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Speed up your property sale and head to auction

By Kevin Kelly

Selling property can be a time-consuming and stressful process, but recent research suggests listing real estate in Australind for sale at auction could be just the ticket.

The Real Estate Institute of Western Australia (REIWA) claims that homes listed for auction are snapped up 26 days faster than those sold by private treaty.

Data obtained by the group over the past five years shows the average number of days on the market at auction was 39, which compares to 65 days for private transactions.

REIWA deputy president Hayden Groves explained that the popularity of auctions seems to be increasing across Western Australia.

"With the number of properties on the market growing every week, more and more sellers are looking for the best ways to stand out from the competition and to sort the genuinely keen buyers from the casual lookers and the undecided in a weakening market," noted Mr Groves.

He said auctions are gaining a reputation as quicker way to sell property in the current conditions, which might explain why they have witnessed a sudden surge in popularity.

REIWA emphasised that auctions are particularly effective because they attract serious buyers, not least as they have to put down a deposit on the property on the day.

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