Real estate agents in Western Australia have been too slow in adopting auctions as a sales method, one industry pundit has claimed.
Harcourts’ Central Office associate director Phil Hayes said many of the state’s real estate professionals continue to neglect the benefits of selling at auction and at times even fail to offer vendors the opportunity.
“It seems that sales consultants are either not trained in the auction method of sale or don’t practise it often enough, and as a consequence vendors are often not given the option of selling via auction,” Mr Hayes said.
“I believe that sales consultants need to explain the idea of selling by auctions to their vendors, as the auction process has so many merits.”
According to Mr Hayes, vendors and agents that use auctions as a sales tactic can reduce the time a property sits on the market by as much as half.
“Auctions bring about a specific sales deadline and act as a call to action for buyers,” he said.
“REIWA statistics show that the average days on market for Perth were 76 during the March quarter, while auction days on the market were 43 for the same period.”