Despite the booms in many areas, thousands of home sellers are turning their backs on auctions and benefiting. But there are still thousands of sellers who don’t realise, until it’s too late, what happens to them at auction.
They get a LOWER price, that’s what happens.
This is why:
1. The starting price: It seems as if the price goes up at auctions. But that’s only because it starts low. One of the basic principles of price negotiation is to always start high.
2. Reserve price: The reserve price is the price at which the home can be sold. It’s the lowest price a seller is prepared to accept. And that becomes the central focus of the auction. If you are trying to get the highest price, do NOT make your lowest price the main focus of the sale.
3. Deception: To persuade sellers to auction their homes, agents will talk about high prices. And then to get buyers to come to the auction, the same agents will talk about low prices. Most times both the seller and the buyer are deceived.
We pride ourselves on being upfront. If it comes down to being honest and losing a sale or property then we’ll choose the latter. We believe in mutual trust, respect and plain old fashioned service. Our team is what sets us apart from our competitors and are the face of our business.