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Open homes are a vital component to securing the auction campaign of your property, says a leading auctioneer.
Many components need to come together to advertise a property successfully. For Ray White SA chief auctioneer John Morris, an open home should never be overlooked.
“This is the time where a vendor really gets to show off their home to potential bidders and highlight the great benefits of buying their property,” Mr Morris said.
“What it also does is allow the agent to have a two-way, transparent conversation with the people viewing the property, and their feedback then goes some way to setting a suitable reserve price.”
The feedback from these viewings helps find common ground between a vendor and the auctioneer, working towards building the best auction campaign, Mr Morris said.
“This factual and evidence-based feedback then builds the environment for setting a reserve that the vendor would be happy with and keeps interest levels high among potential buyers.
“Open homes are similar for both auction and private treaty, but during an auction campaign, it really can move the dial and set the precedent for how successful it will be come hammer time.”
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