Auction numbers surge as bidders start to compete

first_imgAuction numbers in Townsville have more than doubled over the past quarter as agents seek to create buyer competition for quality stock.AUCTION numbers have more than doubled over the past quarter as agents seek to create buyer competition for quality stock.Since January this year, auction listings jumped from 39 to an average of 63 this week, an increase of 61.5 per cent.Auctions now account for 3.05 per cent of all stock on the market with clearance rates sitting at an average of 50 per cent, according to auctioneer and sales agent Sam Musumeci of RE/MAX Excellence.“I do think the market is turning which is why there are more auctions as sellers don’t want to undersell their homes,” he said. “Clearance rates are at around 50 per cent at the moment which, for our market, is a pretty good result and shows that auctions do work but it is a lot of hard work for agents as we’re a buyers’ market so you need to create competition.“Overall I think sellers are becoming more savvy with the auction process as it’s the purest way to sell a home as it has no price on it.”More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020According to Mr Musumeci, auctions — if done right — also created buyer competition which could result in a higher sale price.“Often, when you put a price on a property you don’t get anyone through the door during open homes,” he said.“Auctions, on the other hand, create curiosity.”With Townsville still on the road to recovery, Ferry property sales agent Paul Bow said auctions offered a point of difference.“By taking away the price, you remove any negativity about a property,” Mr Bow said.“It allows the buyer to inspect a home without any preconceived idea or expectation.“On top of that, auctions give a clear market indication of what a home is actually worth and prevents properties being undervalued.“If a property doesn’t sell at auction, it helps set an accurate market price as a property is only worth what buyers are willing to pay. As a result of that properties generally do sell within three weeks after auction.”last_img read more

Ex-workers raise labor issues vs giant bus firm

first_imgAnother former bus driver, RommelJardeleza, claimed they were being obliged to pay for the damage their busessustained from road mishaps. “Perowala sila sang may ginapakita sa amon ngadeath certificate kon sin-o nga empleyadoang napatay. Nakabutang lang sa amon payslip ‘death contribution,’” hesaid. In his case, said Jardeleza who was adriver at Vallacar for six years before he resigned, he was made to shoulder 50percent of the estimated P188,000 damage that his bus incurred from anaccident. ILOILO City – Labor issues are furthercomplicating the leadership tug-of-war at the Bacolod City-based VallacarTransit, the country’s biggest transport company that operates the popularCeres buses. This Vallacar Transit terminal for its popular Ceres buses in Barangay Camalig, Jaro, Iloilo City is the biggest in Panay Island. Labor issues are further complicating the leadership tug-of-war at Vallacar Transit, the country’s biggest transport company. Disgruntled company workers raised several issues that included payroll deductions, among others. IAN PAUL CORDERO He eventually resigned, saidJardeleza, without receiving benefits. Gil Tabares, president of Vallacar’sdisplaced workers numbering about 60, said another deduction in their salary isthe P100 “death contribution.” Tabares said drivers are also beingunreasonably required to wash their bus units. “Konnaghambal dayun ang management nga bayran man lang ang ginakuha para sameal allowance, kontani nagbalon na langkami para wala na deduction,” said Villegas who resigned last year. This is actually money taken fromtheir daily collection for meals, said Villegas, and this is deducted fromtheir salaries. Onecame forward and articulated his colleagues’ concern. Rolens Villegas,conductor for six years of a Ceres bus plying the Iloilo City-Carles, Iloiloroute, demanded that the company reimburse their “line cash advance.” Disgruntledcompany workers raised several issues yesterday. These included payrolldeductions, “unjust” separation pay, “illegal” dismissal, workers beingpressured to do “voluntary” resignation, and non-disclosure of collectivebargaining agreement. “Ibaliknila ang ginkuha nila sa amon,” said Villegas. Backedby the progressive labor group Bukluran ng Manggagawang Pilipino, these formerworkers called for a press conference yesterday at Gonzaga Hall of CentralPhilippine University and urged the Vallacar management to address theirconcerns. He also wondered why this deduction istermed “line cash advance” in their pay slips and not “meal allowance.” “Ti,mabiyahe kami 2 a.m. Mag 8 p.m. or 9 p.m. kapoy nakami, mabasa pa kami sang tubig,” hesaid. The Vallacar Transit management couldnot be reached for comment as of this writing./PNlast_img read more