Cush for Comment – October 19th

I was out for a stroll with the boys last Sunday when a local friend, who I
have known for years, stopped me to share the sad news that her mum had
passed away.
She wanted to know which local agent she should contact to sell her house.
I knew the house well and I knew it would be very popular.
I gave her a few names and said that if she decided to auction it, I love to
swing the gavel out the front.
Surprisingly they hadn’t considered auction.
Her response was: ‘we know the property will be popular and will likely
sell itself, so we don’t think we would need an auction’.
I used to hear this sort of response a lot, but I haven’t heard it for a long
time.
It’s an old view that auction is for the 3 Ds: Death, Divorce or D-Bank.
But that has changed significantly over the last 20 years.
Today, auction is the method of sale for nearly every style and situation,
when someone is chasing their maximum price.
I said to my friend: ‘Once understood, auction is the simplest and most
transparent way to sell and buy real estate’.
I went on to explain that I agreed she was going to have lots of buyers
interested.
That the reason she should sell by auction was because of the open
competition between those bidders.
It’s only through that competition that she can truly see that every buyer,
has every opportunity to see the other bidders prices and have an equal
opportunity to beat them or miss out. This is how you achieve your
maximum price.