When auctions and elections collide

first_imgDavid Holmes“Those that panic and cancel May 18 will be switching to private treaty at a point in the market cycle when buyers need the encouragement of a sales deadline, which auctions offer,” Mr Holmes said. “It would be a reactionary response that misses out on the competitive offers that an auction generates.“Even if you have the hotline to The Lodge, an impassioned plea to the PM to rethink May 18 won’t hold much sway. “If you’re not keen on sticking to May 18, it’s safe to say your auction — not the election — will be the one that moves.”Prime Minister Scott Morrison announced this morning that Aussies would go to the polls on May 18, triggering a five week election campaign that has, in all reality, been dragging on for months. Flashback to Labor leader Bill Shorten’s epic fail while eating a democracy sausage all wrong back in 2016. (AAP Image/Mick Tsikas) Mr Holmes said it was also likely that many sellers had already deferred their auction due to the Easter school holidays, defeating one of the benefits of an auction — a faster sale and settlement.“I’d advise homeowners to stick to the original plan they’ve developed with their agents,” he said.He said interested buyers would just work voting around the auction.“It’s more time-consuming getting a station-wagon full of kids, halftime oranges, water bottles, sports tape, shin guards and changes of clothes off to junior soccer on a Saturday morning than ducking out to the nearest polling booth,” he said.“Be brave and stick to May 18.”You could buy a house and get a free democracy sausage the same day — winning! Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45So your house is set to go under the hammer the same day as Aussies head to the polls.Do you go ahead with the auction or pull the pin and cry over a democracy sausage?Metro Auctions managing director David Holmes said sellers had three options — panic, postpone or stick to the date and hand out auction registration cards.center_img Just because ScoMo has called the election doesn’t mean you have to cancel your auction and cry over a democracy sausage. Picture Kym SmithMore from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoMr Holmes, who will represent REIQ at the 2019 Australasian Auctioneering Championships, said it was important to remember that a third of voters voted at pre-polling stations before the 2016 Federal election, so one in three voters would have already cast their vote before auction day. “Postponing the auction by a week — or even two — is not the end of the world, but could make things harder,” he said.“If marketing collateral has already been designed and printed, changing the date comes with added marketing costs.“But more importantly, other sellers might be thinking the same thing, creating a bottleneck of auctions in the back end of May and early June. At the moment, it’s a struggle to make properties stand out in the marketplace (and) sellers could end up striking further competition by backing their campaign into following weeks.”last_img

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