Market Report Why do most of our clients Auction their properties?

Auctions are definitely the most preferred method of sale throughout Sydney´s eastern suburbs and metropolitan areas.

At N.G. Farah we auction at least 60% of the properties we sell and the reason we do so is that we believe it is the best and most effective way of selling a property. Auctions in these areas evolved from the early subdivisions at the turn of the century, land was always auctioned off due to the pent up demand for quality seaside blocks of land and over the period of about a century, auctions have transformed into a very sophisticated way for a vendor to sell their property.

When demand is strong for property, which it is the case in Sydney´s coastal market, an auction can create a level playing field where the highest bidder achieves their goal. One of the key ingredients to a successful auction is a motivated vendor, someone who wants to sell, not just testing the market. If you combine that with a sophisticated marketing campaign, you can be sure the auction process

Already in 2011, N.G. Farah has auctioned more than 200 properties and has a clearance rate of over 75%, which is well above the industry average.

 On Tuesday the 31st of May 2011, an original house at 85 Prince Edward Street Malabar sold for $1,250,000, achieving $150,000 over the vendor's reserve and expectations, We believe N.G. Farah would not have achieved this result if the property was sold by private treaty. By auctioning the right property one creates a fair and competitive bidding process for all parties involved in the real estate transaction.