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Auctions – the talk of the town!

Blog auctionsProperty prices remain on everyone’s lips in 2016. The last month alone has seen some record prices, including in Queenstown’s newest subdivision, Shotover Country, where hoamz achieved a suburb record in February. Alongside that, we’ve sold every single auction so far this year – that’s a 100% success rate, with a fair amount selling prior to the planned auction night!

The start of the year has seen Queenstown firmly ensconced in an auction market – prices have become difficult to predict accurately due to the high buyer demand, making auctions the best option for vendors to ensure they’re achieving maximum market value. Despite this, we’re still finding that sellers can be nervous about taking their property to auction – there’s a perception that auction can be a stressful process, that sellers can feel rushed and that buyers are put off by not seeing a price. In reality, sure, they can add a little pressure due to the timeframe being put on the sale, but they also come with a set of unique advantages – check out below our top ten reasons to take your asset to auction.

  1. Maximum price – open competition between buyers will generate the best price the market is willing to pay
  2. Highly skilled auctioneer – get the best negotiator working on your behalf
  3. No complex clauses – you receive cash unconditional offers only
  4. Open to everyone – anyone can bid at auction provided they are in a financial situation to do so
  5. Urgency – limited time means buyers must act now and not drag out negotiations, giving you a deadline to plan your next move
  6. 10% deposit – this is paid on the fall of the hammer meaning no waiting period
  7. Peace of mind – unconditional offers avoid the fear of collapsed contracts
  8. Confidentiality – your price expectation is not revealed
  9. Negotiations – these go up rather than down as can happen with a fixed price strategy
  10. Control – you the vendor set the reserve price and control the process

Call today if you’re interested in hearing more about the auction process.