The advantages of the auction are numerous.  You set the terms, conditions and deadline.  You agree on an undisclosed minimum reserve price, with no pressure to sell if the property fetches a lower than expected bid.  There's also the very real possibiity of acquiring a higher price - especially if keen buyer interest promotes competition.  You'll also attract only genuinely interested, cash-in hand buyers with no subject-to-sale or subject-to-finance uncertainty.

There is even the opportunity to accept offers prior to auction day.  A positive statistical sales rate together with property being on the market for such a short time have many regarding auctons as the most successful 'non-price' method of selling.  Auction marketing motivates genuine buyers to act.  It's also the least disruptive and intrusive method because you only need open your home at times which suit you best.

There are Three Stages of an Auction, which allows three opportunities to sell a property using the Auction method:

1. Pre-Auction Period
2. The Day of the Auction
3. Post-Auction Period

The Seller Benefits at Auction:

• The seller sets the terms, conditions and deadline.
• This auction-oriented target marketing puts the `spotlight' on the property, adding a competitive edge that strongly favours the seller.
• The property is neither overpriced nor undersold; its value is determined by the market and individual buyers.
• The `no price' aspect will attract more genuinely interested, cash-in-the-hand buyers.
• It allows sellers to plan ahead in the knowledge that a specific date has been set for the sale of their home.
• A cash buyer means the seller can proceed immediately with their goals.
• A sense of urgency is created by the set timeframe, bringing interested buyers to a point of decision.
• The level of market interest will help the seller gauge the reserve price, with the real possibility of achieving a premium price.
• The seller has the option and may decide to accept a cash offer prior to auction day.
• Those who attend the auction will be focused on establishing the maximum price they will pay, not how little the offer should be.
• The seller controls the terms of transaction and actively participates in the sale process.
• A successful purchase requires a payment of a deposit on the day, usually 10% of the purchase price.
• If the property is passed in, it will be exposed on the open market as an exclusive listing at a saleable price established from the market feedback received throughout the auction process.
• On top of all of this, the level of service and feedback by their sales consultant is second to none.