Real Estate
31 July, 2025
Auctions offer effective sale results
THE auction process is without a doubt, one of the oldest and most respected methods of selling real estate and it can be a very effective way to sell both residential and commercial property when executed well.
For those of you who are new to the auction process, it really is about a lot more than just one day, even though it’s exciting to sell it on the day of the auction, the main reason to sell this way is to create as much buyer interest as possible, collect unbiased market feedback, so that the vendor can sell with confidence.
Unlike the southern markets of New South Wales and Victoria, the price is removed from the advertising as legislation forbids agents to disclosure a price guide when selling by auction in Queensland.
This creates an exciting environment for buyers who must do their own research to determine what they think will be a “fair market price”, but most importantly the buyer must work out “how high” they would go, and “how much” they are willing to pay competing against other buyers to secure the property.
At a time when the market is still low on stock, and prices continue to rise, it’s also a great way to sell property to ensure you are not underselling your home.
During Covid we saw prices rise quickly between 30 and 50 per cent and a lot of owners probably didn’t realise they may have been able to achieve a lot more.
When you are thinking about selling it’s important to discuss both traditional for sale and auction methods. If an agency only specialises in one style of selling real estate, it might be a good idea to get a second opinion.
Sean Thorpe, sales director, auctioneer and founder of Paradise Property Group
