We’ve all seen those listings that promise that a property will be sold on auction day or before, haven’t we?
The question is: will it really be sold before auction?
There are many tools in a selling agent’s kit-bag and one of the most successful is to create competition for a property.
More competition means a higher price after all.
So, if an auction is the best strategy to create competition amongst buyers, why would a vendor sell the property beforehand?
Here’s the thing: as well as creating competition, an auction also sets a deadline for the property to be sold.
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