Alex does not recommend the auction process for Luxury Real Estate imless we are operating in a 'bull market'.
Whilst most other agents recommend the auction process, Alex has seen many disastrous auctions for Sellers.
Once a property has been exposed by auction to the market and a price established which is usually a low price, that price then forms the base price for all future negotiations.
Some Agents tell sellers that the auction process brings buyers into the market and that might well be true, but are they NOT the quality buyers looking to pay a fair price for a good property.
Any sales outcome post auction, are are usually based on the passed in auction price and are only a slight improvement on the low price.
Alex has a proven track record in selling using private treaty. Our team are fully trained negotiators!
Our experience is that most Buyers no longer trust the auction process for luxury real estate!