Let the games begin!
The world in which we exist requires us to compete for things on a weekly, daily and even hourly basis. More often than not, the things that we desire are also desired and wanted by other people. When we have a number of people seeking out the same thing, we instantly have a competition. Competition is a natural and healthy way to determine who is willing to do the most to secure the thing. In the case of real estate purchases, there can only be one buyer and the party willing to pay the most money wins the competition.
SELLER ADVANTAGE #2 - COMPETITION AND EMOTION
Auction allows buyers to determine where they see the value of a property in what is an open and transparent public negotiation. Buyers can see their competitors and know exactly what they are willing to pay through their bidding. Public bidding can assure a buyer that their decision to bid on the property is sound, as others also want it. But it also heightens the emotion state as the fear of missing out intensifies.
Marketing your property by Auction moves the pressure and emotion to the buyers and this is to your advantage. An emotional buyer, under time pressure and in competition with others may pay more than you thought and even more than what your agent thought. Using auction to market your property stacks the odds in your favour and gives you the opportunity to achieve a premium sale price. Buyers always determine value…let’s make them fight for it!
Damian Borger - Auctioneer