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What should sellers know about auctioning their homes?

By Andrew Bell

Thinking of selling your home? One of the big decisions you'll have to make initially is whether you want to pursue a private sale or put the property up for auction. If you're considering the latter approach, there are several things you should know about it, so you can make the right choice for you and your family.

The following are just a few of the most important considerations when auctioning a home:

It will happen quickly

One of the good things about holding a home auction is that you know the exact date and time your home will sell, according to HSH. Typically, an auction will end within a matter of minutes, giving you a lot of certainty about next steps and helping you plan your move.

It takes an aggressive marketing plan

Given that you will be planning your auction for one specific time, you need to maximise the number of people who show up and, potentially, bid against one another. That starts with a strong approach to marketing the property in the real world, online, in print advertisements and so on. Simply put, you need to get as many eyes on your listing as humanly possible.

It increases competition among buyers

One of the big advantages of selling at auction is that there's a lot of excitement around the process and it can quickly drive up the price of a home. Choice.com.au explained that with even two bidders pitted against one another, the sales price can rise quickly, but that also means you need to do more to make sure your home draws a lot of interest.

It comes with a different sales process

If you've sold a home via private listing before, you're likely accustomed to that traditional sales process. And as you might imagine, auctions come with a different process entirely. As a seller, that can be a big benefit, but you'll have to be ready to move more quickly given the nature of this type of sale.

No matter when or how you choose to sell your home, it's vital to do so with the help of an experienced seller's agent by your side. At Ray White Surfers Paradise, we can guide you through the entire process and help you maximise your sales price. Get in touch with us today to learn more about how we can set you up for success from the start of the sales process until the final papers are signed.

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