Auction or private sale?

After making the decision of putting your home on the market, the next question to ask yourself is, “Should we go auction or private sale? Which is the best option for us?” Your decision on what sales strategy to adopt should be determined by your home, the location you live in, your personal experiences and situations, and the market.

Managing Director for Aurora Estate Agents, Andrew Nguyen, said “The sales strategy your agent chooses to run for your property is crucial to you getting a premium price”.

“Once you have chosen the auction or private sale path, it is then up to the agent to make sure they are taking all the right steps to ensure you get a result in good time”.

Auction

With an auction campaign, it will run over a 3-4 week period. This gives you time and patience to go over all feedback from buyers before the auction day. The feedback attained during the auction process is what helps you to determine the correct pricing for your home and will help you set your reserve. With auctions you will have three separate occasions to sell your property:

·       Before the auction day

·       On the auction day under the hammer

·       After the auction day if it was passed in

If you do receive an offer before auction day, your agent should be in the best position to let you know if you should sell before auction day.

Something to always remember, is that if your home doesn’t sell on auction day, it’s 100% not a failure. It just gives yourself and your agent some more time to re-strategize and work out the next phase of your sale.

Private Sale

If you find auctions a little too stressful and anxious, listing a property by private sale is just as effective. This allows you to start negotiating with buyers immediately. Whilst selling your home through private sale, there’s no deadline or set date where you need to sell.

Sometimes vendors worry about selling too quick and thinking they could’ve got more if they waited longer. That’s why it’s important to have the right agent by your side to show you all the comparable properties that have recently sold in your area as well as give you the right advice on the state of play in the marketplace.

It’s very important to engage with the right real estate agent and take their advice, after all they are the experts. Some agents will steer you towards a different sales approach that you would’ve liked but they’re only giving you the best advice they can give, to achieve the best result possible.

Each client and each home is different from one another so each and everyone should receive a different tailored sales and marketing structure. Your agents at Aurora Estate Agents will navigate you in the right direction and will be there every step of the way.

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 Aurora Estate Agents

Aurora Estate Agents are a new breed of real estate professionals which are highly focused on their core values: integrity, accountability, transparency, client focussed and process driven. Aurora Estate Agents’ dynamic team is a collaboration of effective marketers, residential sales agents and residential leasing consultants.

South East Melbourne, which includes Berwick, Narre Warren, Beaconsfield, Clyde North, and Cranbourne is the country’s property boom hotspot. Aurora Estate Agents is perfectly positioned with a broad spectrum of property expertise to provide the best advice and skills for homeowners, investors and developers to ensure they continue to maximise growth and take advantage of existing market conditions.