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Auction's with Century 21
 

Auction's with Century 21

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    Auction's with Century 21 Auction's with Century 21 Document Transcript

    • Auction- the reasons and benefits of this are as follows 1. You have three chances of a sale with auctions - before the auction, at the auction or just after the auction and the days following the auction 2. You can sell your home in a very quick time period 3. There is an intensive marketing campaign to attract as many buyers as possible 4. If you sell under auction conditions, you have a cash contract with no conditions attached We can accommodate a quick, no fuss sale. The date is also a set one, you can make plans accordingly.ƒ Purchasers know that on a certain date the property will be sold, this gives them time also to make financialarrangements for the date of sale thereby creating urgency and competition. Competition can encourage ahigher price than originally intended.ƒ It is generally accepted that once a price has been advertised, it is looked upon as the top and mostambitious price, open to negotiations always downwards.ƒ But what if you put a high price on it? Over pricing the property generally has the effect of usuallyunderselling it as the longer it is on the market the more people say or feel that if it has not sold yet it must beoverpriced.ƒ By removing the barrier of price we can find “all” parties who would genuinely buy it, this could be oneperson or half a dozen and sell to the party prepared to pay the most.ƒ By auctioning the property we do not go through the agony of finding a buyer who would have paid more aweek after you have sold it. The Auction makes sure we find all the interested parties now and because youhave control of the process we can get back to all people who have viewed it before you decide to sell it.ƒ If we get an offer before it is advertised I hope this meets with your approval.ƒ People will often pay more and have to pay more for a property that they want.ƒ A good price can be achieved quickly as buyers do not wish to miss out and can often put offers in before itis advertised OR before the Auction at a premium to stop the sale.ƒ I would prepare Auction Particulars and Conditions of Sale. You control the terms i.e. Possession daterather than having an unsuitable date being dictated to you by a buyer and we can guide you on the Reserve ifrequired.ƒ A 10% deposit is paid on the fall of the Hammer (twice as much as generally accepted). All Real EstateFees are taken from the deposit after ten days. With a greater deposit you have money to put down on anotherhome or property, often alleviating the problem of having to get bridging finance for the deposit on anotherhome or property yourselves.ƒ Yourselves set a Possession date to suit where you are going, and you can make plans accordingly.ƒ Auctions receive greater exposure. Maximum Exposureƒ The Auction draws a bigger level of enquiry as the price is removed. Buyers from lower AND higher pricebrackets will view the property. For the lower buyers your property could be the best they have viewedthereby making it appealing AND for the higher priced buyer dropping a price bracket could make yourproperty look cheap making it easier to negotiate a good price with them.ƒ A marketing plan can be adjusted to suit your needs. Ideally the impact should be immediate and mostmonies should be directed towards the early days. By focusing the advertising effort early it can actually helpus save money! If an early sale eventuates.
    • ƒ With marketing and the magic word Auction as the heading for the Ad, buyers well get drawn to theproperty.Negotiatingƒ One of the key skills in real estate is handling the negotiations. The Auction process actually handles thatfor you. Relieving the pressure from you and putting it back to the buyers. You are in control.Offers can be forthcoming in three waysa. Leading up the Auctionb. The Auction itselfc. Post Auction by identifying the buyers interested who bid, or were Present at the Auctionƒ The ideal way to price a property is to place a price upon it just above what the highest buyer in the marketplace is prepared to pay. The Auction identifies this price without you having to ascertain a price yourself.You still have the reserve but it is from the knowledge of what pricing information the market and buyers hasgiven us. It is not uncommon for offers to come in higher prior to or at Auction than the owners expectations.The Auction process allows this to happen.