Selling a property by auction is a strategic approach that, when executed correctly, can yield outstanding results. However, for an auction campaign to be successful, vendors must have the right preparation, marketing, and strategy in place. This guide will take you through everything you need to know about auction campaigns—from preparing your property for sale to handling auction-day nerves.
What Are the Key Ingredients for a Successful Auction?
Before deciding to sell your property by auction, there are a few essential elements to consider:
- Vendor Motivation – You must be committed to selling and understand the auction process. Auctions work best when vendors have a clear goal and are prepared to engage with competitive bidding.
- Property Possession and Timing – Consider whether your property is tenanted or vacant. While tenanted properties can be sold at auction, a vacant and well-presented property generally attracts more interest unless the target buyer is an investor.
- Pricing Strategy and Market Positioning – Setting an appropriate price guide and aligning marketing efforts to attract serious buyers is crucial. An experienced agent will help you determine the right range based on market trends and comparable sales.
Staging and Styling: Maximising Buyer Appeal
Presentation is key when selling at auction. Here's how you can enhance your property's appeal:
- Declutter and Depersonalise – Buyers want to envision themselves in the space, so remove personal items and excessive furnishings.
- Stage the Home – Professional styling creates an inviting atmosphere that can increase competition among buyers. A modern, clean, and fresh look is best.
- Focus on First Impressions – The emotional connection buyers have when they walk into a property is crucial. A well-presented home encourages higher bids.
What Does an Auction Campaign Look Like?
An auction campaign typically runs for four weeks, with structured open-home inspections and targeted marketing. Here's a breakdown of the process:
- Regular Open Homes – Inspections are scheduled twice a week to maximise buyer exposure.
- Midweek Auctions – Many auctions now take place on Thursdays rather than Saturdays. This avoids competition with other properties and ensures maximum buyer attendance.
- Strategic Marketing – Digital campaigns, social media advertising, and real estate listing promotions play a significant role in attracting buyers early in the campaign.
How to Overcome Auction Nerves as a Vendor
It's natural to feel nervous about selling your property at auction. However, trusting the process and working with an experienced agent can make all the difference.
- Confidence in Your Agent – A good agent understands the market and can guide you through every step.
- Trust the Auction Process – The structure of an auction campaign ensures that everything, from property listing to buyer engagement, happens in a planned and timely manner.
- Buyer Activity in Early Weeks – Serious buyers often emerge in the first two weeks of the campaign, so momentum builds quickly.
Should You Sell with Tenants or Vacant Possession?
Deciding whether to sell a property with tenants in place is a significant consideration. While an occupied home can appeal to investors, it often presents challenges:
- Access Restrictions – Open-home schedules must be agreed upon with tenants, potentially limiting flexibility for interested buyers.
- Presentation Issues – While some tenants maintain a property beautifully, others may not. A vacant, styled home usually presents better to buyers.
- Buyer Competition – Owner-occupiers often prefer a vacant home that's move-in ready. If the majority of your buyers are not investors, an empty and well-presented property is ideal.
If keeping the property vacant isn't financially viable, there are funding options to assist with preparation costs.
Funding Options for Property Presentation
Preparing a home for auction can involve additional expenses, such as:
- Painting & Cosmetic Touch-Ups
- New Carpet or Flooring
- Professional Staging & Styling
For vendors concerned about upfront costs, services like Realty Assist offer funding solutions. These allow vendors to cover staging and minor repairs upfront and pay upon settlement.
For example, in a recent sale, a vendor used this service to:
- Arrange for tenant vacating
- Complete painting and carpet replacement
- Professionally stage the property
As a result, the property achieved a higher sale price—adding approximately $50,000 to the final result.
Final Thoughts: Is Auction Right for You?
An auction campaign is an effective way to sell a property, particularly in strong market conditions where buyer demand is high. By following the right steps—preparing your home, trusting your agent, and ensuring strategic marketing—you can achieve the best possible outcome on auction day.
If you're considering selling your property at auction and need expert advice, get in touch with us today.
EMAIL | newcastle.com.au">hello@c21newcastle.com.au
PHONE | 02 4943 6333
ADDRESS | 155 Pacific Highway, Charlestown NSW 2290