There is no end in sight for Ray White Parkes | Forbes | Condobolin's recent auction success, after another outstanding online event.
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The agency has recorded some outstanding results for their happy buyers and sellers through online auctions in the 18 months, with no signs of slowing down according to Ray White principal Tracie Robertson.
"As we head to the end of the year we're continuing to see strong buyer activity in the real estate market," she said.
"Our auction results continue to show high clearance rates, high levels of active bidding and large gaps between the highest offer made prior the auction and the price the property has sold for at auction."
On Thursday, October 21, 14 Wentworth Street, Parkes was the first of three properties to go under the virtual hammer.
It had previously been listed with another agent for three months before the vendors engaged selling agent Tania Cole from Ray White Parkes.
Tania was inundated with enquiries and together her and the vendors opted for a fast paced two week marketing campaign to engage as many qualified buyers as possible.
The auction attracted over 50 registered attendees, 13 registered bidders, three of which actively participated.
The three bedroom home was sold for $297,000, well above the vendor's reserve, $48,000 more than the advertised price when it was listed with the other agent and over $20,000 more than the highest offer Tania received prior to the auction.
Buyers have been unfazed by the virtual platform after months of virtual auctions and premium results have been maintained.
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Ms Cole said one of the key reasons for the campaign's success was low stock numbers in the area.
"If you're planning to sell in the coming months, this is a great time to take advantage of today's market," she said
"House prices are at a record high, stock levels are low; creating strong competition and interest rates remain low."
7 Cedar Crescent, Parkes and 72 Forbes Road, Parkes were the other properties sold on the night.
On average 12 bidders registered to make bids to secure the properties, with two different investors securing these homes to capitalise on the high rental returns in Parkes.
6 Welcome Street, Parkes and 11 Alder Street, Forbes sold prior to auction.
Ray White has observed that there is a growing sense of urgency amongst sellers that are looking to capitalise now, before Australia's rapid price growth comes to an end.
For sellers, it might be worth considering how different selling methods can influence the speed of your sale.
On average, properties listed for private treaty are on the market for 66 days while those listed for auction average 43 days on market.
Ray White's next online auction event will be held on Thursday, November 4 at 6pm.
9 Koala Place and 4 Waratah Street are two of the properties set to go under the hammer.
Call Ray White Parkes on (02) 6862 1900 for more information.
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