A word from Philip Webb

A word from Philip Webb

There are a lot of decisions to make when it comes to selling your home. Choosing when to hold your auction is one you don’t usually think about until it comes time to sell. Saturday mornings are traditionally the most popular choice for family homes, as the majority of people and their children are free from work and school to attend inspections and auctions. Midweek auctions typically appeal to vendors selling commercial properties or vacant blocks, when buying property is less emotional.

However, with the rise of remote working following the pandemic, the gap between mid-week and weekend auctions is shrinking.

In real estate, we always talk about putting yourself in isolation and removing competition. With far fewer properties listed for auction during the week, there is an opportunity for vendors to secure great results by giving themselves a competitive advantage. And with more people working under a hybrid work model and the widespread use of online bidding, the convenience of a mid-week auction is a major drawcard for potential buyers.

The proportion of midweek auctions has doubled to about a quarter of all auctions nationwide in the last five years, according to recent Domain data.

Interestingly, Philip Webb Real Estate has seen great success with our mid-week inspections since the pandemic. With more people at home, mid-week lunchtime inspections are now busier than our weekend inspections. Demonstrating how flexible working conditions impact the way buyers engage with the market.

Philip Webb Real Estate has witnessed a shift in the share of midweek auctions over the last two years. However, if you have a good property and follow the advice of your agent, it shouldn’t matter a great deal when you schedule your auction, it’s going to do well regardless.

If you are looking for guidance on the sale of your property, give us a call today!