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When it comes to real estate in Beenleigh and Eagleby, there’s one name you need to know: Benjamin Waite. As a trusted expert with deep local knowledge, proven results, and a passion for helping clients succeed, Benjamin is the go-to agent for sellers, buyers, and investors in the region. Worth the Waite is more than just a podcast—it’s your insider guide to Beenleigh's property markey, offering valuable insights and strategies designed to position you for success in the property market.
From understanding local trends to maximising your property’s value, each episode equips you with the tools and knowledge you need to make confident Real Estate decisions. With a friendly yet professional approach, Benjamin shares real-world advice, stories, and tips, making complex real estate topics accessible and actionable. Whether you’re planning your next move or simply want to stay informed, tune in weekly and discover why working with Benjamin is always Worth the Waite!
 This podcast is brought to you by Podpro Australia. If you're thinking about selling your property in Beanley and Eagleby, you might have considered going to auction. But is that really the best choice in the current market? Today, we're going to dive into why auctions may be your best friend or they may work against you.
Looking to stay ahead in the Beanley and Eagleby property market? Want to get local insights from someone who knows this community inside and out? Then you've come to the right place. I'm Benjamin Waite and welcome to Worth the Waite, Beanley and Eagleby's local property podcast, where we'll be diving into everything you need to know about real estate right here in our beautiful region.
Auctions in the Beanley, Eagleby or the Logan market historically have been around selling stigmatized or problem properties. Ultimately, an auction is an unconditional sale. So, when the hammer drops down, your house is officially sold, no ifs, buts, or maybes. So, it's a great way to get rid of a problem property.
It might have been riddled with termites, it might be in a flood zone, it might have been damaged by tenants, or it, you know, ultimately is a distressed sale. So, historically, in the Logan area, and being Lee and Eagleby, These sales, or these type of properties, have been going to auction for decades. So when people arrive at an auction in this area, that's typically what they're expecting.
Now things are changing. Queensland hasn't been an auction state for a long, long time. Sydney and Melbourne are. As a lot of people from the Sydney and Melbourne areas are moving up, they're a little bit more au fait with auctions. But they're typically moving to the Gold Coast or the Brisbane markets.
So that's why you're seeing an uptick in auctions and successes there. It is triggering, triggering down, but unfortunately our market, the Beanlea and Eagleby area is not quite there. And the reason our area is not quite there yet is it's full of first time buyers or first time investors. They're intimidated by an auction.
Would you want to buy something for the very first time, which is hundreds and hundreds of thousands of dollars that you've taken all this time to save up for and not have any way of doing some checking or homework? No. So, ultimately, we find that there is less inquiry. on auction properties, there's less registered bidders, sometimes one registered bidder, and I don't know how many times I've experienced another agency has got an auction happening in the same street on the same weekend, they've got one or two registered bidders, and I'm getting 14 offers on the property.
And ultimately with that competition, because what an auction is about is competition, pitching people against each other to drive the price up. If you can't get all the people in the market to work against each other. Then, where does that competition come from? Well, the competition comes over to me, because I'm allowing everybody to participate, because we've got conditions.
Some people might say that, look, oh, their finance might not be approved, or, you know, they're going to knock me down on building and pest. Well, you vet all of those. A good agent will ask those questions and vet the buyer. But ultimately, you want even those guys who can't afford the property, who can't buy the property, to be in the mix.
Because the guys who can afford the property, or can buy the property, are going to see the competition that all of that's created. If you do love auctions, I have the perfect thing for you. I personally love having my cake and eating it too. So there are some fantastic platforms out there now that bring the time sensitivity or the time pressure that an auction deli auction provides with the transparency of an auction or some of the transparency of an auction while still allowing the craft of negotiation that a good agent brings.
So we can leverage the auction, the auction elements as well as the negotiation elements of an agent. I'm happy to discuss those with you at another time or if you wanted to give me a call, don't want to, don't want to tell all the competition about that. So what are your other options in selling? Well, you've got plenty of other options apart from auction.
There's private treaty and then there's some auction type platforms that we can use. You've also got an expression of interest. You've also got a tender. So there's plenty of options. A really good agent will go through all of those options with you and find which resonates with you. But ultimately, the most important thing is competition.
If you can get as many buyers interested in the property, that's where the price growth comes from. I want to make sure that I get this out there. I love auction. I think auctions are a fantastic way to sell a property. Uh, in the right market, with the right demographic, who are educated, who are confident in that process, it performs fantastically well.
It allows you a time period. It applies gentle pressure to buyers. It gives you three opportunities to sell ultimately. And you know, an auction agent will probably use this pitch. You've got the first opportunity, which is, you know, accepting offers before, before auction. Then you've got the ability to sell at auction.
And then you've got the ability to go private treaty after auction. If it doesn't sell at auction, if it doesn't sell at auction, it's going to be stigmatized because people are going to wonder why. What's wrong with it? Confirmation bias, uh, and then they'll start to invent reasons why it hasn't sold.
Also, it's sat on the market for four weeks. So if someone has a look at it and go, Oh, it's been on the market for four weeks. Again, what's wrong with it? Why hasn't it sold? In a strong market, you can usually sell things in one or two weeks with multiple offers. That's that pre market phase. So you can still have those great multiple opportunities to sell your property.
Even in a private treaty or a tender, uh, and so on. Limit the impact of a buyer failing on finance by your agent doing a strong vetting process. Pre approval. Is there a broker in place? Is there a bank? You can even ask for the paperwork. Also get a building and pest done before you list the property.
Make sure you confidently bring in property to market. There's nothing, nothing worse than having something that is a very easy fix. Scare off a buyer, have a contract crash, and then you've got to do the whole thing again. So, it gives confidence to a buyer, because you wouldn't have brought the property to market otherwise.
It also gives confidence to you, and ultimately gives confidence to me, and the property and the product that I'm selling. So at the end of the day, auctions are a fantastic way to sell a property. Just make sure that they are suitable to the demographic and the conditions of the market that you're selling in.
If you're considering selling in the Beanlea and Eagleby market and want the best strategy for your home, let's chat. Auctions aren't always the right fit for a market, although they have their place. And there are smarter ways to secure a great result. Reach out to me at ljhookerbeanlea or visit benjaminwaite.
com. au for your property appraisal or a personalised sales strategy. Thanks for tuning in to Worth the Wait, and remember When it comes to real estate, it's always worth the wait.
Thanks for tuning in to Worth the Wait. If you enjoyed the podcast, please be sure to share with a friend and don't forget to hit that subscribe so you won't miss an episode and all my local property tips, updates, and insights. Until next time, I'm here when you need me.