Hi
Of course your agent wants to auction – it gives him/her a big advertising pot and a good chance of selling the property within 3 to 4 weeks, commission banked!
Selling by auction can only ever give you a result that is slightly better than second best. As soon as Mr A stops bidding then Mr B is in control, assuming there are no further bidders, Mr B wins. The problem is – you will never know how much Mr B was willing to spend because he has no one bidding against him!
Ask your agent about tender. Its a sealed bid process similar to auction but its private so Mr A is likely to bid close to or at his top bid.
If you want further info please ask – i’m an agent in NZ.
jpmh[biggrin]
