WE ALL HATE AUCTIONS BUT.......
Last night (Sunday) we tabled FOUR offers on a Statesman studio, selling it eventually for $166,000.
As the Apartment Market heats up there are inherent dangers for both a Vendor and his Agency in underselling a property.
So far our strict policy of alerting the Sales Manager, Rowena Tinone every time an offer is being prepared has worked – if more than one offer is likely they are tabled under supervision so our Vendor receives the best possible price.
But there has never been a more plausible argument for Auction than last night's scenario – effectively a de facto Auction/Tender by default.
Auctions are hard work but both Vendor and Agent can have confidence in a transparent process with prudent marketing. And the biggest danger in our current market is not allowing the market to “breathe”.
By this I mean Agents pricing properties based on historical evidence and not judging the appetite right now, today. The Auction does all this and current clearances are 96%!
Colleague Agents are always attending City Sales “street” auctions, one telling me “This is the best show in town!”
It is continuing an excellent market if you are considering exiting and we would love to show you why you should trust City Sales with your Apartment.
But you'll have to talk to Sales Director, Mike Richards or Sales Manager, Rowena Tinone because the Boss has been invited by a brother-in-law to spend a week fishing in Mexico and the Boss' wife said please do.
Yes, that made me nervous.
Puerto Escondido.
MARTIN
