With 44 properties listed for auction, 32% sold prior, 52% went under the hammer and the additional sold within 24 hours. Not only did they sell, but above reserve. Most recently, a property in Duncraig had a reserve price of $620k, sold for $740 returning owners an additional 20%. Another in Marmion with a reserve and price prior to the auction of $810k sold $877k under the hammer on auction day, giving the owners a return of almost 10% more.
The WA market has well and truly heated up ahead of summer, with buyers well versed and educated. They have finance approved and are prepared to make swift offers to beat the competition. The beauty of an auction is that everyone is there on the day, they can see the other bidders position and can take control of the process.
The North Coastal Team have taken a lead in the WA auction market and delivered exceptional results for their clients. By utilising their buyer database they have delivered a significant number of prequalified buyers to these auctions, resulting in sales above and beyond expectations.
Traditionally auctions were a preferred method of selling real estate in the Eastern states, but have become more and more frequent in WA. With Realmark North Coastal's experienced team, auctions have been becoming a more prominent method of selling in the Perth market.
When asked why they believe auctions are successful, Licensee and Auctioneer, Jeanette Bates said, “At Realmark we are always looking at ways to be innovative and help clients achieve results via productive sales methods. Auctions have been a method of sale we have pioneered for years, we are well versed in the production of an auction and what needs to be done to ensure the property is well marketed, with buyers registered prior to the day. Our Agents are some of the most productive in the industry. We work with our clients to achieve results and we understand how stressful selling your home can be, that is why our agents go above and beyond, so the process is seamless.
Auctions have become increasingly popular in WA, as sellers and buyers become more familiar with the process. I believe it will become the selling method of choice.” Added Jeanette.
Realmark North Coastal are seeing above average results, with REIWA stats showing days on market in metro WA ranging from 30-50 days whilst the team at North Coastal are seeing results in just 24.8 days.
Agent Frances Goncalves recently sold 23 Halgania Way in Duncraig. An original 1970 home, filled with love, laughter and charm, a true love story dating back to 1981. With outstanding results, 12 registered bidders, bidding coming in thick and fast, there were 21 bids placed in just 10 minutes and the home was sold for $740,000.
When asked about the auction process, Frances added, “The buyer enquiries were instant, from the moment it hit the market.
The sellers are a beautiful family, they loved this home and you can really see that when you speak with them and look at the home itself. We decided to let the market dictate the price and go to auction. The auction process allows complete transparency and all bidders can openly see their competition and make their next move, which one lucky bidder did.”
Speaking with Agent Ian Masterson, he said “Auctions are a great tool for any owner to consider as a brilliant marketing medium to sell their home. The auction process is particularly relevant at present in a market that is extremely active, short on stock and competition to purchase is high.
Interestingly when I speak to both Buyers and Sellers regarding auctions it is becoming increasingly apparent that the key thing all parties appreciate is the transparency of an auction. The seller gets a true market value of their property under best-case sale conditions for them and the Buyer knows what their competition is doing because they are standing there next to them in an open environment.
I have had some outstanding results recently at auction, and as the WA community gets more comfortable and familiar with the process, I can only see it becoming more popular. Just last week we sold 24 Sheppard Way in Marmion, over the reserve in record time.
If you are looking at selling at auction, get in touch and we can walk you through the options and the process.”
Seasoned Agent, Aaron Green added, “Auctions are a great way of letting the market decide the value of the home. It helps sellers ensure they are not underselling, and buyers know what the nearest bid or competition is. When you list with one of the Agents in our team, you don’t just get them, you get the support of all of us. We help promote the properties and be there for each other by attending each other’s auctions, lend a hand when called upon and support the buyers and sellers along the way.”
When you sell your property with Realmark North Coastal, you don’t get one agent, you get the whole team.
If you are thinking of selling, then speak to a team of experience, authenticity and results, Realmark North Coastal, enquire now.