The Big Call set to launch an­other month of auc­tion frenzy

Western Suburbs Weekly - - Liftout: News -

FOL­LOW­ING the suc­cess of last year’s auc­tion ex­trav­a­ganza, Ca­porn Young will hold “The Big Call” again this spring.

The event will see dozens of prop­er­ties pro­moted to­gether and auc­tioned over four week­ends from Oc­to­ber 15 to Novem­ber 15.

Ca­porn Young as­so­ci­ate di­rec­tor and auc­tion­eer Phil Hayes said the ben­e­fit of The Big Call was in the huge amount of in­ter­est it would gen­er­ate from buy­ers, as well as the tim­ing, which co­in­cided with the busiest time of year in Perth’s real es­tate mar­ket.

“The event pro­vides sell­ers with a com­pletely unique op­por­tu­nity to max­imise the im­pact their prop­erty has on the mar­ket,” he said.

“This is a time when buy­ers are very ac­tive, add in the large amount of pub­lic­ity sur­round­ing The Big Call, and you have more ready-to-act buy­ers' eyes on your prop­erty, and more bid­ders com­pet­ing to own it.”

Mr Hayes said the trans­parency of the auc­tion process helped give buy­ers the con­fi­dence they needed to make a pur­chase.

“There’s still some resid­ual nerves about Perth’s real es­tate mar­ket, but an auc­tion is very re­as­sur­ing to buy­ers be­cause they are never left guess­ing,” he said.

“They can see the peo­ple who are bid­ding against them, they know the lead­ing bid ev­ery step of the way, and they are told when the bids reach the re­serve price.”

Mr Hayes added that sell­ers ben­e­fited from the ease of know­ing the sale was cash un­con­di­tional once bid­ding ex­ceeded the re­serve price; when the ham­mer fell, their prop­erty had sold.

“The dead­line of the auc­tion date is also a great mo­ti­va­tor,” he said.

“It cre­ates a sense of ur­gency that brings de­ci­sive buy­ers to the ta­ble within a short time­frame.”

Mr Hayes said a re­cent Ca­porn Young auc­tion in High­gate was a good ex­am­ple.

Four bid­ders com­peted to own the three-bed­room cot­tage.

“Pre­vi­ously, this prop­erty had lan­guished on the mar­ket for 119 days with an­other agency,” he said.

“By us­ing the auc­tion method, we were able to sell the home sub­stan­tially above the ap­praised price, within the three-week auc­tion sched­ule.” ■

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.