ONE year ago, a local sales agent told MyCity Logan auctions were quickly becoming the preferred selling method in the real estate business.
Today, agents are divided.
Estate agents Mitch Wakeham and Conor Lynch from Harcourts Connections deal almost exclusively in auctions, selling only one property via private treaty in the past 12 months.
“Mitch and I are the number one auction list in Harcourts in Queensland,” Mr Lynch said.
“The last two years we did more auctions than any other agent in the Harcourts franchise.”
According to these seasoned apologists, auctions can significantly reduce the time a property spends on the market.
“The days a property spends on the market in south-east Queensland at the moment for private treaties is 91 days on average.
“Auctions are 29 days, so that’s nearly a third of the time with an auction campaign.”
For future homebuyers, Mr Lynch said it was important to be pre-approved and confident when bidding at an auction.
Understanding the expected property price is the key to success when buying at auction, he said.
Brown Plains agent Neil Giles, a 23-year industry veteran, disagrees.
“I just feel that if a property goes to the market with a price, you open it up to so many more people, with the conditions depending on the property,” Mr Giles said.
Listing a price on the property listing gives buyers a clearer understanding of what the seller is looking for, he said.
This transparency can help to get rid of any unserious buyers and complete the sale in a faster time frame.
Experience tells Mr Giles that selling at auction does not always translate to selling a property at a premium price.
“In all the years I’ve been here, I’ve probably seen two properties [sell for a premium price at auction],” he said.
“If a property sells at auction for much higher than the reserve asking price, then Mr Giles said the reserve just wasn’t high enough.
“You can get a bit of competition with the auction – that does happen now and again, but it doesn’t always happen.
“I’d like to get the quality of buyers through a property, not quantity.”
Antonia Mercorella, CEO of The Real Estate Institute of Queensland (REIQ), said private treaty was the most widely used sales method.
“It offers flexibility for both parties, allowing sellers to negotiate on price and terms. It’s particularly well-suited to buyers who may require finance approval, need more time for due diligence, a longer settlement, or prefer a more private, less pressured transaction,” she said.
“Auction, on the other hand, has grown in popularity across Queensland in recent years, especially in high-demand areas and competitive markets. This method can create a sense of urgency among buyers due to a defined campaign timeframe and the transparent nature of competitive bidding. After all, the word auction comes from the Latin word ‘auctio’ meaning ‘to increase’.”
She said auctions allow sellers to set terms – such as deposit amount and settlement period – in advance, with the assurance that the sale is unconditional once the hammer falls.
“In a market like Logan, both methods can be effective depending on specific circumstances.
“If the property is unique or difficult to price, or if there’s strong buyer demand, auction can be a powerful tool to maximise competition and achieve a premium price.
“Conversely, if buyers in the area are more price-sensitive or prefer the ability to negotiate and conduct more thorough due diligence, a private treaty approach might generate broader interest and more offers.”
It’s also worth noting that some buyers actively avoid auctions due to the unconditional nature of the process, while others may attempt to make pre-auction offers to avoid competition on the day. Similarly, private treaty sales can attract early offers, sometimes with expiry dates, as buyers aim to secure the property quickly and bypass competition.
Ultimately, there is no ‘one size fits all’ approach. The choice between auction and private treaty should be informed by the property’s characteristics, current market conditions, and the seller’s timeline and risk appetite. In any case, working with an experienced, REIQ-accredited agent ensures that sellers receive tailored advice to help them choose the strategy most likely to achieve the best result.
