In recent years auctions have gained more and more popularity as a way of selling a property and for good reason—a property can sell for more than originally expected due to competitive bidding. Sydney and Melbourne are by far the largest supporters of this selling method, with vendors in these cities more inclined to choose auction over a private sale.
If you’ve decided to sell your property via auction and are looking to appoint an auctioneer there are many things to consider. Here are our top tips for selecting the right auctioneer for you:
Word of Mouth
Often the first agency that comes to mind when thinking about selling is the one that successfully sold your neighbours, friends or a family member’s home. Getting firsthand feedback from them will help you determine if they too are the right real estate agency and/or auctioneer for you. Ask plenty of questions including what they liked and what they didn’t like about their auctioneer.
Your home is likely to be your most valuable asset, therefore, it is imperative you find an auctioneer that has plenty of experience and knowledge of the property market in your local area. The auctioneer you choose should have a long and successful track record of selling homes similar to yours in the same area. By asking plenty of questions and researching their sales history online you will be better able to determine if they have what it takes to sell your home.
Jump online and see what is currently being auctioned around you and who the auctioneer is. It’s advisable to attend auctions run by different real estate agencies so you can get an understanding of how different auctioneers operate i.e. their style, personality and overall performance.
Online real estate and comparison websites will help you research auctioneers in your area. Websites such as ratemyagent.com.au rank the top agents in each postcode across Australia, as well as display the number of properties that particular agent has sold. Feedback submitted by buyers and sellers is also available to read, which can be invaluable if you’re unable to decide between several auctioneers.
All auctioneers have their own signature style and way of operating—some are loud, charismatic and spruik themselves heavily, while others may be more humble and let their results speak for themselves. See if they have video of themselves conducting an auction so you can decide which style and personality you feel you can work with.
If you already have an existing business relationship with a real estate agent but they aren’t an auctioneer ask for their advice as they will likely know who the best person is for the job of auctioning your home.