Cairns Northern Beaches Suffer Again From Poor Auction Results

Sellers of premier properties BEWARE!!

"Selling property at auction in regional markets is fraught with danger" says Chris Marsh of Betta Real Estate.

A recent auction at Holloways Beach resulted in an absolute waterfront property that in my opinion, should have realised around $800,000 being sold ‘under the hammer’ for nearly $130,000 less.

A GREAT RESULT FOR THE PURCHASER? YES, AND A GOOD RESULT FOR THE AGENT AND AUCTIONEER.

I feel that I would have achieved a far superior result had I sold the property by Private Treaty and more thoroughly exposed it to the market over seven weeks instead of four in order for a buyer to be found.

Poor results were also experienced at two auctions in Machans Beach where waterfront properties were passed in, but then negotiated to sale by private treaty at the same price or less than the owners had paid two years earlier. This is not a particularly happy place for a seller to be in.

To maximise the result for the seller, there are activities that their agent must undertake that total 100% of necessary effort. Every one of these activities that is not undertaken reduces the opportunity of attaining a result that the seller should expect. These include; but are not limited to: comprehensive marketing, professional quality photography, effective description of the property, making the property available for inspection, presenting the property in its best light at all times, hosting on quality web sites, integrity on the part of the agent and patience on the part of the seller. There is a buyer for EVERY property, but this whole process generally takes longer to work than overnight. The current, average time on the market for a property in Cairns is somewhere around eighty days. Why, I wonder, do agents who promote the auction system, think they can do this in 30 days?

Call Chris Marsh if you are serious about getting the best result when selling your property.

About The Author

Chris Marsh

0427 278 473

Licenced Real Estate Agent

Chris Marsh has an excellent knowledge of the Cairns region, having moved here from Sydney in 1980. Real Estate has always been a passion as well as a profession and his integrity and drive have established him as one of Cairns leading agents.

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