Selling by auction is an exclusive agency agreement and is therefore also subject to the 90-calendar day agreement period. The auction process requires the seller to pay the agent to arrange effective marketing and advertising plans to maximise exposure of the property and the auction date to potential buyers.
|Work out the appropriate advertising budget to ensure your property is widely advertised taking into account the identified market.|
|Make sure the property is well presented because a buyer's first impressions are crucial to a successful sale.|
|Your agent will require that the contract and the accompanying statutory searches be available well in advance of your marketing campaign. Confer with your agent about this matter as they should be able to provide a tick list to help.|
|Allow the agent to arrange as many inspections with prospective buyers as possible - it all creates interest. At a local level this could have a significant effect on the turnout on the day.|
|For most, the spectacle will be the main draw as well as the eventual selling price so confidentiality is of the utmost importance. The REIQ suggests that you do not disclose or discuss your reserve price with anyone except your agent/auctioneer.|
|A sale by public auction is one of the most exciting, effective and rewarding methods of buying and selling property.|