Tips! Why Auctions Work?

Bob Nahab from Bob Nahab

For sellers and buyers, auctions offer greater transparency throughout the process than almost any other selling method.
Those selling using the Auction method get to enjoy a high profile marketing campaign resulting in:
- Property may sell before, during and after the auction
- You find your buyer quickly because auctions create a sense of urgency
- Sellers get to see exactly what people are prepared to pay, not how little they are prepared to pay
- The selling period is finite
- Sellers know they have unconditional cash buyers
- You know purchasers are genuine
- Unlike the private treaty/fixed price process, auctions avoid having to put an arbitrary figure on a home which may deter potential buyers

Buyers also benefit from the auction process.
- Buyers know the vendor, who has already invested in a marketing campaign, is committed to selling
- Buyers can see the other bidders and know what they are up against
- There is a realistic timeframe in which to organize finance, inspections and other related matters
- When standing with other bidders, it verifies you are paying market value
- You are an integral part of the whole process and get to see the process in a fully transparent manner so you can make your own decisions on how to proceed each step of the way.