What makes a property a winner come auction time?

When it comes to selling property, the more boxes you can tick to match the wish list of buyers, the better placed you will be to sell at a good price.
When it comes to selling property, the more boxes you can tick to match the wish list of buyers, the better placed you will be to sell at a good price.

As a contestant on The Block, you are guaranteed a life-changing experience and discovering you have capacities to achieve way more than you ever considered possible.

The odds of winning money at The Block auction are good, but there is still a chance you may not win enough to cover minimum wages for your time - it has happened in past, so it could happen again.

We entered the auction room feeling the reserves were too high and it was likely we would not make money. However, we were completely at peace with this, given the amazing experience we had been afforded.

Before we knew it, we lost track of where the fast-climbing auction was at, the numbers were going up and up fast, and we were in a state of shock as we witnessed our financial future changing beyond what we could possibly comprehend.

The hammer fell at $4,044,444.44, meaning we had just pocketed nearly $650K! We could barely contain ourselves - this was one hell of a bonus.

Mitch and Mark are winners of The Block 2021. Picture: Supplied.

Mitch and Mark are winners of The Block 2021. Picture: Supplied.

Adding to that, by the time the final home was sold our figure above reserve was the highest, so that meant we'd won the show and pocketed an extra $100,000 taking our winning total to almost three quarters of a million dollars. So, what was it about our home that gave us the win?

There were four homes of similar size with roughly the same size land parcel, these were the homes we were competing with. The fifth home was larger and sat on a block of land way bigger than the other four, so it was a stand alone and required a buyer to spend at a higher level and possibly a lot more than has been commonly achieved in this specific area, in this suburb.

When it comes to selling property, the more boxes you can tick to match the wish list of buyers in a particular market the better placed you will be to sell at a good price.

Our house ticked a lot of boxes! It was the only home that offered the complete combination of: four full bedrooms, a full dedicated two-person study, a full bathroom on the lower level, a basement set up as a flexible extra living space as opposed to a dedicated theatre room, a two car garage, indoor/outdoor living designed for the climate, the perfect street appeal.

The facade of our home was also the only one that was in a style that typified what was commonly sought after by local buyers in the area.

While our garden was very pretty, it absolutely ticked the box of being a very child-friendly space - another big ticket for buyers in the area.

We nailed what we think is a key to selling a home ... the street appeal and the emotional pull. In an auction situation you want two bidders set on buying your home, as this positions you to do well. This is what won it for us.

We can tell ourselves it was because we had the best house, but if we are honest, that is not for us to decide - this decision is totally up to a couple of buyers on the day.

  • Mitch and Mark, winners of The Block 2021, are long-time renovation lovers and have a flare for making spaces glamourous. See mitchandmark.com and listen to their Reality Reno podcast.

Check out how you can get the latest deals on home decor with discount codes from Australian Coupons.

This story What makes a property a winner come auction time? first appeared on The Canberra Times.