Monday, December 1, 2008

The Auction Process - success or failure

26 November 2008 - 14 Hannan Street was auctioned in the Levin Harcourts offices.

The vendor had paid for a Marketing Package - raising the profile of this property above the majority the property had good profile and was well trafficed through open homes -

There was 1 Bid from the floor and the property was passed in - well obviously the auction process failed the vendor -WRONG!

As a direct result of the auction process this property:
  1. had increased marketing
  2. received more traffic than the majority of open homes in Levin
  3. had three conditonal buyers interested enough to keep in contact with the properties progress
  4. has resulted in a conditional offer being accepted within 5 days of the auction

The vendor has tested the market and the market has responded with an accpetable offer - This vendor has accepted an offer in approximately 39 days - less than 1/4 of the average days on the market for residential Levn.

Is the Vendor happy - YOU BET!

Are the Harcourts Team happy - you bet! The vendor worked with the agent, responded to market feedback and have an acceptable offer.