Welcome to the Selling Southport Podcast. I'm Andrew Wright, principal of Professional Southport since 2008. Real estate isn't just my career, it's my passion with decades of experience. I know what it takes to succeed in the property market. Especially here in Southport, whether you're looking to buy, sell, lease, or invest, you can count on me and my team to deliver strategies that maximise your returns.

Let's dive into today's episode and get you one step closer to your property goals.

Hi, I'm Andrew Wright from Professional Southport, and welcome back to Selling Southport. Today we're chatting about one of the biggest questions I get asked from sellers, should I go to auction or market my property with a price? It's a great question, and the answer really depends on a few key things, the type of property you're selling, the current market conditions, and of course your personal preferences and timeline.

I'll walk you through how both options work, the pros and cons of each, and share some Southport specific insights. This isn't a one size fits all decision, but by the end of this episode, you'll feel much clearer on which path might be right for you. Let's start with auctions. An auction is a public sale.

It's held at a specific time and date, and buyers turn up either in person or to bid online the goal competition, you set a reserve price, the minimum you're willing to accept, and if bidding reaches that, the property sells under the hammer. The sale of property by auction is an effective and successful method for achieving a premium price for your property in a short period of time, usually three or four weeks.

The auction method of sale is the most successful with lower average days on market than any other marketing method. Buyers are focused to compete against each other instead of against the seller, as happens in private treaty negotiations with a price. If you only get an extra 15,000 above what you expected, that can still go a long way to paying your agent's commissions.

Auction gives the seller three opportunities to sell prior to the auction date, on the auction date and after the auction date. Should the property be passed in a large number of homes that are passed in usually sell within 14 days. With buyers who attended the auction but couldn't satisfy the unconditional nature of the auction contract, that might mean they needed to include a condition for finance or a building in pest inspection.

The auction process by its very nature, creates a sense of urgency. Procrastination and indecision are eliminated. The advertised date of sale. Forces prospective buyers to act, to arrange finance, carry out searches and inspections, and attend the actual auction or risk missing out. There's no cooling off period, which avoids the possible rescission of the contract within five working days.

An auction contract is unconditional in every regard, including no finance or building and pest clauses. By selling at auction, the sellers have absolute control of the selling terms and conditions. You can stipulate settlement dates, deposit amounts, and you know you've got an unconditional contract at the fall of the hammer.

The deposit is paid and contracts assigned immediately. You can make your plans with peace of mind. Now in places like Southport, we've seen strong demand over the past 12 months, especially in tightly held streets near the TSS school precinct and Shern park where buyers are often emotionally invested.

That emotional buy-in is what drives great auction results. And if you've got a property with unique features like water views, dual living, a big block of land or even a renovation opportunity and auction can bring out serious competition. So let's summarize some of the benefits. Auctions create urgency.

Buyers have a deadline and they know they have to be ready to act. You get a short, sharp marketing campaign of usually three to four weeks. There's public transparency. Buyers can see the competition. You get the real time market feedback. The auction contract is unconditional, and if it doesn't sell on auction day, we have valuable market feedback and we're able to recommend a marketing price and move to plan B.

The energy of an auction can push buyers to go further, especially when they fall in love with the property. But of course, there are a couple of drawbacks to consider. One, it can feel stressful, especially if it's your first time. It's not ideal for all properties, particularly tenanted homes or those needing major renovation, and in some cases, body corporates don't permit onsite auctions.

So when do I recommend an auction here in Southport? I usually suggest an auction campaign if your property is in high demand, such as a house close to TSS or in the Shern Park area, if it's unique or difficult to price. If it's a character home or development site, you want a tight timeline with a clear sale date, you're ready to create competition and push for a premium result, or in a deceased estate or morgaine possession scenario.

We've seen some homes around the TSS precinct, Shern Park, and even parts of Southport Park go to auction and exceed seller expectations because buyers didn't wanna miss out. In competitive markets like Southport Auctions can unblock a price you might not get with private treaty negotiation. Now let's talk about private treaty sales.

A private treaty sale is more flexible. There's no public bidding. Instead, we list the home with a price or price guide. I. And handle offers as they come in. You do have more control over the timing. You can negotiate behind the scenes and the process feels a little bit more low key. It's often a great fit for sellers who want privacy or flexibility, homes that have tenants in them properties that might need more time to find the right buyer.

And sometimes if the market's softer or more price sensitive buyers can feel more comfortable negotiating privately than bidding publicly. Here's a few pros of the private sale from day one. It opens up buyers subject to finance. It attracts buyers who prefer to see a price guide before inspecting. It provides more time and control over the process with less pressure, which can work in your favor.

You can entertain offers and even sell off market. On the flip side, private sales can take longer. You might not get the same competition as you get at an auction, and it can be harder to know if you've truly hit the ceiling on the maximum price. Private sale gives you more control, but auctions provide the heat.

So what's the right strategy? Well, it really comes down to your property, your priorities, and the current buyer energy in the market, choosing between auction and private sale. It all depends on your property and the competition in the Southport market. Here's how I help sellers decide. We look at recent sales, whether they sold by auction or private treaty.

I. We consider the home's condition, appeal, location, and whether it's tenanted, and we talk through your goals. Do you want speed, privacy, or the maximum price? The best strategy is the one that matches your needs and the market, not just what worked for someone else. If you're thinking about selling or you've already started planning, I'd love to help you work through the options whether auction or private sale ends up being the best choice for you.

I'll make sure you've got a smart, tailored strategy based on real data, local knowledge, and over 20 years of experience right here in Southport. Thanks for tuning in. I'm Andrew Wright, and this has been Selling Southport. See you next time. Thanks for listening to the Selling Southport podcast. I hope today's episode has given you some valuable insights and practical advice on the local real estate market.

Whether you're looking to buy, sell, lease, or invest, I'm here to share my extensive experience and guide you every step of the way. If you have any questions or want to discuss your next property move, don't hesitate to reach out. Your success is my priority. Stay tuned for more expert tips and updates on the Southport property scene.