Could this be due to the shortage of listings or are sellers and buyers in WA now becoming aware of the success of the auction process? It is a combination of the two explains Jeanette Bates, Director and Licensee of Realmark North Coastal.
“We are going against the trend at Realmark North Coastal. We care for our clients to achieve the best possible outcome and have conducted 61 auctions this year alone which all sold. There has been a total of 359 bidders at our auctions which is an average of over 6 bidders registered and ready to bid enthusiastically for our seller’s homes. That number is truly phenomenal and hasn’t been seen in our market previously.”
Realmark North Coastal in the past few weeks has received an average of $86,500 average above the selling price or reserve price, which is a total of $4,524,564 that their auctions have delivered to their clients.
The Realmark set date sale method of selling property has been extremely successful however, we have also found that there is a huge advantage to our sellers with an auction.
“With the traditional private treaty sales method common in WA ,as a buyer, you aren't able to see what your competition are offering to pay for the property, there is no transparency as all offers are “behind closed doors” and you could risk losing out on a property you desire by not making an informed decision. Auctions provide a level of transparency that extends the selling process period to 3-4 weeks allowing more buyers to be engaged and get their finance prepared, have time to properly inspect the property and consider the best outcome for them so they can act with confidence on the day and put their best foot forward” said Ms Bates.
Leading up to the summer selling season it is important to ensure when listing your property for sale that you list with a smart approach and ensure your property provides you with the sale price best return.
“For a seller an auction simply avoids the common risk of underselling their property. Sellers in this market should leverage the market conditions and ensure the best return is achieved for your major asset and give yourself the best opportunity. Don’t risk underselling your property in todays market ” said Ms Bates.
To achieve great results in this market it is advised to partner with agents who have a great deal of knowledge in your local area. Not all agents have the knowledge or team to market a property by auction to obtain the best outcome for their sellers. Realmark North Coastal has been the dominant auction office in the Northern Suburbs and with Jeanette Bates being the director of the office and a licensed auctioneer for over 30 years you can be assured that the team can get the very best outcome in the marketplace.
Ensuring all buyers are engaged and coaching a buyer through the process is always crucial. At Realmark we ensure our buyers are registered and staff are on hand to ensure their finance, white-anting, and structural reports are all completed prior to auction day. This provides buyers with confidence on the front lawn to purchase their new home. To structure an auction correctly it's not just one person, it takes the whole team.
“At an auction, Realmark North Coastal agents will help buyers bid and support the seller to get the best from both buyers and sellers and not all agents are prepared to do the hard work. Everyone can sell, but not all can hold the property in the marketplace to get the major return on the asset” said Ms Bates.