'Shocked': Gladstone home buyers miss out on auction deals
A GLADSTONE real estate agent is surprised buyers aren't seeing the opportunity at auctions and has some tips for those who might be shying away.
Elders Real Estate sales consultant Luke Watts said it's a sign of "strange times for auctions".
He says the market is flooded with properties with a price tag and that could be contributing to the quiet state of the auction market.
"I feel it's because there are that many properties listed on the market with a price tag that a buyer, particularly first home buyers, can be a little bit nervous of at an auction," he said.
"At the end of the day, the bidder is the one with control. As long as you walk in there with a clear figure in mind then, no, there's nothing to be nervous about."
He also said buyers may be shying away from auctions as they don't understand how to prepare.
Buyers can make the experience easier by visiting other auctions beforehand, or bringing a mortgage broker or perhaps a property guru in the family when it's finally time to place a bid, he said.
The benefit for the seller at auction? It is a "cash unconditional sale", which means a sale isn't subject to finance, council compliance, and a litany of other factors that gives the buyer security.
But, they lose the competitive market of buyers, which works in a bidder's favour.
"Once a price tag is shown, you're [the buyer] likely to be in a lot more competition with buyers in the market," he said.
"A buyer is the market, they are the market, so in an auction situation, they have the ability to tell people what they believe is market value for that property."
6 homes open this weekend to eventually go under the hammer
1. 3 Di Street, Tannum Sands :
This Tannum Sands home has four bedrooms, two bathrooms and two car spaces in the garage. It backs onto the Turtle Way walking path that runs along the Boyne River and Curlew Park.
2. 21 Fairbairn Pl, Clinton:
A five bedroom double-story brick home that fits into the "executive" category. It has all the bells and whistles, including a pool, three bathrooms, and a walk in wardrobe and en-suite.
3. 51 Park St, West Gladstone:
An elevated three bedroom home built for a family with lots of backyard space for kids and pets. The house has all the comfort features, with a front and side deck and a pool.
4. 32/1 Ringuet Close:
A modern three bedroom, three bathroom townhouse on the outskirts of Gladstone is for buyers making a lifestyle choice. The complex has a communal barbecue and a pool for those summer days.
5. 6/18 McCann St, Clinton:
A freshly built town house that is in a convenient location. Shops and schools are in walking distance and Kin Kora Mall is around the corner.
6. 51 Sharyn Dr, New Auckland:
Another five bedroom monster that fits the executive home description. It sits on an 881sq m block, and two bedrooms have balconies.