Property Buyers Agent and Real Estate Agent/ Auctioneer- Should Every Property go to Auction?

Property Buyers Agent and Real Estate Agent/ Auctioneer- Should Every Property go to Auction?

November 7, 2019 1 By Luis Garrison


– Hi everyone, it’s Sue here
from Scott Properties Group. I’m joined again today with Adrian Kirwan, who is a real estate agent and
auctioneer here in Brisbane. We’ve taken the liberty of
coming back to our favorite spot, which is at the top of Kangaroo Point, and another beautiful day
in gorgeous Queensland. So Adrian, a question I’m gonna ask you, and I probably know the
answer to this already. (Adrian laughs)
But I’m gonna ask it anyway. – Go on.
– Is, should all property go to auction?
– Look, as an auctioneer, I think I’d be thrown
out of the fraternity if I didn’t say yes, of course it should. Me personally, I’ve always believed that every property is unique
and every property, let’s go this way, if
you’re selling a unit that’s in a block of units and the one next door’s
just sold for a price and the one beside it’s just sold for a similar price than the next one, do you need to auction that property? There’s arguments for yes and no. – Yes and no.
– Me personally, I would say you should be able to gage where it is. If you have a unique property that’s, say, here at Kangaroo Point
on the beautiful cliffs and we’re overlooking the city and you know that the
interest is going to be huge, definitely take the property to auction. Every single property has
the right to go to auction and every single property is unique. It’s really up to the agent
and the amount of buyers that they believe that they could generate by taking that property to auction and the price that they could generate. – So on the whole, when
you’re looking at a property, across the board, do you find that there’s certain properties that really do not benefit
from going to auction? – No, not at all.
– So they all have a value? – They all have strengths and weaknesses. It depends on the agent and the area and to what you have to
know what your area’s doing and you have to understand
what that market is doing. So like I said, if you’ve got a two bed, one bath, 70s style unit, but in that area there’s a
very strong demand for that, why wouldn’t you take it to auction? Same as if you’ve got a house in the middle of New Farm at the moment, of course you’d take that one to auction. It just depends, and the agent
should be able to tell you what the buyers are doing in your area, what the market’s doing in your area. That’s what should guide you as to whether the property should go.
– As to what we want to do. – Definitely.
– So on average, just as a ballpark figure,
out of the market currently, say, how much, or what percentage, do you believe of
properties do go to auction? – Oh, too hard to say, there’s that many properties
that come on and go on. We look at clearance
rates more than anything. But the other thing too is that, I will give you one tip, is always ask, before an agent asks you to
take your property to auction, ask them how many properties they have actually auctioned.
– That’s a good one. – The reason a lot of properties, and people are very
negative about auction, is that agents will pitch auction who have never done auctions before or don’t understand auctions. If you have someone that comes through and says we think you should do that, they should quite quickly
be able to say to you when was your last auction? How many auctions do your
office conduct regularly? That would be the number one question. Once you’re comfortable
with that and believe that that would achieve you the
better price, then definitely. If the agent thinks it’s good to go, I’d back them every time. – Okay, thank you, really, for that. – Thanks, Sue.
– That’s great. Okay everyone, so here we are, just about to finish off
this particular video. I hope you enjoyed that. I think there was a lot
of information there, probably need to look at it a few times. But in the short time, bye, and we’re catching up with Adrian again in a couple of weeks time with another interesting set of questions for him. Thanks now, have a good day. Bye.
– See you.