Property auctions have long carried a sense of intrigue.
Some people see them as a fast track to a deal, others as a space reserved for seasoned investors. In reality, auctions are simply another way to buy or sell property. They offer speed, transparency and opportunity when approached with the right preparation.
What makes auctions appealing is the clarity they bring. Instead of slow negotiations and uncertain timelines, everything happens in a single event. Sellers receive feedback on demand, and buyers can see exactly how the market values the property in real-time. It is a process driven by open competition, which is why auctions can feel energising and efficient.
But auctions also require a mindset that is different from traditional buying. Once you place a winning bid, it's binding. There is no cooling-off period and no stepping back if nerves kick in. That's why preparation matters more here than anywhere else in property. Before you arrive, be it in person or online, you should already know your maximum bid, your financing plan, and the terms of the sale.
It also helps to understand that not all auctions work the same way. Some are voluntary, chosen by sellers who want a decisive and streamlined sale. Others are bank-related, often priced attractively to encourage interest. Sheriff's auctions exist too, but they come with more legal and structural complexity and are typically better suited to experienced buyers who understand the risks.
No matter the type, one principle applies across the board: do your homework. Auction properties are usually sold 'voetstoets', which means the responsibility for checking the condition, outstanding accounts, or compliance issues rests with the buyer. Reviewing the property details, reading the auction terms carefully, and confirming available funds can prevent costly surprises.
For sellers, auctions can offer the advantage of certainty. A well-run auction gathers qualified buyers into one competitive space, often reducing time on the market and removing the back-and-forth of private negotiations. In a shifting market, that clarity can be invaluable.
For Property Practitioners, auctions present an opportunity to guide clients through an unfamiliar format with honesty and confidence. That means explaining the process clearly, highlighting the risks, and helping clients decide whether an auction aligns with their goals.
Approached with preparation and perspective, auctions can open doors. Not through luck, but through clear thinking and informed decisions.
