Hammer home a good sell

IT CAN attract multiple bidders and there’s a guarantee you get your money once a buyer commits, so are auctions the way of the future for Cairns?

Not quite, says LJ Hooker Cairns Edge Hill principal Ross Moller, but they are a good option in a fickle market.

The business will host its first auction at its Woodward St offices on March 25 at 5.30pm and will bring up auctioneer David Holmes especially for the event.

Mr Moller said he hosted a “very successful” auction on March 2 at which 5 Bligh Cl, Clifton Beach sold for $754,000, well above the reserve.

“There were four registered bidders, which was a great turnout,” he said.

“In this market, there’s a bit of uncertainty about pricing, so we’re just trying to get the best possible result for our sellers, and auctions help with that.

“We’re going to try to hold an auction once a month if we can.

“It’s good for sellers when there is uncertainty about price, because if multiple bidders show up, you might get a SOLD: LJ Hooker Cairns Edge Hill principal Ross Moller. premium and it’s a 30-day cash contract if you sell it.”

There are also benefits to buyers.

“If there is competition, they know where it is. It’s all public and everyone can see what’s going on,” Mr Moller said. “In usual auction processes, another buyer could be offering a lot more and you wouldn’t know. It’s not be all or end all, but some properties suit an auction.”

LJ Hooker Cairns Edge Hill will auction off two vacant blocks of land and homes at Cairns North, Manunda and Brinsmead later this month.

Potential bidders are also invited to use the Gavl app, which streams auctions live and enables participation via smart phones or tablets.