Many Gold Coast properties are sold before the auction as buyers scramble to secure their dream home.
The agent reports a record inquiry with a seller who was given an offer that was too good to reject a contract signed a few weeks before the scheduled auction.
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Dane Atherton, managing director of Harcourts Coastal, said the number of properties sold before the auction with the agency has doubled since June.
“The urgency and competition to secure real estate has jumped to 40% of previously sold real estate (at auction) in the last three months.
“It’s almost half of what we sold before.”
According to Atherton, auctions usually have three consequences: a buyer who makes a short-up offer to secure a property before the auction, an actual auction where the property is sold with a hammer, or a property that sells after the auction.
“The reason it’s so popular at the moment (sold before the auction) is that many buyers don’t want to miss it, so they offer the best offer before the auction to avoid competition.” Atherton said.
“Facetime buyers of interstate highways are often more comfortable not competing with other buyers.
“The other has to do with the seller.
“If you get a good enough offer, you don’t have to wait for it.”
His agent, Katrina Walsh, recently sold Mudgeeraba’s mansion for a record $ 4.6 million, much earlier than the planned auction.
Javill Estate’s two-story, seven-bedroom home was on the market less than a week before the raid by local buyers.
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“We were flooded with inquiries from expatriates, interstutters and locals,” Walsh said.
“Local buyers were fascinated by architecture, greenery and privacy.”
However, Atherton said there was still time and place to go through the scheduled auction.
“If there is a lot of interest in auctions, there are definitely benefits to the buyer as well as the vendor,” said Atherton.
“Pre-auction sales only work if everyone has the opportunity to make an offer.
“If you have a lot of offers, it’s difficult to sell in advance when you return to 20-30 potential buyers.”
Ray White Lanaway Bay Group Principal Arimian also reported a series of properties sold before the auction, with some homes attracting some offers.
“We got off to a great start this month,” Mian said.
“The clearance rate of the auction is good, but many properties are sold before the auction.”