The steps you take to prepare a property for auction can significantly impact the final sale price. From setting a competitive reserve to making the property visually appealing, there are several steps you can take to maximise interest and ensure a smooth process.
Setting the right reserve price on your property for auction
The reserve price is the minimum amount you’re willing to accept at auction. Working with your agent and auctioneer, determine a realistic reserve that aligns with your property’s value and market conditions. An attractive reserve helps draw in serious buyers and creates a more competitive environment on auction day.
Enhance curb appeal
First impressions matter, especially when preparing a property for auction. A well-kept exterior invites potential buyers from the start. Small improvements, like a fresh coat of paint, manicured landscaping, and minor exterior repairs, can greatly enhance curb appeal and set a positive tone before anyone steps inside.
Prepare the interior
Decluttering and depersonalising the interior helps potential buyers envision themselves in the space. Keep things clean and organised, and consider professional staging to highlight the best features of each room. Simple touches, such as fresh flowers and well-placed lighting, can make the property feel warm and inviting.
Organise a building and pest inspection report
A building and pest inspection report reassures buyers about the property’s condition, helping build confidence in their bids. Offering this report before auction day shows transparency, which can lead to more competitive bidding and a higher final price.
Marketing effectively is essential for preparing your property for auction
Effective marketing is essential to attract a broad audience when listing a property for auction. In addition to listing on popular platforms, consider social media and local ads for extra exposure. Quality photos, accurate descriptions, and even virtual tours can showcase your property to a wider audience.
Set a clear auction date and notify your agent
Choose an auction date that allows your agent sufficient time to market the property effectively and maximises buyer turnout. The right timing can contribute to an active bidding environment and increase the chances of a successful sale.
Work with an experienced auctioneer when list your property for auction
An experienced auctioneer can create excitement on auction day, engaging potential buyers and fostering a lively bidding environment. With the right auctioneer, you can expect professionalism and skill, which can impact the final sale price.
Preparing your property for auction is all about creating the right impression and maximising interest. From setting a strategic reserve price to enhancing the appeal of your home, every step you take can contribute to achieving the best possible outcome. For personalised guidance, reach out to our team for expert advice.
Disclaimer: This article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.