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Auctions - order of sale?

Discussion in 'The Buying & Selling Process' started by marckie, 28th Jul, 2016.

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Is there any method to an auction order of sale?

Poll closed 4th Aug, 2016.
  1. Nah...just luck of the draw

    2 vote(s)
    100.0%
  2. Yep...most interest in a property is listed first

    0 vote(s)
    0.0%
  1. marckie

    marckie Member

    Joined:
    19th May, 2016
    Posts:
    22
    Location:
    NSW
    hi everyone

    a quick question....is there any method to how agents list properties in an auction order of sale? A few years ago when I sold my Sydney PPOR (oh how i wish i could have afforded to hold onto that)...I had a view that the most likely to sell or properties with the most interest were listed earliest in an order of sale.

    This could then generate interest on the day and create excitement in a room. Obviously this applies to auction rooms and not not a single onsite auction.

    Is there any method to the order of sale or just a myth I made up?

    Appreciate your thoughts.

    cheers

    m
     
  2. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,671
    Location:
    Perth
    I have only been to one but it seemed like they kept the good properties for later in the auction. I guess so that people would hang around? I could be wrong about that and it could have been luck of the draw. Also, what was interesting to me might have been on no interest to others.
     
  3. marckie

    marckie Member

    Joined:
    19th May, 2016
    Posts:
    22
    Location:
    NSW
    thanks. methinks there is no real consistent pattern but I was just wondering.
     
  4. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    If anything it would be most interested properties last but I would guess luck of draw.

    Reason I say that it is much better having 10 people interested in the best property hang around to the end rather than a property that has only 1 person interested as the person there knows that they are the only ones interested.. Where as if the least interested property went first and there was 100 people there he would be unable to tell how many are interested in that property and the agents can say we had people there but they couldn't bid.

    If we are talking about offsite auctions within the same agency they will select the time internally but this happens before it hits the market they know the auction date/time and it has already been listed on re.com/domain.