“The biggest thing is marketing the property correctly to make sure you get as much interest as possible throughout the campaign,” he said.
“The main difference with auction is it gives buyers the chance to actually see in the flesh that other people want the property, and that realization brings to life that auction is your only shot to secure the asset.
“My best recent auction highlight was the sale of 64-68 Monbulk Road(above) in Belgrave. This property was on the market as a private sale for nine months with other local agents, but once I listed it for auction, we were able to achieve a sale price of $866,000 within five weeks.”
Mr Rosam said agents that were not entertaining auction as a method of sale could be missing a trick in achieving a deal quicker than with private treaty.
“I’d say just bite the bullet and give it a crack, because you’ll get paid the same if you sell it at auction or via private sale,” he said.
“Auction is proving to be a faster method to sell property and for a better price for the vendor, so who wouldn’t want to choose a more successful way, given the chance?”