HOW TO SELL YOUR HOME AT AUCTION!

Whilst it’s a big step to make a decision to sell your property by auction, the process can be simplified by taking some basic steps to ensure that the maximum price can be achieved. The basic principles apply to most types of auctions and relate to the following important factors:
Select the best Agent/Auctioneer
Marketing and Promotion
Presentation
In selecting the best Agent and Auctioneer you will need to consider such things as local profile, product knowledge, suitability to the type of auction involved and qualifications of the people responsible for the promotion and sale of your property. A polished auctioneer is an important ingredient in the overall success of the auction process.
The marketing and promotion of the property is critical in endeavouring to find the most suitable buyer for your property. It is, obviously, important to focus your advertising towards the people most suited to your home. In settling on the most effective marketing campaign, make sure you allocate sufficient marketing funds to reach the target market with the best and quickest impact.
The presentation of the property is critically important in achieving the desired result. Remember that the first impression is always the most significant and a well presented property will give you a great chance of auction success. Things such as neatly kept gardens, manicured lawns and well maintained home surroundings will strongly enhance the potential value and appeal of the property to potential purchasers.
If you can manage to get the basic principles right you will go a long way towards achieving a really satisfying result at auction.

On going marketing

The information obtained from Buyer Registration forms will provide invaluable contact details for future auctions. The growing of your database of potential purchasers can lead to the ongoing support and success of your auctions for many years to come.

Settlement

When formalising an agreement with an auctioneer it is important to discuss the financial settlement arrangements once the auction is completed. Once again, depending on the type of auction being conducted, the auctioneer (or his agency) will collect the auction proceeds and, in turn, dispurse the proceeds to the relevant recipients. Normal deductions prior to release of funds to the seller will include Agents Commission and Advertising.

Safe Delivery and payment policy

To continue the smooth operation of the auction process it is important that buyers are able to take delivery of their auction purchases with a minimum of fuss. Trained staff will assist with efficient delivery of items once payment has been made. Safe delivery is an important part of the process.

Re-enforce the absolute necessity to receive full payment for auction items prior to collection by buyers. Failure to enforce the payment policy can be a financial disaster. History tells us that a soft approach in this area of the auction process often leads to moral and financial disappointment.

Make it easy for the purchaser to pay.

An important part of the auction process is to provide a number of payment options to satisfy the needs of the buying public. These days acceptable methods of payment at the most auctions are cash, personal cheque, bank cheque and various forms of credit card options. Auction items will normally remain on site until full payment is received unless alternative arrangements are made prior to auction. It is important for the auctioneer to make everyone aware of auction payment conditions prior to commencement of the auction.

Presentation

When conducting an auction of any type it is imperative that the auction items are presented to the public in the best possible condition. In an ever increasing competitive world, pristine presentation will strongly enhance a seller’s chances of achieving a good price for their auction items. Attention to detail in presentation is sure to be rewarding.

Have The Right Staff

Ensuring that sufficient, trained staff are engaged to assist in all facets of the auction process is very important. The presence of relevant staff members in areas of registration, presentation of items, acceptance and delivery of auction items etc is a critical component of a successful auction.