At Dethridge Groves Real Estate we know auctions. For a variety of reasons, most properties throughout Western Australia are sold via Private Treaty with most property owners rarely considering an auction as a viable alternate method of sale. When considering selling your property, it is sensible to equip yourself with as much information as possible, including the option of selling via auction. At DGRE, we have managed hundreds of successful auction campaigns and for the right property in particular market conditions, choosing to auction your property can deliver extraordinary selling outcomes. With Hayden Groves and Michael Harries both licensed Auctioneers, we have the expertise and experience to get your property sold under the hammer.
Selling your property by auction is the most transparent, fairest way to sell real estate. The conditions of sale, including the reserve price, are set by the seller and are consistent for all buyers that bid on the auction day. This means the seller can set the conditions of sale that suit their circumstances, such as the settlement date and deposit amount. The sale is also unconditional at the fall of the hammer, lessening the chance of a sale falling through prior to settlement. An auction campaign also gives sellers three distinct opportunities to sell, prior to auction, under the hammer or shortly afterwards. It is the competitive nature of an auction in an open public forum that often reveals a higher-than-expected selling outcome. We can share many stories of successful auction days and fabulous outcomes for our valued clients!
Most properties are suited to a well-considered auction campaign. There is a common myth that an auction doesn’t work in WA. Whilst it is true most property sells via Private Treaty, due to its public, transparent process, an auction reveals an accurate ‘snapshot in time’ of genuine market value, revealing what buyers are prepared to pay for a property. This is particularly relevant in circumstances where it is difficult to accurately assess a property’s value, in situations where legal transparency is required (such as an Executorship) or where a strict timeframe for a sale is required. Talk to us about whether an auction will suit your situation.
Buyers are often anxious about bidding at auction; it can be an emotional experience.
Here are some tips if wanting to buy at auction: