Why You Should Sell Your House On Auction

Are you considering to sell your house on auction? If so, you have chosen an alternative selling method that is often overlooked and one that can be a highly profitable way to get more than the market value for your property. In this article, we’ll explore the benefits of selling your house on auction and dispel some common myths about the process.

Myths Around Selling Your House On Auction

There are several myths about selling a house on auction that can discourage potential sellers from considering this option. Let’s examine some of these myths and the reality behind them:

Myth: Selling property at auction is a desperate last resort.

Reality: A well-managed property auction can often result in a higher return than the base market value of the property.

Myth: There must be something wrong with the property.

Reality: Auctions are in fact one of the best ways to market and sell high-end luxury homes to an appropriate audience. If the property is in a sought-after area, an auction is almost guaranteed to result in a higher selling price than a traditional sale.

Myth: Auctions are complicated and only for the experienced.

Reality: Auctions have become increasingly accessible, and there are many resources available to help familiarise yourself with what to expect ahead of time.

Once you look beyond these myths, deciding to sell your house on auction becomes a much more attractive proposition. But what type of auction is best suited to selling your property? The main decision you will have to make is between an online auction or an in-person auction. Here are some benefits of each type:

 Sell Your House On Auction Online: Benefits

You can participate or spectate from anywhere in the country, eliminating the need to send a proxy and allowing you to follow the auction proceedings in real time.

Online auctions tend to attract more buyers with larger budgets since they eliminate the need for a travel budget and are generally less disruptive to your work life.

Online auction sites run on a community of trust built on a rating system for both buyers and sellers, which helps ensure you only deal with reliable buyers while avoiding those who have shown themselves unreliable in the past.

Sell Your House On Auction In Person: Benefits

Unlike an in-person auction which would usually be conducted on the property itself, an online auction requires showing times for potential buyers prior to the auction, with the possibility that interested buyers might not be able to view the property prior to the auction. When done in person, participants have the opportunity to thoroughly inspect the property.

In-person viewing has the advantage of thoroughly inspecting a property and its unique features that could prove difficult to appreciate in photos or videos alone.

The sense of competition is livelier in person, and might drive the selling price a bit higher than in an online auction.

If you decide to sell your house on auction, it’s important to work with a reputable auctioneer who has experience in facilitating auctions. At Dynamic Auctioneers, we have over two decades of experience in facilitating stellar auctions and can provide expert assistance to make your selling journey an enjoyable one. Whether you want to opt for an online or in-person auction, we can help you get the best return for your investment.