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Hermanus: Auction boom in Eastcliff

26 Apr 2007

Selling a property on auction is no longer seen as a last resort option and sellers should consider this dynamic and exciting route a lot sooner.

So says auctioneer Nick Altona-de Klerk, riding on the crest of an auction boom with two properties in Eastcliff and one in Northcliff being sold to the highest bidder within months of each other, Nick is justifiably certain that there is increased consumer confidence in the auction process.

"Australia sells 80% of their property on auction and in the USA 40-50% of real estate is sold this way," says Nick. Here in South Africa and more specifically Hermanus, he says that the trend suggests a move back to selling fixed property on auction.

Nick is particularly pleased about the hugely successful auction of Boston Lodge in Mitchell Street, Eastcliff on Saturday, 14 April which sold for R3,3 million nett. He says: "Adek's auction in Mitchell Street this past week, saw 45 groups through the property in two short viewing days. The auction itself was attended by approximately 50 people, with bidders registering with the auctioneers sales team."

"The sale of this home and the high price achieved, is fantastic news for Eastcliff residents because it shows a healthy growth rate in property prices," says Nick.

Including this auction, Adek boasts an auction sales success rate of approximately 95%. Sometimes they sell prior to auction, which shows the effectiveness of the process. Successful sales include, for example, Birkenhead Breweries, Waboomsrivier Wine Estate, Peregrine Farm Stall in Stanford and a variety of houses and farms.

Auctioning a property has many benefits for sellers. Nick says: "The main point for sellers is that the buyer pays the commission so the achieved price on the day of the auction is their nett price in their pocket." The auction process is dynamic and effective and with stringent conditions in place the hammer can fall without difficulty.

Regarding the advantages of the auction process Nick says: "We first run an intensive advertising campaign to ensure maximum exposure for the property. All prospective buyers are channelled through one office and on one given day the whole process is concluded."

"Its fast, exciting and when auction fever takes hold, there are no limits to what can be achieved." - Kerry van Rensburg

Article courtesy of Hermanus Times.

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Hermanus: Auction boom in Eastcliff

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