Generally speaking, the auction process has limited acceptance on the Sunshine Coast. Historically, clearance rates as measured by pre and at auction sales hovers around 20%, a very low rate.
Only 1 in 5 sell without a price, which is supposed to be the big advantage of the process.
Sales results in Mount Coolum have received a big boost over the last 12 months from the long term average as detailed below. This is based on a small number of sales, mainly because of distressed sales in the new up market estate of The Boardwalk, and very aggressive price marketing of the agencies involved.
The key is not that a sale took place, but at what price?
Marketing has consisted of headlines designed to attract the "scavenger" and "bargain hunter" familiar with the process and cashed up, a very limited segment of the market and not offering true market sentiment.
To advertise aproperty with headlines such as "Bargaiin hunters welcome", "Owners seek immediate action", "Home required to be rescued from neglect", "Make an offer", "Interstate owner says sell" all scream give-aways, which is what eventually occurs.
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Sounds like auctions are no brainer for the scavengers -can you believe copy reads lines
ReplyDeletelike "Bargain hunters welcome", "interstate seller must sell". " Make an offer". If this is not give-away territory, everybody is a monkeys uncle!!
Absolutely agree that copy headlines such as reported do irreparable damage to the end sales results - buyers get such a poor value of real value i\they pass up real valeus
DeleteWhat is it with these guys who say auction is the way to go and then report a huge loss on purchase. Are they actually working for the seller, or just to get a sale to earn commission at any price
ReplyDeletePurchasers could be perfectly advised to keep an eye of the most notable deduce on the market considering that selling prices consist of knowledgeable appreciably within this area within the last few couple of number of time period.
ReplyDelete