Why is it important to proceed with an auction even if you think it won't sell?

Last week Charlie Powell, an auctioneer in our business, proved first hand how important it is to proceed with an auction even if you think you have no interested parties. Charlie was discussing an upcoming auction with one of our clients in the Inner West. There were big concerns about the level of interest in the property. The agent told Charlie that they were thinking about withdrawing from auction and that the vendor was disappointed that not one purchaser was indicating the level of interest required to achieve a sale. After much deliberation Charlie convinced the agent to run the auction. He explained the importance of positioning the property in the market and setting it up for a sale in the weeks following. More importantly he explained the importance of never giving up. If you withdraw from auction, the only guarantee is that the property will not sell at auction. However if you run the auction and present well in the market place, you at least give yourself an opportunity at achieving a sale. (read more)

Commercial Property Auction Day

The RealCommercial Auction Day is a brilliant venue to trade commercial real estate. The day runs every Thursday morning at the Angel Place Conference Centre commencing 10:30am. Director of Cooley Auctions and auctioneer, Damien Cooley, said "the great thing about this day is that it gives sellers the opportunity to be in a room environment with other commercial properties and investors who are actively seeking to build their property portfolios. On a number of occasions we have sold real estate here to investors who have seen the property in the auction room and bought based on yield and location." The day is run and operated by RealCommercial and orders of sale can be found on their website. To book an auction at this venue simply log onto www.cooleyauctions.com.au and fill in the book an auction enquiry and Cooley Auctions will take care of the rest. If you book the auction through the realcommercial website it is important to select Damien Cooley as your auctioneer. To find out more go to www.realcommercial.com.au.

Cooley Auctions sponsors the REINSW Novice Auctioneer Competition

We're proud to be the major sponsor of the REINSW Novice Auctioneer Competition, Eastern Suburbs Division, which is a great opportunity for budding Auctioneers to showcase their talent and take their career to the next level.

To enter you need to have conducted fewer than 10 auctions if you're an accredited auctioneer and you don't need to hold a real estate license. You'll need to find an item to be auctioned where you'll be judged on your introduction, terms and conditions, description, control of bidding, conduct of sale, voice and deportment.

All proceeds will be donated to Father Chris Riley’s Youth off the Streets charity – great fun for a great cause.

Date: Friday 4 September 2009 (read more)