Estate agents don’t want you to know this…
The South African residential property market has traditionally been dominated by real estate agents for decades however all that is about to change.
A sales platform that has been around for decades and is used by sellers all over the world has captured the attention of local property owners.
Disgruntled property sellers are fed up with paying high estate agency commissions, sometimes as high as 7.5%.
More and more sellers are turning to auction due the fact that the sellers do not pay any commission and are achieving attractive sales prices in the quickest amount of time.
Auction is considered to be a mainstream sales platform in first world countries around the world, such as in Australia where nearly 85% of second-hand residential properties are traded on the auction floor, or in the USA where an auction company can sell up to 5000 properties on a single day.
The future of the local industry looks very positive as the benefits of the auction method for the buyer and seller are recognized on a wider scale, and the perception that auctions are exclusively used as a channel for foreclosed and liquidated properties is dispelled.
The benefits of selling your property on auction include:
• No commission payable by the seller
• No price ceiling – competition for your property results in maximum prices being achieved
• Results achieved in 3 weeks – aggressive marketing over a 3 weeks period achieves rapid results
• Cash offers received – all offers received on auction are non-suspensive ie offers are not subject to finance or due diligence
• No show days – viewing is by appointment only
According to FNB’s estate agency survey, the average time residential property is taking to sell is 17 weeks and 2 days. The average time it takes to sell property via auction is just 3 weeks, the reason for success being achieved so rapidly is a combination of many factors. One such reason is that the property is aggressively marketed on many platforms and buyers are given a deadline to perform. The auction acts as trigger that results in multiple serious buyers competing for your property.
How does it work?
Selling your property via auction in simple.
Step 1: Fill out the form below
Step 2: A professional auction sales agent will contact you to set up an appointment in order to understand your property and specific needs
Step 3: A comprehensive proposal will be submitted to you.
Step 4: Once you agree on the price you would like to achieve; a mandate is signed and the property is advertised for auction
Schedule Your Free Assessment
In order to be contacted by South Africa’s largest and most successful residential auction company , please fill out the form below: