Having a plan if your property doesn’t sell at auction
By Advantage Property | 21st Nov 17
View Frank Valentic's commentary in this Hayley Goddard article.
Frank Valentic was recently interview in this article about having a plan if your property doesn't sell at auction.
With an influx of property this time of year and timings close to Christmas we believe it is important that you have a strategy or plan in place if your property passes in at auction.
Mr Valentic said the emotions on auction day tended to generate a better price and it was important for vendors to be willing to negotiate immediately after a property passed in.
“We had a property a while ago in Ascot Vale that passed in at $860,000 — the owners were hoping for $1 million,” he said. “Our recommendation was for the owners to revise and they
got $990,000.
“If we didn’t get there, I would have recommended that they get to $950,000 and get a deal done on the day while the auction is hot."
Timing is everything at auction. To view the full article click here.