Unrivalled and unprecedented success rates at RWSP auctions

Auction results from theGold Coast's largest auctioneers, Ray White Surfers Paradise, are producingsuccess rates at unparalleled levels and at levels even higher than the traditionallystrong counterpart markets of Sydney and Melbourne.

Over the past two months, the Ray White Surfers Paradise Group has submitted 91 properties to auction, including 25 on Thursday 29 April, recording an incredible 92 percent of sales and an expectation that number will rise to even higher levels in the following few days.

At the auction of 3 commercial properties and 22 residential properties from all over the Gold Coast, an incredible 24 percent sold prior to auction with sellers receiving offers too good to refuse in the weeks leading up to auction day.

A large audience on auctionday, including 67 registered bidders, were also incredibly active with robustbidding seeing a further 15 properties sell under the hammer, leaving only 4properties currently in negotiations to complete a 100% success rate. 

The auctions, which wereavailable to view via Zoom to a large interstate audience, saw the usuallystrong component of interstate bidders actively engaged in the bidding, vyingfor everything from 1-bedroom apartments through to penthouses and residentialhomes through to commercial investments. While most sales were at or abovereserve price, there were outstanding sales that saw lengthy and robust biddingproducing sales as high as 31 percent above reserve.

Chief Auctioneer and CEO ofThe Ray White Surfers Paradise Group Andrew Bell said his company's commitmentover 30+ years has placed the company in a position of being the leadingauctioneers in Queensland and he was immensely proud of how their experienceand expertise in this field is delivering extraordinary results. 

"The success ratesbeing achieved in our auction rooms are not only rivalling the results in thebig capital cities, but leading the way in the country,” said Mr Bell.

“Auctions are the highestform of expertise in the real estate industry and should be left to those withthe greatest experience in them, and when done correctly they areproducing amazing results for sellers. It baffles me why anyone at presentwould consider selling by any other means.

"We are also pleasedto assist purchasers who have found it very frustrating when dealing withprivate treaty situations where they make offers but simply find out that aproperty sold to someone else and the buyers don't feel they are given a freeand open opportunity to secure a property.

The openness of an auctiongives every buyer the opportunity of deciding whether they will or won'tincrease their offers and should they be the highest bidder then they know asthe hammer comes down that they have secured the property and it can't be takenaway from them.

"What we really loveseeing happen time and time again in our auction rooms is the excitement andthe thrill for both buyers and sellers as they either sell or purchase theirnew property and take that next step in life's journey. It is a moment of notjust excitement but often we see tears of joy as we transact sales for people.”

Ray White Surfers Paradise Group are gearing up for their Mid Year Selection and look forward to continuing to produce outstanding results for the Gold Coast property market.