Auctions Get Lower Prices

16 Oct 2023

Thousands of home sellers are turning their backs on the auction method. But there are still thousands of sellers who don't realise, until it's too late, what happens to them at auction.

They get a LOWER price, that’s what happens. 

 If someone is trying to talk you into selling by auction, then before you sign anything, please read this.

How Auctions Get Lower Prices

At an auction the highest bidder only has to beat the under-bidder by one dollar to win. Most times the highest bidder at an auction would have paid thousands more. The sellers risk losing thousands.

If a property fails to sell at public auction it will be 'passed in'. The 'passed in' price becomes the perceived value of the property by other buyers which could be thousands under the true market value. The sellers risk losing thousands again.

And this is how auctions get lower prices.

Research shows that more than 90% of buyers do NOT like auctions. Many buyers avoid auctions because they dislike the process, therefore reducing the market and potentially the highest paying buyer.

The Best Way to Sell

The best way to sell a property where there is more than one buyer is to use the Buyer's Price Declaration, whereby each buyer declares their best price and conditions, and is advised they may not get another chance to negotiate their offer.

This process gives all buyers an opportunity to make a Buyer's Price Declaration bid for the property. The buyers each sign a contract that clearly states their offer and conditions.

Each buyer makes their best offer privately without knowing the other offers. All offers are then given to the seller. THIS IS A FAIR AND ETHICAL WAY. The buyers get an equal opportunity, and the SELLERS GET THE BEST PRICE and BEST CONDITIONS.

It's so simple and easy; it makes one question the 'elaborate' auction process. Auctions make the buying process hard, so it makes no sense to use a system of selling, disliked by most of the buyers and sellers.

Please be very careful when selling and buying real estate. Most real estate methods are designed to get a sale for the agent, not the best outcome for the seller.

As highly trained sales and marketing consultants, the Tidbold Team guarantee you the highest price.

Remember, if you sell with us you will be safe. We offer you our SMARTRE SALE Strategy which includes a NO SALE, NO CHARGE service with ZERO upfront advertising costs, and of course a written SERVICE GUARANTEE.