Ewan's Blog

Trust the process.

Wednesday 07 Oct 2015

Auction. I talked about it last week and I am going to talk about it again this week because I think it's important. Auctions grab the headlines when the market is hot but appear to lose their lustre as soon as those headlines start talking about dropping clearance rates. Don't be fooled.

Auction is the way to go in nearly every situation.

I recognise there is a degree of nervousness across the market at the moment. After such boom times any easing of demand inevitably leads to speculation around 'what happens next'.

Uncertainty creates a tendency to pause. To hold your breath and wait. To watch and see.

And that's where an auction campaign really works.

It is the ultimate platform that allows everyone to see exactly what's happening. Right then and there. It creates an opportunity to allay fears and drive decisions that will deliver the best possible outcome. With the auctioneer standing out the front the process is clear and every move is on display for all to see.

Sure, it doesn't always generate a result under the hammer on the day. Sure there has been a drop in the clearance rate over the last month but remember the percentage figures eagerly reported in the news on a Monday morning doesn't take into account the proportion of post-auction negotiated sales.

Even if it doesn't happen under the hammer an auction is the most transparent way to secure a sale by bringing the parties together and forcing them to put their cards on the table for negotiation.

Trust the process. Auctions work.