Auction Process
Checklist for an Auction
Cleaning and clearing of the unit/house
Organising the status report for the Auction board
Organising a conveyancing for drawing up the auction contract
So far we have achieved the lead up to the marking…..
• Professional photos
• Text for Advertising
• ABC board
• Internet
• Text for Editorial—3rd week of the Auction campaign
• Organising fliers for the surrounding neighbourhood
• Brochures for the property
• Organising Auction Board
• Up to date recent sales of houses/units in the area to provide to clients to justify the price range
• Opens —Saturday and Sunday for 4 consecutive weekends
• Seven WONDERS OF AUCTION
• Specifially tailored to suit the property to maximize exposure
• Owner approves of all marketing campaign—co ordinated and supervised by Raine & Horne
• Adverts in paper have preference for exposure
• Auctioneer that is chosen is experienced and knows the process and location well
• Auctioneers role is to get the highest price, be submitted and sold
• Over 80% of our properties that go to Auction get sold within the time frame
• Auction atmosphere enhances better prices by competitive bidding - in a fair market
• Create interest and enquiry-entice clients to come and see the property
• Each house open to have at least 2 people assisting to ensure safety of possessions
• Find out feedback from every person that comes to the home open
• Each Tuesday afternoon face-to-face and discuss programme and feedback
• A week before the auction listing agent and the auctioneer go through the process of the auction
• Determine what amount is suitable for a deposit
• Go through the contract to ensure it is appropriate
• Becomes unconditional—30 day settlement
Day of the Auction
Have the last open at least 30 minutes prior to the Auction set time
Copies of the contract of sale will be displayed and brochures available
Auctioneer to be briefed 15 minutes before Auction begins—prospective buyers
Communicate feedback in relation to the reserve—set the reserve price
Record names and numbers of attendees
Sale Production—people, atmosphere, professionalism, competent and personable auctioneer
Sales personnel—stand in the front with auctioneer, start on nominated time. Give a warm welcome to attendees
Auctioneer to read the standard conditions of Auction:-
• Title particulars
• Inclusions to the sale
• Special conditions
• Zoning details
• Completion date