This is particularly relevant today as I was reminded how many people continue to mis-understand what happens when a property is “passed in” at auction.

The fact is that quite a lot of people, (often uninformed neighbours who come along to watch an auction in their neighbourhood), who see a property being passed in at auction and assume that the auction has “failed”. In the majority of cases, it’s quite the opposite.

A prime example of this can be seen in this week’s sale of a three-bedroom unit at 2/21 Pascoe Street in Westmeadows. This modern, single-level property attracted good interest from a variety of buyers, including market entrants, downsizers and investors. If you’ve watched the video on our Facebook page, you’ll know that we had to take the auction indoors due to the weather, where competitive bidding took the level of interest to $604,000.

That was where we passed the property in and proceeded to negotiate further. As a result, the SOLD sign went up a short time later, with the contracts being inked at $615,000, proving the value of experienced professional negotiation. So as I mentioned earlier, it’s not a case of “failure”, just a case where our role as agents goes to the next level in order to achieve the best possible result for our vendors.

I hope that clears up a few misunderstandings about the role of post auction negotiations.

In the meantime, with the official start of the Spring selling season now just a matter of weeks away, now is an ideal time to start preparing your own property if you plan to sell in 2024. So if you need any assistance or advice from an agent who is just as focused on your best possible result as you are, give us a call at Barry Plant Gladstone Park during the coming week. You can chat to us anytime on 9330 1088.

Cheers,

Bill Karp - Director

Barry Plant Real Estate

Gladstone Park