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Useful tips to make sure your property sells at auction

By Andrew Bell

Visitors to the Gold Coast peak in January, and Ray White data shows that more property sales are made than in any other month. Get your property in front of this massive audience of keen buyers at the Event – the highlight of the nationwide Australian real estate calendar. 

People flock to the Gold Coast Turf Club Events Centre, where your property could be auctioned off in front of an audience of 2,000 plus potential buyers. This property extravaganza is the culmination of two decades of practice, and one of the most comprehensive nationwide marketing campaigns in Australian real estate.

There's a trick or two to selling at auction though, so we've whipped up five tips to make sure your sale goes smoothly. 

Keep your cool throughout

Whatever happens at your auction, it's essential that you don't overreact and panic in fear of your property not selling. Even if bidding doesn't reach the reserve during the auction process, at the Event you'll have a team of real estate professionals by your side to help negotiate an agreement with the leading bidders.

Your property might sell at this stage – perhaps for even more than your reserve price! Auctions can certainly be stressful for sellers, but there's no need to worry if you've got the right people beside you. 

Don't settle for less

With so many other homes selling during the red-hot January season, you may think you'll have to compromise to compete. But remember, thanks to a hike in demand during this time you're operating in a sellers market and you may be able to get more for your home than you'd expect.

At the beginning of last year CoreLogic RP Data shows the Gold Coast auction clearance rate was hovering below 40 per cent, which isn't particularly promising. But at the Event 60 per centof all homes sold! With an improved rate of success, you're home's may be more likely to sell for more. 

Don't mess with real bidders

It's tempting to bid yourself, or have the auctioneer bid the price up for you to get things moving. However, it might not be the best idea. Vendor bids, while legal, can compromise the integrity of the auction and take the wind out of potential buyer's sails decreasing interest in your property.

Instead of hurrying things along, hang back and rely on a team of the nation's best real estate professionals. Here at Ray White we know what works on auction day and we put that knowledge to work on January 24, the day of the Event.

Don't share your sale price openly

Selling at auction is all about showing the demand and competition for a property in real time. Multiple bidders face off against each other, and the properties sale price is determined only by how high they are willing to bid. If several bidders are after your property you may find that it sells for far more than you expected.

Sharing the price you'd be happy to sell at, even with friends and family, can jeopardise the chance of higher bids, as word spreads quickly when it comes to property. Keep your cards close to your chest and you may be pleasantly surprised on auction day. 

Get your property on the biggest stage there is

Selling your property at the Event will ensure that it's marketing and eventual auction reach the largest number of potential buyers possible. The day itself is the culmination of a wide-reaching and targeted international marketing campaign – all focused on the sale of your property. 

Last January the Ray White Surfers Paradise website reached over 200,000 people during the month of the event. On the day over 245 buyers registered and 2000 people attended. 

Get in touch with the team at Ray White Surfers Paradise to get your property on the biggest stage there is. 

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