At a time when bigger issues are dominating the housing discussion, auctions are proving an effective means of cutting through the noise to achieve a clean transaction.

Hype surrounding interest rate rises and the slew of policy promises touted ahead of last Saturday’s election are a distracting sideshow for those attempting to put an accurate price on property, to buy or to sell.

From a seller’s perspective, an auction avoids both over-pricing and under-selling your property, and the direct market feedback provided during an auction campaign adds valuable education to your decision-making.

Buyers also benefit from a transparent sales process whereby the competition is right there in the room (or on the phone) with you and everyone has a fair chance to put their best price forward.

Kollosche’s auction clearance rate sits at 88% for the calendar year to date. Residential properties that go to auction through Kollosche are achieving on average up to 8% above the vendor’s reserve and some as high as 19% over reserve.

Bidding was spirited at last Friday’s auction of 90 Monaco Street, Broadbeach Waters where eight bidders registered to purchase the five-bedroom waterfront holding on 655m2 in a campaign led by Jay Helprin and Michael Kollosche.

A NSW buyer claimed the keys with a winning bid of $2,890,000 in a result that exceeded the vendor’s expectations. Feedback post-auction suggests some potential buyers did not register to bid based on external speculation that put the likely price in a much higher range.

The transparency of the auction process makes it easy to understand where buyers see value and ensures that a property sells on its merits in any market.

There is no one-size-fits-all approach to selling property, of course, and auction isn’t the only strategy achieving standout results in the current market.

Three local buyers put forward competitive offers for a Bayden Goddard-designed new build at 12 Freyburg Street, Sorrento resulting in a new street record of $6,600,000. That campaign was led by Eddie Wardale who notes the strength of local buyers with an appreciation for location, aspect and quality.

The $5,400,000 sale of a modern three-level house at 42 Albatross Avenue, Mermaid Beach settled on Tuesday following a campaign by Eoghan Murphy and Michael Kollosche. The sale price is the highest on record for a single non-beachfront residence in Mermaid Beach.

If you are looking to sell in the months ahead, reach out to the team who can map out the best strategy to achieve a premium price for your asset.