Page 10 - Choosing the Right Agent

SELLING

YOUR HOME

WITH

CENTURY 21

TAIL OR MADE STRATEGY A U C TION

We begin the process with one of the most important When an owner decides to go to auction, the property
and fundamental elements: setting an appropriate is marketed extensively for a set period of time
price for your property and developing a pricing (normally around 4 weeks). This intense campaign
strategy. is designed to create interest in the marketplace and
strong competition between buyers. On auction day,
The last thing you want is to put your home up for sale you decide on a reserve price for your property. If
and have it sit idly on the market without generating bidding does not reach your expectations, you can
the interest it deserves. Typically, the longer a listing decide not to sell. If bidding goes above the reserve
is on the market, the harder it becomes to sell – as price, the auctioneer will sell it to the highest bidder.
potential buyers start to wonder if there’s something There are many reasons why an auction is effective.
not quite right about the property. In these cases, it will Firstly, there is a set marketing period and a final end
eventually sell, but often at a discounted rate. date, so it is easier to try to plan dates for your move.
Also, inspections are normally arranged when your
Often the only thing delaying the sale of a property property is looking its best, and at a time that suits you,
is the asking price. Of course, you want the best price so there’s minimal disruption to your life. And, there
for your home – but when you meet the market’s is no “cooling off” period, which means that when
expectations on price, you will attract buyers. And the house sells at the auction, it’s definitely sold. The
once you’ve gained the interest of one competitive buyer normally hands over a cheque for 10 percent of
buyer, then you’re ready to negotiate a great price on the purchase price.
your home.
You can accept an offer prior to auction, you can sell
on auction day, or if you decide not to sell on the day
you can sell later by negotiating with the interested
buyers generated by the marketing campaign. You are
always in complete control.