Auctions
Real Estate Auctions in Auckland
Austar Realty enjoyed a 72% success rate in October for properties sold under the hammer. That’s higher than the industry average!
Our Auctioneers
Team culture and support is paramount, weekly meetings and training sessions keep this team at the top of their game. Working together to ensure our vendors get the best possible result-EVERY TIME.
Craig Darroch
Craig is West Auckland’s best known and most recognised Auctioneer. having sold over 1000 West Auckland homes at auction. His favourite auction calls however, are those for charities and various community and school fund raisers. Military trained you can only expect the highest level of service and energy when dealing with Craig, he is always on call to assist staff and advise vendors and has a vast knowledge of the West Auckland market.
Clearly he offers a wealth of experience. he infuses his auctions with confidence, humour and decisiveness and was the winner of the LJ Hooker ‘National Auctioneer of the Year in 2013 and 2015.
Paul Scarfe
Super confident and extremely skilful, Paul has been referred to as the ‘Maestro’.
After many years of auctioneering he has developed the intuitive ability to read buyers better than most. The benefit of this is no opportunity is missed in the quest to transform what most would see as casual interest into the ultimate buyer.
Paul is fanatical about orchestrating the very best for each and every vendor. With his services in demand, Paul will always dedicate himself to you.
Grant Harvey
Over ten years of calling Auctions and loving every minute of it. I am proud of the team I work with at Austar and the opportunities that we have on a daily basis to provide owners with a level of service and results that regularly exceed expectations, and it must be said, are second to none in the industry.
Proudly winning the LI Hooker NZ Top Auctioneer Award for 2016/2017 you are able to combine an award-winning auctioneer, an award-winning team with an award-winning history of success, and you’ll end up winning on the day…and that is the aim of the game!
If it’s AUCTION you want, It’s US you NEED
You have our personal guarantee “we will get you the best result possible on Auction day!”
- We have over 25 years combined Auction calling success
- We vendor bid on your behalf to protect your home’s value
- We pride ourselves on first class service and attention to detail
- Auction day, it’s your day, we provide a dedicated onsite auction specialist team to ensure all buyers are guided and every dollar available is achieved for you
- We achieved over 70% success rate all year round in 2016 and 2017 has started with a bang
- We sell more homes under the hammer every month than any of our competitors
Selling at Auction
Your LJ Hooker agent can help you determine whether auction, private treaty or tender – selling to the highest bidder – is the right option for selling your home and help you to proceed accordingly.
Some of the benefits of selling your property by auction include:
- Vendors have total control over the sale process.
- Auctions attract more buyers to your property because prospective buyers aren’t put off by an asking price.
- The auction date creates a sense of urgency that prevents buyers delaying their decision and lets them know you are serious about selling.
- You are protected by a reserve price. This means your property won’t sell unless bidding reaches a pre-agreed level.
- There is no ceiling price so you have the opportunity to achieve a price above your expectations.
- Auctions produce an unconditional contract for sale with a set settlement date.
Buying at Auction
Whether this is your first auction or you are a seasoned pro, it is important to be just as prepared.
Familiarise yourself with the whole auction process, attend a few auctions for properties in your preferred suburb to observe how they work. By understanding how an auction plays out, you will feel more comfortable when it comes time to join the action.
Once you have your eyes set on a specific home, spend a few hours researching the area it is located in to gain a feel for the local market – comparing prices of similar houses or units nearby is a good start.
Prior to the auction, you will need to ensure that you have carried out sufficient inspections and can provide a ten per cent deposit, should you be the successful bidder.
Most importantly, set yourself a limit then bid with confidence and don’t allow rivals to be intimidating – you are just as prepared to win this auction as they are!
The auction bidding process
A successful house or unit purchase at auction involves going through a number of important stages – and you’ll want to pay particular attention to the bidding process.
If the bidding is slow or has not been initiated, the vendor may through the Auctioneer choose to submit an opening bid to get the auction under way.
The vendor’s reserve price is the minimum amount they are willing to settle for – once it is reached, the property becomes open to be sold at the auction, while if this level is not reached the property may be passed in and a sale price potentially negotiated afterward.
An accomplished Auctioneer will signal clearly that the property is about to be sold by saying, once, twice, third and final call, SOLD.
As the successful bidder, you will be required to pay a ten per cent deposit at the fall of the hammer.
Auctions are the ultimate transparent method of buying real estate. You, the buyer, are in control and you are competing with other buyers through “open outery” ie, calling out or signalling your bid. It’s a simple system of buying and selling and that’s why it has survived for over 2000 years.