Nine written offers presented!
24 May 2015
There is certainly a place for auctions when selling real estate. However in today’s Sunday paper a large real estate agencies auctions for a day were reviewed. Only 15 out of 37 properties sold under the hammer, not a great success rate especially in a heated market. Some buyers are walking away from auction, particularly in the lower priced properties.
Sometimes you really are better to put a price on a property from the start. Here is a great example. A property we marketed recently was advertised with an asking price and enjoyed a massive number of visits. We were inundated with interest and after a crazy four days I presented the owners with nine written offers to consider. The property sold for considerably over asking price. It was interesting to note that the majority of buyers said they probably wouldn’t have bothered with the property if it had been marketed by auction.
Sometimes you really are better to put a price on a property from the start. Here is a great example. A property we marketed recently was advertised with an asking price and enjoyed a massive number of visits. We were inundated with interest and after a crazy four days I presented the owners with nine written offers to consider. The property sold for considerably over asking price. It was interesting to note that the majority of buyers said they probably wouldn’t have bothered with the property if it had been marketed by auction.