Sale By Auction Service
If you have found your dream property, it is being sold by auction, and you are unsure:
- if the advertised price guide is realistic;
- how to bid at auction so as to secure the property as the winning bidder;
- how to not become emotionally carried away in the auction frenzy;
- how to bid at auction without bidding above your budget cap limit;
- how not to be ripped off in the entire sales process.
If the above rings true for you then our individually tailored Sale By Auction Service will allow you to confidently secure your chosen property at auction. Our Sale By Auction Service is a specialist Evaluation and Negotiation Service geared toward purchases via auction. This service consists of five strategic elements:
Initial Consultation. Understanding Your Property Needs
In our initial meeting we will gain a feel for your what, where and why of property. As real estate Buyers Agents Sydney it is important we address the following questions during our initial meeting. How long have you been on the market to purchase property? Is this the first property you have focused on buying? If not, what properties have you bought before or attempted to purchase? Have you ever attended an auction? What is your budget? Has your finance (if relevant) been pre-approved? The initial meeting allows us to gain an understanding of your property desires, motivations and personal situation as your potential property Buyers Agent.
This meeting is a time for us to listen and for you to ask as many questions as you wish. We are happy to advise, guide and provide our expertise so we each may gain a sense of our fit as a team. After all, a trusting ‘agent buyer’ relationship is integral to our mutual outcome success. This meeting is also a time for you to gain an understanding of the auction process and for us to provide you with information on our services, fees and other information of interest. Lastly, it is a meeting where, in essence, you get a feel for whether you like us and our methods (or not 😊).
Service Engagement. The Official Agreement
Once we have decided we would like to work together as a property buying team, we each complete a Buyers Agency Agreement (BAA). Once we receive your signed BAA and our service fee our real estate buyers advocate work for you then begins in earnest. From this moment on you are in safe, friendly expert hands.
Please note, it is advised that you have finance secured or pre-approved at this point. This is so we don’t encounter any financial hiccups down the track that may cause difficulty with your purchase. We wouldn’t want that for you!
Briefing. Fine Tuning Our Strategy
Imagine sitting across from a university educated property professional who can almost read your mind and pinpoint exactly what is required in your unique circumstances. This is what our clients have noted about Kitty when they interact with her. “She listens intently and clarifies to ensure we are on the same page.” Once you’ve formally engaged our services we’ll work through a detailed property brief together. We will determine your precise goals and outline our strategies to meet these goals thoroughly, yet efficiently. You will be provided with a chance to ask any questions you may have and to be provided with any further information you may require to feel comfortable with our chosen direction.
Research and Analysis. High Quality Data and Financials
At this stage in our Sale By Auction Service we conduct a detailed, high level, objective market analysis to determine the current market worth of your chosen property. With access to advanced statistics and data methods, agent-only databases and comparable sales, we are able to determine an appropriate real-time price guide for the said property. This ensures you don’t overpay for your desired property at auction or otherwise experience emotion clouding your judgement in the auction process.
You will receive detailed property information sourced from our advanced methods, RP Data and associated property research portals. Such information shall include (but not be limited to): time on the market, forecast capital growth potential and estimation of rental yield, current real-time property value estimates, comparable sales and rentals, prior sales and rental history, and current marketing campaign edits such as price changes, sales method amendments and likewise.
From our thorough advanced research and analysis of your chosen property we will formulate a recommended auction strategy in consultation with you. With your input we detail a course of action that ensures we acquire your desired property quickly and at the absolute lowest price possible on auction day.
Please feel confident our methods are cutting edge and the information we provide regarding auction strategy and auction day pricing is unparalleled. This is why we have a 94% success rate at auction on auction day – we take pride in being experts at what we do. Our expertise allows us to advocate for you, our client, at the highest level possible.
Acquisition and Settlement. Expertise in Closing the Deal
In consultation with you we will formulate our auction plan and, on auction day, we will bid at auction on your behalf. Throughout the auction process we will liaise with the auctioneer, sales agent or vendor on your behalf and consistently have your best interests at heart as our client. We will set forth to secure your property as efficiently as possible, for the lowest possible price, on auction day.
In the lead up to auction day we will liaise with your conveyancing solicitor to ensure the contract of sale is reviewed thoroughly and confirm all required due diligence has been completed. Should you require, we are also happy to assist in the coordination of due diligence aspects such as strata inspections, as well as building and pest reporting. We are also able to coordinate correspondence with your financier to ensure all parties are on task for a smooth auction day experience. Our attention to detail whilst due diligence in undertaken means you don’t have the burden of worry of stress.
On auction day our strategy is applied during the bidding process, as we aim to secure your property smoothly and at a price you are very happy with. Should you be the winning bidder we will guide you through the post-auction process and maintain contact with you until final settlement, to ensure all is running according to plan.
If required, we are happy to conduct a pre-settlement inspection on your behalf, to ensure all inclusions are intact as per the contract of sale. Once settlement has taken place we close off any remaining queries you may have. Ensuring your peace of mind is our business.
Should you require further services past settlement, such as renovations, styling or refurbishments, we can assist with that too. Please visit our Upgrade Works Service Hub for further details on the additional services we may offer you, the property buyer, after settlement is completed.