Finding a good agent who has expert market knowledge and a thorough understanding of the auction process is vital for sales success.

Some spectacular results have been achieved under the hammer since the beginning of 2023 for Adcock Prestige, demonstrating that auctions remain an effective method of sale in any type of market.

Poor clearance rates can be a result of seller expectations not meeting the market, however some of the auction results from the first 4 months of 2023 prove that buyers are willing to pay premium prices for the top properties in the prestige market. The demand from buyers we are seeing right now versus the lower levels of listings on the market, is usually a sign of a seller’s rather than a buyer’s market. The current clearance rate for Brisbane is 67%.

However, just because a property doesn’t sell at Auction, it doesn’t mean that it’s a property that is unsellable. Some buyers are playing their cards close to their chests. They’ll wait to negotiation directly with your real estate agent before making their offer. This all being said, auctioning a property is still the best method to understand where your property falls in the market, and to find potential buyers for your property.

How To Maximise Auction Results

(176 Hargreaves Avenue, Chelmer – Going to Auction on Sat 29th April 9:30AM)

Adcock Prestige recently reported an overall increase in buyer activity, including buyer enquiries which have increased by 37% and buyer activity at Auctions, along with the rise of registered bidders. A rise in auction attendees has also been reported, with an average of 90 Auction attendees, which indicates people are interested and are actively watching the market.

The key to a successful auction lies in choosing an agency which understands the auction process, can educate sellers and buyers, and can effectively progress with a marketing campaign, driving enquiry and competition. Jason Adcock believes in only selling properties through an Auction campaign.

The Prestige Property Specialists from Adcock Prestige understand the dynamics of the local market and possess the experience and contacts to target key demographics to drive enquiries and deliver a focused marketing campaign to maximise the potential for a successful Auction result.

How To Maximise Auction Results

(118 Reeve Street, Clayfield – Sold Under The Hammer for $4,660,000 by Jason Adcock and Elisa McMahon)

The sale of 118 Reeve Street, Clayfield is an exceptional example of how Adcock Prestige excels in the Brisbane prestige market. 118 Reeve Street, Clayfield sold for an outstanding $4,660,000 under the hammer in January – when the Auction clearance rates were at a low of 42%. Attracting a large crowd, there were 232 Auction attendees, a spectacular 15 registered bidders and it was only on the market for a short 17 days. The sale set a street record for Reeve Street in Clayfield.

If you would like to know more about the auction process, please reach out to one of our Prestige Property Specialists today.