With Sydney’s auction clearance rate hovering around 71% vendors and real estate agents are making sure their auctioneer is not just up to scratch, but exceptional in order to achieve a great result. Recently, economists at investment bank UBS noted that house prices are set to grow more slowly, rather than drop, due to very low interest rates and growth in population. This is good news for vendors, and on the back of the news that there has been no real winter slump between the autumn and spring markets, Sydney’s strong market continues to roll on.
With almost 500 auctions listed this previous weekend compared to 371 this time last year, vendors are competing with more listings which makes the role of the auctioneer even more important. Also interesting is that there has been $22.6 billion in residential lending approved over the first five months of this year in NSW which is 24.3 per cent higher than that recorded over the same period last year. All of these insights point to a continued strength in the real estate market.
Auction is still very much the preferred method of sale in Sydney’s real estate market, and sales teams only get one shot at it, which makes having a great auctioneer vital. A great auctioneer can be the difference between a good result and a fantastic result. Their role is to create excitement and confidence among buyers, calm any nervous or first-time bidders, and deliver a strong result for the vendor.
A great auctioneer:
• Makes buyers comfortable
• Is confident and assertive
• Builds excitement
• Respects bidders and viewers
• Has excellent presentation
Above all, an auctioneer needs to be engaging and capture bidders’ attention, without being aggressive – any potential buyer who feels that they are being squeezed will walk away.
Regards,
Paul Crawford
Crawford Auctions