Auctions? Any point now?

[McDuck]

Remember when all houses had a fixed price on them?

Then Immigration and money printing upped the buyers and money supply?

Prices took off, and auctions became the norm.

Due diligence went out the window.

FOMO was stoked.

People mistook paper gains for wealth.

(Thank you MBIE and RBNZ) you will be immortalize in many an economic text book in the future).
Not in a good way in some.
(Tom Cruse will play John Key in the film.)... from action hero to auction hero.

Doh!, sidetrack..

Auctions..

yes, auctions..


But now, (apart for high end, exceptional houses), is there any point to selling via auction?

Expensive and ineffective?

Thoughts?

[Frezzinghot]

Remember when all houses had a fixed price on them?

Then Immigration and money printing upped the buyers and money supply?

Prices took off, and auctions became the norm.

Due diligence went out the window.

FOMO was stoked.

People mistook paper gains for wealth.

(Thank you MBIE and RBNZ) you will be immortalize in many an economic text book in the future).
Not in a good way in some.
(Tom Cruse will play John Key in the film.)... from action hero to auction hero.

Doh!, sidetrack..

Auctions..

yes, auctions..


But now, (apart for high end, exceptional houses), is there any point to selling via auction?

Expensive and ineffective?

Thoughts?

But to answer your question on whether or not you should go to auction, the short answer is, it depends.as you say on locations. Nothing changes at the top end of town

[brokerman]

Radical view here. Unless the property is exceptional or unique or the Vendors circumstances dictate, Auctions favour the buyer and the agent. Why? Because 80% or so of buyers either can't or won't bid at Auction so your best deal on the day is from 20% of a potential buyer pool. Go!

[McDuck]

Radical view here. Unless the property is exceptional or unique or the Vendors circumstances dictate, Auctions favour the buyer and the agent. Why? Because 80% or so of buyers either can't or won't bid at Auction so your best deal on the day is from 20% of a potential buyer pool. Go!

Ha,
Boom.
Drop the Mic.

[Engineer]

Normally the Auction price is set by the second highest bidder at the point they pull out. Not sure it’s the smartest way to sell.

[McDuck]

Normally the Auction price is set by the second highest bidder at the point they pull out. Not sure it’s the smartest way to sell.

That's true.

So what will they report in the papers now?

Number of houses sold at auction is no longer representative of housing sales.

Probably " number of house sale contracts signed" will give the industry some larger figures.. for a while.