Selling at Auction

When selling at auction, many of the steps leading up to the purchase are the same as making a standard purchase.

The Auctioneer

We engage a skilled auctioneer with a strong knowledge of the local area and a proven track record. Their expertise helps generate competition and maximise your result on auction day.

The Agreement

A written ‘Agency Auction Agreement’ is required by law. It outlines your property’s reserve price, commission fees, and grants the agent exclusive rights to sell for a set period after the auction.

The Promotion

The agent is experienced in planning and arranging the marketing of your property including advertising. The extent of the marketing campaign will depend on the amount you are prepared to spend.

Some tips for a successful auction

Work out the appropriate advertising budget to ensure your property is widely and effectively advertised.

Make sure the property is well presented because a potential buyer’s first impressions are crucial to a successful sale.

Allow the sales executive to arrange as many inspections with prospective buyers as possible.

Do not disclose or discuss your reserve price with anyone except your agent/ auctioneer.

The Reserve Price

You have the right to set the reserve price, below which the auctioneer is not permitted to sell. Consult with your auctioneer and agent when setting your reserve price as they will be familiar with recent sales of similar property in the area. Remember to be realistic when setting the reserve price, bearing in mind supply and demand in the area as well as other general market considerations

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