Harcourts Platinum has pioneered the non-Distressed Auction selling method in South Africa.  In truth, it’s not really a “new” way of selling property.  Auction has been used for decades in Australia and New Zealand – and it’s now available to clients of Harcourts Platinum – the #1 Auction Office for Harcourts South Africa.

Unlike the old-fashioned “distressed sale” action used by some companies, this modern auction method of sale is for non-distressed sellers.

What does that mean?  It means that sellers who use the Harcourts auction method are not under pressure to sell – they are simply using a tried and tested selling method that attracts potential buyers to the property, not the price, and that allows buyers to compete for a property and make their best offer.

We ensure the property is properly marketed using the most powerful marketing resources at our disposal – and ensure buyers from everywhere are attracted to the property.

An auction date is set, usually about 4 weeks from the initial listing, and this deadline ensures that, if buyers are interested in the property, they make a decision by the auction date, if not sooner.

It’s not uncommon for us to take multiple offers before the auction to present to the seller.  In fact, the majority of auction properties (over 90%) sell before auction.  The fact that there is a deadline ensures that buyers are motivated to make their best offer, not their lowest offer.

The seller remains in complete control of the process.  If an acceptable offer is not received prior to Auction, then the auction is held as scheduled.  The transparent bidding process means that buyers know exactly what interest there is.  Buyers understand the terms and conditions prior to the auction and the process is simple, clear, and completely transparent.

On the rare occasion that a property has not sold by the Auction Day, it’s then listed at a price that the seller sets, based on current feedback from the many buyers that will have viewed the property.

The result is that over 93% of our Auction properties sell.  We’ve used this selling strategy across multiple price ranges, including a number of Erinvale properties.  In fact, we have the strongest success with Auction when used to market and sell luxury properties – especially if there is very strong buyer demand like there is in Erinvale.

For more information on how to sell and how to buy and auction property, click here.