- The set sales date allows you to make plans for the future. It forces buyers to act within a specific timeframe or they risk losing the property.
- The absence of a set price attracts buyers from all price ranges, with each having a different opinion as to what they would pay for your property.
- Placing buyers into an open competitive situation will usually achieve the best results.
- At all times you are protected by your confidential reserve price, with the help of your PRDnationwide agent. Only you can change this reserve price.
An auction on the property is legally binding. Once your property has been sold under the hammer, the sale conditions are set in concrete.
When you set the price at which your property is to be sold to the public, you are selling by Private Treaty.
One agent is appointed on an exclusive basis for a set period to work hard to market your property to the buying public.
- Without a set sales date, you have time to consider all offers by potential buyers.
- All negotiations are private and in a time sequence to suit you.
- Only one price is being quoted, and your exclusive agent has the freedom to work with everyone in the area.
- With regular, honest feedback provided to you, you are able to gauge the success of the marketing campaign as well as the acceptance of the asking price.
- Many buyers are unwilling to buy at auction because they require conditions. Eg: finance.
Remember, no selling agency fee is paid by you, unless your exclusive agent negotiates an offer from a buyer that you will accept.
