The Auction Festival 2024 - Harcourts Queensland

THE AUCTION FESTIVAL 11 FEBRUARY 2024

THE AUCTION FESTIVAL There is no doubt the real estate market has seen significant change in 2023. Rising interest rates and falling equity markets have spurred caution amongst buyers and led to questions about the future of the market.

Exclusive to 100 Brisbane properties, astute sellers are taking advantage of the opportunity to showcase their property to hundreds of cash unconditional buyers. Buyers they would never meet as a standalone auction.

Despite these challenges, when it comes to the real estate market, one thing is clear - supply and demand are the driving forces.

This is an opportunity for our sellers to beat their competition to market, capture the highly urgent buyers and create massive competition by leveraging off the combined marketing efforts of each property in the event.

With many experts predicting a glut of listings to hit the market in 2024, serious sellers need to beat their competition to market and capture the focus of buyers.

It is well documented that January is the best time for sellers to be on the market, as the balance of supply and demand is weighted most heavily in their favour. Listing numbers are low and demand is high, creating the perfect environment for sellers to achieve premium prices.

It was with this understanding the Harcourts Auction Festival was created.

The Harcourts Auction festival is Brisbane’s biggest Auction event. Held at Brisbane’s hottest destination - The Calile Hotel - this event is elevating the experience of buying and selling real estate to something never seen before.

The Harcourts Auction Festival is a marketing statement. It will elevate the profile of every participating property, so they attract the greatest number of buyers. Bespoke and discounted marketing campaigns are exclusively available to sellers participating in the event making it more economical to reach more buyers. This, coupled with the hundreds of buyers we will have in the room on auction day means sellers will have a unique opportunity that will not be replicated.

If you are serious about selling in 2024, we look forward to having you at our Auction Festival.

CHRISTIAN HAMILTON HEAD OF AUCTIONS HARCOURTS AUSTRALIA

WHY AUCTION? The auction method of sale provides sellers with the best opportunity to achieve a premium for their property. Regarded as the most effective way of marketing property for sale, Harcourts auctions deliver a clearance rate of 96% across the auction process. Auctions deliver a higher chance of selling in nearly half the amount of time of a traditional sale. Statistically auctions sell for a 15% premium compared to traditional sales.

Here are just a few of the benefits of sale by auction: Auction day acts as a deadline and creates a sense of urgency by guiding potential buyers to the point of decision.

Potential buyers focus on establishing the maximum price they would pay for the property at auction, unlike the traditional sales process where they focus on how little they should offer.

The seller always has the option to accept an offer prior to auction day, if an 'auction stopping' offer is received.

The property is neither overpriced or undersold, its value is determined by the market through bids.

Competition on auction day drives the price to a premium. The best negotiator for any seller is the second buyer.

A sale by auction is unconditional and allows the transaction to proceed without any delays – money in the bank in 30 days.

OUR AUCTION RESULTS 2742

PROPERTIES LISTED FOR AUCTION

67%

CLEARANCE RATE

88%

2 WEEKS POST AUCTION CLEARANCE RATE

3.1

AVERAGE REGISTERED BIDDERS

21

DAYS ON MARKET 01/11/2022- 01/11/2024

WHY JANUARY? Supply and demand is what drives every market.

Therefore, when chasing a premium price it is important to ensure the scales of supply and demand are in your favour.

This is the case for sellers in January.

According to Realestate.com, views to the ‘Buy’ section on their site remain relatively unchanged in the month of January compared to the rest of the year. In fact, in some years, it has been their busiest month.

Supply, on the other hand, falls dramatically. January is the quietest month of the year for new listings. This creates the perfect scenario for sellers where you’ll have the most amount of buyers with the least amount of competing properties. This leads to multiple offers or multiple bidders which drive up the price.

Sellers that wait until February & beyond will have some serious challenges ahead. Stock levels are picked to increase significantly in 2023, and interest rates will continue to climb. With every rate rise buyers’ budgets are being tightened, and with more options available to them their willingness to negotiate decreases.

Our advice is simple. Get the jump on your competition. Capture the market. Avoid the next interest rate rise. List in January.

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CHRISTIAN HAMILTON As Head of Auctions for Harcourts Group Australia, Christian is responsible for calling and growing auctions across the country. Licensed in QLD, NSW & VIC his understanding of the auction process is comprehensive and his passion is apparent in everything he does. His superior results are no accident.

Calling over 100 auctions every month, Christian is one of the most skilled auctioneers in the country. His auctions are high energy, fast paced and full of humour, making it an enjoyable experience for buyers, while maximising the result for his clients.

MITCH PEEREBOOM Mitch Peereboom is the CEO of Harcourts Queensland and leads an energetic group of offices throughout the state.

Mitch is renowned for his real estate acumen and his auctioneering prowess, having conducted over 8000 auctions in his career and was the most booked auctioneer in the state.

An Australasian Auctioneer finalist, Mitch’s auctions are high energy, high impact and he is widely considered one of the best auctioneers in the country.