Auctions have a certain mystique to them – the raised hands, the rapid-fire calling, the sense that anything could happen in the final minute. For sellers considering this method in Perth’s western suburbs, it’s worth understanding exactly what the process involves, and why it can be such an effective way to sell a well-presented property in a competitive market.
At Abode Real Estate, both of our senior sales team Director Andrew Cooper and Senior Sales Executive Daryl Cook are licensed auctioneers, which means we don’t need to bring in an outside contractor to run your auction. It’s a genuine, in-house capability, not an outsourced add-on.
Why Sellers Choose Auction Over Private Treaty
A private treaty sale – listing at a fixed or negotiable price and waiting for offers – suits many properties well. An auction works differently: it creates a set date by which buyers must be ready to act, and it lets genuine competition between motivated buyers determine the price on the day, rather than a single buyer negotiating in isolation. For properties in sought-after western suburbs locations, where buyer interest is often strong, this competitive format can be a genuinely effective way to achieve a premium result.
The Lead-Up: Marketing and Buyer Preparation
An auction campaign typically runs over several weeks, during which the property is marketed and prospective buyers attend home opens, arrange building and pest inspections if the property isn’t auctioned on an “as is” basis, and organise their finance. Because there’s a fixed auction date, buyers know they need to have their due diligence and finance sorted before the day, there’s no extended negotiation period to fall back on.
Understanding Vendor Bids
One aspect of auctions that often confuses first-time bidders is the vendor bid – a bid made by the auctioneer on behalf of the seller, used to get bidding started or to protect the vendor’s reserve price. It’s a completely legal and standard part of the auction process in Australia, but it’s not always obvious to onlookers when it’s happening.
Here’s a genuinely useful tip: a licensed auctioneer is required to clearly state in their opening remarks, sometimes called the preamble, whether vendor bids may be used during the auction. If you’re planning to bid yourself, either as a seller wanting to understand your own auction or as a buyer at someone else’s, it’s worth listening carefully to this opening explanation so you understand what you’re watching unfold.
What Happens on Auction Day
On the day, the auctioneer opens proceedings, explains the terms and conditions of sale, and invites bidding to begin. Bidding continues until either the property sells above reserve (the minimum price the seller has agreed to accept) or bidding stalls below reserve, at which point the auctioneer may pause to negotiate privately with the highest bidder, or the property may be passed in for post-auction negotiation.
If the property sells at auction, the sale is unconditional – there’s no cooling-off period and no finance or building inspection clause, because bidders are expected to have completed that due diligence beforehand. This is one of the key advantages for sellers: an auction sale, once the hammer falls, is a genuinely done deal.
The Value of an Experienced Auctioneer
The way an auction is run; the pacing, the way bidding is encouraged, how a vendor bid is handled, how the auctioneer reads the room, genuinely affects the outcome. Andrew Cooper brings decades of experience to this role, including regular work as a charity auctioneer for organisations such as the WA Museum, Telethon, the Type 1 Diabetes Family Centre, and Special Olympics WA, experience that reflects a genuine comfort and skill in front of a crowd under pressure. Daryl Cook, alongside his auctioneering licence, holds a current Triennial Certificate in Real Estate and brings over 20 years of sales experience to every campaign.
Is Auction Right for Your Property?
Not every property or every market condition suits an auction campaign. The right method depends on your property, current buyer demand in your specific suburb, and your own priorities as a seller. This is exactly the kind of conversation worth having before you commit to a sales strategy.
To discuss whether an auction is the right approach for your property, request a market appraisal at aboderealestate.com.au or call us on (08) 9381 9111