In Auctions

If you’re ready to sell your property, consider an auction rather than doing what everyone else does.


Around 97% of all properties in Western Australia are sold the same way – with a for sale sign on the verge. With sellers looking for ways to differentiate themselves, auctions are now gaining popularity around Perth, but they still have a way to go.


Phil Hayes is an auctioneer and associate director of Realmark Coastal who says the days of feeling that an auction is a combative way to sell your home is long gone. These days an auction equals communication and is a much more personal affair during the four week campaign where the seller is kept totally in the loop.


“When working an auction you virtually speak to the vendor everyday to update them on any changes,” Phil says. “It’s an intense campaign which is designed to climax with multiple offers at the auction at the end.


“The more available a property is the better, because we can bring more people through which creates more buyer engagement plus a buyer favourable time to consider the property and hopefully fall in love with it."


Realmark’s managing director John Percudani says if you’re going to auction your home, it’s imperative your agent understands how to run an effective marketing campaign.


“It requires a great amount of communication between the agent and the client and it’s imperative the client is given lots of the right amount of information,” John says. “When it’s done by the right person it gets a great result because the client is really getting information in real time about the market and understands their position in order to make a good decision.”


In the past a hesitation by agents in general to be confident in the process is why we don’t see as many auctions in Perth compared to cities like Melbourne, but that’s changing.


For a buyer, having the date of an auction gives you a known timeframe to decide that you want to bid on the house, ready your finances and do any associated homework. It also allows you to view the house numerous times as well.


“For the purchaser, the process is a lot more transparent,” Phil says. “Rather than making multiple offers you are able to compete as you know what the last bid was. Also, the time of the actual sale is compressed into the time it takes to complete the auction.”


Don’t be put off by the number of people who turn up at an auction either. Some of them are simply there to watch and others to take in what can be a rather entertaining and compelling 20 minutes.


“A good auction is quite exciting and entertaining. That’s why it gets a crowd, because it’s an event and people like the sport of it. If you have an engaging auctioneer, it’s even  more entertaining."