Why Sell Your House At Auction
At Tate Brownlee Real Estate we provide our clients with world class auctions. Our auctions begin with powerful open homes that our team conduct both during the week and every single Saturday! Our auctions consistently generate more offers and in a fostered time frame than any other sales process.
As the business owner, sales agent and chief auctioneer, I am a negotiation specialist, and am able to guide you through your entire auction journey.
I, Tate Brownlee, am the chief auctioneer here at Tate Brownlee Real Estate. I have been auctioneering for over 10 years and have conducted over 500 auctions. We have extensive knowledge and experience on how to successfully run an auction and why selling your house through this process could be the best option for you.
Our team will do a lot of behind the scenes preparation before your auction. This will include our Buyers Relationship Manager being in constant communication with potential buyers for your home. Our Buyers Relationship Manager will also pre-register bidders prior to the auction day to ensure the auction runs smoothly. We always have a large team onsite on the auction day who will prepare your property for auction. This will include our branded Tate Brownlee Real Estate prestige set up.
We like to assist you in every possible way as a property seller and help you achieve your goals, whatever they may be.
So, why should you sell your house at auction?
Auctions create competition
Auctions create a competitive bidding environment and often evoke a lot of emotion with potential buyers.
The scarcity of losing the property helps foster an emotional connection. The visibility of someone else getting what the property they so badly want or even just the idea of winning in a competition can help drive the sale price higher.
Auctions have a set end date
Having a set date for a house sale creates the urgency for a potential buyer to be organised for auction day. The extra effort and dedication required to bid at auction creates more of an attachment and desire to own the property.
Auctions reduce days on market
Auctions create a competitive environment where potential buyers are competing against other bidders and also the deadline of auction day. It gives them the “it’s now or never’ push.
An early sale can occur when a buyer feels compelled to make an offer to buy your home before the auction day. Usually this is because they think competition on auction day will be too fierce.
Auctions can give you a higher sale price
When a property is being sold through auction, it’s harder for interested bidders to determine the property’s market value because it’s difficult to compare to other properties for sale when they’re not fully aware of your sale price expectations. Therefore, bidders can often set a higher maximum bid price in their mind.
Also, when there are more buyers than homes available (like the current property market in Tweed and the Gold Coast), you will see incredibly active auctions with more registered bidders and homes selling well above their reserve due to the hot competition.
Auctions give you more control as the seller
When selling your house at auction, you determine the terms and conditions and the bidders agree with these conditions when they register to bid.
As the seller you can also set your own reserve price, guided by our local market expertise. You can also choose how much the auction is advertised to the public.
Auctions give you unconditional contract
When a house is sold at auction, the winning bidder is bound to the contract and an immediate exchange then takes place.
The sale contract is usually deemed ’unconditional’, meaning the sale is rather than waiting for the buyer to receive finance or further inspect the building.
What Happens If Your House Doesn’t Sell At Auction?
If the property doesn’t sell at the auction, we will be in direct contact with the most likely buyer and can enter further negotiations. In our experience, most houses will still sell on auction day, even if not sold under the hammer.
Our Recent Auction Results
Our team collectively and actively help each other to list and sell properties, which is a unique and collaborative way to ensure our clients best interests are always our priority.
These are the results from our latest house auctions:
18 Walter Crescent, Banora Point for $1,540,000 in April 2022
17 Mariners Crescent, Banora Point for $835,000 in April 2022
1 Eureka Crescent, Terranora for $1,2400,00 in May 2022
93 McAllisters Road, Bilambil Heights for $915,000 in May 2022
436 Terranora Road, Terranora for $1,430,000 in May 2022
41 Australia Drive, Terranora for $1,210,000 in May 2022
2 Liana Court, Banora Point for $1,150,000 in March 2022
98A Broadwater Esplanade, Bilambil Heights for $871,500 in April 2022
71 McAllisters Road, Bilambil Heights for $1,200,000 in March 2022
28 Parkes Lane, Terranora for $1,520,000 in April 2022
Our dedication to achieving these premium results has made us the top performing agency on the Tweed Coast. You can find all of our latest sales results here.
How Do House Auctions Work?
When selling your house at auction through Tate Brownlee Real Estate, you will deal with one of the most experienced property auctioneers on the Tweed Coast and Southern Gold Coast.
We help you navigate the tricky property sales landscape and guide you towards the best method of sale for your individual circumstances.
Your property will be advertised online and through our expert marketing team. Bidders can see what time the in person inspections are, then attend the ones they wish.
If potential buyers are unavailable to visit in person they can send someone on their behalf to look at it for them. We also can provide them with a video walk through. All potential bidders can contact our extremely knowledgeable buyer’s agent who can answer any questions they may have.
Communication is key to maintaining a high level of engagement with your property for sale. We consistently communicate with potential buyers and you as the seller, to take as much stress out of the process as possible and deliver a seamless experience.
How To Bid At A House Auction
In order to qualify to bid at a property auction, bidders must have finance approval from the bank or be a cash buyer (not needing finance from a bank at all).
There are no contract conditions at a real estate auction such as the house sale being subject to finance approval or a satisfactory building and pest inspection.
The winning bidder on the day of auction will be required to pay a deposit (usually 10% of the purchase price) on the spot. There is no cooling off period for auctions, and if the sale does fall through for whatever reason, this deposit will not be returned to the bidder.
The bidders must register to bid prior to the auction. Registering to bid does not mean they must place a bid but can help give you an idea of what could happen on auction day.
The personal details of bidders will not be shown to anyone, including you as the vendor, and their details cannot be used for any other purpose.
Each property auction will have its own set of conditions set by you which will be displayed at the auction event before bidding commences. Some of these conditions will include no late bids after the fall of the hammer and the highest bid will win.
We Help You Determine If It Is Better To Auction Or Sell Your House Through Another Method
We are always right there with you every step of the way throughout your real estate journey. Your property is often the largest financial investment you have made, so choosing a team that values you and your asset as much as you do is integral.
Our unique local property knowledge allows us to unlock doors for you that no other agency can.
Call us today on 07 5513 0300 to find out if auction is the best way to sell your house!
Let us open the doors to your future.