Selling by Auction
Selling commercial property at auction enables the smart commercial property owner to determine the true market value of the property at the time of sale. Taking a property ‘to the market’ invokes a public negotiation process which establishes the real value of your property. It also introduces a natural element of competition which can often produce results that exceed the owner’s expectations. Importantly, as a commercial property owner, the process enables you to make sound business decisions on the divestment of your asset based on accurate information.
Market Leader in Auctions
Barfoot & Thompson is Auckland’s leading property auction specialist. We hold regular commercial property auctions in our purpose built Chancery Lane auction space, as well as in our South Auckland Commercial and North Shore branches. Our auctions are straight up – we don’t allow auctioneer or ‘phantom’ bidding, so you can truly see what the market will pay.
Selling by Auction
One Consistent Message
Appointing a Sole Agent to manage your auction sale ensures that one message is presented to prospective customers. A working partnership between you and your Sole Agent serves to allow frank discussion of issues as they arise so that strategies can be devised accordingly.
Obtaining the Best Result
Barfoot & Thompson will work with you to obtain the best possible result. Our in–house marketing team will ensure your property is displayed to the best advantage, one of our top auctioneers will be available to consult on auction strategy and your Barfoot & Thompson salesperson will ensure every member of the team is aware of this opportunity to maximise the interest of every potential buyer.
No Price Marketing Works
No price marketing attracts a wider range of customers. The Auction process can create the conditions of buyer competition, ensuring that serious buyers will submit their best bids.
Timeframe
By defining an Auction deadline, urgency is generated in the mind of the customers, ensuring parties bid with serious intent, which can lead to a premium price being obtained.
Advertising Programme
Your property gains exposure and prominence through a tailor-made marketing programme including adverts, website, signage and brochures. Your property obtains ‘special project’ status.
Your Terms are Met
Specific terms and conditions can be set by you including the settlement date, deposit amount and the extent of client warranties. A 10% deposit is submitted with each Auction.
Pre-Auction Offers
Barfoot & Thompson has a clear and transparent procedure in place for pre auction offers. Our process ensures pre auction offers are dealt with quickly (within two working days) and fairly. Pre auction offers must be unconditional, in writing and accompanied by a 10 per cent deposit.
If the offer is not acceptable to the client the auction will proceed as scheduled. If it is at an acceptable level, all other registered buyers will be given the opportunity to make an offer; either by bringing the auction forward or as a multi-offer procedure. If the auction is brought forward the opening bid will be the instigating written offer, which will be declared the reserve price.