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Is auction right for every property?

Video Transcription

While there are little or no auctions being conducted over the break we will take the opportunity to run a series that looks at how auction is run, the role of both the auctioneer and the agent, bidding strategies and lots more.

The series will feature Phil Parker, Veronica Morgan and Matthew Hayson.

In this episode we discuss:

  • Does auction work in a street where all the houses are the same?
  • Hypothetical – if I have 3 identical items and auctioned them one after the other, why would someone pay more for the second one than the first one and more for the third one than the second one? What is the psychology?
  • Do in room auctions work better than onsite for the agent and/or the seller and why?
  • Why is so much emphasis placed on where the property is in the order of sale at an in-room auction. Does it make any difference?

With thanks to Real Estate Talk – the only place where you hear all Australasia’s leading property experts. 

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