I have always taken the clearance rates wiht a grain of salt.
What categorises a sale in the auction process may/will vary from state to state.
Also that statistic would lead you to believe that this is the number sold under the hammer on the day of auction, but this couldn't be further from the truth. The number of auctions I attend & no bids, dummy bids in fact I can't the remember the last auction that sold under the hammer.
I lie, do in fact now that I think about it. Personal friends had a home on the canals at Mooloolaba, bought it for 1.2 spent 200k renovating & for personal reasons had to sell the property at auction, lucky bidder got it for $1.1..Now if that process is the best we have then so be it, that was a sale (Agent claws his $30k plus you pay for advertising)
Anything that comes under the 'auction' umbrella even if it sells prior to (ie during the auction advertising period' or post auction (who know where the cut of is here - probably varies agent to agent)
No matter what spin the R/estates put on the sales process, the proof is in the pudding...there are many hungry agents out there. Closed sales are down.
I can on speak for the Sunshine Coast (Qld) an old established agency up here with some 14-15 sales staff did 4 (yes 4 - including auctions) for the month of January.
