Sellers Embracing Non-Distressed Auctions
Sellers are always looking for new ways to market their property, especially in the fast paced, highly competitive real estate market of South Africa. Innovation around marketing methods, HD media, and agent presentation all come to the fore, and most times make all the difference. However, every so often a concept so powerful enters the realm that it smacks the market for a home run. Non-distressed auctions have been that concept.
We have seen a major uptake in seller demand for non-distressed auctions in South Africa and our agents are finding a lot of success with this method. One of the most prolific factors influencing sellers' desire to auction their properties is the timeline. The auction process allows you to set your own date and timeline. No waiting around or guessing when your property will sell or not sell.
Auctions shift the buyers' focus from price to value. Without knowing the price, potential buyers can focus on what the property itself has to offer. We don't get paid until we sell your property, and we don't sell your property until we reach an amount you are happy with.
We all know the laws of demand and how increased buyer activity results in increased demand, therefore translating into getting the most a buyer will pay for your property. Auctions appease both sellers and buyers as it is a totally transparent process whereby both parties make decisions on what they feel the property is valued at -a truly accurate market valuation.
We conduct auctions with a reserve price. We don't believe in underselling, and we believe the sale of your property is your decision. We allow you to accept any offer prior to auction day. In other words, you choose the minimum price. If bidding doesn't reach your minimum, you're under no obligation to sell.
At Harcourts, we add additional value to help your property stand out, like an intense and strategic marketing plan that incorporates high-level advertising campaigns.
Don't think that auctions are only suited to certain types of properties. Our Harcourts auctions have high conversion rates on properties of all types. If you are interested, do not hesitate to contact a Harcourts office near you.
24 Jun 2022
Author Harcourts South Africa
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