Inner-city auction specialists

At a time when some inner-city real estate agencies are shy of conducting auctions for apartments, Ray White Southbank | Port Phillip has just cleared 100 per cent of its auction stock in the last two months.

Principal Andrew Salvo said most agents were fearful when listing apartments for auction as they believed units were not traditionally sold this way.

“Open for inspections can be a lonely 30 minutes and an onsite auction can be awkward and embarrassing when the auctioneer is calling the auction to very few people. Other people believe that inner city apartment auctions lack atmosphere,” Mr Salvo said.

But not this office. Not only did this Ray White office sell 100 per cent of its auction stock over the past two months – some 16 units for a combined sales total of $8,448,333 – they can boast an average days-on-market of 27.5 days.

Speaking of his group’s auctions held at their office at 111 Clarendon St, Mr Salvo said auctioneering via an in-room style was the secret to their success.

“The auction process cuts through the awkwardness. It is a fun night with multiple auctions and a full room of people. There is genuine tension and mystery in the air. That’s the atmosphere that successful auctions need,” he said.

We get so much efficiency out of this process as we can fully utilise weekends to get as many people through properties as possible. We simply have more time to prepare buyers on weekends so they can purchase property mid-week.

“When it comes around to our usual Wednesday or Thursday evening time slot, the whole business is geared up for a fun night of auctioning properties. We have our salespeople, administrators, receptionists and property managers trained and on deck ready to help.”

“This creates tremendous support that we wouldn’t be able to leverage from on weekends without having to pull resources away from showing properties and assisting buyers.”

Earlier this year on February 27, the Ray White Southbank | Port Phillip hosted its first in-room auction, which saw three sales completed under the hammer, with four more selling just prior to clear seven from eight units in one night.

Mr Salvo said that the energy generated from the style of auctioning was “truly amazing” with the company wide effort of getting deals done helping to ease the pressure on individual agents.

He said the support and confidence created a culture where his team was prepared to challenge itself and push the boundaries in a traditionally difficult marketplace.

Ray White Victoria and Tasmania CEO Stephen Dullens congratulated Ray White Southbank | Port Phillip on their fantastic results for their vendors.

“Across Victoria, Ray White consistently call more than 20 per cent of the auctions in the state,” Mr Dullens said.

“We invest significant time and resources to ensure this process is as successful as possible, where we know that a strong auction campaign will result in lower days on market and stronger results for our vendors.”

Apartment Collective Auction Event at Ray White Southbank | Port Phillip The Apartment Collective Auction Event, to be held on June 20, is the first of its kind.

See several Ray White businesses located in capital city markets across Australia and New Zealand collectively focus on apartment sales in one international campaign.

This event is being launched following the huge success of the in-room auctions that Ray White Southbank | Port Phillip have been running in recent months.

The night is an opportunity for savvy buyers to bid confidently in an open and transparent environment surrounded by astute vendors ready to sell.

Thanks to Gavl, you can also watch and bid for these properties online.

For more information contact Andrew Salvo. raywhitesouthbank.com.au